Monthly Archives: February 2017

The Cost of Raising a Child AKA Why You Need Life Insurance

Each year the government (the USDA to be exact) publishes how much it costs to raise a child to 18. The number is staggering. It’s more money than most of us can imagine coming up with, which is why life insurance is so important. You can cover that sum—$233,610—for a modest monthly premium. A healthy 30-year-old, for example, can get $250,000 of term life insurance coverage for 20 years for about $13 a month. That is a small price to pay for both peace of mind, and having your child be OK financially if something were to happen to you.

Filled Under: Industry News Posted on: February 20, 2017

Home-Buying Tips for the Single Guy and Gal

Who says you need to be married to purchase a home? According to Bloomberg.com, single Americans make up more than half of the adult population—and many of them want to create their own version of the American Dream. Contacting a Trusted Choice® agent can be the key to success for single folks who are in the market to purchase a home, but here are some things to consider in the meantime.

The Lone Ranger
Whether you’re single or married, purchasing a home has its challenges. It’s important to be fully armed with information in order to cultivate a plan that works for you.

To start, make a list of your current monthly expenses, take a gander at your savings account and evaluate your personal and professional goals. When you list your monthly expenses, be sure to consider pending expenses. If you’re fresh out of college, you probably haven’t felt the sting of paying student loans every month and going to work every day. If you have only saved enough for a down payment, think again—moving expenses like rental trucks and purchasing new household items can add up quickly.

Finally, don’t forget about life goals outside purchasing a home—if you plan to start a business or retire in three to five years, owning a home should probably be a dream deferred.

Lending a Helping Hand
The majority of homeowners obtain financing through a bank loan. When a married couple applies for a home loan, the bank can depend on two incomes to pay the loan back. But a single person must qualify and handle making the same payments alone. According to Time.com, “Banks are not allowed to discriminate based on marital status, but tighter lending standards can potentially pose a challenge to single buyers because they only have their own income to qualify for a loan.”

Before applying for a bank loan, be sure to tighten up your credit, pay off as many debts as possible and save a nice nest egg in order to show the bank that you don’t need another person to help you repay your loan.

Protect Yourself
You will likely need to obtain homeowners insurance in order to secure financing from the bank, but don’t wait until you apply for a loan to get insurance. A Trusted Choice agent can be a valuable resource right from the start by giving you tips and connecting you with lenders, realtors and home inspectors—they work with these people on a regular basis.

Being single doesn’t mean you’re alone. A Trusted Choice Agent is the best partner you can have when you’re ready to buy your dream home.

Filled Under: Industry News Posted on: February 15, 2017

A Hot Price for U.S. Businesses

A furious fire can leave business owners with nothing but ashes and expensive damage bills. That’s why it’s important to know and inspect every nook and cranny of your building that could potentially spark flames. Prepare your employees, hazard proof your building and protect your business from a major financial loss due to devastating fires by creating a comprehensive fire protection plan. You can start by checking off each task using our Business Fire Prevention Check-list, which includes making sure your business is covered with fire legal liability insurance.

Filled Under: Industry News Posted on: February 15, 2017

A Hot Price for U.S. Businesses

refernce: https://www.trustedchoice.com/content/2016/02010/a-hot-price-for-us-businesses/
guide: https://www.trustedchoice.com/content/2016/02010/a-hot-price-for-us-businesses/

Filled Under: Industry News Posted on: February 10, 2017

ABOUT STAMY

When you work with the Stamy Agency for all of your insurance and risk-management needs, you become more than a client. You become a member of our family. Our dedication and expertise assures you receive the best policy for your needs and budget. Call today!

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  • 319-396-7304
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