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

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Are you bank fees higher?

Are your bank fees higher?

In Bankrate's 2012 Checking Survey, almost every checking fee they follow went up, with some bank fees rising 25% or more. The average monthly maintenance fee for a noninterest-bearing checking account rose to a record high $5.48, an increase of 25% over last year. The minimum balance to avoid a monthly maintenance fee has nearly doubled in the last two years, reaching $6,117.80. Making matters worse, if you don't make that threshold, you'll be on the hook for a $14.75 monthly maintenance fee.
ATM fees have become routine, especially for using other bank ATMs.  "Our recent survey showed that 72% of the largest credit unions still offered free checking." Members buy only what they need using the “tricks of the trade” and pay zero fees:http://www.amazon.com/Insiders-Guides-Discount-Financial-Services/dp/143480593X

Long-term care insurance and alternatives

Please read all the exclusions and restrictions in at least three policies before buying. Consider that half of all policies lapse before any benefits were paid. Most owners were unable or unwilling to continue paying their premiums. Even if an owner has LTCi and goes to a facility, only half collect from the policy. If you need home care or use a residential facility, you may not collect benefits. When LTC benefits were paid, they were usually far below the actual cost of care. For many of the longest-term residents, benefits were used up before the nursing facility stay ended. Consider using the premiums to buy assets that can be used for LTC or legacy or retirement supplement, whichever is needed.http://www.amazon.com/Long-term-Care-Insurance-better-alternatives/dp/147006877X/

Decades of federal dollars, NOT entrepreneurs, helped pay for the natural gas boom

Pioneers in gas drilling say government research and tax breaks helped launch boom. The current new gas billionaires did NOT put up the money to assure their own success. The government did. In 1975, the Department of Energy began funding research into fracking and horizontal drilling, where wells go down and then sideways for thousands of feet. But it took more than 20 years to perfect the process. Millionaires like Romney say they did it all themselves. Not true.

GOP wants to eliminate the Department and every other government bureaucrat in Wash.

RomneyCare—emergency room for uninsured—disputed by doctors

"Emergency care is not health insurance," according to Dr. David Seaberg, president of theAmerican College of Emergency Physicians, responding to a statement by Governor Mitt Romney on 60 Minutes about how uninsured patients get medical care in emergency rooms. Most people need comprehensive care and can save with a high-deductible policy:http://www.amazon.com/Industry-Insiders-Guides-Buying-Insurance/dp/1466435712/

KS regulator ask GOP governor to set health exchange plan

GOP governor declines. He is waiting for election to see if he will comply with law to have exchanges for citizens to buy insurance. This will make it more difficult for uninsured to meet the deadline in 2014.

AR Gov embraces health care overhaul

Arkansas Gov. Beebe now wants to use ObamaCare to widen government-funded coverage to thousands of additional families. He’s relying on the move to help prevent a Republican takeover of the state Legislature for the first time since Reconstruction. Gov. Mike Beebe, the first Southern governor to back the law's expansion of Medicaid, has become an unlikely advocate for a central part of the overhaul that would expand Medicaid, a position made easier by the fact that he's not seeking re-election. Beebe has said he thinks lawmakers will support expanding eligibility when they see the broad benefits. The Department of Human Services has estimated expanding the state's Medicaid rolls by 250,000 people will save the state $372 million over the next several years. Republicans have expressed skepticism about that figure, noting that it factors in savings from other parts of the federal health overhaul. 

SD agrees to Fed health exchanges

South Dakota will not set up its own health insurance exchange, instead deferring to the federal government to operate and pay for a key component required by the federal health care overhaul. Each state has the option of making or renting exchanges. 

Are extended warranties right for you?

Experts agree that you should choose warranties backed by manufacturers and not third parties. Most cars have solid reliability records on engine/powertrain so you won’t need one. Check reliability at JD Power, Edmunds.com etc.

Sellers have considerable mark-ups on contracts – as much as 50%. Warranties are the profit line for most retailers. Some use warranty sales as sales bonus plans. Staples is a good example of what companies use extended warranties for—extra profit, not service. According to Staples employees, they are told: no warranty, no computer. The advertised computer is not in stock if you don’t buy the computer but is in stock if you do.

65% of Consumer Reports respondents spent significantly more for the extended coverage than they reaped in repair savings. Twelve percent noted they had difficulty getting warranty repairs because of contract terms or disagreements with an administrator. CRrecommends you put the $1,500-$2,300 you might spend in a moneymarket fund and "insure" yourself. Members self-insure for all large purchases:http://www.amazon.com/Build-Your-Tax-FREE-Wealth-Reserve/dp/1456505041

NJ Gov Christie fails to help homeowners in foreclosure—losing $300 million

ABC News reporter Jim Hoffer asked the governor to explain why New Jersey ranks last out of 18 states who have received hundreds of millions in funds from the US Treasury Department to help unemployed or underemployed homeowners to avoid foreclosure.

Specifically, New Jersey has distributed less than $4 million of a $300 million grant, placing the Garden State in last place among states that have received grants from the Treasury’s Hardest Hit Fund. The GOP governor has spent a good deal of time during the month of September campaigning out of state on behalf of Republican presidential candidate Mitt Romney. He allocated only 5 employees to the program. 

Best homeowner’s insurance services survey

The 2012 survey by JD Power is done. Amica Mutual ranks highest in satisfaction (859) for an 11th consecutive year among homeowners award-eligible insurance companies and performs particularly well in all five factors that contribute to overall customer satisfaction. Following Amica Mutual in the rankings are ACSC (AAA) (824) and Erie Insurance (822), respectively. USAA, an insurance provider open only to U.S. military personnel and their families and therefore not included in the rankings, also achieves a high level of customer satisfaction. Find your carrier on the list athttp://www.claimsjournal.com/news/national/2012/09/27/214364.htm.

Members find that quality service need not be expensive when you buy what you need.http://www.amazon.com/Industry-Insiders-Guides-Buying-Insurance/dp/1466435712/

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

Romney violated his own rule: Extra tax payments make him “unqualified” to be president!

Romney’s returns showed that the couple paid $1,935,708 in taxes on income of $13,696,951. Romney had claimed fewer deductions than he was entitled to just to keep his rate at such a level. Romney told reporters in August he had never paid below 13 percent in taxes in any given year over the past 20. Had he taken the full charitable deduction, it would have pushed his tax liability below 13 percent. Romney also said that "I don't pay more than are legally due, and frankly if I had paid more than are legally due I don't think I'd be qualified to become president."

Redistribution of wealth . . . to the wealthy, by the wealthy, for the wealthy!

Americans don’t understand why the wealthy don’t pay Social Security tax on ALL income.

Currently, workers pay the tax on the first $110,000 in income. Everything above that threshold remains untouched. Why? The current cap was set in 1983 to expose "90% of total national wages to the Social Security tax." Because of inequality in income growthsince then (the rich growing richer), the amount of wages escaping such taxation has grown from 10% to about 15%. It is said that if we raise the taxable portion, we will return to historical intent and also address the erosion of income equality since 1983.

Removing that cap entirely while leaving benefit levels the same could ensure Social Security's solvency for the next 75 years. 

Since the wealthy make more they should pay more. This seems fair. If you make $110,000 you pay $6826 but if you make $220,000, you pay only $6826. If you make $22 million, you pay only $6826.

Americans don’t understand why they pay 40-50% taxes in total and Romney and friends pay under 15% taxes in total.

Who owns your account now?

Morgan Stanley dropping the Smith Barney name from the joint venture it co-owns with Citigroup Inc.

Auto insurers Permanent General and The General to American Family Insurance. 

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Is Long-term Care Insurance right for you?

Is Long-term Care Insurance right for you?

Rating firm Moody's says the health of the long-term-care business is questionable. Of the 15 companies that generated the most statutory earned premiums for LTCI in 2010, five either no longer sell the product or have curbed sales. The list includes John Hancock Life Insurance Co., MetLife Inc., Unum Group, CNO Financial Group Inc. and Prudential Financial Inc. Many owners have to drop coverage as premiums rise. 

Compare the alternatives: http://www.amazon.com/Long-term-Care-Insurance-better-alternatives/dp/147006877X/ . $19.95

Is dog bite protection right for you?

Dog bite claims are on the rise and account for more than one-third of all homeowners insurance liability claim dollars in 2011. Every owner thinks their pet is God’s gift so coverage is not considered. Reality sets in when you receive a notice of suit. Between medical and settlement costs, your homeowners may not pay all. For a couple of hundred dollars you can protect yourself with an umbrella liability policy. Some breeds are NOT covered so ask. Most dogs respond to young children well but practice with known situations. Consult specialists if your pet is aggressive with the unknown. Use our Guide to pick the right “umbrella:” http://www.amazon.com/Drop-Your-Insurance-Only-What/dp/1448623391

Don’t stand near post office buildings

U.S. Postal Service asks Floridians to stop crashing into post offices

This year so far, eight drivers have crashed into post offices in Central Florida alone. Post office “tips” include: Visibly check to see whether your foot is on the gas pedal or the brake pedal," and "Visibly check to see if the vehicle is in Park, Reverse or Drive."

Medicare premiums will rise only $1.47 next year – overall spending down

Monthly premiums for popular private insurance plans through Medicare are only inching up next year, the Obama administration said. Average monthly premiums for Medicare Advantage plans will rise by $1.47 in 2013 to $32.59, said Blum. When premiums and out-of-pocket costs such as co-payments are combined, Medicare estimates that beneficiaries will actually spend less on average. e administration says Medicare Advantage premiums have gone down 10 percent since the president's health care overhaul passed in 2010.

KS questions Obama’s birth and presidency AGAIN—GOP never gives up

Kansas election officials on Friday were seeking to obtain a certified copy of President Obama's birth certificate as they determined whether to allow him to remain on the ballot after a state resident challenged his citizenship. Here it is: http://www.whitehouse.gov/sites/default/files/rss_viewer/birth-certificate-long-form.pdf

GOP never gives up or has KS moved that far to the right?

Romney never had to prove he wasn’t a Mexican.

It is only because he is black that Obama has to show he is American

GOP hopes to win election by ending our deductions!!

If elected president, Mitt Romney has promised he will create 12 million jobs, replace Obamacare and the Dodd-Frank financial reforms, slash corporate tax rates, preserve the Bush income tax cuts, and then cut an additional 20 percent to boot. And, oh yes—balance the budget.

How does Romney propose to pull off this feat of budgetary magic? He isn’t saying. He has said he wants to end loopholes to pay for this: charitable giving ($47 billion), mortgage interest ($89 billion), retirement savings ($118 billion), and employer-provided health insurance ($131 billion). Aren’t these cuts going to raise our taxes? http://www.businessweek.com/articles/2012-09-13/mitt-romney-and-the-fantasy-budget

How much do we really spend out of our paycheck? Less than HALF?!

Elections are about taxes. In 1960 middle-income Americans paid less than 30 percent of their earnings in local, state, and federal taxes; today that figure is up to 40 percent. Many middle- and upper-income families living in the states that have the highest taxes, such as New York and California, pay nearly 50%—HALF—their incomes in taxes. High taxes reflect the growth of government. Subsidies go to every group.

We pay Federal and state income taxes, Social Security and Medicare, state sales tax, gas tax. In some states, we pay workers compensation insurance, family leave insurance, disability income insurance, unemployment insurance. Some of us then have to pay our employer for union dues, health insurance, life insurance, long-term care insurance, etc. Some then have chosen to pay for retirement 401k, 403b, etc. Some also pay property tax, homeowner fees, road tolls to get to work, etc. Some pay interest on cars, etc. Some pay student loans. Some give a tithe to religion. The only tax credits we have are taxes, charity, mortgage, retirement and health insurance. Now even these are at risk.

The Patient Millionaire

You don't need an advisor to earn $100,000, $500,000 even a $1,000,000 tax FREE! You can do it yourself using the same low-cost high-return mutual funds that pension fund managers use.

You already have the power to control the process they use to earn your first $1,000,000. After that, it is easy to double your money without income taxes or advisor fees. There is no reason why you can't become a Patient Millionaire. You can also use a tax-advantaged account like they do. You can compound your money into $1,000,000 with monthly contributions of just $250. Compounding high investment earnings is “the most powerful force in the universe,” Einstein said. Simple but powerful AND you pay NO tax AND NO advisor/broker account fees for life.

Law Steeple is one of our Insiders. Just $12.95

https://www.createspace.com/4000350

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

Who are the 47% of Americans Romney says don’t pay income taxes?

There are 78,000 tax filers with incomes of $211,000 to $533,000 who paid no federal income taxes last year. Even more amazingly, there are 24,000 households with incomes of $533,000 to $2.2 million with zero income tax liability, and 3,000 tax filers with incomes above $2.2 million with the same federal income tax liability as most of those with incomes barely above the poverty level.

http://economix.blogs.nytimes.com/2011/06/28/who-doesnt-pay-federal-income-taxes-legally/

Congress people and staff not paying taxes either

The Republican-led House passed legislation last month that raised the consequences for federal civilian workers behind on their taxes, or anyone who wants to work for the government. Supporters say the measure is necessary to hold employees accountable, collect about $1 billion past due and foster confidence among Americans that public servants aren't ditching their tax obligations. Employees of the legislative branch — which includes members of Congress — owe millions, too. In the U.S. Senate, 217 employees owed $2.1 million; 467 workers in the House owed $8.5 million.

IRS has the power to put a lien on salary but some have friends in high places.

Some states will not renew a driver’s license if you owe taxes.

Guilty banker gets out of jail and collects $104 million as he passes GO!

First, the government threw Bradley Birkenfeld in prison for helping a former client at UBS AG hide his wealth from the Internal Revenue Service. Now, as part of the same case, the IRS has awarded the former banker $104 million for helping expose the widespread tax evasion scheme by the Swiss banking behemoth. The IRS collected $5 billion in back taxes and penalties from 4,700 Americans who held secret overseas accounts and $780 from UBS.  

What a business!

John Hancock helps business owners avoid paying taxes

John Hancock sold a tax shelter called the Benistar plan, which was intended to provide benefits funded by life insurance policies. Customers are now suing the insurer and their law firm which provided a letter of plan legality. In 2008, the IRS declared the Benistar plan an "abusive tax shelter" and assessed back taxes and penalties on the customers. Benistar plans claim a business can make unlimited tax deductions for contributions and employees can receive benefits free of tax using the insurance exemption. 

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Keep More of What You Earn

Keep More of What You Earn

10 Mutual Funds for Tax-FREE Income, Growth and Diversification

 >Earn 10% to 12% on your mutual funds FREE of income taxes.
>Avoid 1% to 3% sales fees and commissions on your account.
>Use low-cost mutual funds that are well diversified.
>Use a special IRS account to protect all your interest and gains.

Isn't it time you started using the low-cost high-return mutual funds the pension fund managers use?
You may not have the $ millions that pension fund managers have in their accounts, but that is no reason you can't Keep More of What You Earn like they do. You can also use a tax-advantaged account like they do. Get started in 1 hour. Presented by Law Steeple, MBA, one of our Insiders. Just $12.95.

https://www.createspace.com/3992600

 

 

 

No secret to having money: Invest early and spend less

New survey says HALF (47 percent) of the 1,038 respondents pointed to “living within my means” while more than a third (35 percent) say they “started saving from an early or at a young age.” Forty-two percent say saving for retirement is their primary financial goal. What is new is how to build wealth ON YOUR OWN and tax-FREE: http://www.amazon.com/The-ABCs-Building-Wealth-accumulating/dp/1468033344

 

 

Preferred auto insurance customers wasting premiums

Texas Office of Public Insurance Counsel found that the longer customers stay with a company, the more likely they are to pay more than they need to. The analysis found that the insurers' risk of loss is less the longer you stay with the company, meaning you become more profitable to the company the longer you stay around. While the savings will vary from person to person, long-term customers are likely to be paying too much.

The report was meant to be a siren call to shop around for home and auto policies. Our Guides show the ‘tricks of the trade’ to save: http://www.amazon.com/Industry-Insiders-Guides-Buying-Insurance/dp/1466435712

 

ObamaCare forced insurers to return premium overcharges

Virginia residents and businesses have received about $43 million in rebates from their health insurance companies. Fourteen insurers returned the money because they failed to spend at least 80 percent of their premium income.

 

What else does ObamaCare do for you?

See http://cigna.promo.eprize.com/hcrig/?affiliate_id=cigna

 

 

Romney now says he will keep ObamaCare benefits …. Sort of… (if you qualify?)

Romney does FLIP right on TV—he will gut ObamaCare, Then won’t, then will again!

On Meet the Press yesterday he said he intended to reform the health-care system to allow people with preexisting conditions to obtain health insurance. However, Romney doesn’t have a plan, or even a vague outline of a plan, to cover people with preexisting conditions. To preempt a conservative freak-out, Romney’s campaign clarified to National Review that its actual position remains, “Governor Romney will ensure that discrimination against individuals with pre-existing conditions who maintain continuous coverage is prohibited.” What does that mean?

The key clause here is “who maintain continuous coverage.” Romney is saying that if you have health insurance, you won’t get kicked off health insurance if you develop a serious condition, even if you switch insurers. That’s not the same as finding a way to give coverage to people who are locked out of the insurance market for medical reasons. It’s not even a new proposal. That right has existed in federal law since 1996. It’s possible Romney is saying he wants to strengthen it but, as Jonathan Cohn has explained, that’s really hard to do, and even if he could, it would be a very limited change that would affect very few people.

GOP captures the undecided by using half-truth sound bites?

 

Ryan lied about running a fast marathon!? Can we trust this man?

Runner who first questioned Paul Ryan’s marathon time speaks out. http://news.yahoo.com/blogs/ticket/runner-first-questioned-paul-ryan-marathon-time-speaks-155321505--election.html

“Turns out Ryan never ran a marathon in that time; a campaign spokesman was forced to walk back the comment.”

Why would he make up such a lie? Just to influence runners?

Does Ryan think we are stupid that no one would check him out?

Do all Republicans think this way?

 

CA approves pay-for-miles-driven program

Regulators approved an auto filing by Esurance that will allow its policyholders to voluntarily participate in a unique pay-drive verified mileage auto program. Under the company’s “Drive Less, Save More” program, customers provide odometer readings each term for possible additional savings on their car insurance. Other companies that offer pay-drive programs include: The Automobile Club of Southern California, State Farm, CSE Safeguard Insurance Company and the Sequoia Insurance Company of Marin. Learn all the ‘tricks’ to lower your premium with our Guide: http://www.amazon.com/Industry-Insiders-Guides-Buying-Insurance/dp/1466435712

 

Vanguard low-fee ETFs shaking industry to core (profits)

Vanguard's ETFs have attracted 70% of the inflows over the past three years, according to a recent AllianceBernstein LP research note. “A fee cut could go a long way toward helping their [BlackRock] products compete more directly,” said Mike Rawson, an ETF analyst at Morningstar Inc. The battle between the two firms' emerging-markets ETFs is the clearest example of the shift that's been under way. The iShares Emerging Markets ETF (EEM) and the Vanguard Emerging Markets ETF (VWO) track the same index but the Vanguard ETF has an expense ratio of 0.22%, 45 basis points lower than the iShares product.

Members know there is no difference between the two funds except sales charges, which reduce the size of their nest eggs. http://www.amazon.com/Wealth-Without-Wall-Street-Commissions/dp/1442168137

Is your income going backward?

Median incomes fell 1.5 percent in 2011, while the official poverty rate ($23,021 for a family of four) remained essentially unchanged at 15 percent.

A family right in the middle of the income spectrum had an income of $50,054, which is actually lower than the 1989 median level of $50,624 expressed in 2011 dollars. The implication: For much of America the economy has produced not just one lost decade but two. Stagnation has even hit wealthier and more educated households (the 95th percentile in the Census data) for the past decade. http://www.myfoxspokane.com/news/economy/story/us-incomes-fall-1989-levels-how-did-happen

 

Top 1% of America’s wealthy now take double the national income http://www.nytimes.com/2011/10/26/us/politics/top-earners-doubled-share-of-nations-income-cbo-says.html

Top companies have moved their work overseas for lower wages and tax benefits.

 

 

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

 

Wealthy already plan to avoid new tax—The Romney way

Tax planners are developing ways to help clients avoid the taxes set to take effect next year. Advisers are devising methods for high-income taxpayers to shelter investment and other forms of income.

Obama's healthcare law imposes a 3.8 percent tax on investment income and a 0.9 boost in payroll taxes, both applying only to individuals earning more than $200,000 a year or households earning more than $250,000. That is about 4 percent of the tax-paying population, according to the non-partisan Tax Policy Center.

Among ways these taxpayers might be able to avoid the full brunt of the new taxes: cashing in gains this year instead of next; characterizing income as active instead of passive; and moving profits into vehicles or structures not subject to the tax, said a range of tax experts. Of course, law firms and real estate partnerships are exempt.

The 3.8 percent tax is assessed on top of the existing 15 percent tax rate on income from capital gains, dividends and other investments for the $200,000-in-income-and-up set. The tax applies to investment income from dividends, interest, annuities, royalties and rents - except for income earned in the ordinary course of a trade or business.

This 18.8% tax is still less than the 20% capital gains in effect under Clinton.

 

 

Corporations don’t need another tax break to open more factories—They went overseas

Corporations are holding record amounts of cash. And none of them wants to keep it in the U.S.Cash holdings for U.S. non-financial firms rose 3% to $1.24 trillion, according to Moody's. That tops last year's all-time high of $1.2 trillion. Moody's also estimates nearly $700 billion, or 57% of the corporate cash total, is held overseas. The ratings agency attributes this to emerging-market strength, dividends and high levies on repatriated cash.

"Without permanent reform that lowers the tax on overseas profits, Moody's expects the absolute and proportionate amount of cash held overseas will continue to rise," the firm says in its release. Even among corporate behemoths, there's a 1%: Apple, Cisco, Google, Microsoft and Pfizer accounted for 22% of all cash balances. Apple alone represented 8% of all holdings.

 

How did we get here

National Debt Graph by President

http://zfacts.com/p/318.html

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

 

Make sure your student has the facts

Wealth: What Every High School Student Needs to Know NOW at iTunes $3.99

Use a simple tax-FREE account called a “Wealth Reserve” to learn how to invest for long-term growth.

This Wealth Reserve can provide $160,000 annual retirement income for life with NO income tax.
This Wealth Reserve can provide real “lifestyle” security.

This Wealth Reserve can self-insure and self-fund financial needs saving $3,000 every year.

This Wealth Reserve takes advantage of the miracle of compounding—$250 a month becomes $2,000,000 over time.
Start today! Every year you delay costs you $100,000 later. http://itunes.apple.com/us/app/wealth-what-every-high-school/id540588535?mt=8

Or paperback http://www.amazon.com/Wealth-every-school-graduate-century/dp/1466427906

 

What is your retirement income plan?

How much will you receive from Social Security?

From a part-time job?

From your nest egg?

From your other assets?

Having a plan makes your life easier in retirement. Do it now so you can have peace of mind. http://www.amazon.com/Your-Retirement-Spending-Plan-enough/dp/1461084016/

 

Did you receive an IRS notice about IRA contributions?

One member received a notice for more tax because IRS claimed the filers were not allowed to deduct all the contributions because the spouse was covered by a pension and the other was not. This member did not accept the IRS claim since their tax preparation was done online using one of the firms the IRS listed on its website. The member also looked up the rules about IRAs and sent the IRS a copy of the page in question. Recently, the IRS gave up and did not require more tax. The IRS is staffed with folks who may not know all the rules—too many to know. It also pays to mention that you used the software firm listed at http://apps.IRS.gov/app/freeFile/jsp/index.jsp?ck and paid $10 for it.

 

 

Our taxes provide extra income to mega farms—Socialism for the rich

In 2011, corporate farmers earned a record income of more than $100 billion. With crop insurance and very high prices helping to compensate for a smaller harvest, incomes should remain strong, says an Iowa State University agriculture economist. Our taxes buy insurance for farm businesses that can show a “revenue” drop. This drives up the price of land and rents for smaller family farms. Food prices soar to offset lower supply of crops that now goes to making fuel and exports. Large agribusinesses get bigger.

 

CA establishes citizen health care co-ops to save premium; expand benefits

“These CO-OPs are a help to California consumers by returning surplus revenue to members in the form of lower premiums, lower cost-sharing and expanded benefits.”

The bill implements a provision of the Patient Protection and Affordable Care Act.

The bill would also make co-ops in California eligible for federal grants.

Under the health care law, those seeking to form a CO-OP may apply for $3.8 billion in federal funds in the form of low interest loans. To date, 19 non-profits, offering coverage in 18 states, have been awarded over $1 billion by the Department of Health and Human Services.

 

GOP-run states have declined to set up health exchanges—citizens lose

Putting their citizens’ health farther in jeopardy, GOP-led states do not see the advantages of raising health access and screenings for those in need.

http://www.dailykos.com/story/2012/06/30/1104748/-GOP-governors-fight-to-preserve-dismal-red-state-health-care

 

Is buying long-term care insurance when you are young right for you?

The LTCi industry is pushing this product for the young at work because sales have been slow for seniors. The sellers use arguments about how people at any age may need care. They cite very inexpensive policies. They drag out the best-case “examples” from insurers to show that someone actually received $730,200 in benefits at age 28 or 44. There are few details but the message is clear. http://www.lifehealthpro.com/2012/09/06/the-24-year-old-ltci-claimant?ref=hp

You can hit the LTCi benefit lottery by playing and you must be in it to win. But this policy is a really poor choice for young adults with few dollars to use for the rest of their lives. Yes, there are a few people who benefit just like there are a few wealthy widows and widowers. However, this is not the kind of long-odds bet you want to make at age 21. Buy LTCi at work ONLY if you have maxed out your 401k and Roth IRA and have a golden comprehensive health policy. You have a greater need for ready money later in life without having to become disabled first. For example, $250 a month can be worth $1million tax-FREE later. And you don’t need to get sick.  http://www.amazon.com/Lies-Financial-Advisors-Told-alternatives/dp/1478281545

 

 

 

Book review: Bailout: An Inside Account of How Washington Abandoned Main Street While Rescuing Wall Street Neil Barofsky (Author)

A taxpayer’s look inside the way Washington acts when our country is in crisis created by one of its own power centers. Prosecutors hired to stop fraud and waste of our tax dollars are considered enemies by bureaus with the money to bailout their friends and intentionally hurt homeowners. Programs were “designed by Wall Street, for Wall Street.” (p. 129) All the banks that bet their money with AIG got 100% back—no losses. http://www.nytimes.com/2009/11/20/opinion/20krugman.html

Despite Congress funding to modify struggling homeowners’ loans, servicing banks and holding companies pushed foreclosures because fees are higher for them than for modifications. Treasury poured money into banks without any accountability, thinking that banks would never do anything wrong. Banks paid bonuses, fixed their balance sheets, bought other companies—spent all $700B without improving lending. Bank stockholders and executives that should have lost their jobs and their investments due to their own failed policies were paid off. Treasury even approved bonuses for the AIG execs who caused it.

Consider Angelo R. Mozilo, the CEO of Countrywide, one of the biggest bad loan originators. He never faced a trial let alone jail time. He was named second "Worst American CEOs of All Time". He received $57 million in 2005 at the height of the fraud.

 

Barofsky concludes, “future massive crises—and bailouts—are … inevitable.”

 

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

 

Socialism for the rich

Crop insurance for agribusiness—drives up prices for land too.       

Oil and gas subsidies—drilling already paid for by speculators.      

Cotton subsidies—we have to pay off Brazil farms.  

Rice subsidies—mega farms collect most of it—two firms got over half of total. http://farm.ewg.org/top_recips.php?fips=00000&progcode=rice&regionname=theUnitedStates

 

Who owns your account now?

American Financial Group's supplemental insurance business to Cigna

Hartford s Retirement Plans business to Massachusetts Mutual Life

 

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com