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How Much Life Insurance Do I Need?

You’ve probably seen one of those commercials. Did you know that we can find you a $250,000 life insurance policy for just $10 per month? The price sounds great. And, without giving it much thought, a quarter of a million dollars probably seems like a great deal of money. And maybe it is the right amount for you. Maybe it’s more than you need. But, maybe it’s less than you really need. How do you decide? There are several factors to consider when calculating the appropriate amount of coverage. Debt Load For [...]

2020-07-24T21:53:13+00:00June 26th, 2018|

Don’t Forget to Properly Name Your Beneficiaries

When applying for a life insurance policy, you will be asked about naming primary and contingent beneficiaries. In my experience, those applying for the policy spend very little time thinking about the answer to this question. And, in reality, for most people at the time of application, there may not be much to think about. “It should go to my spouse.” Yes, it should. If you are to pass away before your spouse. But what if the situation becomes much more complex? First, let’s review a couple of terms mentioned above. A [...]

2020-07-24T21:43:46+00:00June 21st, 2018|

This Isn’t How Your Parents Bought Life Insurance

The best way for me to tell you how easy it has become is a case study. A good friend of mine wanted to get life insurance, but he and his wife never had the time to sit down with me and go through the paperwork. They have 3 kids, multiple commitments in the community, and jobs. Something had to give. Enter electronic applications. We had already agreed on a quote via email and phone so I knew what policies they wanted and how much. I filled out the application on my [...]

2018-12-10T15:09:02+00:00June 19th, 2018|

Insurance Policies Business Owners Often Overlook

Business owners have a full plate. Dealing with clients, employees, and the overhead takes up a great deal of time. When it comes to reviewing your insurance package, oftentimes it comes down to a simple question: “what does the price look like this year compared to last year?” It certainly is tempting to be concerned with only the price. However, as times change, your insurance program needs to change, too. Business owners today are exposed to risks that didn’t necessarily exist when the business was started or those risks have evolved over [...]

2021-07-28T16:27:38+00:00June 14th, 2018|

Planning to Transition the Farm

In the United States, family farms account for about 98% of farms. Additionally, these farms produce about 85% of the nation’s agricultural output. Many of these farms have been in the family for decades, for generations. They are, without question, the foundation for our nation’s food supply and beyond. However, a USDA study in 2012 found that 89% of these family farms do not have a succession plan in place and about 70% of the farms were likely to change hands in the next couple of decades. The average age of a [...]

2020-07-24T21:41:39+00:00June 12th, 2018|

Why Business Partners Should Have a Buy/Sell Agreement

Joe and Bob were brothers and owned a feed mill together. They were successful and the business grew each year. Joe’s wife, Kathy, and Bob’s wife, Susan, were close. The two families often did holidays and other events together. Things were going well. It was always their intention to pass ownership of the feed mill to their children. Joe and Kathy had two sons, each of whom expressed interest in running the business someday. Bob and Susan had a son and a daughter. While the son seems to have interests elsewhere, the [...]

2020-07-24T21:40:47+00:00June 5th, 2018|

What is Umbrella Insurance?

In today’s home and auto insurance world, many people are looking for the cheapest and quickest option. Give me the lowest limits with the fewest options and get me through this. In the short run, this may seem like a good idea. But, if you are involved in a claim, and especially if you are found to be at fault or liable in a claim, this bare-bones method may come back to haunt you. In addition to examining your limits of basic coverages and optional coverages within your home and auto policies, [...]

2020-07-24T21:38:51+00:00May 31st, 2018|

My Term Life Insurance Policy is About to Expire… Now What?

If you are like most people who purchase life insurance, you likely chose to purchase term life insurance over a permanent policy such as a whole life policy or universal life policy. There are distinct differences between term life insurance and permanent life insurance and reasons to purchase each. If you have a term policy, there will come a time that it will “expire” and decisions must be made. Does a Term Policy Ever Expire? Technically… yes. But it probably doesn’t expire (meaning that you have no option to remain covered) until [...]

2020-07-24T21:15:48+00:00May 24th, 2018|

Fire Danger and 9 Volt Batteries – One Easy Fix Could Save Your Life!

Fire danger caused by standard household batteries is very real. The fire danger that can be caused by common household batteries is probably something that most of us don’t even think about. Many households have a “junk drawer somewhere in the house. If you are storing 9-volt batteries in your “junk” drawer, this could be a recipe for disaster. With the terminals so close together on a 9-volt battery, it only takes a small piece of metal, like a paperclip or keys to make a connection between the positive and negative terminals. [...]

2018-12-10T15:16:38+00:00February 14th, 2018|

Cheers to Santa Coming to Your Town

Every community, organization and holiday event seems to have its own Santa Claus— a jolly volunteer behind the flowing white beard and garbed in that familiar red and white suit. Such is the case with Jeff Ruddell, a member of the Gannon Associates family working out of its Tunkhannock office. Jeff has been playing Santa for “15 years at least” and was again the main attraction (for kids anxious to get on Santa’s good side anyway) at Tunkhannock’s recent Christmas in Our Hometown event. Gannon was the corporate sponsor, along with Travelers, [...]

2018-12-06T11:54:21+00:00December 21st, 2017|
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