Archive for December, 2014

Long Term Care Insurance – Get Educated

Posted on: December 22nd, 2014 by Herlihy Insurance Group No Comments

Long Term Care Insurance - Get Educated

When you work with people every day, you often have a front row seat to the financial and emotional stress on a family and extended family, helping a loved one who have become severely sick. Although a Long Term Care (LTC) insurance policy can’t solve every problem, a properly setup LTC policy can solve this unexpected expense. Furthermore, an LTC policy can protect the financial plan for both you, your spouse and family.

Here are five common questions regarding Long Term Care Insurance:

Will my Health Insurance 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 an income 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.

Does Long Term Care Insurance only pay for services in Nursing Home?

NO, this is a big 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.

Are all Long Term Care Policies 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.

Should I 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 provide you the most benefits.

What is the cost of a Long Term Care Insurance Policy?

Unfortunately, providing a cost estimate is tricky as there are many factors that generate a policy’s annual premium. 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.

The objective of this article is to encourage you to learn more about Long Term Care Insurance, and the Herlihy Insurance Group is here to help you. If you are interested in attending an upcoming seminar or would like additional information, please contact Mark Herlihy,CIC at phone (508) 471-9660 / Email:

Know Your Flood Zone

Posted on: December 19th, 2014 by Herlihy Insurance Group No Comments

Know Your Flood Zone

If you own a property or are considering buying or selling a property we recommend that you always review the “flood zone” of the designated location. During the past two years there have been numerous updates to the flood insurance program and the flood maps that are utilized in this program.

Many mortgage holders are now requiring property owners to obtain flood insurance.

Just what is a flood?

In simple terms, a flood is a general and temporary condition of partial or complete inundation of two or more acres of normally dry land area or of two or more properties (at least one of which is your property). The water must be from a defined “flood” source.

We have three recommendations for all of our property owners:

  1. Go to and review the flood risk on your property. New flood maps and zoning are intended to provide a more accurate assessment of your property risk of flood.
  2. If you have a current flood policy, please do not let it lapse. You may be grandfathered in with lower rates and should keep this coverage as an option.
  3. If you receive notification from your mortgagee that you are now required to have Flood Insurance, forward a copy of the letter to our insurance agency as soon as possible. This notification will be important for placing flood coverage for your property.

Flood insurance can be complicated.

Know that we are here to help!

Data Breach 2014

Posted on: December 15th, 2014 by Herlihy Insurance Group No Comments

Data Breach 2014

There seems to be a new Data Breach occurrence almost every week. If you own a business that handles client, or employee personal information, you’re at risk.

Just the Facts:

Data Breach Defined: Loss, theft or accidental release of Personal Information (Social Security number, Bank Account numbers, Credit Card numbers, Driver’s License numbers, client information).

How It Can Occur: Stolen or lost paper or electronic files, laptops, smartphone, computer discs, employee error, stolen credit card information, hacking.

Who Needs Data Breach Insurance: Any business that handles or stores private client, patient or employee data is at risk. High risk businesses include healthcare practices, accountants, retailers, insurance offices, restaurants and financial services.

Insurance Coverage: Provides money to pay for costs resulting from a data breach. Some of these are Notification to customers, Credit monitoring, Legal and Forensic Services, Fines and Penalties, Legal Defense and payment of lawsuits.

The fact is, most businesses are at risk for some type of data breach. Each business’ exposure is different and so are their coverages and premiums.

Call (1.888.756.5159) or email us today to discuss your situation.

All Things Registry

Posted on: December 12th, 2014 by Herlihy Insurance Group No Comments

All Things Registry

NEW THINGS at Check these out!

Top Seven Things Our Clients are doing with Online Registry

  • Renew registration
  • Duplicate registration
  • Review registration expiration date
  • Duplicate title
  • Change of address
  • Cancel registration
  • Renew license

Claim Tip

Posted on: December 10th, 2014 by Herlihy Insurance Group No Comments

Claim Tip

When you are taking pictures at an accident, don’t forget to snap a picture of the license plate of any other car involved in the accident. This plate information can be very important!

The Ride Sharing Exclusion on your Massachusetts car insurance policy

Posted on: December 8th, 2014 by Herlihy Insurance Group No Comments

Ride Sharing Exclusion

We wanted to remind all of our clients that most Massachusetts’ insurance companies have a “Ride Sharing” exclusion. This means that if you are using your car in a “ride share” program (when you rent out your car to people in need of transportation) your insurance will not cover the car or driver.

Zip Car User?

The use of a Zip Car is not automatically excluded BUT depending on how often you use Zip Car, you may need to add additional coverage to your policy. Check in with us!

All about Jewelry

Posted on: December 5th, 2014 by Herlihy Insurance Group No Comments

All about Jewelry

Updating Valuable Items and Jewelry… In the news

  • Gold Jewelry Back in Demand, Forbes – 2014
  • Diamond Prices expected to rise on average 6% per year through 2020.
  • What does all this have to do with you? Your jewelry is more valuable today than yesterday.
  • Schedule your jewelry, and remember to update your appraisals at least every 3-5 years.
  • If you have jewelry or valuable items not scheduled, now is the time to do so.
  • We recommend scheduling jewelry or valuable items with a value greater than $2,500.

Team Herlihy in Action

Posted on: December 1st, 2014 by Herlihy Insurance Group No Comments

Team Herlihy in Action - September


A sunny “summer” Saturday greeted all Team Herlihy members for this year’s Be-Like-Brit 5-K Walk held at Elm Park in Worcester. Our second year helping our favorite group of people. We are very pleased to have our team raise over $1,000 for Be-Like-Brit. Thanks to Sox Wally and Sharks’ Fins for joining in the fun. Learn more or get involved at

Team Herlihy in Action - October


Team Herlihy rolled along for year number three of our support in the Walk to End Alzheimers at Quinsigamond Community College. For the third consecutive year Team Herlihy raised over $3,000 and remains a top ten fundraiser for this event. Hats off to all Herlihy team members.

Team Herlihy in Action - November


Our first community document shred day was a huge hit. We were pleased to see over 40 families and businesses show up on a cold and rainy day to destroy their personal records in a safe and secure way. Definitely an event we’ll look to continue going forward.

Next Up: Boys & Girls Club of Worcester Toy Drive

For 14 years Team Herlihy has helped donate toys for the club’s annual Christmas party. We can use all the help we can get to reach our goal of 300 toys. To help out, help us collect toys-gifts for boys and girls ages 4 to 16. Along with toys, gift cards are a great idea for the older children. We are excited to help make the holidays a time to remember for some families that really deserve it.