Archive for November, 2012

5 Myths About Long Term Care Insurance

Posted on: November 28th, 2012 by Herlihy Insurance Group No Comments

5 Myths About Long Term Care Insurance

Myth 1: My Health Insurance or Medicare Will Pay for These Services.

Heath Insurance pays for your doctor and hospital bills when you get sick or injured. When you have a chronic illness, disability or a cognitive impairment, Long Term Care Insurance can provide you money if you need assistance with bathing, dressing, toileting, continence, transferring or feeding yourself. If you don’t have a LTC Policy, you will have to use your own money to pay for these services.

Myth 2: Long Term Care Insurance Only Pays for Nursing Home Care.

This is the biggest misunderstanding about LTC insurance. LTC insurance can pay for a home health aid or a visiting nurse to help you within your home as well as to pay for a nursing home. Current statistics show that 40% of all long term care insurance policy benefits are used for home care.

Myth 3: All Long Term Care Policies Are the Same.

There is NOT one standard LTC insurance policy adopted by all insurance companies. In evaluating a LTC insurance policy, a person should review the Daily Benefit, the Maximum Policy Benefit, the Elimination Period, the Inflation Protection Rider, Waiver of Premium, the Annual Premium and the qualifications for you to start receiving the benefits. These are just a few key items to review when comparing one policy against another policy.

Myth 4: I Will Wait to Buy An LTC Policy Until I Am Older.

The best time to apply for a LTC policy is when you are healthy. To qualify for a LTC policy, you need to submit an application and go through the underwriting process. Once the insurance company has reviewed your application and your medical history, the insurance company will decide whether to offer you a LTC Policy or not. Since the LTC’s policy language has changed over the past several years, now is the best time to purchase a policy that will be most beneficial to you.

Myth 5: A Long Term Care Insurance Policy is Expensive.

Similar to Life Insurance, the younger you purchase a LTC Policy the less expensive it will be for you. A few drawbacks in waiting to purchase a LTC Policy are a decline in your health, your inability to qualify for a LTC policy and a more expensive policy. We recommend everyone talk with an LTC specialist for the exact cost and the best LTC policy for you. Once you have all of your specific information, you can make an educated decision that is best for you.

If you have any additional questions or would like to attend one of our upcoming Long Term Care Seminars, please contact Mark Herlihy, CIC.

Phone: (508) 471-9660
Email: Mherlihy@HerlihyGroup.com

Disaster Planning

Posted on: November 28th, 2012 by Herlihy Insurance Group No Comments

Running a successful business over a long period of time can be very challenging.

Obtaining new clients, keeping existing clients, managing employees and controlling expenses are daily activates for most business owners. The ability to consistently manage these areas well over a long period of time is the key to success.

But what do you do when the unexpected occurs? Are you and your business prepared if one of life’s unexpected crises comes your way? Each year thousands of businesses are affected by man-made and natural disasters; fires, floods, tornadoes, earthquakes. Over 40% of businesses closed by a catastrophe never reopen.

Having the proper insurance coverage is only one part of surviving a disaster. How you will get your business up and running so you can service your customers is even more important. The longer the delay, the less likely your business will survive.

Some key areas to include in your disaster plan:

Location: If your business location is destroyed, find a place where you can temporarily reopen to serve your clients. Whether it’s a physical building or an off site call center, your customers need to get in touch with you.

Computers: If your area is without power, you need to have some type of computer access to get employee, client and supplier’s information.

Disaster Planning

Employees: Make sure all employees know who to contact in case of emergency. A plan should be set up to determine where and how each employee will perform his or her job.

Emergency Funds: Work with your bank ahead of time to have a plan to access money to help fund the disaster plan. Access to money may not be locally, so you’ll need to have a plan.

These are just a few areas to consider when developing a disaster plan. It’s a sure bet that an emergency situation will occur at some time. It’s just a question of how severe it will be. Proper planning will determine how successful or unsuccessful your recovery will be.

News to Know

Posted on: November 28th, 2012 by Herlihy Insurance Group No Comments

Holiday Parties

Holiday Parties - Whether you are an individual, family or business hosting a holiday party, the issues are very similar! You want to have an enjoyable event and yet you do not want any “problems”. While guests are attending a party at your home or business you are “responsible” for their safety. Recently we have also seen a few court cases that ruled you are “responsible” for these guests when they drive away in their cars! So for those generous holiday party hosters, check in with us on your liability coverage for parties and we recommend a Personal Umbrella Policy!

Other Structure

That “Other Structure” - We call it your “Other Structure”. You may call it your garage, workshop, studio, man cave or pool house. The point is don’t overlook making sure you have the “right” insurance on this “Other Structure”. If you are a home owner with an “Other Structure” that has ANY type of business or business things in it, please contact us ASAP. If you are a business owner with an “Other Structure” and you forgot to tell us about this, please also contact us ASAP. Other Structures frequently need “other stuff” for insurance!

Home Business

Now You’re IN Business - Many of our clients have ventured into some unusual home business ventures. We have crafters, home brewers, web designers and jewelry makers! Anyone who is making more than $2000 a year in their venture is considered “in business”. If this is you, we may need to talk! Business activities and business property are NOT automatically included in your home insurance coverage. We can help you with this! Give us a call or send an email if you think you may have a home business! Even if you don’t want any insurance for your business, if you have a really unique home business, we would love to share this on Facebook!

Facebook

The Face of Facebook at Herlihy Group - Meet Lisa Lange. She’s adorable and she is the Herlihy Group FACE of Facebook. We looked at Jim, John, and Mark as possible faces and the agency all voted in we go “out of Herlihy” and go with Lisa. Please help her to help us grow our Facebook Group!

Refi Mania & Red Tape!

Posted on: November 27th, 2012 by Herlihy Insurance Group No Comments

The Top Five reasons to let us know when your mortgage company changes!

  1. Your Mortgagee Pay Bill goes to the right place AND gets paid on time!
  2. You do not get a letter from your mortgagee that you have no insurance.
  3. You do not have to call us about this letter and say, “What happened to my insurance?!”
  4. Any claim that is paid will have the correct mortgagee info.
  5. We love to speak with you, but if we have the correct info you will not need to call us on this!

Another Real Umbrella Story…for the Fall

Posted on: November 27th, 2012 by Herlihy Insurance Group No Comments

Paintball

This time we share with you our story about Gary. Although not a blood relative, he is a very good friend!

Gary is a great guy. He does not “live on the edge” and never thought he would actually NEED the coverage of his personal umbrella. At this point it should be noted that if he had listened to his wife, he probably would not have NEEDED this coverage for this happening.

Gary’s story starts out with his son begging for a paint ball gun of his own. We all know the routine. The begging, the pleading, the relentless pestering…

“But Dad, ALL of my friends have paintball guns!”

Well like many of us, Gary eventually gave in. He made a trade with his son regarding “good grades” and an “Extreme Range” paintball gun. Of course the paint ball gun came with an extensive list of “Gary Safety Rules”. One of Gary’s safety rules was that this extreme range paintball gun could only be used at home.

Although this rule would not work well at my house, Gary’s family has a two acre lot with a wooded section. This setup enabled Gary to provide his son and fellow paint ball enthusiasts with a paintball “field” right in his yard. Gary was the hero and his son and his friends LOVED their private paintball field.

All was well at Gary’s house! The good grades were coming in. The paintball people were all following the “Gary Safety Rules” then it happened.

The new paint ball player took off his goggles to adjust the strap. A paintball pellet shot from a friend, hit him in the eye. Parents were alerted, doctors were visited and when the dust settled the paintball player had a nasty eye injury.

Sparing you many of the gory details…the parents of the injured player did seek to recover for the injuries that their son sustained at Gary’s house. Good news…Gary and his family had a Personal Umbrella Policy over their home insurance policy that did provide them with the additional liability protection that they needed for this event. So, a few of my thoughts in closing…

Personally, I doubt my husband would create a paint ball field at our house (he hates yard work) and I always make certain that I keep my Personal Umbrella policy around.

Although I don’t see paint ball in our future, we do enjoy entertaining and participating in a wide range of activities. Plus…we drive many cars many places.

We at Herlihy Insurance Group recommend that ALL of our clients carry personal umbrella protection. You never know when the unexpected can happen.

As for Gary’s family, they no longer have a paint ball gun. Their son did keep up his grades as promised. Any guesses what Gary’s wife had to say about this event?

Team Herlihy in Action

Posted on: November 27th, 2012 by Herlihy Insurance Group No Comments

Walk to End Alzheimer's

Walk to End Alzheimer’s - First year participant, Team Herlihy joined hundreds of others walkers at Quinsigamond Community College in Worcester to help bring awareness and funds for Alzheimer’s care, support and research. Team Herlihy exceeded their goal and with the help of family, friends and coworkers raised $3,200 to help fight the 6th leading cause of death in our country. To donate or learn more visit www.alz.org

First Responders Thank You

First Responders Thank You - On September 11th, Team Herlihy in remembrance of 9/11 expressed our gratitude to local first responders for the work they do every day. Team Herlihy dropped off lunch for firefighters and first responders at our Greendale Fire station.

Pink - Lighting the Way

Pink – Lighting the Way - Team Herlihy was a proud sponsor of “Pink” night at the University of Massachusetts Medical School in Worcester, a night to celebrate the lives of those touched by breast cancer. The event was an incredible night of hope as breast cancer survivors and physicians shared their insights about living with the disease, their journeys, and the latest advances in breast cancer research and care. Learn more at www.pinkrevolution.com

For more information on Team Herlihy and how you can take an active role, contact John Herlihy at johnherlihy@herlihygroup.com.

Referral Rewards Winners

Posted on: November 27th, 2012 by Herlihy Insurance Group No Comments

Thank you to everyone that has made 2012 our best Referral Rewards year ever. New customers call Herlihy Insurance because you referred them. Clients continue to work with us year after year because we answer your questions, provide competitive solutions to your problems and answer the bell for you and our community every day.

Get your referrals in for November and December to be included in our year-end Grand Prize drawing for a High Definition Flat Panel Television. To enter your referrals or have an idea to improve our Referral Rewards program, Call us, Email us at referrals@herlihygroup.com or use this form.

Referral Rewards

2012 has turned out to be an emotional year for all of us at Herlihy Insurance Group.

Posted on: November 27th, 2012 by Herlihy Insurance Group No Comments
Jay Herlihy

Jay Herlihy
August 2, 1937 – August 24, 2012

On Aug 2nd, my family celebrated Jay Herlihy’s 75th birthday at UMass Hospital. Unfortunately, 3 weeks later, he passed away at Notre Dame Nursing home. My father had been fighting various illnesses the last few years, but he died peacefully and on his own terms. In keeping with his strong work ethic, he waited until 3:15pm before he passed. Our office closes at 3pm on Fridays during the summer months.

My family truly appreciates all the prayers and kind words we have received from friends and clients during the past few months. My father was a great businessman, but an even better person. This is clearly evident by the response we have seen.

On the bright side, The Herlihy Insurance Group is proud to have reached two milestones in 2012. This year marks our 85th anniversary. In April, the agency was recertified as a Five Star Agency. This is our third time receiving the Five Star certification, a certification earned by less than 5% of Massachusetts insurance agents.

So, as we come to the end of 2012, we’d like to thank all our employees and clients who have made our success possible. We will continue the legacy of my father by operating the business as he taught us and continuing to give back to our community.

Best wishes for a happy and safe holiday season. Make time to enjoy your family and friends.