Standing, Sitting, or Bed Desk?
| Unleashing Employees’ Creativity One Brick at a Time | |
Today’s top employers are keen to find new ways to inspire out-of-the-box thinking and stimulate the kind of creativity that will encourage innovation. One approach is LEGO® SERIOUS PLAY®, which was developed by LEGO with the goal of tapping the creative ideas and imagination that reside within the minds of a company’s employees. It uses the group process, facilitators …and LEGO blocks. Of course, children have long found that LEGO blocks challenge their abilities and stimulate their imaginations. Now LEGOs are being used in board rooms rather than playrooms to stimulate employee creativity and assist with team building, problem solving, product development, and process improvement. The approach is based on research that suggests hands-on/minds-on learning engages the imagination more readily; produces deeper, more meaningful insights; and opens the mind to new possibilities. The concept is based on research in three areas:
Essentially the hands find a solution that the mind isn’t able to uncover on its own. Participants in LEGO SERIOUS PLAY work through scenarios using three-dimensional constructions. In the process, they often discover things they didn’t know they knew. According to one manager quoted in Quartz online, “People don’t come away from LEGO SERIOUS PLAY unmoved.” |
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| TECHNOLOGY | |
| Your Standing Desk Makes You Ache: What Would George Do? | |
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If you’re a devotee of standing desks, you may want to take a hint from Seinfeld’s George Costanza and lie down on the job. At least for part of the time. “The way the human spine is designed, we’re not quite designed to be completely erect,” points out Dr. Jason Freedman, an orthopedic specialist quoted in a CBSNews.com article on rethinking standing desks. While standing is easier on the body than sitting, standing for long periods of time still causes pain in the lower back, legs, and feet. What to do? Consider “doing a George Costanza” and have a bed built into your desk. In a popular episode from the hit TV series, George wanted badly to nap on the job. Of course, the results were seriously funny, but at least one person took it, well, seriously. Athanasia Leivaditou of NL Studio may have developed the perfect solution for today’s 24-hour-a-day workers: the 1.6 S.M. of Life Desk. This attractive workspace does double duty – as many furniture pieces must when our work and living areas are shrinking – it breaks down into a bed. The piece is not yet available for sale, but CityLab writer John Metcalfe suggests DIYers should be able to duplicate it from pictures. The health issues surrounding sitting or standing for too long are serious. Just as experts suggest sitting workers should break regularly, the answer for standing-desk fatigue may be to take breaks by shifting back and forth between sitting and standing. One expert recommends purchasing an adjustable desk to facilitate this. And while this hybrid may not be as funny as George Costanza’s desk/bed, it still may go a long way toward making our long workdays physically tolerable. |
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| INSURANCE | |
| Be One of the 35 Percent of Businesses That Survive a Fire | |
| According to the Federal Emergency Management Agency, 65 percent of businesses that experience disaster close their doors within one year of the event. Fire is a rare occurrence but It’s a genuine threat to your business. Are you taking the proper steps to protect your business from fire?
You can greatly reduce your risk of fire devastating your business by avoiding fire code violations and maintaining proper preventive measures. To keep your business out of the flames, ensure you are: Following fire code measures such as:
And taking preventive measures, including:
You’ll need the right insurance: It’s important to cover not only the damage to your building and machinery, but your loss of business as well. You’ll need commercial property insurance, which covers structural and equipment damage as well as the cost of rebuilding, and commercial casualty insurance, which covers the loss of revenue while your business is closed. Pay close attention to limits noted in your coverage; you may need umbrella insurance or additional riders to cover specific valuables. Finally, ensure your coverage is sufficient in the event you need to relocate or close temporarily, and as a result, will need to file a business interruption insurance claim. It’s important to discuss any changes in your commercial insurance with a commercial insurance professional who has experience in your industry. Nothing could be more important to your business’s survival than the right policy with the correct limits that will provide you with the coverage that’s appropriate to your particular situation. A commercial agent who is familiar with the industry, and with your specific circumstances, is best able to advise you on the right coverage. Be sure your company remains in the 35 percent of businesses that can face disaster and survive. Your business depends on it. |
Happy Holidays!
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Straight Talk is the Best Talk
Insurance Is a Must When Storing Flammable Material
If your business involves the storage of flammable/explosive material-even if you’re only storing gasoline for use in company vehicles-it’s essential to obtain the insurance coverage you need to protect yourself from damages in case of an event. Here are guidelines to help you navigate the tricky waters involved in storing hazardous material:
Pollution Liability: If you store any potentially hazardous material, including gasoline, you may be required to have pollution liability insurance to protect you should the material leak into a water source or cause a fire or explosion. Cleanup from these events is extremely costly, as are other liability costs, including injuries or death.
It’s important to realize that many products are considered hazardous materials, and you will need the appropriate insurance if you store them. Your insurance advisor will help ensure your limits are appropriate to your business and the policy based on the type, amount, and potential hazards of the material stored.
HOT BIZ TRENDS
Why Straight Talk Pays Off Bigtime in Today’s Workplace
Several years ago, authors James O’Toole and Warren Bennis wrote in the Harvard Business Review that candor improves performance. “Organizational transparency makes sense rationally and ethically, and it makes businesses run more efficiently and effectively.”
Now, as Jack Welch, chairman of the Jack Welch Management Institute, recently told LinkedIn readers, “If there’s one thing that’s in short supply in almost every organization, at every level, it’s straight talk-candor. It’s business’s biggest dirty little secret that in most companies, most people would rather hide or spin the truth than share it, making it hard for everyone to bring the reality of the situation to the surface and fix it.”
While Welch is right, there are signs of a quantum change in attitudes to straight talking, as millennials, who greatly value “authenticity,” bring their “straight talk” expectations to the workplace. Sometimes called being “transparent” and sometimes being “honest,” saying what needs to be said is gaining traction in today’s businesses.
The “culture of candor,” as noted by O’Toole and Bennis, will alter our society. So if you’re not there yet, consider their suggestions: • Leaders should tell the truth to build trust.
- Leaders should empower others people to speak the truth.
- Contrarians should be rewarded.
- Leaders should be willing to admit their mistakes.
- An organizational architecture should be built that supports candor.
- Finally, leaders need to be willing to set information free. Leaders who understand this know that openness and even dissent leads to better information that helps in making better decisions. In today’s workplace, straight talk pays off.
MARKETING
Adblocking Is Changing Your Reality: Is It Time to Rethink?
These days fewer people are reading print newspapers and magazines or even watching TV, so advertisers have turned to the Web and social media to promote their brands, services, and products.
As a result, the online world now imposes commercial messages on viewers who feel forced to watch pop-up ads, banners, beacons, blockers, videos, and scripts before they can access the content they want. Yes, they can click them away, but online ads also come with huge data loads plus tracking cookies and scripts to follow ad viewers without their knowledge or consent.
Indeed, online advertising is having an impact on your potential customers. But it’s probably not the kind of impact you’re expecting. Viewers are angry about online ads…and angry viewers are unlikely to buy your products or services.
There’s more. Fed up with ads that intrude and annoy them, many viewers have taken to installing adblockers to block offensive or irritating content from their devices. Although Google has removed several adblocking apps from Google Play, adblocking extensions can be sideloaded on Android devices. And in mid-September, Apple incorporated adblocking into its Safari browser as part of the iOS 9 operating system.
The wide-scale use of adblockers is sure to grow, and it will continue to have far-reaching effects on businesses. Advertisers are going to have to deal with the new online reality and find different ways to present products and services to consumers, and Web publishers may be forced to find other ways to underwrite their online presence.
Why not start to rethink your marketing strategy before you have to? After all, turning off potential customers may not be generating much business for you now.
INSURANCE
How to Reduce Your Workers Comp Costs
Workers compensation can be a huge line item in your business budget. Rates vary fairly significantly by state, but in 2014, the national average cost of premium per $100 of workers’ wages was $1.85. If proper measures are not in place, this budget line can skyrocket.
Does your business have these measures in place? With a few careful steps, you can reduce the amount you spend on premiums. They are:
Get injured employees back to work – The faster you can get an injured worker back to work, the lower your costs. Modified duty is an important part of this process. When an employee is injured, an evaluation should be conducted to determine what duties can be performed, if the employee can be assigned to a different area, and what modifications are required. Get the worker back to work quickly by reassigning or adapting his or her duties.
Check your classification – Hundreds of classifications exist; if even one worker is misclassified, it can increase premiums unnecessarily. Track projects and employees carefully to ensure workers and work projects are classified correctly. If your construction firm’s work actually involves 10% HVAC maintenance, don’t label your projects 100% construction. It can make a difference. And misclassification can really impact your bottom line.
Pay a deductible – In many states, employers who pay a deductible on workers compensation can reduce their premiums by as much as 25%. Deductibles typically range from $100 to $1,000. Contact your insurance professional to see if your company can benefit from this.
Check your experience rating – Employers who pay more than $5,000 per year in workers compensation premiums receive an “experience rating.” This rating reflects your claims history compared to other companies in your industry. The lower your claims, the lower your premiums. Check with your insurance advisor to ensure your experience rating is correct.
Screen employees – Check with an employee’s previous employers about his or her safety record. Don’t hire a worker who previously has shown a lack of respect for company safety measures.
Put safety first – Having top-notch safety procedures in place will keep your workers compensation costs low. Obviously, the fewer accidents and injuries, the better the premiums. Good safety practices include use of appropriate safety equipment; proper training for lifting, sitting, and other procedures needed in your business; and regular inspections for safety hazards in the layout of work areas and use of equipment. You also may want to consider drug testing, if appropriate.
Communicate the importance of safety to your workers – Conduct regular health and safety meetings to keep everyone educated on proper safety measures and carefully document all procedures to demonstrate safety measures taken.
Make injury reports a priority – If an employee is injured on the job, respond with medical attention immediately and file all necessary paperwork completely and quickly. Delays may cause further injuries, lawsuits, and fines.
A company that takes steps to ensure workers are safe and healthy will not only save on premium costs but will show a commitment to their workers safety. Win-win.
Avoid These Holiday Hazards
Avoid These Holiday Hazards & News You Can Use
This holiday season you want festivities filled with fun, family, and fab food…not insurance claims. Unfortunately, with each holiday season comes the potential for disaster. As you celebrate this season, keep the following in mind. It may not help with in-law issues, but it will, at least, give you peace of mind.
Cooking: According to the National Fire Protection Association, cooking is the leading cause of residential fires in the U.S. From deep-fried turkeys to pie bake-a-thons to reheating contributions to potluck suppers, cooking for the holidays offers the potential for kitchen fires. To improve your odds, closely monitor long cook times and take precautions to avoid spillovers.
Decorations: Festive decorations can also be fire hazards. Don’t leave candles unattended, especially with young kids around, and plan to clean out your fireplace by Thanksgiving. Water your Christmas tree often, don’t use lights with frayed wires, and don’t overload outlets.
Theft: The holidays are busy times for everyone, including thieves. Take steps to protect your property and your finances. Check your credit card statements and remain vigilant for cyber criminals. Protect more expensive purchases by placing them in a safe rather than under the tree. Also, check your homeowners insurance to make sure purchased gifts are covered; for high-value items, you may need to add a rider to your policy.
Finally, if Santa brings you something nice, don’t forget to add it to your home inventory for potential fire or robbery claims. And enjoy your peace of mind this holiday season.
This Month’s Smile: Making a Great Cat Video
Cat videos have the highest traffic ratings on the Internet. Maybe it’s because watching cats de-stresses us. Or it could be because cats are stubborn. Whatever. But if you want to go viral, you need to remember that your cat is the star, producer, and director of the show. You’re just the mildly entertaining human with a camera. To get your video, you’re going to need to remember these three tips inspired by Peter Gerstenzang’s How-to on catchannel.com: 1 Improvise. Your story line will be what your cat wants, not the other way around.
- Forget linear time. See #1.
- Shoot now, edit later. See #1 again. Maybe cat videos go viral because getting a cat to do anything long enough to get the camera and record it is totally newsworthy!
Fighting Speeders in Your City? Traffic Calming May Work
Certain areas have more car accidents than usual. Why? Speed limits are too high, corners are too tight, and intersections are less visible. Short of reconstructing the city, how can officials reduce accidents in these areas? Often they’ll opt for traffic-calming devices.
Traffic calming aims to improve the safety of pedestrians, cyclists, and drivers by slowing down or reducing car traffic, with the intent of changing driver behavior. There are many different options for controlling speeding traffic within a city. Here are a few of the more widely used:
Speed bumps: These are installed humps measuring approximately 3 to 4 inches high (8 to 10 cm) and spanning almost the entire width of a traffic lane. They are effective at slowing drivers, but unfortunately they also slow emergency vehicles. Older pedestrians may find speed bumps a tripping hazard.
Road painting: Murals painted on the street at certain dangerous intersections may slow down drivers, while at the same time beautifying the neighborhood. A form of street art, this solution is inexpensive to install, although it may not weather the test of time. Several North American cities are adopting this approach.
Chicanes and roundabouts: Chicanes are features that create extra turns in the road over short distances. A shallow S turn, for example, will cause drivers to slow down to navigate the curves. Roundabouts are circular intersections. Drivers travel around an island in the middle, yielding to other vehicles already in the intersection and slowing down in the process.
Save on Auto Insurance This Holiday Season
Wherever you live, winter brings the possibilities of storms. In the northern part of the country, whether we welcome him or not, Jack Frost will find his way to our doorsteps, along with ice storms and snow drifts.
In other areas, hurricanes, tornados, and all manner of other nasty weather will cause floods and wind damage. It’s winter again. But it’s also time for seasonal insurance savings.
Two methods of savings are often overlooked by car owners:
Seasonal rides
If you own a car that you don’t intend to expose to the elements this winter, you can save money by reducing your coverage during winter months. Whether it’s a collector car or a sporty coupe with no business on the road in a gale or snowstorm, if it’s not leaving your garage all winter, you can benefit from these savings.
Of course, even in the garage your car remains at risk; you will want it protected against theft or a storm that collapses your garage. But you also don’t want to pay for unnecessary insurance. The solution: remove your liability and collision coverage and maintain your comprehensive coverage. This should reduce your rates and still provide the protection you continue to need.
Home from college
Your student is coming home for the holidays! Providing he or she is studying at a college that is more than 100 miles away, you may already have saved on premiums by removing him or her from your policy.
However, if he or she is now returning, you may want to check with your insurance agent.
If your student’s annual mileage is less than 25% of your car’s total annual mileage, you may be able to switch him or her to an occasional driver; your student remains on your policy but not as a primary driver, and you can save on your car insurance premiums.
Is Your Child’s ‘Stuff’ Covered in the Dorm?
Is Your Child’s ‘Stuff’ Covered in the Dorm?
Your child is leaving the nest. The car is packed to the hilt and pointed toward campus. Among your concerns about tuition, courses, and when you will see your child next, have you considered the contents of your car? Will your student’s belongings be insured in his or her dorm?
While the contents of a dorm room often include secondhand furniture and repurposed thrift store items, among these there will probably be a few pricey electronic devices, gadgets, and gear. Chances are you (and your departing student) have been too busy to consider the importance of insuring these possessions. Homeowners or renters insurance policies usually cover your student’s belongings in the dorm, but here are a few things you may not have thought of:
• Check your policy. Confirm your student’s possessions are covered as part of your homeowners policy.
- Check your limits. Policies sometimes limit dorm coverage to 10% of the total, meaning a policy providing $150,000 coverage for possessions at your residence may only provide dorm room coverage up to $15,000. That may seem like a lot, but consider the replacement cost.
- Take inventory. Before it’s all crammed into the dorm room, make a detailed list, including values. Create a file including receipts for electronics and other high-end items in case you have to make a claim.
- Consider options and alternatives. While your homeowners policy may cover your student’s laptop from theft, it won’t replace it if it’s shorted out by a spilled Frappuccino. For individual items, consider riders or special warranties that protect against such accidental damage. And, of course, items such as heirlooms and expensive jewelry are better left at home. When your child leaves home for college, the experience can be wrenching, exciting, busy, and frustrating. Make sure it’s not a bad one by insuring your student’s personal possessions before you start packing the car.
Batteries – The Next Frontier for a Device Focused Society
No matter what device you depend on-a flashlight, a smartphone, or a computer-it likely won’t work without a battery. Yet the science behind batteries has been relatively underwhelming. Until now.
Much of the key development work on batteries dates back to the 1800s. And since then the lowly battery has powered our society in a relatively low-key way. Now, however, the battery needs to join the 21st century. And investors such as billionaire Warren Buffet are betting its time has come.
As Michael J. De La Merced noted in The New York Times, “By essentially agreeing to swap his firm’s holdings in P&G, worth about $4.7 billion, in exchange for Duracell, Mr. Buffett will gain one of the best-known battery companies in the world.” Plus market share.
While many claim Buffett’s purchase is a tax maneuver, others believe he sees big opportunities in today’s $50 billion global battery market. Batteries represent the new frontier. And Buffet is not alone in noticing.
Tesla, under CEO Elon Musk, recently launched the Powerwall home battery to revolutionize the way we use energy, envisioning a network of home batteries acting as power plants. The product, initially high-priced, will become more affordable and more desirable, Musk believes.
Meanwhile, Science Daily’s Battery News regularly highlights new developments in batteries, ranging from “squishies” made from wood pulp to an ultrafast aluminum battery. These days it seems a lot of important players are charged up over batteries. And they’re betting big.
How to Spice Up Office or School Lunches
Packed lunches are often boring. So what’s a better way to spice up office or school lunches than, well, a little spice?
Caroline Craig and Sophie Missing, authors of The Little Book of Lunch, write in The Guardian: “Our palates have become accustomed to spicy and exotic additions, and we expect the deep, often complex flavor that spices provide whatever meal we’re eating.” And that’s especially true for drab, and sometimes rushed, lunchtime meals.
The authors’ suggestions include harissa, a Tunisian hot chili pepper paste that goes on everything from veggies to chicken dishes. (Refer to the Guardian post at Spicy lunch ideas or check online for recipes.) You can also add spicy oils to noodle soup, or rub leftover chicken with cumin and moisten with mayo for a yummy sandwich. Try marinating any meat with spices, roasting, and wrapping in a pita with lettuce and tomato.
But one word of caution: be sure to use thermoses or cold packs to keep your spicy lunches well chilled. Hummus and olives should be kept cold as well. Let’s face it: No one wants ptomaine poisoning-especially at lunch.
Ensure the Right Coverage: Provide the Right Information
Whether you’re a new home buyer or just reviewing your current policy, it’s important to get the right coverage.
Here’s how:
There’s a lot of important information about your home that you need to share with your agent, and knowing the answers beforehand makes the process easier for both of you. As a new buyer, you’ll be providing the information for the first time, while current policy holders will need to update the information through a regular policy review with your agent.
If you are a new buyer, your agent will need the purchase price, address, year built, and construction type, as well as the square footage and type of foundation. Don’t forget the dimensions of any garage, porches, decks, and basements. Your agent will also need to know if there are any “attractive nuisances” on the property (pools, trampolines, or playgrounds), and the proximity to fire hydrants and the fire department.
As well, you should include information on heat and electricity types, any additional heating, roof type, and plumbing details. Include information on home alarms and smoke and carbon monoxide detectors. If the home was built before 1990, note when the roof was last replaced and the heating updated. Finally, provide details of your previous policy and any previous claims.
If you’re reviewing your policy, consider whether any of the items above have changed. Have you built an addition, had your roof reshingled, added a pool, or changed your type of heating? It’s all important to your coverage. And to you.
How To Protect Your Stuff While in Storage
How to Protect Your Possessions While They’re in Storage
Have stuff you need to store? You’re not alone. According to the Self Storage Association, 10% of American households currently rent some type of storage unit. And many of them overlook a very important factor in storing their possessions. Insurance. Here are some important questions to ask:
Does the storage facility offer coverage?
Most do offer some type of coverage, but ask what damages will be covered (such as floods or fire.) Also be sure to check limits and the type of reimbursement offered. (Is it actual cash value or replacement cost?)
Does my homeowners policy cover my items in storage? Check with your insurance professional on the terms of your policy. Most homeowner policy’s will extend 10% of your personal property limit to storage units.
Damage from mold, mildew, and animals isn’t covered.
Will I be storing particularly valuable items? If so, you may need to add a floater to your policy to cover items beyond the limits of your coverage. You may also want to consider specialized storage for them, such as a safety deposit box.
Does the facility include the following? • Proper security: Fencing, 24-hour video surveillance, fire and flood procedures.
- Climate control: Protection against extreme temperatures, dampness, and precipitation.
- Thorough maintenance: Well-kept facility and grounds and a pest extermination contract.
- Insurance: Your current policy may provide the protection you need, or you can purchase additional coverage from the storage facility.
Being Home Alone on Halloween: Now That’s Really Scary!
Some people are scared of snakes; others are scared of clowns. But that’s nothing: 77% of respondents to a recent www.Houzz.com survey are scared of being alone in an empty house.
Being home alone involves facing your fears…alone. For example, the Houzz survey found that people were scared by all manner of things. But just imagine how much scarier to face these things on your own. Especially on Halloween. Following are some fears uncovered in the survey: • Fifty-four percent of urban dwellers said the possibility of break-ins was the scariest; 46% of respondents who live in rural areas said the same thing.
- Fire was the scariest possibility for 35%.
- Creepy-crawly things-spiders, to be specific-freaked out 24% more than anything else.
- Carbon monoxide or gas leaks-a threat with very scary consequences-topped the list for 22%. If you, too, feel nervous when you’re home by yourself, you may want to stay away from the backyard (especially at night), the garage, and the basement. Those were ranked the three scariest places in or near a house.
Sometimes all it takes is an unidentifiable noise to set off an imagination. Howling winds and creaking floorboards were rated the most fear-inducing noises by survey respondents. What to do on a quiet evening with no one else around? Make sure all windows and doors are securely locked, identify mysterious noises, and put on a funny movie. And for Halloween: Get into the “spirit” and hope your night visitors are all human.
Confusion at the Hardware Store: Light Bulbs Aren’t Just For Light
Just as watches, phones, and household appliances have gotten smarter and become more versatile thanks to technology, so, too, have light bulbs. Lightbulbs are evolving rapidly from objects that simply illuminate dark rooms to smart, multipurpose devices.
Lightbulbs are commonly available today with built-in features that regulate brightness and scheduling. Using a smartphone app or a Bluetooth connection, you can dim these bulbs, turn them off and on, or even direct them to change direction or color; special features allow you to conserve energy and enhance a home’s security.
Beyond that, there are specialty bulbs with built-in speakers that can be controlled with an iPhone or Android device, and bulbs that have integrated Wi-Fi radios, which extend the coverage of a wireless network.
Other ideas that are currently on the drawing board include LED lightbulbs with built-in security cameras and smoke detectors, including a prototype smoke detector that has its own battery so it works even when the light is off or the power is out.
In today’s market, smart lightbulbs are still a bit pricey, and some may also be a little buggy, requiring special apps that are not universal and do not work with all systems. Nevertheless, the market is growing for enhanced lightbulbs.
And as with all things technological, the cost will likely come down and standards will probably be adopted over time. Just imagine: One day we’ll wonder how we ever got by with a bulb that just turns off and on.
Do You Need Landlord Insurance?
Increasing numbers of homeowners are considering turning a second home into an investment property by renting it out. If you’re thinking about this alternative, depending on the type of rental you’re considering, you may need landlord insurance.
If you are planning to rent all or part of your primary residence for a short time (a week or less), you may not need a landlord policy. Often your homeowners policy will cover this situation. However, check with your insurance advisor to see if any additional endorsements are required.
If you want to start a bed & breakfast in your primary residence, you are then considered a business and will need a business insurance policy.
But when you decide to make a second home into an investment property to rent to tenants over the long term, you have become a landlord, and you will need landlord insurance. The policy may be customized to suit your needs and will provide the additional protection you will need as a landlord.
Options typically include:
• Standard structure protection. The home, any other structures on the property, and any owned items on the premises, such as appliances, are covered.
- Liability. As a landlord, you will need greater liability coverage to protect against claims for injuries on the property.
- Fair rental value coverage. This option reimburses you in the event of a disaster where tenants can no longer live in the home and aren’t paying rent. Your loss of rental income is covered while the home is being repaired or rebuilt.
- Some companies offer extra coverage options such as lock replacement and emergency repair service. Because landlord policies provide the higher coverage you need, they typically cost about 25% more than a standard homeowners policy. However, discounts such as multipolicy and new/renovated home discounts may be available. Contact your insurance advisor for the option that’s best for you.
What is an Insurance “Floater”?
Do You Need a Policy to Insure Your Special ‘Floater’?
Are you a musician? Do you collect art? Is your jewelry of the diamond and pearl variety? If so, you might consider a floater policy to protect your prized electric guitar or great-grandmother’s earrings.
Often there are limits to your homeowners insurance policy that will make the coverage insufficient for these types of items. They are considered at high risk of theft or loss because they are easy to move or “float.” The solution is a floater policy or a rider added to your current coverage.
A floater policy or rider usually covers one specific item. Therefore, if you own several high-value items, you’ll need to add multiple riders so that you have sufficient coverage for all your valuables. The coverage is broader than the typical coverage provided by regular homeowners policies and includes accidental losses, accidental damage, and theft.
Of course, you will pay extra in premiums, but if you own something that falls into this floating category, you may be happy you spent those extra dollars. For example, if your musical instrument travels with you, the risk of damage or loss can be fairly high. Carrying a floater policy or rider will ensure protection of this prized possession.
You will most likely be required to have your item professionally appraised to obtain this coverage. Depending on the item, the appraisal cost can range from 20 dollars to several hundred.
With more than one item, this could get pricey, but if your rings slip off on your beach vacation, it could be well worth it.
Music Has Charms…But It Also May Make You Smarter
Whether music wakes you up or puts you to sleep, relaxes your muscles, or stimulates your senses – whatever its effect, it seems that music is good for you, and your brain. Or so researchers say.
While most see music as useful for stress relief or simply for enjoyment, according to University of Toronto psychology professor Glenn Schellenberg, it also achieves a great deal more. Schellenberg writes, “Music lessons in childhood…are associated with small but general and long-lasting intellectual benefits.” And these effects, he says, are not limited to musical ability but appear to improve one’s reasoning ability, language development, and spatial skills.
An article by Corrigall, Schellenberg, and Misura in Frontiers in Psychology explains: “Recent reviews confirm that in addition to being good listeners, musically trained individuals exhibit enhanced performance on tests of verbal abilities, including vocabulary, phonological awareness, reading, and spelling. Music training is also associated positively with performance on tests of spatial abilities and non-verbal reasoning.”
Citing several studies of music’s impact on the brain, the Fun Music Company concludes: “We often hear about an analytical person, like an accountant, being ‘left-brained’ while a more ‘free spirit,’ like an artist or poet, is considered ‘right-brained’…Music is one of the few activities that stimulates both sides of the brain.” And it appears that when the right and left hemispheres are stimulated at the same time, general cognition improves. Best of all, the kind of music you like isn’t important. As long as you enjoy it, apparently your IQ will too.
This Month’s Smile: Bloopers
We’re always amused by other peoples’ mistakes – especially public ones. Here are some great bloopers from blooper-prone sources.
These headlines are from The Media Online:
“Red Tape Holds Up New Bridges”
“Police Begin Campaign to Run Down Jaywalkers”
“Typhoon Rips Through Cemetery; Hundreds Dead”
Collected by teachers from students:
“Sewage is supplied by the city of Harrisburg, and is maintained by a maintenance crew.”
And the medical establishment:
“She slipped on the ice and apparently her legs went in separate directions in early December.”
Deciding between Replacement Cost and ACV
When choosing an insurance policy, it’s essential to understand the difference between replacement cost and actual cash value coverage.
If you ever need to file a claim, it will make a significant difference in your out-of-pocket expenses when you replace your damaged possessions.
The options
With a replacement cost policy, you’ll receive what it will cost to buy the equivalent item today. But with actual cash value coverage, you’ll receive the replacement cost less the decrease in value as the item ages (depreciation).
For example: Your dining set is destroyed in a fire. If you have replacement cost coverage, you will receive what it would cost to go to the furniture store today and buy a dining room set that is comparable in quality to the original. With actual cash value coverage, the insurer will consider the wear and tear of the dining room set and only pay you the depreciated amount. Because it was several years old, depreciation is taken into account. Although it may cost you more to purchase now than what it cost you originally, you’ll receive only the amount the old set was worth if you had sold it on the open market before it was destroyed.
The amount of depreciation is established by the insurance company based on a number of factors including what the item is, its original cost and its age, as well as the wear and tear experienced over the years as assessed by the insurer’s appraiser.
The cost benefit
While replacement cost policies on average cost 10%-15% more, in most cases they will be well worth the difference. The principle behind replacement cost is to allow you to avoid the costs of depreciation. Often replacement cost policies will offer higher limits for coverage. And if all of your belongings need to be replaced, this difference in reimbursement will quickly add up.
Deciding Between Replacement Cost and ACV
Do You Need a Policy to Insure Your Special ‘Floater’?
Are you a musician? Do you collect art? Is your jewelry of the diamond and pearl variety? If so, you might consider a floater policy to protect your prized electric guitar or great-grandmother’s earrings.
Often there are limits to your homeowners insurance policy that will make the coverage insufficient for these types of items. They are considered at high risk of theft or loss because they are easy to move or “float.” The solution is a floater policy or a rider added to your current coverage.
A floater policy or rider usually covers one specific item. Therefore, if you own several high-value items, you’ll need to add multiple riders so that you have sufficient coverage for all your valuables. The coverage is broader than the typical coverage provided by regular homeowners policies and includes accidental losses, accidental damage, and theft.
Of course, you will pay extra in premiums, but if you own something that falls into this floating category, you may be happy you spent those extra dollars. For example, if your musical instrument travels with you, the risk of damage or loss can be fairly high. Carrying a floater policy or rider will ensure protection of this prized possession.
You will most likely be required to have your item professionally appraised to obtain this coverage. Depending on the item, the appraisal cost can range from 20 dollars to several hundred.
With more than one item, this could get pricey, but if your rings slip off on your beach vacation, it could be well worth it.
Music Has Charms…But it Also May Make You Smarter
Whether music wakes you up or puts you to sleep, relaxes your muscles, or stimulates your senses – whatever its effect, it seems that music is good for you, and your brain. Or so researchers say.
While most see music as useful for stress relief or simply for enjoyment, according to University of Toronto psychology professor Glenn Schellenberg, it also achieves a great deal more. Schellenberg writes, “Music lessons in childhood…are associated with small but general and long-lasting intellectual benefits.” And these effects, he says, are not limited to musical ability but appear to improve one’s reasoning ability, language development, and spatial skills.
An article by Corrigall, Schellenberg, and Misura in Frontiers in Psychologyexplains: “Recent reviews confirm that in addition to being good listeners, musically trained individuals exhibit enhanced performance on tests of verbal abilities, including vocabulary, phonological awareness, reading, and spelling. Music training is also associated positively with performance on tests of spatial abilities and non-verbal reasoning.”
Citing several studies of music’s impact on the brain, the Fun Music Company concludes: “We often hear about an analytical person, like an accountant, being ‘left-brained’ while a more ‘free spirit,’ like an artist or poet, is considered ‘right-brained’…Music is one of the few activities that stimulates both sides of the brain.” And it appears that when the right and left hemispheres are stimulated at the same time, general cognition improves. Best of all, the kind of music you like isn’t important. As long as you enjoy it, apparently your IQ will too.
This Month’s Smile: Bloopers
We’re always amused by other peoples’ mistakes – especially public ones. Here are some great bloopers from blooper-prone sources.
These headlines are from The Media Online:
“Red Tape Holds Up New Bridges”
“Police Begin Campaign to Run Down Jaywalkers”
“Typhoon Rips Through Cemetery; Hundreds Dead”
Collected by teachers from students:
“Sewage is supplied by the city of Harrisburg, and is maintained by a maintenance crew.”
And the medical establishment:
“She slipped on the ice and apparently her legs went in separate directions in early December.”
Deciding Between Replacement Cost and ACV
When choosing an insurance policy, it’s essential to understand the difference between replacement cost and actual cash value coverage.
If you ever need to file a claim, it will make a significant difference in your out-of-pocket expenses when you replace your damaged possessions.
The options
With a replacement cost policy, you’ll receive what it will cost to buy the equivalent item today. But with actual cash value coverage, you’ll receive the replacement cost less the decrease in value as the item ages (depreciation).
For example: Your dining set is destroyed in a fire. If you have replacement cost coverage, you will receive what it would cost to go to the furniture store today and buy a dining room set that is comparable in quality to the original. With actual cash value coverage, the insurer will consider the wear and tear of the dining room set and only pay you the depreciated amount. Because it was several years old, depreciation is taken into account. Although it may cost you more to purchase now than what it cost you originally, you’ll receive only the amount the old set was worth if you had sold it on the open market before it was destroyed.
The amount of depreciation is established by the insurance company based on a number of factors including what the item is, its original cost and its age, as well as the wear and tear experienced over the years as assessed by the insurer’s appraiser.
The cost benefit
While replacement cost policies on average cost 10%-15% more, in most cases they will be well worth the difference. The principle behind replacement cost is to allow you to avoid the costs of depreciation. Often replacement cost policies will offer higher limits for coverage. And if all of your belongings need to be replaced, this difference in reimbursement will quickly add up.
Annuities Can Play a Role in a Well-Planned Retirement
Save and Generate Income with Annuities
Recently, the Insured Retirement Institute (IRI) asked baby boomers (individuals born between 1946 and 1964) what trait they most value in an investment product. The answer? Guaranteed income each month (with rate of return coming in second). Interestingly, other than your pension and Social Security benefits, no currently available investment vehicle-besides an annuity-can guarantee lifetime income during retirement.
Annuities offer the best of both worlds: Through annuities, you save and generate income. The lump sum you give the insurance company now (or payments you make over time) will grow, and from this you’ll receive a monthly income at some point; whether sooner or later-it’s your choice.
Since the financial crisis, market volatility has been high and interest rates have been low. As a result, many people are wary of investing. According to the Allianz Life 2014 Market Perceptions Study, four in 10 investors cited “fear of market uncertainty” as a concern that prevents them from investing now for retirement. On the other hand, many said they would put any extra cash they had to invest into a product that offers a balance of growth and protection. In other words, annuities.
Young investors look for guaranteed income, too: As for income, an IRI/Cogent Research study showed that 40% of consumers are extremely or very likely to give up control of some or all investment principal in exchange for guaranteed income payments for life. And that’s true among young investors (ages 25 to 44) as well; half of the study subjects in this age group were willing to give up control of principal for guaranteed income.
Plus, people are happy with annuities, if the IRI/Cogent Research study is any indication. It showed that 73% of annuity owners see annuities as a critical part of their overall retirement strategy, and 45% are extremely or very satisfied with their annuities.
Annuities Can Play a Role in a Well-Planned Retirement
Annuities may sound complicated to many investors, but they can play an important role in a comprehensive retirement plan.
As retirees age, they dramatically increase their risk of running out of money. Many struggle to figure out how to withdraw enough money from their investment portfolios to live comfortably without depleting the principal should they live longer. But allocating a portion of your retirement investment portfolio to an annuity reduces this risk.
As you may know, an annuity is a contract with an insurance company. You give an insurance company a lump sum of money now, or make payments over time. In exchange, the insurance company pays you a monthly stream of income starting now (in the case of an immediate annuity) or at some point in the future (in the case of a deferred annuity).
Note that the insurance company, in determining the annuity payment, factors in the likelihood that some annuity holders will not live as long as other annuity holders. This so-called “risk pooling” allows the insurance company to make annuity payments that are larger than would be possible through a systematic withdrawal plan from your own investment portfolio.
As a result, annuities have two potential benefits: They can reduce your risk of running out of money in retirement, and they can increase the amount of your income stream. Indeed, with the exception of Social Security and pension plans, annuities are the only financial instruments available today that can guarantee you a lifetime stream of income during retirement.
Open Your Eyes to the Importance of Vision Care
Maximize your Pension with Life Insurance
Life insurance in its most basic form covers your loved ones’ expenses after your death-but there are a number of other ways to use this financial product, and they aren’t only for the very wealthy or the financially sophisticated.
Other uses for life insurance
For example, a life-insurance policy can help cover a financial shortfall in a couple’s retirement income. Let’s say you have a pension plan, and it makes up a significant portion of your retirement income. However, like many pension plans, it ends upon your death. Social Security benefits may be insufficient, and the result could leave your spouse with little to live on.
One solution: Buy life insurance to provide for your spouse upon your death. This could be a lump sum that can be converted to an income stream via some basic investments in bonds.
Financing a life insurance policy
The cost of life insurance depends on your age and health. Your agent should be able to give you options. But if you still think life insurance is too expensive after reviewing those options, there are creative ways of financing it. You might, for example, take out a reverse mortgage, then use a portion of the monthly payment to purchase a life insurance policy. This has the added benefit of giving you a roof over your heads while providing for your heirs upon your death.
Peace of mind
The bottom line: Life insurance can be a way to maximize your pension or income from Social Security, plus the peace of mind you’ll have from ensuring that your spouse will receive an insurance payment on your death.
So, when reviewing your retirement plan, it’s a good idea to look at the details of your pension or Social Security benefits and consider how life insurance could be complementary to your plan. Your life-insurance agent can assist you with this.
Open Your Eyes to the Importance of Vision Care
If you’re searching for vision care insurance, the number of results from a Google search is staggering. Where should you begin?
Vision insurance covers or reduces costs associated with maintaining or improving your vision, including eye exams, contact lenses, frames, and lenses. Group eye coverage may be available where you work or through an association such as a credit union. However, a group plan may not be your best choice.
Some require special help
Your insurance agent can provide a tailored solution for your eye care needs. He or she will closely review each available policy’s benefits and make recommendations based on your family’s needs. Your agent can also tell you how often you can visit an eye doctor under your plan, as some plans include more frequent eye exams than the usual annual check-up. Those with chronic health conditions like diabetes or hypertension are more at risk for eye problems and may require a special plan. And if you’re considering refractive surgery to improve your vision, some plans offer reduced rates on this procedure.
If you already have an eye doctor, your agent can help you choose a plan that includes him or her. It’s important to know that by using an optometrist already approved by a plan you’ll likely pay less than you would outside the insurer’s network.
And don’t assume your vision policy covers eye infections or disease. Turn to your health insurance policy for health issues regarding your eyes. Vision coverage only defrays costs associated with vision exams and vision correction.
Because we often don’t consider vision insurance an essential like health coverage, we may overlook this important benefit. Even if you have never needed glasses, as you age an annual eye exam becomes vital to eliminating age-associated eye problems such as cataracts and macular degeneration.
Why not consider vision insurance? Plans can cost just dollars a month.
Insurance Scams: If It Seems Too Good to Be True, It May Be
The U.S. spends more than $3 trillion dollars each year on health care, and as the population ages, that figure will rise. Sadly, this industry attracts more than its share of fraudsters. The Federal Bureau of Investigation, which acts to expose and investigate health care scams, estimates that “tens of billions of dollars” are lost every year at the hands of insurance scammers, causing increases in everyone’s premiums. So how can you recognize a scam and avoid falling victim to one?
Here are two examples:
- One way scammers take advantage of consumers is by offering fake insurance policies. If it sounds too good to be true, it probably is. Working with a licensed insurance agent is the best way to find reliable, legal health insurance.
- Another popular scam is medical discount cards. Those who sell them promise deep discounts on everything from medications to doctor visits, but these promises are empty. In the end, you’re stuck with high fees and no benefits. To protect yourself, make sure you research any claims a discount card offers and contact your local insurance agent for further investigation.
In fact, the best way to protect yourself from scammers is by asking questions. Reputable companies and insurance agents will welcome them and will answer to the best of their abilities. They’ll discuss the pros and cons of different policies and how they might work for you. Scammers? Not so much. As a consumer, be diligent about researching policies or discount cards before buying. It will benefit us all.