Happy February! This month's update brings you helpful advice, timely insights, and resources you need to know as the month continues.
What's included: Understanding life insurance riders, Valentine's Day and Presidents Day reminders, meet the team, and must-read articles this month.
Understanding Life Insurance Riders: Customizing Your Coverage
The slow month of February is a great time to review your insurance coverage and explore ways to make it work harder for you. One of the most effective ways to customize your protection is through life insurance riders, which amend your basic life insurance policy by adding benefits or changing its terms to give you more flexible coverage.
Here are some common types of riders worth considering:
Long-term care rider - Available with cash value policies like universal or whole life insurance, this rider addresses long-term care needs. If you need care, the funds reduce your policy's death benefit, but your beneficiaries still receive the remaining amount.
Term conversion rider - Allows you to convert term life insurance to permanent life insurance without a medical exam. This is particularly valuable for young parents who want to lock in coverage to protect their families in the future.
Waiver of premium rider - If you become critically ill, disabled, or seriously injured, this rider relieves you of premium payments while keeping your coverage active. It's peace of mind that your policy won't lapse during a difficult time.
Accelerated death benefit rider - If you're diagnosed with a terminal illness, this rider provides you with a cash benefit while living. You can use these funds to improve your quality of life or pay for medical and final expenses.
Scheduled personal property rider - For homeowners, this extends coverage for valuable items like jewelry, art, or collectibles beyond standard policy limits.
While riders come at an additional cost beyond your basic premiums, they are often more affordable than purchasing separate policies. However, it is crucial to evaluate whether a rider truly enhances your policy without duplicating existing coverage.
If you are curious about which riders might make sense for your situation, we are happy to review your coverage and share any recommendations.
Mark Your Calendar
Here are a few key dates and reminders to keep in mind this month.
February 8th is Super Bowl Sunday. America's biggest TV spectacle is here! Whether you're hosting a watch party or heading to a friend's house, remember to drive safely and consider ride-sharing options if alcohol is involved.
February 9th is National Pizza Day. Consider this the perfect excuse to order your favorite pizza and enjoy a delicious slice (or three!).
February 14th is Valentine's Day. Whether you're planning an intimate dinner, celebrating with friends, or spending quality time with family, it's a day to show love and appreciation to the people who matter most.
February 16th is Presidents' Day. This Presidents' Day is a particularly momentous holiday as we celebrate our nation’s 250th year.
February 17th is the Lunar New Year. Nearly 20% of the world's population will celebrate with fireworks, good food, red envelopes, and blessings. It's a vibrant celebration marking new beginnings and prosperity for the year ahead.
February 22nd is National Walk Your Dog Day. Grab your leash, some treats, and your walking shoes, and take your furry friend for a stroll. It's good for both of you and a wonderful way to enjoy some fresh air together!
Ramadan begins in mid-February. The ninth month of the Islamic calendar is one of the holiest months for Muslims worldwide. This year, Ramadan will be observed from mid-February through mid-March as a time of fasting, prayer, reflection, and unity.
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