Monthly Archives: February 2012

Life comes with surprises; some good, some not so good, but instead of leaving yourself vulnerable to minor or major emergencies; you might want to protect yourself with Disability Insurance.

My colleague Jody Graber, an insurance expert with more than 60 companies on his speed dial is a firm believer of Disability Insurance because he knows first-hand that when you get hurt or temporarily disabled, you still have to pay your mortgage, make the car payments, buy groceries.

Disability Insurance replaces income when you get hurt or sick,” Jody says.

The top three carriers of Disability Insurance that Jody works with are Union Central, Met-Life and Berkshire. There are also different types of Disability Insurance and Jody recommends Non-Cancelable and Guaranteed Renewable Disability Insurance. These policies can never be cancelled by the company and during the policy’s term of coverage, the company can’t raise the policy’s rates. The cost of this type of policy depends on several factors, Jody says, but generally Non-Cancelable  and Guaranteed Renewable Disability Insurance with a 90-day wait and a $5,000 monthly benefit to age 65 would be estimated as follows:

Yearly rate:

Male, age 30: $921.00

Female, age 30:  $1,711.00

Male, age 40:  $1,430.00

Female, age 40:  $2,262.00

The cost for Disability Insurance plans depend on age, occupation, smoking status and how much monthly protection you want. Jody says it’s important to purchase Disability Insurance based on what you need to live on.

Other particulars of Disability Insurance are Own Occupation Insurance where you are disabled and can’t do your job, but you do something else, like become a teacher or athlete – you still get paid.

There is also a disability insurance plan called Group Long-Term Disability,  which is great for small business owners.

“If someone has a business where more than two people work there, I can get them disability insurance with no health questions,” Jody says. “Of course, there are always some variables. What I do with a lot of people is that usually you qualify for about 60 percent of your income. I can do an individual policy and then put a group policy on top of that. Sixty percent is worth more than 60 percent. You don’t pay tax on disability benefits, as long as it’s paid personally. If your place of work covers you with disability, you pay taxes on that, but if it’s your own insurance policy, then you don’t.”

Jody says it’s important to keep at least three months worth of bill payments in a liquid account to cover your bills during the 90-day waiting period until you get your first check. This way, you won’t fall into debt.

“Unless you have money in the bank to fall back on, with Disability Insurance you can get a monthly check and protect yourself and your family when you can’t work,” Jody says. “To me, that’s so important.”

At Muller Insurance in Hoboken, our certified professional insurance agents have the expertise to help you secure the best Disability Insurance coverage to fit your needs. Our customer service is highly-rated and many of our customers have long-running relationships with us (see our customer reviews at www.MullerInsurance.com).

About Roger J. Muller, Jr.

Overseeing Muller Insurance’s day-to-day operations and always improving how the company can better serve its clients, Roger J. Muller, Jr. is a Certified Professional Insurance Agent (CPIA) with 32 years experience in the insurance industry. He’s a travel agent, Certified Real Estate Appraiser (CREA), Certified Environmental Inspector (CEI), licensed Real Estate Broker and licensed Insurance Agent in the following states: New Jersey, New York, Pennsylvania, Connecticut, North Carolina, South Carolina, Florida, Maryland, Washington D.C., New Mexico, Arizona, Vermont, Ohio, Delaware, Maine, Georgia, Virginia and New Hampshire. Roger J. Muller, Jr. is a member of Sigma Xi, a lifetime member of the Hudson River Fishing Association, and Shriners-Salam Temple. A graduate of Ramapo College of New Jersey, Muller is a past board member of the Ramapo College Alumni. He has been a member of the Board of the Hoboken Chamber of Commerce since 2000 and served as  Vice President in 2010.  He is a New Jersey Notary Public and a member of the Young Insurance Agents, NJ. He is a certified member of  the Hoboken Community Emergency Response Team (CERT) that responds to emergencies like building collapses, flooding and acts of terrorism.

Along with the pride of owning your own business comes the responsibility of owning your own business and whether you own a local bistro, jewelry shop or pull people’s teeth, if an accident occurs on your property, you – and your employee – need workers compensation protection and I highly recommend Travelers.

In today’s ever-changing workers compensation climate, it’s critical to have an industry-leading carrier working with you. With Travelers Workers Compensation, you can count on medical and claim professionals to promptly handle, thoroughly investigate and fairly resolve your workers compensation claims, all at a price you can afford.

Travelers Workers Compensation offers:

National Carrier/Multi-State Coverage. .As a National Carrier, Travelers combines local knowledge and expertise with the ability to write workers compensation multi-state coverage.

Flexible Billing Options.  Flexible billing options are available including EFT.

Dividend Plan with 20% Discount. Travelers has a special dividend plan where you can save up to 20% on your premiums.

Early Intervention.  Once a claim notice is received, a case manager will contact you, your employee and the medical provider within 24 hours. In addition to providing contact information, the case manager will discuss the employee’s workers compensation benefits and return-to-work goals.

Workers Compensation Website.  Travelers brings information directly to the injured employee via the Internet. Employees can go online at mywcinfo.com to securely access state benefit information, review their claim payment information, obtain medical self-care tips and find a doctor using Travelers online directory.

Prompt and Accurate Determination of Compensability. More than 3,000 co-located medical and claim professionals thoroughly investigate and fairly resolve claims so that only appropriate claims are paid.

Risk Control. Risk Control’s industry-leading website, www.travelers.com/riskcontrol  is a resource for safety and risk management information; as well as educational and training opportunities.

Claim Reporting Day or Night. 24-hour claim-reporting is available, including internet-based claims reporting with HR date pre-fills.

Network of Highly-Qualified Medical Professionals. Travelers has access to medical network of more than 425,000 physicians and 10,000 hospitals across the country. Country-wide presence leverages jurisdictional knowledge and local medical relationships.

Early intervention, advanced claim and medical technology, an appropriate return-to-work strategy and network savings all play a part in helping to keep loss costs under control.

At Muller Insurance in Hoboken, our certified professional insurance agents are up-to-date with Travelers Workers Compensation plans. Our customer service is highly-rated and many of our customers have long-running relationships with us (see our customer reviews at ww.MullerInsurance.com).

 About Roger J. Muller, Jr.

Overseeing Muller Insurance’s day-to-day operations and always improving how the company can better serve its clients, Roger J. Muller, Jr. is a Certified Professional Insurance Agent (CPIA) with 32 years experience in the insurance industry. He’s a travel agent, Certified Real Estate Appraiser (CREA), Certified Environmental Inspector (CEI), licensed Real Estate Broker and licensed Insurance Agent in the following states: New Jersey, New York, Pennsylvania, Connecticut, North Carolina, South Carolina, Florida, Maryland, Washington D.C., New Mexico, Arizona, Vermont, Ohio, Delaware, Maine, Georgia, Virginia and New Hampshire. Roger J. Muller, Jr. is a member of Sigma Xi, a lifetime member of the Hudson River Fishing Association, and Shriners-Salam Temple. A graduate of Ramapo College of New Jersey, Muller is a past board member of the Ramapo College Alumni. He has been a member of the Board of the Hoboken Chamber of Commerce since 2000 and served as Vice President in 2010.  He is a New Jersey Notary Public and a member of the Young Insurance Agents, NJ. He is a certified member of  the Hoboken Community Emergency Response Team (CERT) that responds to emergencies like building collapses, flooding and acts of terrorism.

Even after death we have to pay bills like mortgages, college tuitions and car payments and that’s one of the reasons we purchase Life Insurance. It protects your family after you’re gone and can give you peace of mind while you’re still walking this good earth.

Life Insurance policies come in two categories: 

Protection policies that pay your family a lump sum when you pass away, covering funeral costs, mortgage payments, college tuitions, monthly bills, etc.

Investment policies that grow capital through the premiums you pay and come in three types:      Whole Life, Universal Life and Variable Life policies.

Whole Life policies protect the insurer with a cash reserve to pay a future death benefit claim.

Universal Life policies offer permanent insurance coverage with more flexibility in premium payments
and the possibility to grow a bigger ‘nest egg’.

Variable Life policies feature a guaranteed death benefit and cash value that can be invested in other accounts.

My life insurance “go-to-guy” is Jody Graber an expert in the field with 25 years of experience and more than 60 insurance companies on his speed dial.  Jody says that since your lifestyle changes every few years, it’s important to review and make adjustments to your life insurance policy accordingly.

“Just because you bought a life insurance policy doesn’t mean you can then forget about it,” Jody says. “Age, health, job, and life changes (like having babies) – all these factors affect your policy which has to be adjusted accordingly. If I’m making $100,000 when I first purchase a life insurance policy and now I’m making $250,000 and something happens to me, I need more coverage.  I buy a house, I have a mortgage, I need more coverage.”

Any life insurance policies that are 2-3 years old, when they run out, the company makes you pay more money, Jody says. If you buy a 20-year term policy, you’re out of luck in the 21^st year. The rates are going to be much higher.

“I see five times higher or better,” Jody says. “So if you bought a policy in 1992 and now it’s up in 2012, the rate increase will be about five times the amount.”

Usually you can’t take a term policy and change it, but your insurance agent can look at other suggestions, programs that are better, like finding a better policy with a different company, Jody says. What’s important to keep in mind is that life is constantly changing and your life insurance policy needs to keep up with your lifestyle.

“The bottom line is that your life insurance policy has to be reviewed,” Jody says. “You want to update it.”

If you don’t have a life insurance policy, now’s the time to talk to your insurance agent about getting the protection you need. At Muller Insurance in Hoboken, our Certified Professional Insurance Agents can assist you in choosing the right life insurance policy that fits you and your family’s lifestyle. Our customer service is highly-rated and many of our customers have long-running relationships with us (see our customer reviews at www.MullerInsurance.com).

About Roger J. Muller, Jr.

Overseeing Muller Insurance’s day-to-day operations and always improving how the company can better serve its clients, Roger J. Muller, Jr. is a Certified Professional Insurance Agent (CPIA) with 32 years experience in the insurance industry. He’s a travel agent, Certified Real Estate Appraiser (CREA), Certified Environmental Inspector (CEI), licensed Real Estate Broker and licensed Insurance Agent in the following states: New Jersey, New York, Pennsylvania, Connecticut, North Carolina, South Carolina, Florida, Maryland, Washington D.C., New Mexico, Arizona, Vermont, Ohio, Delaware, Maine, Georgia, Virginia and New Hampshire. Roger J. Muller, Jr. is a member of Sigma Xi, a lifetime member of the Hudson River Fishing Association, and Shriners-Salam Temple. A graduate of Ramapo College of New Jersey, Muller is a past board member of the Ramapo College Alumni. He has been a member of the Board of the Hoboken Chamber of Commerce since 2000 and served as Vice President in 2010.  He is a New Jersey Notary Public and a member of the Young Insurance Agents, NJ. He is a certified member of  the Hoboken Community Emergency Response Team (CERT) that responds to emergencies like building collapses, flooding and acts of terrorism.

Why Insure With Chubb?  For over 120 years Chubb has been providing quality protection for home, auto, commercial, and more. It is one of the leading insurance carriers in the U.S. and an A++ rated carrier by the AM Best Insurance Guide. Chubb is known for its speedy and accurate claims services as well as its financial stability.

When it comes to protecting your home, Chubb’s Masterpiece policy provides coverage suitable to your lifestyle. Chubb will determine the replacement cost coverage of your claim by having one of their appraisers inspect your home. The appraiser will take photographs and measurements and will look at all the key features of your home. By doing this, the appraiser helps determine the replacement cost of your home coverage. One key coverage in Chubb’s Master policy is the Extended Replacement Cost Endorsement.

Once the inspection has been completed, your home will qualify for the extended replacement cost endorsement. That means, should a loss occur, Chubb will pay the cost to have your home repaired or rebuilt to its original beauty even if the cost exceeds the coverage limit at the time of the loss. If you decide not to rebuild at the current location, Chubb offers you a cash settlement up to your policy limit.

When it comes to your home’s interior valuables, if you have damage to your interior and you have the Replacement Cost Coverage Endorsement, Chubb will insure most items for the amount it costs to replace them today without deducting for depreciation.

If you have some valuables scheduled on your policy such as jewelry, fine art, etc, and a loss occurs, Chubb will settle the claim for what  the insuring amount is at the time of the loss without requiring you to replace your item for like, kind and quality at one of their jewelers. Another key point with Chubb, it will not deduct for depreciation nor your deductible. It is a cash settlement instead.

As to Chubb liability protection, standard homeowner policies’ liability limits are mostly $100,000 to $300,000. With Chubb you can  go as high as $50,000,000 if qualified. When speaking to your agent, please inform them what limit will be the best to protect your assets.

Another key coverage is Additional Living Expense. This means that in the event your home cannot be lived in due to a covered loss and you need to find temporary residence, Chubb will cover the cost for you to maintain your normal standard of living while you are  away from your home. Some standard policies will provide only a percentage which should be outlined in your policy at the time of the loss.

The Chubb Masterpiece policy can be tailored to meet your insurance needs. Please consult with your insurance agent for further details.

As to discounts, Chubb is offering a 30% discount on its auto insurance if you have your homeowners’ insurance with Chubb – and if you have continuous coverage. Chubb also offers discounts for a central burglar and fire alarm installation in your home.

If you insure your vehicle with Chubb, coverage is based on agreed value. Agreed value is the amount you will receive in the event of a total loss, the deductible is waived and no adjustments for depreciation.

For a free Chubb quote or to obtain further information, contact us at Muller Insurance in Hoboken. Our certified professional insurance  agents know all the coverages Chubb offers and our expertise will help you secure the best insurance coverage for your home, car, and  business. Our customer service is highly-rated and many of our customers have long-running relationships with us (see our customer reviews at www.MullerInsurance.com).

About Roger J. Muller, Jr.

Overseeing Muller Insurance’s day-to-day operations and always improving how the company can better serve its clients, Roger J. Muller, Jr. is a Certified Professional Insurance Agent (CPIA) with 32 years experience in the insurance industry. He’s a travel agent, Certified Real Estate Appraiser (CREA), Certified Environmental Inspector (CEI), licensed Real Estate Broker and licensed Insurance Agent in the following states: New Jersey, New York, Pennsylvania, Connecticut, North Carolina, South Carolina, Florida, Maryland, Washington D.C., New Mexico, Arizona, Vermont, Ohio, Delaware, Maine, Georgia, Virginia and New Hampshire. Roger J. Muller, Jr. is a member of Sigma Xi, a lifetime member of the Hudson River Fishing Association, and Shriners-Salam Temple. A graduate of Ramapo College of New Jersey, Muller is a past board member of the Ramapo College Alumni. He has been a member of the Board of the Hoboken Chamber of Commerce since 2000 and served as Vice President in 2010.  He is a New Jersey Notary Public and a member of the Young Insurance Agents, NJ. He is a certified member of  the Hoboken Community Emergency Response Team (CERT) that responds to emergencies like building collapses, flooding and acts of terrorism.