April 2012 - Bradford PA Insurance - Williams Insurance Agency

Benefits Of Quick Pennsylvania Car Insurance Quotes

April 29, 2012 in auto insurance quote, bodily injury, bradford pennsylvania, low-priced insurance, pennsylvania, pennsylvania car insurance quotes, property damage, ratelock

If you live in Bradford, Pennsylvania and you recently received your auto insurance renewal, it is time to price shop so you can find the lowest premiums.  Many drivers in Pennsylvania accept the fact that their premiums go up each year because they simply do not want to go through the process of pricing insurance.  If you are tired of accepting premium rate hikes, you can get quick Pennsylvania car insurance quotes from the comforts of your own home.  These quick quotes will include 10 different premium rates with a wide range of coverage options so you do not have to keep submitting your personal information to individual agencies.  Learn how you can benefit and find low-priced insurance with comprehensive coverage. 


Submit Your Information Once


Have you ever set up an appointment for an auto insurance quote?  When you visit the agency, it can take an hour just to discuss the type of coverage you want.  After all of that time, you may end up receiving a quote that is higher than what you currently pay.  Time is money in today’s business society.  You can submit your personal information and your vehicle information just once and receive all of the quotes you need to make the best decision for your situation. 


Choose the Right Amount of Coverage


In the state of Pennsylvania, all drivers are required to carry a minimum amount of insurance to pay for damages and injuries when they are negligent.  All drivers must have no less than $15,000 per person and $30,000 per accident of Bodily Injury coverage.  These drivers must also carry $5,000 per accident in Property Damage cover to pay for damages to a third-party vehicle.  When you consider the cost of medical care and vehicle repairs, these limits are not always sufficient.  When you receive quick quotes through one agency, you can compare several different liability limits so you are not stuck with the bare minimums if you are involved in an accident. We even offer the newest “ratelock” option from Erie Insurance. This option allows you the choice of locking in your rate to avoid any surprise rate increases in the future.


Choose the Policy and Pay


Once you review all of the coverage options that are included in the quick quotes you can decide which policy you can afford.  Simply tell the agency which quote strikes your fancy and then discuss payment arrangements.  After you make your first payment and select your policy effective date you can request an ID card.  Switching from your old insurance to a new insurance provider has never been easier. 


Stop paying too much for your auto insurance because you do not have time to schedule appointments at your local Bradford agency.  If you want to switch insurers so you can save money, get 10 quotes at once and you are bound to find a policy that will meet your needs.  Never sacrifice quality coverage for affordability when you are trying to save money.  Choose liability limits that will protect your assets and give you peace of mind while you are on Pennsylvania roadways.  Request your quick quotes today and discuss the options with the agency so you know what you are paying for.

Life Insurance for Children and Grandchildren

April 25, 2012 in bradford, Bradford PA, bradford pennsylvania, cash value, funeral expenses, life insurance, Life insurance bradford, life insurance for your child, life insurance policy

Once you move from single person to married person, and then to married with child, the issue of whether or not to purchase life insurance for that child will need to be examined. There are many different reasons for purchasing insurance and various insurance options to explore. We will do some of that exploring in this article.

Why purchase life insurance for your child or grandchild?

There are many answers to this question and some of them are:

  • They will always be insured
  • You get peace of mind
  • The policy can build cash value
  • Small policies are affordable
  • The rate is locked in
  • Future health insurance issues
  • Provide collateral

Now that you’ve had a chance to see the main reasons for purchasing life insurance for your child or grandchild, we will examine each reason in depth.

  1. 1.      They will always be insured.

This is a big one. When you purchase a policy for a child, it will remain in effect for as long as you continue to pay the premiums – for life. No matter what the future has in store for your child, he or she will always have this policy unless they decide to cancel it. They will not need to re-qualify, and the insurance company can never cancel the policy as long as the premiums continue to be paid.

  1. 2.      You get peace of mind.

Should the unthinkable happen and your child die due to an accident or illness, then at least the funeral expenses will not be an additional burden. This is not a scenario that we ever want to consider, but it does happen. Burial costs are high and getting higher. Many parents do not have that much cash readily available to pay for such an expense. A $10,000 to $15,000 life insurance policy is inexpensive and more than enough to cover the costs.

  1. 3.      The policy will build cash value.

This is a feature that you want to make sure is built into any life insurance policy that you purchase for your child. In order for your policy to accrue cash value, you need to purchase a whole life policy. As the years pass and the premiums are paid, the policy’s cash value increases. By the time your child is 18, there could be a substantial savings available. That cash could be used to help pay for college expenses, or buy a car.

  1. 4.      Small policies are affordable

A life insurance policy doesn’t need to be a major affair. You don’t need hundreds of thousands of dollars in coverage. A $5,000 to $15,000 policy is a good start and can be purchased for about $5 to $15 a month. Most insurance companies give you opportunities to increase your coverage over the years, and you can take advantage of these offers if you choose to boost the dollar amounts.

  1. 5.      The rate is locked in.

This is another major reason to purchase life insurance policies for your children when they are very young. When you buy a policy for your child, that rate is locked in, fixed for the life of the policy. The premium will never change or increase for as long as you choose to keep the policy. The premium you pay when you child is 5, will be the same premium that he or she pays at 75.

  1. 6.      Future health insurance issues.

We never know what the future may hold. If your child develops health problems later in adolescence or adulthood, obtaining life insurance then could be costly and difficult. By having a policy as a child, they only need to continue making payments to ensure that they have a policy in effect, regardless of their current health conditions.

  1. 7.      Provide collateral

A benefit that is often overlooked is the potential for a whole life insurance policy with cash value to provide collateral for your child later in life. As adults they may need to obtain a loan for a house or a business, and may not have much to offer as collateral for that loan. They can borrow against the cash value of their life insurance policy to get the loan that they desire.


As with any type of insurance policy, always read the policy carefully, and ask questions to make sure that you want out of the policy is what you are getting. Policies vary from company to company and you want to be sure that all of the features that you are looking for are included in the policy you purchase.



Finding The Best Pennsylvania Motorcycyle Insurance Rates

April 15, 2012 in bradford, Bradford PA, bradford pennsylvania, motorcycle insurance, motorcycle insurance bradford, motorcycle insurance rate, motorcycle insurance rates

Finding the best Pennsylvania motorcycyle insurance rates starts with a knowledgeable agent. This professional uses a four step process to find the best policy for his or her client. The agent gathers information and contacts insurance providers. After the different policies are compared, the agent presents the findings to the biker.


The Protection


Although the state only requires minimal Pennsylvania motorcycle insurance, these policies do not protect the bike. Pennsylvania is a no-fault insurance state which means every vehicle operated in the state must have Personal Injury Protection as well as liability and property damage insurance. These minimum limits are $5000 for medical, $5000 for property damage and $15,000 per person with a total of $30,000 per accident for liability coverage.


The Problem

Problems with these Pennsylvania motorcycle insurance policies are twofold. The bike is not protected against theft or damage. Low limits may not cover serious injuries to people or property.


How Agents Help

An experienced agent representing many pa cycle insurance companies gets information from the biker and shops for the best policies and rates. Required information includes the driver’s age, gender and driving history including years of MC experience. The year, make, model and horsepower of the bike affect costs. Next, this insurance expert contacts insurance providers.


The Policy

After completing the research, this expert consults the client. To save money, the agent may suggest combining insurance policies. By writing one policy on a motorcycle and pickup or a motorcycle and a home, the policyholder saves money on both documents. Motorcyclists with only a year or two of experience earn discounts when they take special driving courses. These special training programs give inexperienced cyclists road knowledge that keeps them out of trouble and out of accidents. Classes cover how to handle heavy bikes on different road surfaces and in wet conditions.

Agents also discussed comprehensive and collision coverage on this valuable piece of high-powered equipment. Increasing the amount of deductibles reduces premiums. Motorcycles with antitheft features qualify for discounts. Many bikers are surprised to learn their safety riding apparel may be covered under these policies. After all, helmets, gloves and motorcycle boots protect vulnerable body parts from injury.


The Coverage

Pennsylvania motorcycle insurance also protects the financial future of bike riders and bike owners. Higher limits on medical and liability adequately cover the medical expenses of injured people. Personal Injury Protection pays for more than the medical bills; this insurance also covers lost wages. A broken leg may keep someone in the hospital for weeks or months.

The fastest and easiest way to find the cheapest Pennsylvania motorcycle insurance rates is to contact an experienced insurance agent who represents different insurance providers. Because this person understands insurance, he or she will gather information and compare the premiums offered by these companies. This expert knows the discounts pa cycle insurance companies offer and how to take advantage of them for each client. With this expert help, motorcycle owners will get the protection they need to protect themselves, their bike and their financial future.

Annuities Part # 6

April 11, 2012 in annuities, indexed annuities, variable annuities

Index Annuities

Index annuities are a hybrid of fixed and variable annuities. Like fixed annuities, they require just one, up-front payment. Like variable annuities, their rates vary based on market performance, but unlike variables, the investor is protected from losses. They are linked to a market index such as Standard & Poor’s 500, Dow Jones Industrial Average, NASDAQ, or Russell 2000. The growth potential of index annuities is strong, averaging 10-15% in years that the market is up, and 1-3% in years that the market is down.

According to the Equity Indexed Annuity Guide, index annuities generally feature:

v  Single Premium — Buy into the contract with a single lump-sum payment. Further investment typically requires additional contracts.

v  Invest in the Market — Linked to an index like the S&P 500. Equity indices outperform debt-based vehicles like CDs or bonds in the long-term.

v  Minimum Guaranteed Rate — No matter how much the market drops in a given year your account will grow at the 1-3% baseline rate.

v  Low Risk — Can’t lose principle. Money can only be lost if the insurer becomes insolvent and your investment exceeds state annuity insurance.

v  Good Growth — Ideal for investors looking for stock market growth and coverage against bad years. Good retirement vehicle.

v  Variable Returns — Annual rate of return varies based on index performance.

v  Hassle Free — No micro management. Sign the contract, pay the premium.

v  Vesting Schedule — Withdraw earnings early without penalties, up to certain amounts.

v  1-10 Year Term — Index annuities are available for short, medium, or long terms.

v  Tax Deferral — Pay nothing on interest earned until you cash out.

v  Life Insurance — Optional life insurance provision offers death benefits to loved ones. Save money on separate life policy.

v  Inheritance — Bequeath money to loved ones probate-free. Avoid estate/death taxes.

v  Tax-Free Gifts — Gift up to $10,000 per individual, per year, tax-free. Gift money to an unlimited number of individuals.

(Information from freeannuityrates.com)

Index annuities’ growth is based on a participation rate. This is a percentage of a particular index’s growth, usually below 90%. That participation rate is credited to the annuity owner’s account. For example, say that an annuity is tied to the Dow Jones, at a 70% participation rate. If the Dow Jones grows 15% in one year, then the annuity will receive 70% of that 15% growth, equaling a 10 ½ % annual rate of growth for the annuity. All index annuities have a safety feature – a minimum rate guarantee. This minimum may vary from contract to contract, but it guarantees that no matter how low the index may fall, the annuity investor will not earn below


Like other annuities, index annuities are also tax-deferred. This makes it an excellent choice for retirees, because you account accumulates in value, tax-free, until you enter the distribution phase.

The distribution phase of an index annuity is very similar to that of a variable annuity. Once the annuity holder enters the distribution phase, he or she can decide to receive a lump sum or regular payments for either a defined period of time, or for life. These decisions will be detailed in the annuity contract. If regular payments are the chosen form of distribution, they can be monthly, quarterly, or annual payments. The length of time the annuity holder chooses for the payouts determines the amount of the payout. For instance, regular payments for a period of 20 years will be larger than payments for life.

Like other annuities, index annuities also include a death benefit. The benefit will vary depending upon the insurance company and the contract, but most will pay the beneficiary at least the amount of the premium that was paid in by the annuity owner. The death benefit will be subject to both state and federal income and/or capital gains tax.


Annuities Part # 5

April 4, 2012 in annuities, fixed annuities, variable annuities

Variable Annuities

The difference between variable and fixed annuities is just that – one is variable and the other is fixed. Variable annuities are designed to be an investment option much like a 401k; there is no guaranteed rate. Instead, they are professionally managed portfolios containing accounts that are invested in market-linked equities and bonds. The annuity holder has the authority to tell the portfolio manager which investments to make and how to distribute the money across the accounts. Because of this, variable annuities can be full growth as well as full loss investment accounts. One year the annuity might yield a 15% gain, while the next might average a 7% loss. Overall, though, variable annuities usually surpass fixed annuities with an average yield of 12% over a 30-year span.

Variable annuities usually invest in the following asset classes:

  • Money market
  • Government Bonds (short-term, intermediate-term, and long-term)
  • Corporate Bonds
  • U.S. Stocks (blue-chip, aggressive, sector-specific)
  • International Stocks

Good variable annuity accounts should be both diversified and well-allocated. Diversified accounts include multiple investments within an asset class, such as owning a variety of stocks from different industries. Asset allocation can be described as investing in multiple asset classes, like stocks, money markets, and bonds. Positive asset allocation and diversification can minimize your exposure to risky investment mediums. Because variable annuities include the risk of loss and many of their investment instruments include securities, they are regulated by the Securities and Exchange Commission as well as the federal government and the state of Pennsylvania. Ultimately, however, the annuity holder is the investor and is responsible for the risk posed by the investment. It is always advisable to read the investment prospectus to be as informed and aware as possible.

Although variable annuities can be set up as immediate annuities, they are most often deferred annuities. As we discussed in previous articles, deferred annuities have an accumulation phase and a disbursement phase. Details of both phases are outlined in the annuity contract. The accumulation phase can span several years or even decades. The method of payment to the account is also detailed in the contract. The annuity holder then has the option to invest the money as he or she sees fit. The holder can select from a variety of funds ranging from conservative to aggressive, or safe to risky.

As with all annuities, the earnings on the annuity are tax-deferred until the holder reaches age 59 ½ and begins receiving regular disbursements. Also, like other annuities, the holder will incur substantial penalties if funds are withdrawn from the account before age 59 ½. The IRS will impose a 10% penalty and the insurance company will impose a surrender charge, which is a penalty for early withdrawal.

 Once the annuity holder enters the distribution phase, he or she can decide to receive a lump sum or regular payments for either a defined period of time, or for life. These decisions will be detailed in the annuity contract. If regular payments are the chosen form of distribution, they can be monthly, quarterly, or annual payments. The length of time the annuity holder chooses for the payouts determines the amount of the payout. For instance, regular payments for a period of 20 years will be larger than payments for life.

Like other annuities, variable annuities do include a death benefit. The benefit will vary depending upon the insurance company and the contract, but most will pay the beneficiary at least the amount of the premium that was paid in by the annuity owner. The death benefit will be subject to both state and federal income and/or capital gains tax.



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