Schwarz Insurance Blog

July 23, 2015 @ 12:00am

Single With Life Insurance.

Single with Life Insurance: Who Should be the Beneficiary?

Despite what many people may think, having a life insurance policy isn't just for married people with a family. Even if you're single and older or younger, your death will have some financial impact on others. Consider your "end of life expenses." Without life insurance, who is going to pick up the tab for funeral costs? What about your student loans and other debts? Your mortgage? Even if you don't have debt, buying life insurance as a single 25 year old is much less expensive than waiting until you're 35, married and a father of three as is purchasing life insurance before you have health issues rather than after.

One of the challenges upon obtaining life insurance as a single person is designating who should be your beneficiary. There are several things to consider when making this decision:

Has anyone co-signed any of your loans? The cosigners of your student or home loans in the case of your passing will become legally responsible for that debt. Leaving them enough money to pay it back is a wise and kind decision that will prevent them from financial despair. Will your parents or grandparents need financial help in the future? You may be helping them now, but in the case that you're not around to help later, your life insurance policy could stand in so they're well taken care of. Who would be taking care of your funeral arrangements if you unexpectedly passed away? They should

July 14, 2015 @ 12:00am

Turning 26? What you need to know about health insurance.

The Best 26th Birthday Gift: Finding Your Own Health Insurance Plan

Thanks to the Affordable Care Act, adults younger than 26 have the ability to stay under their parents' health insurance plan until their 26th birthday or through their 26th birthday year, depending on the plan.  Unfortunately, when those benefits end, a lot of us are overwhelmed with the prospect of finding and purchasing our own health insurance.  But not to worry -- finding health insurance doesn't have to be an insurmountable task.  By working with an experience agent, you will find you have several options.

Obtain insurance through your employer's plan. Often companies provide several options for coverage.  Talk to your HR department about what they offer. Apply for coverage through the Health Insurance Marketplace with the help of your independent insurance agent.  Even if you don't turn 26 during the Open Enrollment period, you can still get coverage through the Special Enrollment period due to your change in age.  Apply up to 60 days before your birthday so when your current coverage ends, there aren't any gaps in -- or stress about -- your insurance.  Through the Marketplace, you'll see health insurance rates that are based upon your income and needs and see if you qualify for free or low-cost coverage through Medicaid or the Children's Health Insurance Program.  Also, if you're under 30 and budget-conscious, you can explore a "cat

June 24, 2015 @ 12:00am

What Does my Renters Insurance Cover?

You've probably heard it from your mom, your older brother, you insurance agent and maybe even your apartment complex's landlord: you should have renters insurance.  Let me repeat that, you should have renters insurance! Just because you're not ready to buy a house doesn't mean you don't need financial protection for you, your friends and your belongings.

If you think it's not worth the very small cost (think your extra change every month), think again.  Renters insurance can cover:

Personal property. That favorite shirt? Your laptop you're still paying off? The new couch you painstakingly through about for weeks before purchasing? If the things you've accumulated over years are damaged or stolen, you're going to need financial assistance to replace them.  The average renter owns about $20,000 in personal property -- and without insurance, you'll be footing the entire bill instead of just the small deductible on your insurance policy.  An additional bonus: renters insurance covers your stolen belongings no matter where you go, even if you're backpacking through Europe and someone decides to take your valuables. Personal liability. If someone gets insured in your apartment, renters insurance provides coverage for legal costs.  This includes a friend tripping down the stairs or even Fido biting someone.  Some policies even cover the medical bills of your guest. Property dama

June 19, 2015 @ 12:00am

So you're ready to hit the highway -- just you, your motorcycle and the open road.  Before you strap on that helmet and slip into your leather jacket, there could be one thing standing between you and the freedom your two-wheeler brings: insurance.

You might be wondering, "What does my motorcycle insurance cover?" or "How do I choose the recreational vehicle insurance coverage I need?" There are different types of coverage offered for motorcycle owners, some required and some optional:

  • Liability insurance. Most states require you to carry a minimum coverage that covers bodily injury and property damage that you could cause to other people involved in an accident.  Wisconsin requires you have $25,000 of coverage for bodily injury and $10,000 for property damage.
  • Collision insurance. This is optional, but covers damage to your bike after you meet your deductible.
  • Comprehensive insurance. Comprehensive insurance is also optional, but covers damages to your motorcycle beyond collision, like theft or vandalism.
  • Uninsured or underinsured motorist insurance. In case you get into an accident with someone who is without insurance or doesn't have enough coverage, it can cover damages to you and your property caused by another driver.  Uninsured motorist insurance covers medical treatment, lost wages, property damages and other damages.
May 27, 2015 @ 12:00am

We all make mistakes on the road, whether it's a fender bender, driving too fast for the conditions or just being less cautious than we should be.

Very rarely these mistakes can be life-altering and result in the loss of a life.  If you ever are in the unfortunate circumstances of being the blamed party of a wrongful death claim, you'll want to be protected to the fullest.

What is a wrongful death claim? It's a lawsuit brought on by the surviving family members and/or loved ones of the person who was killed as a result of someone else's negligent behavior.

A good insurance agent will suggest coverage amounts that will provide you with adequate protection in case something goes terribly wrong.  In the state of Wisconsin, it's smart to be sure that your wrongful death coverage is a minimum of $500,000.

This minimum amount is recommended because in Wisconsin, the maximum amount you are liable for is $500,000 for the death of a child and $350,000 for the death of an adult.  Whatever happens, you'll be covered and won't go bankrupt because of your mistake.

It's unlikely that you'll ever be a part of a wrongful death claim, but we have insurance to protect us from unlikely situations that life brings.  With the minimum coverage of $500,000 you can sleep easy knowing you and your possessions are protected.

There are many other ways to gain peace of min

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