Do I need life insurance? I’m Young!

 

Buying life insurance when you are young is probably one of the smartest financial moves you can make! Life insurance is the ONE insurance that WILL pay off – because we all die!

With that said, it’s important to understand that the only insurance that will be paid off is one called “permanent” (v. term) life insurance. A permanent policy lasts all your life and is the least expensive when you are young and healthy. There are all kinds of permanent policies – so give me a call and we can discuss which one might be best for you at this time in your life. Young and healthy folks can usually get a wonderful, “whole lifetime” policy that fits well within your budget.

Here are 5 good reasons why a young person should consider a life insurance policy:

 

1. Mortgage protection

We already talked about matching your mortgage loan with a life policy above. There are even products out there that “diminish” over time – so that the protection decreases as the mortgage balance goes down. These are extremely inexpensive but could drastically change your life if you (or your spouse) passed away unexpectedly. Imagine the grief your partner (and children) would experience on TOP of your death if they ALSO lost their house during the same time! Life insurance that pays off the house is the BARE minimum type of insurance that any responsible home owner carries. With that said, I would NOT advise you to buy typical mortgage protection offered by the bank. When you buy your own, portable term insurance, you can take it with you when you move and keep the same, low rate as when you initially applied.

2. You have debt (and your parents are co-signers)

Many young folks have to take out loans in order to finish college. If your parents were kind enough to co-sign for you, please make sure you (or they!) take out a life insurance policy for the same time limit (term). It would be tragic if you died and your aged parents had to grieve AND go bankrupt. This can easily be avoided with a very reasonable policy. So as an example, if you have a student loan of $30,000 for 10 years – you can get a term loan for the same amount ($30,000) for 10 years. This type of loan insurance would be less than $10 a month. Well worth the investment and peace of mind.

3. You make a lot more money than your sweetheart

Let’s face it – often one partner makes a lot more (or less) than the other person in a relationship. Often the “bread winner” stays in the same career and in the job market and eventually makes a LOT more than the partner that stayed home with the kids. But that doesn’t mean the SAH (stay at home) mom/dad isn’t valuable! If the SAH person passes away, who is going to take care of the kids and help keep the household stable during the grieving period? And if the money-earner passes away, your family is going to be in SERIOUS financial ruins if the breadwinner doesn’t have an excellent policy in place. Sure – most work places offer a small life insurance (enough to get you buried and pay your salary for a year or two). But what then?! Don’t force your family into moving back with mom/dad or to another state. Buy life insurance. It’s very reasonable when you are young and healthy.

4. You are YOUNG. You are HEALTHY. You is smart… You is kind…

I know you might be repeating that line from the movie in your head right about now… but seriously, life insurance is the LEAST expensive (and you can lock in the rate for a very long time or forever!) when you are young and healthy. Chances are you WILL buy life insurance sometime in your life, especially if you are going to buy a house and/or have children. So get some now for your WHOLE life. Even if it’s the minimum (which is usually about $150,000 for a permanent policy). That way you HAVE it while you can GET it and get it at the bargain basement price. You can always add more as you add kids and homes. Not to mention – you *may* not always be so healthy.

5. Time is on your side.

When you are in your twenties (or thirties, perhaps even your forties) retirement and the end-of-life seems a long time away, and it is! You have the possibility of TIME to build up a very nice nest egg using the proper life insurance that builds up cash. Today’s policies range from very safe (very low interest) to investment grade (risky, but with the potential to earn a lot!) tied to stock indexes (like the DOW or S&P500).

It’s smart to seek out the advice of a professional insurance agent and let us help you explore the various options that might work best for you and your budget. Give me a call today and let’s set up a time so you can learn your option.

 

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Shopping For Car Insurance 101

Shopping for car insurance can be a daunting task, which is why many people stick with a policy that may be more expensive than they should be paying.  It does take some time and effort to get good, accurate quotes for your insurance, but the payoff can be lower rates and in some cases even better coverage.  If you are ready to shop for car insurance, here are the things you need to know.

 

The Internet Isn’t The Only Way

With new online quoting systems, you can easily obtain a lot of quotes in a short period of time.  This is a great advance and a perfect starting point for gathering some basic rate information.  The main problem with this is that the quotes are not always as accurate as they should be.  Online quoting systems can give you a basic idea of what you can expect to pay with each company, but they don’t usually gather all of the necessary information from you to provide the most accurate quote.  Start with internet quotes, but be prepared to dig a little deeper.

 

Know Your Coverage

When you start looking for auto insurance quotes, you should go in knowing what type and level of coverage you want.  Unless you can provide this information, your quotes can come in at varying levels of coverage based on either state minimums or the most popular coverage levels that company offers.  These may not be the right levels for you.  Spend some time learning about your coverage and what you actually need.  Chatting with an agent is a great way to determine this.  Armed with the right coverage levels, you won’t waste time on quotes that aren’t right for you.

 

Get Quotes In Writing

It is a lot easier to compare and contrast insurance quotes when you have them in writing in front of you.  Rather than simply writing down a premium number over the phone, ask to have the breakdown of the coverage and rates emailed or faxed to you so that you can look them over in detail.  When you have several quotes in writing it’s easier to spot discrepancies between the quotes.

 

Check Company Reputations

Before taking that quote that sounds like a dream come true, it’s a good idea to take a look at the company’s reputation and track record.  The internet is a great source for consumer opinions and reports and can help you to find out which companies are known for great customer service, and which fall short.  It’s also good to know which companies have a reputation for settling their claims quickly and to the satisfaction of their customers.

Remember that you are the consumer, and like any other major purchase, finding the right auto insurance takes a little time and investigation.  If you are willing to do the research, you are likely to be a lot happier with your

 

 

Texting While Driving Increases Your Accident Risk by 23x

texting-while-driving

Oh, it’s tempting to respond to a buzz, tweet, chime or ding from our cell phones while driving – but doing so increases your risk of an accident a staggering 23x!

 

Think you can safely text while driving? Think again.

The National Highway & Transportation Administration (NHTSA) reported that texting and driving slows a driver’s judgement and reaction time in the same way that drinking two beers impairs a driver.

In both cases, drivers tend to follow too closely behind other vehicles, are not able to brake on time or have difficulty weaving or merging into traffic.

Consider the facts:

While we all may have put ourselves at greater risk by using our cell phones while driving, Teenagers are at the greatest risk of texting-related accident. Besides being the least experienced group of drivers, they are also among the heaviest users of texting apps. It can simply be too tempting for a Teenager to ignore a buzzing, tweeting, chiming or dinging phone.

With the risks of driving increasing every day as more and more people allow themselves to be distracted while driving, having the right insurance is vital for your protection. We’ll be happy to review your current policy and make sure you have the best possible value in price and protection.

JASON ARCHER

300 Interpace Pkwy, Ste 400B

Parsippany, NJ 07054

(973) 394 – 0212

jarcher@farmersagent.com

https://agents.farmers.com/nj/parsippany/jason-archer

6 Things You Never Want the Quick Lube Guys to do to Your Car

lube-guys

It’s best and most cost-effective to change your own motor oil and filter, but if you need to stop in at a quick lube-type place, be prepared!  It is frequently the case that while you are waiting in the lobby that the technician informs of you certain situation(s) with your car that you really should take care of now. But keep in mind: It is a situation designed to put pressure on you.

Lots of pressure.

They will tell you that your manufacturer recommends a particular service, and  that you are overdue, right on it, or coming right up on it. These services typically focus on five high-profit, probably-not-needed services that they want you to pay for right now!

  1. Replace your cabin air filters
  2. High mileage oil
  3. Fuel system cleaning
  4. Brake fluid flush
  5. Transmission flush
  6. Transfer case or differential fluid change

Knowledge is power. So let’s take a deeper look at each high-pressure service.

 

  1. Replace Your Cabin Air Filter

Don’t fall for this one. This is one of the most successful car repair scams on the market. It goes like this: The mechanic tells you that your air filter is filthy and shows you a dark, dirty filter. But is that YOUR filter?  Some places keep a dirty filter on hand and try to make you think it’s yours and get your to buy a new one. Always make sure the filter you’re seeing is actually from your car! If you are convinced that it really is your filter, you’ll pay far too much for the filter they are selling you. You can buy filters on Amazon.com and watch a YouTube video to find out how easy they actually are to replace. You’ll save a ton.

  1. Upgrade to “High Mileage” Oil

    Quick lube places almost always recommend a High Mileage motor oil, which is supposed to provide better protection for your engine, and greater profits for the quick lube place. Auto experts say that simply starting with good quality synthetic motor oil will provide superior protection from the start, and that you never will need better oil as you get to higher mileage levels.

Use high-quality synthetic oil from the start. If you are driving a used car that you purchased, start using these same sorts of synthetic oils for maximum protection. You don’t need to pay for “high mileage” motor oil.

  1. Clean the Fuel System Cleaning

    It is true that over time, fuel injectors can get clogged up by deposits and residues in gasoline, and that certainly will have a negative effect on the combustion of the fuel. Yes, fuel systems need to be cleaned and while there are good fuel additives that you can add to a tank, those additives are not sufficient by themselves to keep the fuel system entirely clean.

Cleaning out the fuel system requires a special machine, a specific set of tools and an industrial-grade cleaner. These tools and cleaners are found in high-quality repair shops, but it is unlikely that a quick lube facility will have the specialized equipment necessary to do the job right.

Of course the quick-lube guy will insist that you need to get it done. But even if you really, really do, take it to a pro for a second opinion. Don’t get that work done at the quick lube.

 

  1. Flush the Brake Fluid

    Manufacturers generally do not recommend flushing the brake fluid as regular or semi-regular service. Flushing the brake fluid should be done if an inspection reveals that there is debris and rust in the master cylinder of the braking system – which indicated a broken seal or hydraulic cup.

    A simple inspection of the brake fluid is all that you need. Brake fluid that is clear, sits, at the proper level in its reservoir, and does not smell burnt means you have a healthy braking system. If the color is black or rust-colored, there is a problem – but be aware that a simple flushing will not repair problem. If you encounter dark, rust-colored, or burnt-smelling brake fluid, get your car to a professional mechanic right away. Don’t trust it to the quick-lube guys.

  2. Flush the Transmission Fluid

Read your owner’s manual to see if and when your manufacturer recommends flushing and replacing the transmission fluid and filter. Don’t take the quick-lube guy’s word on the subject.

There is simply too much to say here, so let’s jump right to the bottom line: Read your owner’s manual. But If you have a high mileage vehicle and the quick lube shop has recommended a fluid flush, get a second opinion from a drivetrain expert before proceeding…or you may pay the consequences.

  1. Change the Fluid in the Transfer Case or Differential

    Like the transmission fluid we just discussed, transfer cases are an area you don’t want to touch.

Different manufacturers use different fluids and each fluid is uniquely formulated for the respective transfer case application. There is just too much room for error when it comes to filling the unit with the wrong fluid. Never let a quick lube place touch your transfer case or differential. If you have any questions about either, talk to a drivetrain specialist or a dealership.

 

We’re happy to provide these tips for protecting your car, and your pocket book.

As insurance professionals, we can provide additional protection by making sure you have the proper coverages for your needs. Talk to us today about a quote for your auto(s).

 

JASON ARCHER

300 Interpace Pkwy, Ste 400B

Parsippany, NJ 07054

(973) 394 – 0212

jarcher@farmersagent.com

https://agents.farmers.com/nj/parsippany/jason-archer

New Jersey Teachers $100 Gift Basket Giveaway!

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📝📝 📝📝     ATTENTION TEACHERS     📝📝📝📝

Start the new school year off right by entering into our drawing to WIN a Gift Basket filled with $100 worth of school supplies. Even if you are not a teacher, but you would like to nominate a teacher, you are more than welcome to enter your favorite teacher into our drawing.  There will be 5 WINNERS and they will be announced at 5:00PM on October 20, 2016 on our facebook page: The Archer Group Facebook Page.  Please click, Back to School $100 Gift Basket Giveaway! to be entered into our drawing.

Thanks,

Jason Archer

Owner/Founder of the Archer Group – Farmers Insurance Agency

https://agents.farmers.com/nj/parsippany/jason-archer

Hagerty Car Insurance NJ

classic car social media pic

Did you know Farmers Insurance joined forces with Hagerty, the world’s leading insurance provider for classic vehicles and host to the largest network of classic car owners?  Visit  My Website or call me at 973.394.0212 if you are interested in classic car insurance.  

Hagerty doesn’t just offer classic car insurance, but it also offers insurance for trucks, motorcycles, tractors, military vehicles, automotive tools and spare parts.  There are many perks for getting insurance with Hagerty such as flexible usage. Meaning, there is no restriction on mileage (as long as the vehicle is not a daily driver or backup vehicle), allowance for youthful drivers 18 years of age and above and permissive use by the owner for friends or relatives to drive the vehicle. 

In addition to flexible usage, Hagerty also has in-house classic experts. Meaning, their adjusters receive 80 hours of training in classic vehicle repair every year and have parts
specialists on staff whose only job is tracking down parts. Clients choose the repair shop or get paid to do the work themselves.

Interested in Hagerty Plus? Hagerty Plus is a comprehensive full-service roadside program designed specifically for classic cars and motorcycles. There are three optional levels of Hagerty Plus Roadside Service and Benefits which include:

  • Guaranteed flatbed towing with soft straps
  • 24 hours a day, seven days a week coverage in the U.S. and Canada
  • Dispatch for lockouts, battery jumps, tire changes, and emergency fuel delivery
  • Annual subscription to Hagerty magazine
  • “Ask Hagerty” service for any collector car related questions
  • Membership helps support the Hagerty Education Program and the Historic Vehicle Association

 

What To Do In An Accident

Being involved in a car accident can be a stressful, but it is extremely important to stay calm and follow some crucial steps to help get you back on the road.

I’m including this brief video that outlines the important steps that you need to follow if you’ve been involved in an accident.

Please click on image below to view video or Click Here

How to Protect Your Most Treasured Possessions

Do you own expensive jewelry, antiques, fine art, guns, furs or collectibles of any kind?

If so, it’s important that you are aware that these items may not be covered with your Standard Homeowners Policy. This brief video explains how adding a “floater” to your existing homeowners policy can help make sure your valuables are protected.

Please click on image below to view video or Click Here

Home Inventory Checklist

Creating a Home Inventory Checklist may not be at the top of your to-do list.
However in the event that your home becomes damaged or destroyed in a fire, windstorm, flood, theft, or other disaster, a Home Inventory List will be one of your greatest assets.

Please click on image below to view video or Click Here

Identity Theft

Did you know that everyday there are 28,000 victims of identity theft in the US? Yes, the unfortunate reality is that every 3 seconds, someone is the victim of some sort of identity related crime.

We’ve made this brief video to give you some tips on how you can protect you and your family against identity theft.

Please click on image below to view video or Click Here