According to the National Weather Service, lightning deaths were most common in the South during 2016. The majority of deaths occurred in open fields or in yards. In 2015, there were 27 deaths. This was an increase from 26 the previous year and 23 in 2013. 

When there is a thunderstorm in the area, it is important to stay current with weather reports because a storm does not have to be considered severe for a person to be struck by lightning. Remember that the sound of thunder indicates nearby lightning and there is no safe area outdoors. Standing under trees in a yard or under an open carport will not make a person safer. Gazebos and other similar structures should also be avoided.

What To Do When There Is Thunder

At the first rumble, move to a safe enclosed area and close the windows and doors. Whenever possible, stay in a building that has plumbing and electricity. If a thunderstorm develops while traveling, stay in the vehicle and keep the windows up. Metal-topped vehicles are safer than soft-top vehicles. After finding shelter, stay there for 30 minutes after the last rumble of thunder. In several instances, people had been struck by lightning because they wrongly assumed that the storm had passed.

Indoor Safety Tips

Lightning can also cause damage to appliances and electronics. When a storm is in progress, avoid using a corded phone. Do not use computers if they are plugged into a hard-wired connection source or electrical outlet. Avoid using any other appliance or electronic device that is plugged into a power outlet. Do not take a shower, wash dishes in a sink or use faucets to wash hands. Keep bottled water available to drink during thunderstorms. Stay away from windows or doors during the storm, and never step out onto the porch to watch the lightning. This is true even if the porch is screened or has glass windows. If there are concrete floors or walls, stay away from them.

Outdoor Emergency Safety Tips

It may not always be possible to find shelter immediately when thunder rumbles. If there is no form of shelter nearby, take the following steps to reduce risks:

• Stay away from elevated areas such as hills or platforms.
• Do not lie flat on the ground.
• Do not stand under a rocky overhang for shelter.
• Do not use an isolated tree for shelter.
• Stay away from barbed wire, power fences and other conductors of electricity.
• Do not go near lakes, ponds or other bodies of water.

While driving, look for power lines that have fallen down. Do not drive near them or over them whether there is water present or not. To learn more about lightning safety, discuss concerns with our office.

Since most homeowners are also mortgage holders, they are required to have home insurance. However, most renters are not required to purchase renter's insurance according to the terms of a lease. They face many of the same risks as homeowners. Although renters do not have to pay for the actual structure that is rented, they are responsible for covering their personal belongings that they bring into the structure. Most renters do not purchase insurance because they feel that it is too expensive. Average policies range between $15 and $30 per month. 

In comparison with the cost of replacing expensive belongings, the monthly premium is a good deal. This is especially true since renters have no control over the actions of other renters who may be careless. Fires destroy hundreds of apartment complexes every year. Some renters do not purchase coverage because they own very few valuables. However, insurers encourage renters to tally up the value of even their small-ticket items. Dishes, furniture, clothing and other belongings often total well into the thousands even for renters who do not have expensive possessions. A basic policy will cover the cost of replacing necessities.

One of the biggest misconceptions about insurance is that the landlord's policy will also cover the renter's belongings. This is not true. The landlord's policy only covers the building and certain features like plumbing fixtures, pipes, wiring and other things that a renter will leave behind when moving out. 

How Much Renter's Insurance Is Needed?
The best way to determine how much coverage to choose is to talk to an agent who will collect information about belongings. An agent can suggest how much coverage to buy based on the value of current possessions. An agent will also be glad to explain what certain terms mean. These are some additional issues to consider:

• Does the insurance plan affect roommates?
• Does the insurance plan cover all existing hazards?
• Is any additional coverage needed?
• How much liability coverage does the plan include?

Renter's Insurance Discount
Some insurance companies offer discounts if there are fire extinguishers, burglar alarms, sprinkler systems or other safety features on the rental property. Also, some insurers may offer discounts if a policyholder has other types of insurance with the carrier. Ask about bundling discounts.

Natural Disasters
Some areas are more prone to flooding or earthquakes. Damages from such disasters are not usually covered under a standard renter's policy. Ask an agent about extra coverage when renting in a high-risk area.

Pets
Certain cities require owners of specific types of pets or dog breeds to carry insurance. Owners of these pets may have to pay more for renter's insurance if their pets or pet-related incidents are not covered under the standard provisions.

​Temporary Relocation
If something happens to the rental unit that makes it inhabitable for a period of time, renter's insurance covers the cost of living elsewhere temporarily. Some examples of such damages include fires and toxic substances.

Renter's insurance includes personal liability insurance, which covers injuries to others who visit the renter's property. If a renter's insurance claim must be filed, it is important to take pictures of any damage or issue. Contact an agent immediately for help in filing a claim to ensure a quicker process. To learn more about renter's insurance coverage, speak with our office.

There were over 77 million domestic dogs residing in homes across the United States between 2015 and 2016. This was a finding in a survey conducted by the American Pet Products Association. According to the Centers for Disease Control, there are over 4.5 million dog bites reported each year. Of that amount, almost 900,000 require medical care, and about 50 percent of those cases involve children. While some insurers will cover most dogs, some will not insure a long list of specific breeds. Dobermans and pit bulls are on many of the exclusion lists. Some insurers do not discriminate by breed and instead determine a dog's status by individual evaluation.

Dog Owners Are Typically Liable For Bites

If their pets bite guests or people who come on their property, owners are almost always liable for the damages. A dog does not have to be on a list of vicious breeds to make an owner liable in some cases. If an owner knew of a dog's tendency to bite and it can be proven through records of similar incidents, the owner is liable. In some other cases, the owner is not liable if the dog did not have a known propensity to bite and was not considered a vicious breed. For example, a mellow cocker spaniel biting a person for the first time may not result in responsibility by the owner. However, a pit bull biting a person for the first time would likely result in the owner being held liable.

In Texas, insurers can deny coverage to people with certain breeds of dogs and can cancel coverage if the owner obtains those breeds during the policy period. In other states, insurers are not allowed to deny coverage to people with certain breeds of dogs, and they are not allowed to cancel policies if people obtain questionable breeds. However, dog owners are required to buy additional liability insurance in some states if they own certain breeds of dogs. There are three types of laws that put liability on dog owners. They include the following:

• A bite statute places automatic liability on the owner for any injuries.
• A one-bite rule places liability on the owner only if he or she knew of the dog's propensity to bite.
• Negligence laws place liability on an owner if the owner is careless in controlling the animal.

 
Impact Of Dog Bites

In 2015, dog bite claims made up almost 35 percent of all liability claims among homeowners. The total amount paid by insurers in claims was over $570 million. Although the number of bite claims decreased by more than 7 percent in 2015, the average claim cost increased by 16 percent. The average claim cost in the United States in 2015 for claims of this type was over $37,000. California led the nation in the highest number of claims at almost 1,700 for the year. Claim costs have risen steadily over the past few years, which is mostly due to the rising costs of medical care and the larger settlement awards for lawsuits.

Not all claim amounts were attributable only to dog bites. In addition to biting people, dogs also knocked down children and elderly individuals, which resulted in additional injuries. They also knocked cyclists off of their bikes and caused damage to both the cyclists and their bikes. Other factors also increased the severity of some incidents and led to higher claim amounts. 

Dog owners can help reduce the number of claims made by being responsible. Keep pets in crates or in a locked room when guests visit or when service workers come to the house. For outdoor pets, provide sturdy fencing and a locked gate. Always display signs that alert people of the dog's presence. If there is no fence around the yard, keep the dog on a leash when taking it outdoors. To be safe, do not let strangers pet the dog. One incident can be costly and may even result in the dog being put to sleep in some places. To learn more about preventing costly dog bites, discuss your concerns with us.

Life insurance policies and retirement accounts can last for a long time - typically decades. A lot may have changed since you bought that life insurance policy, or set up that IRA or old 401(k) account. Job changes, marriages, divorces, births, deaths, adoptions, and all manner of other life passages can combine to make it desirable to change the named beneficiaries on all these accounts.

Simply updating your will from time to time isn't enough to protect your family and loved ones in most cases. You need to look at the specific individuals named as beneficiaries on your life insurance and retirement accounts, as a minimum, in order to protect their interests and avert financial disasters such as accidentally disinheriting a cherished stepchild or long-time life partner. A regular review of your financial accounts should be part of your financial planning routine.

The importance of named beneficiaries 
Normally, when a person dies, his or her assets go to a surviving spouse. If there is no surviving spouse, the assets generally go through probate. In probate, court officials will go through the assets and distribute them to known creditors. Tax collectors and creditors get to collect on the deceased assets before the remainder is distributed to heirs. This process can be long and expensive, and take months and sometimes years to complete - which can present hardships to surviving loved ones, who may be incurring expenses themselves.
When you specify a beneficiary, by name, on a life insurance or annuity, the assets bypass probate. They are handled under contract law, rather than probate law, and your loved ones can receive the assets in a matter of days, not months, and probate attorneys don't generally subtract money owed to creditors or the IRS from these assets. 

Life insurance beneficiaries
Generally, life insurance beneficiaries should be those most harmed by your death. But you can select and change the beneficiaries on a policy you own as you see fit. Reviewing your life insurance beneficiaries regularly, including contingent beneficiaries.
Here are some common circumstances that may result in the need to change beneficiaries:

• A beneficiary may die.
• You may divorce or marry.
• You may have another child or grandchild you wish to include.
• A child grows up and no longer needs a trust or trustee to receive the money on his or her behalf.
• You may clear a debt secured by the life insurance policy.
• You have a change in business partners.
• A beneficiary may prove to be a spendthrift and not capable of handling large sums of money.
• A beneficiary is disabled and inheriting money could result in making him or her ineligible for need-based benefits such as Medicaid or food stamps. In this case, you may want to set up a special needs trust to receive the money on his or her behalf.
• You want to compensate a beloved family member or caretaker for time spent caring for you later in life.
• Creditors may seize any money that goes to a given beneficiary, such that the money is better left to a trust or another family member.
• You may want to name a charity as a beneficiary, or change that charity.
• There is someone new who would be greatly harmed by your death.

​Don't Forget Retirement Accounts
In some cases, naming beneficiaries on retirement accounts entitles heirs to tax advantages they would not get if they were not named designated beneficiaries. So it's important to include your retirement accounts, including 401(k)s, 403(b)s, IRAs, SEPs and SIMPLE IRAs when you are doing a routine beneficiary review.
For more information, or to schedule an annual beneficiary review and insurance checkup, call your insurance or financial professional today. 

For those with a history of health problems or pre-existing conditions, it can be more difficult to get life insurance. In some cases you may have to shop around more for coverage, or pay more in premiums for a given level of coverage. But in most cases it's quite possible even for those with some health challenges to find quality life insurance at a surprisingly affordable price. Don't count yourself out without speaking to an agent first.

Common Medical Conditions
Different life insurance companies underwrite specific medical conditions in different ways. For example, consider the following common medical conditions:

• Diabetes  - Much depends on whether you have type 1 or type 2 diabetes. If you are insulin-dependent, you may have more trouble getting coverage. However, people with type 2 diabetes that's well under control can still qualify for very affordable rates, particularly if they are not overweight and have normal blood pressure and no other health problems.
• Cancer - If you have a current cancer diagnosis, and/or you are currently under treatment for cancer, you will likely have trouble getting anything more than a small guaranteed issue policy in place. However, if your cancer has been in remission for longer than about five years (depending on the type of cancer), you may be eligible for coverage. The longer you are in remission, the less expensive your coverage is likely to be.
• HIV/AIDS - Thanks to recent advances in managing HIV-positive status, an increasing number of life insurance companies are now willing to issue life insurance policies to individuals who have tested positive for HIV. You can expect some extensive testing and underwriting to ensure that your risk status is as stated on your application.
• Obesity - Most carriers will determine your height and weight, and use those to determine your body mass index, or BMI. The more overweight you are, the higher the premiums you are likely to pay.  Most carriers have a cap on the level of obesity they are willing to write. However, if you lose the weight, and keep it off for a reasonable period of time, you will generally qualify for better rates.
• Smoking - Nearly all life insurance carriers will charge a higher premium to smokers than to nonsmokers. But smokers can still generally get covered if there are no other medical pre-existing conditions, or if they are minor. If you can quit smoking for at least a year, you may be able to qualify for non-smoker rates.
• Hypertension - Many carriers regularly issue policies to people suffering from hypertension, or high blood pressure, provided they can show that they are able to keep their condition under control. Expect to pay a higher premium than 'preferred' individuals, depending on severity. If you can control blood pressure through weight loss and exercise, over time, you may even be able to qualify for better rates in the future by reapplying.
• Guaranteed Issue Life Insurance - Some carriers promise no medical exam, or that you cannot be turned down for coverage. These carriers usually issue very small, limited final expense plans or supplementary coverage. There may be substantial exclusions on the policy itself. As such, these policies should be considered last resorts. But in some circumstances they can still make sense.

What You Can Do Now
If you have a pre-existing medical condition of any kind, it helps to work with an experienced life insurance agent who understands the underwriting practices at different companies, and who can route your application to the carrier most likely to give you a fair price.  In some cases, a well-written letter to the underwriter from an experienced agent can make a great deal of difference.
​
Meanwhile, do the best you can to get your condition under control. Watch your weight and blood pressure, and remain physically active. Underwriters often take account of recent trends, and if your medical records are showing steady improvement over a period of time, you may get a better rating.

     The Department of Housing and Urban Development Office of Inspector General and the Federal Bureau of Investigation are encouraging all consumers but especially senior citizens to watch for reverse mortgage scams. Reverse mortgage products are home equity conversions, which are another type of mortgage. They have increased by more than 1,000 percent in the past decade, which resulted in more opportunities for fraudulent products surfacing.

     Unethical professionals are the ones behind these reverse mortgage scams. They use financial services, real estate and other related businesses to take victims' home equity. They are known to prey on unsuspecting senior citizens who wind up inadvertently helping them steal the equity on flipped properties. In many scam incidents that are reported, elderly victims are enticed by perpetrators offering free homes, refinance assistance, foreclosure help or investment opportunities. In addition to this, they are used as straw buyers in scams designed for flipping homes. Some common places where seniors are often targeted include churches, television, mail advertisements, investment seminars, radio commercials and billboards.

     A real HECM product will be identifiable because the Federal Housing Authority insures it. This type of product gives homeowners who are eligible the chance to access their home equity by providing funds without monthly payments incurring. To be eligible, borrowers must be 62 years of age or older, and the property must be their primary residence. Also, it can apply to homeowners who have small mortgage balances. Specifics for this program are outlined in the FBI/HUD Intelligence Bulletin. There is also information about other investment schemes and foreclosure rescues.

     There are several ways to avoid reverse mortgage scams. All homeowners and especially seniors should be aware of warning signs. Avoid responding to any unsolicited advertisements. This includes business cards left in various places, mailers and fliers. If anyone is claiming it is possible to buy a home with no down payment, be suspicious and aware that this is assuredly a scam. When the terms of any contract are not understandable, avoid signing it. The broker or agent should explain the terms, but unclear answers are a telltale sign of a scam. Never accept money for a home that was not individually purchased. Always ask for the advice of a qualified and experienced professional when seeking a reverse mortgage.

Victims of this type of fraud can file complaints by submitting their information through a local FBI office or the electronic tip line. It is also possible to file a complaint with HUD-OIG by calling their hotline. For more information about this topic or for further advice, discuss concerns with us.

​     Sadly, thousands of Americans lose their homes every year because they can no longer make the insurance and mortgage payments on their home following the unexpected death or disability of a family breadwinner.
In many cases, this is unnecessary. Term life insurance in amounts more than sufficient to pay off a home or replace most of a breadwinner's income is more affordable now than it has been in generations. But too many American families simply don't have enough life insurance protection to enable them to remain in their homes in the event the unthinkable happens. While about 60 percent of Americans report owning life insurance of some kind, half of American families do not have anywhere near the coverage required to meet the needs of their families, according to a recent survey by Bankrate.

     Families with children at home are especially at risk. Over a third of those households report having no life insurance in place at all. Another third has $100,000 or less - enough to replace two to four years of a middle-class breadwinner's income, at best. That amount is almost certainly not enough to cover the need of a young family unless they were already wealthy.

Without adequate life insurance in place, the financial problems don't end with life insurance. Many families have serious trouble meeting basic expenses after a loved one dies:

• Car payments and car insurance
• Utilities
• Amassing first and last month's rent to get an apartment
• Burial costs
• Medical and disability insurance premiums
• Medical insurance deductibles and copays
• Child care costs
• Private school tuition
• College savings
• School supplies
• …and much more.

What Can Happen to Your Mortgage
     With life insurance in place, survivors have choices: They can pay off the mortgage with a tax-free death benefit in a matter of days, if they choose. Or they can save or invest the death benefit and continue to make the mortgage payments to continue to take advantage of the mortgage interest deduction. If the deceased was your spouse, and the mortgage is in his or her name, you have the option to simply alert the mortgage holder that the original borrower has passed away, and you may keep the mortgage as long as you can make the payments. If the mortgage is in the name of the deceased individual who is not a spouse, lender often has the ability to call the loan - that is, demand immediate payment, or foreclose on the home under a 'due-on-sale' clause in the mortgage contract. However, if a widow or widower is making payments on the loan, this would be highly unusual. With enough life insurance in place, though, this is not an immediate crisis, since the survivors would have enough resources to purchase the home outright or could easily qualify for a new mortgage.

Alternatives
If you don't have life insurance in place, or the amount is not sufficient to cover your mortgage, there are some alternatives that may help:

1.)  
Reverse mortgages. If you are age 62 or older, and you have some equity in your home, you may be able to qualify for a reverse mortgage. In this arrangement, a lender converts your home equity to income, and pays you a monthly amount for as long as you remain in your home. The income is based on your life expectancy.

2.)  
Retirement fund distributions. Normally, you must pay a 10 percent early withdrawal penalty, plus any taxes due, if you tap an IRA before you are age 59½. But the law allows you to make early withdrawals penalty-free in the event you must make the withdrawal to avoid foreclosure or eviction, or to pay health insurance premiums.

3.)  
​Invest personal savings for more income. If you have some savings, speak with your annuity or investment advisor. You may be able to position your assets to generate some more income.
Most of the time, these are stopgap measures. They do not take the place of a well thought out and resourced risk management and insurance protection strategy for younger families, nor can they replace the failure to save money in advance in the event the surviving family member is older.
Every case is different. But if you are currently underinsured, or you believe your home would be at risk in the event of the death of a breadwinner, today's the day to begin laying the groundwork for ensuring your family is adequately protected.