Health Insurance Save 25%

Health Insurance

Buy ONLY what you need

Find a comprehensive plan that your doctors accept.
You may be paying for benefits you will never use.
Your premium may be based on old information.
Save 25% with the right policy.

By Dan Keppel, MBA, $19.95. Just published: http://www.amazon.com/Health-Insurance-ONLY-right-policy/dp/1480125083/

MO returns $133 million in unclaimed funds to owners—where are yours?

Since January 2009, MO Treasurer Zweifel has returned $133 million to more than 418,000 account owners. There are thousands of bank box contents too.  "Every day my Unclaimed Property staff talks to owners of Unclaimed Property in an effort to return accounts large and small," Treasurer Zweifel said. "There are 58 accounts with $100,000 or more in them waiting to be returned.” To find out if you have Unclaimed Property in any state, you can visit http://www.unclaimed.org/.

Is the Wal-Mart life insurance right for you?

Issued by MetLife, the insurance firm is offering Wal-Mart shoppers a pre-paid, one-year $10,000 to $25,000 life insurance policy that costs, on average, about $100 or so. For Wal-Mart shoppers aged 18-44, a $10,000 policy costs $69. But for consumers aged 60-65, the policy can cost up to $429. This policy is expensive when compared to $100,000 benefit for $7 a month from insurers with the same rating as MetLife. MetLife is taking advantage of impulse buying and high lapse rates that assure a high profit business. If you need real coverage, use our Guide: http://www.amazon.com/Life-Insurance-Need-right-ebook/dp/B009MA9K78/ 

Are your retirement investments better off with Obama?

Chart says not since FDR’s 238% gain has your portfolio done so well as during Obama’s first term. Will Americans vote their pocket book or the promises of the “king of off-shoring jobs”? Your Choice: GOP rulers tend to end up in disasters and wars.
http://www.nytimes.com/2012/10/21/your-money/wall-st-may-not-cheer-but-obamas-been-good-for-stocks.html

Can you read your 401k retirement plan statement?

New rules require plan admin. to say clearly how much it costs you and what you are paying for. However, your plan disclosure may have failed to disclose certain types of compensation because the service provider didn't think it counted under the rule. They also need to state their fiduciary (acting in your best interests) status. You need to understand the total amount that the servicer is taking from your account. If you earn 8% and they keep 3% total of all charges, fees, commissions, etc, you are only adding 5% to your account. If your mutual fund loses 8%, you must pay their 3% from your funds. You can then decide if you need to switch investment options to lower the fees or start your own retirement fund. If so, we can help you decide: http://www.amazon.com/401k-IRA-Tax-FREE-Tax-Deferred-retirement/dp/1475057938/

David Lerner fined for ripping customers off

The Financial Industry Regulatory Authority said it ordered the firm to pay $12 million in restitution to clients who bought shares of a nontraded real estate investment trust known as Apple REIT 10. FINRA also fined David Lerner Associates more than $2.3 million for charging unfair prices on municipal bonds and collateralized mortgage obligations. You don’t have to pay unfair prices.

Save $3,000 on fees, commissions and charges every year: Do It Yourself Personal Finance by Dan Keppel.  Your financial team--agent, banker, broker, advisor and money manager--have been taking at least $3,000 every year from you. They only make finance seem difficult so you keep paying.

http://www.amazon.com/Do-Yourself-Personal-Finance-commissions/dp/1480156493 

Study says we kill our own investment gains

Two professors examined 40 studies of how we invest. Read the report on the missteps of individual investors. They detailed how individual investors make every mistake in the book and wind up either losing money or badly trailing no-brainer index funds.

Among the various sins that investors commit — and which cost them dearly — are:

•Trading too much, incurring big fees that more than wipe out their gains

•Selling winners while clinging to losers

•Focusing too much on individual stocks and not diversifying their portfolios enough

•Falling for stocks that get extensive media coverage or are trading near their highs

•Engaging in thrill-seeking behavior that confuses investing with speculation or gambling

•Trading or investing in financial instruments they don’t understand

•And, finally, despite all of the above, believing in their own superior investing ability

Only 1% of traders do well the study says. We try to mimic the Wall Street myth of the active trader—the Gordon Gekko character—with our own money. Wall Street actually only trades with OPM—other people’s money. Obviously the way to succeed is to do the opposite: Buy and hold a diversified group of stocks for longer periods. The easiest way to do that is with a low-cost index fund. Some of our members average over 10% a year by doing just that. http://www.amazon.com/What-Really-About-Building-Wealth/dp/146790287X/

Are you taking your RMDs on time?

If you own an IRA or retirement plan of any kind, the IRS wants its taxes. You have to take money out even if you don’t need it. The rule is here:  http://www.irs.gov/Retirement-Plans/Retirement-Plans-FAQs-regarding-Required-Minimum-Distributions:

“Required Minimum Distributions (RMDs) generally are minimum amounts that a retirement plan account owner must withdraw annually starting with the year that he or she reaches 70 ½ years of age or, if later, the year in which he or she retires. However, if the retirement plan account is an IRA or the account owner is a 5% owner of the business sponsoring the retirement plan, the RMDs must begin once the account holder is age 70 ½, regardless of whether he or she is retired.”

How much is your RMD? IRS table uses your life expectancy. Ask your trustee or use forms:http://www.irs.gov/pub/irs-pdf/p590.pdf#page=110. If you don’t need $ now, create an emergency fund or legacy for your grandkids: http://www.amazon.com/Give-your-Grandchild-000-Lifetime/dp/1456433105/

Romney tax plan eliminates 3 of our tax deductions to pay for $5 trillion gift to rich

The latest component of Romney's plan for individual income taxes would create a ceiling on deductions as part of a three- part set of limits on tax deductions, according to a campaign aide who spoke on condition of anonymity on Oct. 3 to provide details on the options. The aide said there would be a $17,000 cap on deductions and credits, while Romney suggested a ceiling of $25,000 during the Oct. 16 debate.

A second ceiling would apply to personal exemptions (now $3,800 per person) and a third cap would apply to the tax break for employer-provided health insurance.  If you have health care from your employer, you would need to pay tax on it.

Obama claims these changes raise taxes on the middle class and do not cover the $5 T loss in revenue. Romney claims the balance comes from economic growth. However, Bush tax cuts did not produce economic growth. They actually reduced our growth. http://www.businessweek.com/news/2012-10-24/deduction-cap-means-romney-s-math-adds-up-tax-group-says

Finding the right doctor/hospital is difficult and we are not comfortable with the one we have

Only half of Americans have felt that they have made the right choice when selecting a doctor or hospital, according to a new study by http://www.healthgrades.com/. Taking the time to carefully review a hospital's performance can directly influence outcome of care – and statistics show that, in some cases, can mean the difference between life and death. Our Guide helps you find the best for your needs: http://www.amazon.com/Health-Insurance-ONLY-right-policy/dp/1480125083

US corporate heads ask Congress to due its duty—cut spending AND raise taxes!

CEOs from more than 80 major U.S. companies are pressing Congress to reduce the federal deficit by raising taxes and cutting spending. The CEOs said the solution requires a combination of higher taxes and reduced government spending including on entitlement programs such as Medicare and Medicaid. They also seek federal investment in infrastructure and math and science education. "What it really comes down to is if we still have the political will to be a great country," Dave Cote, chairman and CEO of Honeywell International Inc., said in a statement.

SCAMS           “Only the little people pay taxes.” Leona Helmsley

We taxpayers are still backstopping the big banks reckless trading.

"The managers feel we are the suckers in their poker games of high stakes." There still is no firewall to prevent another financial bailout. “Very large institutions do have advantages in the marketplace when they are not allowed to fail,” Mr. Stern said. “This perception leads to excessive risk-taking, not because management says ‘let’s take more risk,’ but the way things are priced in the marketplace encourages more risk-taking.” Gary H. Stern, former president of the Federal Reserve Bank of Minneapolis and co-author, with Ron J. Feldman, of the prescient 2003 book “Too Big to Fail: The Hazards of Bank Bailouts.”

http://www.nytimes.com/2012/10/21/business/citigroups-torch-has-passed-now-find-a-knife.html?_r=0

Who owns your account now? 

Verizon is transferring some of its pension obligations to Pru. Verizon is using the agreement to lower risks related to pensions while improving its financial profile. It follows General Motors in paying Prudential to assume the risk that market returns are inadequate or that beneficiaries live longer than expected. Transferring obligations can reduce swings in earnings tied to securities and relieve companies of the need to manage large pools of money. “What Verizon is doing is what a lot of companies are considering,” John Butler, a senior analyst at Bloomberg Industries, said in an interview. “They are offloading the risk to Prudential.” 

Amerigroup merged with WellPoint. Amerigroup will head the combined company's Medicaid managed care business.

Northwestern Mutual changes back into an insurer from a thrift to avoid Fed oversight. Many insurers became Savings and Loan Holding Companies during the financial meltdown in order to have available extra cash at 0%. Now they have to put more capital. 

Sun Life Financial, a Canada insurer, is seeking a buyer for a U.S. annuities business.

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Save 40% on homeowner's insurance

Homeowner’s Insurance

Beware: False coverage Save 40% with the right policy

=Your home may be classified or rated incorrectly.
=You may be paying for endorsements you don't need.
=Your premium may be based on land which isn't covered.
=Save 40% with the right policy.
The key question in homeowner's insurance is:
Are you willing to pay more every year to replace your home exactly as it is at the time of a total loss, even though a total loss is very rare?
Most of the things you would think are covered, are NOT.

By Dan Keppel $19.95

Just published https://www.createspace.com/4025494

FL uninsured die without care

Nearly 44 Floridians die each week because they do not have health coverage, according to Families USA, a consumer advocacy organization. That's more than six people a day. That should be enough to prompt Gov. Scott to accept the federal government's offer of three free years of expanded Medicaid coverage.

MI could cover 600,000 uninsured and save $1 billion with ObamaCare

Michigan could save nearly $1 billion over 10 years—while extending comprehensive health insurance to more than 600,000 Michigan citizens—if the state expands Medicaid eligibility beginning in 2014 as provided for under the Affordable Care Act according to a CHRTstudy. 

Is a 529 college saving plan right for you?

Tax-FREE savings and no withdrawal penalty—that is the promise of the 529 plans. The bonus: if your state gives you a tax deduction for contributions! The unseen caveats are the costs. Unless you pick a state plan with no commissions and low-cost investments, these plans are not for you. Now the unbiased rating agency, Morningstar, has checked all 529 plans and picked 4 to head your list of finalists:

Alaska's T. Rowe Price College Savings Plan; the Maryland College Investment Plan; Nevada's Vanguard 529 Savings Plan; and the Utah Educational Savings Plan.

Four other plans earned silver-medal honors from Morningstar. Those 529 plans are sponsored by Arkansas, Michigan, Ohio and Virginia.

THE REST: Nineteen plans were rated bronze, 33 "Neutral" and four "Negative."

You don’t need to live in the state to use their 529. Some states (Arizona, Kansas, Maine, Missouri, and Pennsylvania) give you an income tax break on 529 contributions made to any state's plan. Our Guide helps you save http://www.amazon.com/Insiders-Guides-Discount-Financial-Services/dp/143480593X/

CA to raise rates 85% on long-term care owners over two years in 2015

CalPERS is preparing to impose a rate hike of up to 85 percent on most of its long-term care insurance policyholders. The rate hike would begin in 2015 and would be phased in over two years. It would affect three-fourths of the 150,000 CalPERS members who've bought long-term care policies, which pay for stays in nursing homes, convalescent homes and so on. CalPERS hopes the rate hike will "stabilize" the long-term care insurance program, which has been hit with higher-than-expected claims and lower-than- expected investment returns. The program gets no taxpayer funding. There are alternatives to LTCi: http://www.amazon.com/Long-term-Care-Insurance-better-alternatives/dp/147006877X

CA drivers with Mercury may see a 4% increase in rates

Mercury General is raising auto insurance rates by $63 million on its customers, an average 4% rate hike for 990,000 Mercury auto insurance policyholders in California. Is it time to shop for lower priced coverage? Use our Guides to lower all insurance costs: http://www.amazon.com/Vehicle-Insurance-Beware-Double-Coverage/dp/1480027634/

CA moving poor children to Medicaid to save $73 million

The state is eliminating its Healthy Families program and moving those children into the state's Medicaid program to save a projected $73 million a year. CA contends that the shift will help streamline children's health care and reduce government complexities. But state lawmakers and children's advocates are concerned about the possibility of having children's medical services disrupted.

Our democracy at risk—The rich tell employees to Vote GOP or lose job!

Koch Industries, the company that paid for MN Gov to strip unions of rights, sent a voter information packet to 45,000 employees of its Georgia Pacific subsidiary earlier this month. In it was a letter, dated Oct. 1, from Koch Industries president Dave Robertson implicitly warning that "many of our more than 50,000 U.S. employees and contractors may suffer the consequences" of voting for President Obama and other Democrats in the 2012 elections, a list of conservative candidates the company's political action committee endorses and a pair of editorials: one, by David Koch, supporting Mitt Romney, and the other, by Charles Koch, condemning Obama. Other employers do this too.

It is not illegal but is it healthy for our democracy?

Is it healthy to let the rich give unlimited dollars to candidates’ superpacs?

Foreign corporations are among the largest contributors to Romney’s Pacs: Credit Suisse Group AG ($554,066) and Barclays PLC ($403,800).

Cost of living increase taken by Part B increase

Monthly Social Security benefits for more than 56 million retirees will increase 1.7% in 2013, less than half the 3.6% increase that they received this year. Retirees received no cost-of-living adjustment in either 2010 or 2011. Despite the increase scheduled for next year, most Social Security recipients may not receive bigger benefit checks as the increase could be mostly offset by higher Medicare Part B premiums, which typically are deducted from Social Security benefits.

Study says making Medicare a voucher would cost $1200 extra

If the shift had taken place in 2010, and Medicare enrollees had tried to stay in the same plans, the percentage of enrollees who would have had to pay $100 or more in additional premiums per month could have been 50 percent in Nevada, 57 percent in New Jersey and 77 percent in Florida. http://www.kff.org/medicare/upload/8373.pdf

Which candidate offers you the best tax deal?

Are you better off under Obama or Romney—tax wise? There are some details that let you figure out what is best for you. Take you pick:

http://www.kiplinger.com/columns/washington/archives/obama-romney-tax-plans.html

What is the impact on seniors of the Romney/Ryan budget?

The House Republican Budget would make a number of significant changes to Medicare, Medicaid, and numerous other programs that benefit seniors. We lose free screening, drug benefits, etc. Check your district:

http://democrats.energycommerce.house.gov/index.php?q=news/new-reports-show-district-by-district-impacts-of-ryan-budget-on-seniors

Save on Title insurance

A Re-Fi or home purchase requires title insurance to protect the lender against “defects” (mistakes/holds) in the title (deed or builder) holder. “Defects” are anything that prevents clear ownership transfer. Defects include liens (unpaid bills) on the property, outstanding taxes, outstanding claims or lawsuits. With computerization, defects don’t happen often but this protection is required to close the loan. You pay for the insurance in one premium at closing. Instead of paying the lawyer or lender to obtain this contract, you can do it yourself and save. You may also have the title company do the closing and save the cost of attorney review/closing. Instead of paying for a lawyer to review the documents and charge $20 per FedEx, have a title/closing firm like http://www.entitledirect.com/ handle the closing electronically. Shop and save http://www.easytitlequote.com/index.asp

SCAMS           “Only the little people pay taxes.” Leona Helmsley

Romney says sick people already have health care – no need for reform

Mt. Vernon, Ohio, Mitt Romney told the crowd that health reform was unnecessary for people with chronic conditions: "Actually, we had health care in America before Obamacare came along. And we still have health care in America."

Companies can go bankrupt and renege on employee promises made years ago. 

GM and Chrysler/Fiat did it. Kodak asks court to end retiree medical benefits.

S&P cited low interest rate environment in reducing the ratings of Genworth Life and Genworth’s core U.S. life operations to ‘A’ minus rating.

Who owns your account now?

Highmark will acquire Saint Vincent Health System

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Do you need Lawsuit insurance?

Lawsuit Insurance Do you need a lawsuit liability policy?

If your child ever displays their anger on an Internet site, you may get hit with a lawsuit for $millions. It happened to couple in GA and they must pay $750,000 after the award was reduced. You may be sued in an accident through no fault of your own. Do you have $100,000 for the lawyer to defend you? You can save on the cost of this excess or umbrella liability policy by shopping insurers.

Saved 62%

A New Jersey member found that her car insurer charged $210 for the same $1 million umbrella policy that her home insurer, State Farm, charged $556 for. She saves $346 a year. Your auto carrier usually gives the best price for liability coverage.

Use our Guide to pick the right coverage: http://www.amazon.com/Lawsuit-Insurance-need-right-policy/dp/1480061123/

Romney will lower rates but raise tax payments by cutting our deductions

He pledges to “lower taxes on middle-income families,” without giving high earners another tax cut or adding to the U.S. budget deficit. He can do that, he says, by capping the value of tax breaks available to any individual taxpayer. His tax plan, however, would upend financial planning for millions of middle-class households, denying them thousands of dollars in annual deductions, thus raising their taxes but lowering the "rate."

Recently, Romney said taxpayers might be able to take a total of no more than $17,000 in deductions each year. For middle class families in high tax states, this is the kiss of death. Many in NJ, NY, and CA pay over $17,000 in mortgage interest (average homes cost $500,000) and $12,000 in property and state income taxes. Some give $10,000 to charity.

Romney tax cuts will cost $5 trillion over 10 years. The limit on deductions do not “come close to paying for the $5 trillion,” said Gale, who co-authored a study of Romney's tax plan for the non-partisan Tax Policy Center in Washington.

http://www.businessweek.com/news/2012-10-05/romney-vow-to-lower-middle-class-taxes-at-odds-with-cap

Most reliable used vehicles

Eight out of 10 of the models on our list of most reliable used vehicles from the 2008 and 2009 model years come from Japanese brands. JD Power and Consumer Reports: http://autos.yahoo.com/news/10-most-reliable-used-cars.html

Vehicle Insurance:  Beware: Double Coverage by Dan Keppel

Your education and occupation may raise your premium.

Save $22,000 with the right policy.

Your policy duplicates at least three coverages.
The same 2-car policy can cost $1,400 or $3,600.
Create a Wealth Reserve^TM to self-insure small risks.
Accumulate $100,000 in 15 years to protect your future.

http://www.amazon.com/Vehicle-Insurance-Beware-Double-Coverage/dp/1480027634/

Is a variable annuity right for you?
AM Best, the insurer-rating firm, and its sponsor, AXA Equitable, are encouraging agents to use these complicated and expensive products for younger clients. Even though the SEC, securities regulator, has warned agents and clients about the suitability of VA s

(sec.gov/investor/pubs/varannty.htm), insurers pay high commissions to lock in investable dollars early. Young people have much better investment options without the high costs and lack of liquidity of a VA. Look before you leap:  http://www.amazon.com/Not-Buy-That-Annuity-Guaranteed/dp/1466494573

Congress wealth up 5%, American people’s wealth down 39%

The Washington Post reported the median net worth of the current Congress rose 5% during the recession while it fell 39% for the average American. The wealthiest one-third of lawmakers saw their net worth rise 14%. Some key findings of the report are:

• By 2010, the median estimated wealth for members of the House of Representatives was $746,000; for senators it was $2.6 million.
• There was virtually no difference between the wealth of Republicans and Democrats in 2010. Just six years earlier, the net worth of Republicans was 44% higher than the net worth of Democrats.
• 28% of Congress, or 150 members, reported earning more income from outside jobs and investments than from their Congressional salary of $174,000.
• 27% of Congressional members saw a decline in their net worth between 2004 and 2010.
• 73 lawmakers sponsored or co-sponsored legislation that could benefit businesses or industries that involved those Congressional members or their families.

No wonder they don’t want to raise taxes.

Government of the rich people, by the rich people, for the rich people, shall not perish from the earth. Lincoln was wrong. There are two nations.

Paul saved $4,567 by moving his IRA to low-cost Vanguard

Paul used Vanguard low-cost index and managed funds to gain 25.5% so far this year and saving $4,567 in fees this year. His IRA had about $300,000 in 2011 when he moved it because he was not happy with his advisor’s fund returns. He now pays about 0.3% instead of 1.3%. He has diversified his investments in preparation for retirement by using the 10 Vanguard funds suggested by our members. He has about $375,000 now. He read:http://www.amazon.com/Lies-Financial-Advisors-Told-alternatives/dp/1478281545

GOP Rep claims science is wrong yet votes on Science, Space & Technology issues!?

Georgia Rep. Paul Broun said in videotaped remarks that evolution, embryology and the Big Bang theory are "lies straight from the pit of hell" meant to convince people that they do not need a savior. Broun also said that he believes the Earth is about 9,000 years old and that it was made in six days. Was he just playing to audience or for real?

Problem: He sits on the House Committee on Science, Space and Technology and makes decisions affecting our future.

Congress hears study that finds lower taxes just makes rich richer: NO “trickle” down

The study shows that lower taxes DOES NOT increase growth: Both houses held a joint hearing on what they called the “treatment” of capital gains. It has been a one of the Ten Commandments of the GOP: Lower taxes produce greater growth. But now a study of growth and tax rates since 1950 shows “no statistically significant correlation” between the two. The study included a 5 year lag also. There is no trickle down growth.http://www.bloomberg.com/news/2012-10-04/study-finds-benefit-is-elusive-for-low-capital-gains-rate.html

Is your state pension in trouble?

States don’t like to pay for their promises and usually don’t have to. NY is the exception. Is your future pension just a broken promise? Are unions able to help or is this like Social Security? You paid in advance but, too bad, things change? See the 10 worst cases.

http://online.wsj.com/article/AP644ef2750d8248e393bfa995b8787524.html

Are your 401k fees too high?

The new disclosures—some 8 or more pages—seem to be obscuring the facts. There are fees for everything and mutual fund companies must list them all; which might be the problem. There are so many different kinds and it is hard to know how to reduce the ones you can control. Typically, your employer is not paying for any of them so they don’t have an incentive to reduce or eliminate them. They signed you up to pay for bookkeeping, telephone response, mailing statements, etc. You can reduce the management fees, 12 b1 fees and other expenses of the management company. Compare your plan fees to other company plans usinghttp://www.brightscope.com/. To understand what the fee names mean, seehttp://www.sec.gov/answers/mffees.htm. Most people are better off, making more money, by using low-cost funds. Paying more does not guarantee you earn more. In fact, the opposite is true according to many studies. Over time, paying high fees can take 40% of your accumulations. Many have found our Guide helpful: http://www.amazon.com/Wealth-Without-Wall-Street-Commissions/dp/1442168137.

NJ tries to give uninsured purchasing power despite Christie

New Jersey Senate approved legislation to create a health-coverage purchasing pool for the uninsured, after Republican Governor Chris Christie vetoed a similar measure in May. States that miss a Nov. 16 deadline to submit plans will have their exchanges designed by the federal government. New Jersey has 8.8 million residents, with about 1.3 million uninsured from 2009 to 2011, according to U.S. Census data.

Canada government certified meds less than HALF cost

Buying meds on the Internet from Canada can be safe using a CIPA.com approved pharmacies. EG: Abilify  15mg Tablets   30 tabs $227 at http://www.polarmeds.com/ but $592 at CVS. Both require script by real Dr. 

Is a “living trust” right for you?

Seniors are the target for this $2,000 sales pitch to “avoid the high cost of probate.” The Prepaid legal sales person then hands the paperwork to the deferred annuity person who clears another $2,000 or more by locking up savings in a 14 year contract. Most people will never need to probate their will since most assets are not governed by it. An IRA and life insurance as well as POD and joint accounts, and homes are usually paid directly to a beneficiary or joint owner. Most people also forget to change the title of their assets to the living trust so it is not used. Taxes can’t be avoided with this trust. Contact an estate lawyer for your specific situation, like property in multiple states.http://www.nytimes.com/2005/11/20/realestate/20home.html

States may tax your own money in a joint account

PA, NJ, NE, MD, IA, KY and IN will impose tax on your money if a joint owner of the account dies. The states consider the money split equally among the owners. A Financial Power of Attorney can be used in place of putting your grown child’s name on the account for convenience. This avoids the tax and allows any person you designate to obtain money when you are not able to make the withdrawal for emergencies. NOT LEGAL ADVICE

http://money.howstuffworks.com/personal-finance/personal-income-taxes/inheritance-tax.htm You can make a POA yourself at http://www.nolo.com/legal-encyclopedia/durable-financial-power-of-attorney-29936.html’

SCAMS           “Only the little people pay taxes.” Leona Helmsley

Amex fined for misleading customers 4 ways—Refunds to ¼ million customers

New Fed regulator, CFPB, fined American Express $14.1 million for promising $300 on signup cards then reneging. http://www.consumerfinance.gov/pressreleases/cfpb-orders-american-express-to-pay-85-million-refund-to-consumers-harmed-by-illegal-credit-card-practices/

Romney’s debate promise—pre-existing condition coverage—is already law

Health-policy specialists say Romney’s plan is the same protection already in a 1996 U.S. law and doesn’t show how it would help at least 36 million sick people at risk of being denied coverage.

Why don’t we all have the same health coverage as Congress and the President?

They pay for private plans like any large employer. The plans provide great care as you can wonder. We taxpayers pay for about 75% of the costs of about 300 choices according tohttp://www.factcheck.org/2009/08/health-care-for-members-of-congress/. There is no reason why all the uninsureds could not be offered the same deal as the our ‘representatives.’ After all, don’t they work for us?

http://www.opm.gov/INSURE/HEALTH/INDEX.ASP

Foreclosure rescue fraud charges against 530 in NY alone

More than 73,000 homeowners were victims of various frauds for which charges were filed during a year-long crackdown, including “foreclosure rescue schemes” that take advantage of those who have fallen behind on payments, the Justice Department said. The U.S. brought charges against 530 people over schemes that cost homeowners more than $1 billion, NY AG Holder says. 

MN curbs misrepresentations by Embassy of Heaven

State insurance regulators have ordered the Oregon- based Embassy of Heaven Church and its leader Paul Revere to stop making misrepresentations related to insurance in Minnesota, saying a type of auto insurance it promotes through Mutual Assurance is bogus.

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Life Insurance: Save $17,970 if you need it now

Life Insurance: Do You Need It? Save $17,970 with the right one! 

By Dan Keppel, MBA

Why do you need life insurance now?

Are you protecting your family and assets well?

Are you paying more than you need to pay?

In the 21^st century, you can purchase all your financial needs at a substantial discount, some to 300%. I will show you how to buy value—quality at the right price. Avoid commissions and fees. Build your own wealth not that of your insurer.

You may be paying more premium than you need to—prices vary by over 300%. You may be paying for things in your policy you don't even want. You are probably using companies that are in business to serve their agents and their stockholders more than to serve you. The same policy can cost $983 or $384. Just $19.95 at Amazon:  http://www.amazon.com/Life-Insurance-Need-Save-right/dp/1480002178/

Middle class is withering away—47% don’t pay tax and 67% corporations don’t pay tax

Since 2009, wealthy Americans’ incomes have continued to pull away from the rest of society. That shift represented the equivalent of $884 billion moving from the middle class to the most affluent. In the aftermath of the recession, income inequality in the U.S.reached a new high in 2011, Census Bureau data show. The public rejects explicit calls to share or redistribute wealth even while supporting policies that do so, including raising taxes on the wealthy or maintaining programs such as Social Security. The top 1 percent of families garnered 93 percent of the income gains in 2009 and 2010, according to an analysis of Internal Revenue Service data by Emmanuel Saez of the University ofCalifornia, Berkeley. http://www.businessweek.com/news/2012-09-28/wealthy-americans-gain-even-as-republicans-decry-redistribution

Is your mutual fund right for you?

With expenses of 4.16%, Midas Magic fund has lost money while the fund owners have done well. While many funds are reducing their costs due to the competition from Vanguard and others, some fund owners/managers want more. They offer incentives to sellers no matter how badly the funds perform. If your funds are lucky enough to earn 11%, the market averages, you would receive less than 7% with the same risk. This does not include any broker fees and commissions. So now you are really in the hole.

And really, what are the odds your fund will beat the averages?

There were only 40 days from 1950 to 2007 that produced 70% of all the S&P 500 index’s total returns. That is 40 out of 14,528. You will lose money if you trade mutual funds in the hope of finding the right one, according to John Bogle, Don’t Count on It, p 169. Count on the averages to make you a Patient Millionaire: https://www.createspace.com/4000350

10 cars that cost you more in an accident

The IIHS Status Report, published on Sept. 20, contains a table of personal injury protection (PIP) claims for cars manufactured between 2009 and 2011. It also ranks the 10 most dangerous cars on the road by PIP claims. Check yours.  http://www.cnbc.com/id/49169227/10_Bad_Luck_Cars

Vehicle Insurance:  Beware: Double Coverage 

by Dan Keppel

Save $22,000 with the right policy.

Your policy duplicates at least three coverages.
The same 2-car policy can cost $1,400 or $3,600.
Create a Wealth Reserve^TM to self-insure small risks.
Accumulate $100,000 in 15 years to protect your future. 

http://www.amazon.com/Vehicle-Insurance-Beware-Double-Coverage/dp/1480027634/

Feds accuse some annuity sellers of cramming inappropriate products on vets

According to the GAO report, some planners were placing senior veterans in products that may not be age-appropriate because the veteran may lose access to funds needed for future expenses. For example, the GAO reports that some organizations may sell deferred annuities to an applicant that would make their funds unavailable to them during their expected lifetime without facing high withdrawal fees. The premium investment is not received for several years and withdrawing funds from it early can be very costly. This kind of annuity would probably not be desirable for an older veteran. Vets should not buy an annuity before considering the alternatives. Annuity sellers are not unbiased about alternatives even though accredited by the VA. See commission-less alternatives first:http://www.amazon.com/Not-Buy-That-Annuity-Guaranteed/dp/1466494573/

CA law controls long-term care insurance premium increases

AB 999 will help protect consumers from excessive premium rate hikes in long-term care insurance by modifying the rate development process. CA will ask insurers to prove a rate request. The buyers of LTCi still need to consider price changes BEFORE they buy since more than half of all policies are dropped before benefits are paid:http://www.amazon.com/Long-term-Care-Insurance-better-alternatives/dp/147006877X

Which President is best for stock market growth?

Reagan? Bush? No, not a republican.

Fortune shares the facts:

http://finance.fortune.cnn.com/2012/09/19/obama-romney-stocks/

Romney plan will hit middle class with loss of mortgage interest/property tax deductions

Romney plan to cut taxes is designed to spur economic growth, though a Congressional Research Service study concluded that previous rate-cutting had “little association” with saving, investment or productivity, although it did exacerbate the rich-poor gap.Corporations already have more cash on hand to build new plants than ever before. They are building the plants overseas or storing the cash overseas where there is no tax. They don’t need a tax break. Romney’s 1% don’t need a tax break—they are “investing” in tax avoidance schemes, not new industry for new jobs. See how Romney did it below.

FREE online home inventory makes ‘proof of loss’ a click away

The Insurance Information Institute's free online home inventory software. This application makes creating and updating your home inventory easy and efficient. And with the free, secure online storage you will have access to your inventory anywhere, any time. You never know when a disaster may strike, but you can be prepared with an up-to-date home inventory. https://www.knowyourstuff.org/iii/login.html

Vanguard will lower costs again

Through the first nine months of the year, Vanguard, thanks largely to its focus on low costs, attracted nearly $1 of every $3 invested. Vanguard is changing the benchmarks for some funds and ETF in order to use lower-priced index benchmarks.

CA offers to run pensions for small employers

First state-run pension program for nongovernment workers targets firms that don't offer 401(k)s. This will be done at lower cost than most businesses can afford. The law requires companies to contribute 3 percent of a worker's salary to a retirement account. Workers will be enrolled in the program unless they choose to opt out. Employers with 5 or more employees will be offered the funds run by the California Public Employees' Retirement System, the biggest U.S. pension with the lowest costs. Cost is the best predictor of investing success according to rating firm Morningstar: http://www.amazon.com/New-American-Retirement-System-Tax-FREE/dp/1461030072/

Employers must provide a summary of benefits and coverage on our health plans

SBC must contain specified information regarding the plan's coverage, including: cost-sharing (deductibles, coinsurance, copayments and the like) for each category of benefits; exceptions, reductions and limitations of the coverage; renewability and continuation of coverage provisions; and coverage examples explaining how benefits will be provided under the plan for specific health conditions. The SBC must also contain certain other statements and contact information. Most employers have not complied. See details:http://www.lexology.com/library/detail.aspx?g=908d77ad-2e5f-4b3c-b89e-a2c97fe99b8e

GOP voter registration scandal repeats 2004 problem firm

Republicans are playing defense over voter-registration fraud. Some organized Republican voter-registration drives have virtually ground to a halt as Republicans fired Nathan Sproul’s firm, Strategic Allied Consulting, in seven battleground states. SAC is now under investigation for voter-registration fraud by Florida in as many as 10 counties involving at least 220 suspect forms. GOP paid $13 per name for new GOP-only registrations. It’s such a mess that the Republican Party of Florida has filed an elections complaint against the Strategic Allied Consulting, which then turned around and bashed…. The Republican Party of Florida. Another company of Sproul’s, in 2004, was accused in Nevada, Arizonaand Oregon of elections irregularities, including allegations that employees destroyed the newly collected registration forms of Democratic voters to keep them off the rolls.  InColorado, a hidden video captured one Strategic employee trying to register only Republicans. This is illegal.

RomneyCare would leave 72 million without health care—Two Americas: Red/Blue

A new study released by the private foundation, The Commonwealth Fund, has revealed that 72 million Americans would be uninsured by 2022 if Republican presidential nominee Mitt Romney wins the election and has his health care plan enacted. The study also found that Romney's plan would cost Americans more money. People who choose to buy health insurance on their own would pay 14 percent of their income, compared to only 9 percent under the ACA, The Commonwealth Fund stated. The Congressional Budget Office and the Joint Committee on Taxation added that repealing the ACA would cost a federal budget deficit of $109 billion between 2013 and 2022. The study estimates that 30% to 37% of TX residents would be uninsured compared to 3%-10% in MA.

SCAMS           “Only the little people pay taxes.” Leona Helmsley

Romney avoided tax on $100 million and gave it to kids without gift tax

He avoided gift and estate taxes by using a type of generation-skipping trust known as an “intentionally defective grantor trust” IDGT which permits wealthy people to establish dynasties. The whole reason for the estate tax was to outlaw perpetual wealth.

If Romney had given the cash, like most people, he could have owed a gift tax at a rate as high as 55 percent. The trust's value isn't counted in the $250 million that his campaign cites as Romney's net worth. By dodging the estate and gift tax, they are able to build dynastic wealth. The Obama administration estimates that closing the loophole Romney used would bring the federal government $ billions in the coming decade. One observer said that a single billionaire could pay $500 million more in estate taxes if these trusts are shut down by the Obama administration. What deficit? http://www.bloomberg.com/news/2012-09-27/romney-i-dig-it-trust-gives-heirs-triple-benefit.html

Who owns your account now?

The Hartford's individual life insurance business to Prudential Financial.

IAN

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