Amica
SUMMER 2011
Taking
the plunge
What to do after
the “I do” – making the
financial commitment.
Inside
Tips for hurricane season
Understanding annuities
Fight insurance fraud
PUBLISHED FOR POLICYHOLDERS & FRIENDS OF AMICA
Vow for tomorrow
While your job may offer
employer-provided group life insur-
ance, it’s important to remember
Life
that you shouldn’t rely solely on
Annuities explained
this coverage. Group life insurance
Life insurance provides options generally only provides coverage
equal to one or two times your
salary, which is much less than
Summer and early fall the recommended amount. In It’s never too early to start planning for your retirement — and
bring the height of the wedding some cases, this insurance is annuities are one of the perfect ways to do so. An annuity is a
season, with countless brides Examine your options also not transferable, so you may financial account which builds over time. It can then be used as a
and grooms planning their picture- not be able to keep your coverage source of personal income over a specific time interval, such as for
It’s all about balance: you paying college expenses, enjoying a richer retirement or, depending
perfect day during these warm if you change or lose your job.
want to get life insurance that’s on the policy, providing an extra income source over the rest of
and beautiful months. In the
midst of picking out bridesmaids’
affordable and fits into your We’re here for you your life.
budget, but you also want to make Amica annuities offer a fixed interest rate for the first year and
dresses, invitations, a venue It’s never too soon to make
sure you have adequate coverage. can change thereafter, but the rate is guaranteed by Amica not to
and flowers, it’s easy to overlook sure you and your significant other
all of the other commitments are protected. We’ll explain all of go below a certain percentage, which varies by state. This percent-
that come with joining two your options and help you find the age is often higher than average savings and CD interest rates.
lives, including life insurance. There are two basic life insurance that fits your budget You can choose a single-premium annuity, which requires at least
Whether you’re engaged to $5,000 to open, or a flexible-premium annuity, which can be opened
be married, a newlywed or have
types of life insurance and your needs.
with just $50.
Amica customers may be eli-
been married for a while, it’s that you can look into: gible for a multi-line discount on Both single-and flexible-premium annuities may be set up as IRA
important to consider the finan- their auto policy when they pur- annuities, depending on your taxable income. With this option, you
cial commitments that come with chase a life policy.* To have a life may be able to take a tax deduction for your IRA contribution each
your partnership. Couples just Term insurance – provides protection for a specific, insurance professional review and year you contribute, depending on your income and other pension
starting out often purchase a evaluate your needs or help you plans. And your IRA annuity’s earnings will build tax-free until you
new home and may plan on limited amount of time – usually in five-year segments, such withdraw them.
determine whether your existing
having children in the near future. as for 5, 10, 15, 20, 25, 30 or 40 years. In the vast majority coverage is adequate, call Amica
Life insurance helps to ensure
of policies, the cost of term life insurance covers only death Life at 800-619-6077. Some benefits of annuities are:
that you or your spouse will be
financially secure should one of benefits and policy expenses. It does not accumulate cash value. • Tax-deferred earnings allow you
you die. But it’s also one of the Initially, this is the least expensive option – although in the long To do for two to accumulate more money.
most affordable ways for young
couples to protect their long-term
run it may be more costly – and is generally convertible to a Make sure these important items
• Our funds are invested to grow over time,
are added to your list of things to
financial goals. permanent policy. offering you more income potential.
do before and after the wedding:
“Planning a wedding is an
• Funds can be distributed to you in a
exciting and hectic time for
many couples, a symbol of
Cash value / permanent insurance – designed • Review your life insurance needs lump sum or as periodic payments.
starting their lives together and to stay in force for an individual’s entire life. The main advantages • Insure your engagement • There are no administrative fees,
making a lifelong commitment
of this policy type include a premium that does not increase over ring and/or wedding bands sales charges or service fees.
to each other,” said Ed Naya,
time, and a cash value that accumulates over the life of the policy. • Review your • You can choose the payment
assistant vice president at
homeowners coverage option that best suits
Amica Life. “An important part Whole life has a cash value that can be accessed if needed and
of that commitment is life insur- • Add your spouse to your needs and situation.
can provide you with a guaranteed income after retirement.
ance, since couples depend your auto insurance policy
on each other for many Consider the possibilities with
• Consider name and address the promise of lifetime income.
financial responsibilities.”
changes – review your driver’s Contact an Amica Life representative
license, passport, social security at 800-619-6077 to discuss your options.
card and bank information
Amica Amica Today is published quarterly for policyholders and friends of Amica Mutual
Insurance Company and is available online at www.amica.com/learningcenter.
Follow us on
• Consider filing jointly for taxes
To stop receiving future print editions or to send comments, please contact Lauren Carroccia at lcarroccia@amica.com
or Amica Today, Corporate Communications, P.O. Box 6008, Providence, RI 02940-6008.
*Not available in all states.
2 3
Fire and Home Home
Improvement Safety Tips for hurricane season
Grilling dangers
Summer is a great time to enjoy the outdoors with family and friends, and one popular Hurricane season runs from June 1 through November 30,
get-together is a cookout. Now is the perfect time to review grill safety so you can be so it’s important to be prepared for potential upcoming storms.
worry-free and relaxed for the entire summer. “Hurricane season can be very unpredictable, so it’s especially
important to be aware of how to keep your loved ones, your
The National Fire Protection Association offers several safety tips for grilling home and your pets safe during a hurricane,” said Lisa St. Onge,
with both propane and charcoal grills. an assistant vice president in Amica’s claims executive department.
• Before using a propane grill for the first time each year, check the gas
tank for leaks. Apply a light soap and water solution to the hose. If bubbles Here are some of the things
are released, there is most likely a propane leak. Be sure to get the grill serviced
by a professional before using it again. you can do now to prepare:
• If you’re using charcoal starter fluid or newspaper to start the grill, never add • Organize an emergency supply kit and stock up on
any flammable liquids to the fire. Use an extension cord when using an electric non-perishable food and water.
charcoal starter. • Create an evacuation plan, including ways to let your
• Let the coals completely cool before disposing them in a metal container. Working with family know you’re safe after a storm.
• Keep your grill clean by removing grease or fat buildup from the grills and oil-based paints, • Compile a list of emergency numbers, including family
members, friends and neighbors.
in trays below the grill. stains and
• Make arrangements for your pets, especially if you may
• Do not grill near the home, deck railings, underneath eaves or varnishes have to evacuate during a storm.
overhanging branches.
The do-it-yourself craze is
• Plan home improvement projects that will make your home
becoming increasingly popular,
more resistant to storm damage.
but staining furniture, decks or
stripping paint presents a danger- • Review your insurance policy to see if you’re covered for
Common sources of household fires ous fire hazard. storm-related damage.
Rags covered in an oil-based
At Amica, we often see fire claims caused by the following conditions. It’s important
wood stain, paint, sealer or • Prepare an inventory of your belongings in case you need
for homeowners to recognize these potentially dangerous conditions, and work to
varnish are extremely flammable, to file a claim.
eliminate or reduce the risks. Most of these fires are completely preventable.
and disposing of them improp-
Visit Amica’s Storm Center at www.amica.com/stormcenter.
erly increases the risk of a fire.
• Properly dispose of smoking materials and ashes/embers from a grill or fireplace away from the home “Immediately after use, place rags,
in fireproof metal containers. Own a smartphone
steel wool or waste in a sealed,
with a QR Reader app?
• Be sure to turn off the stove if you have to leave it unattended – even if for a few minutes. If a grease water-filled metal container,”
advised Sean Welch, a senior
fire occurs, do not try to extinguish it with water. Always use a fire extinguisher or a pan cover. View a video on hurricane safety
assistant vice president in Amica’s
from the National Hurricane
• Keep sufficient clearance between your personal property and the hot water heater or furnace. claims executive department.
Center with this QR code.
“Make sure the items are com-
• Clean the lint from your dryer vent at least once every year. Replace any flexible nylon ducts with metal
pletely submerged in the water.”
ducts to reduce the risk of fire. Welch also recommends always
• Have wood-burning stoves, pellet stoves and chimney flues inspected at least once per year. reading the instructions on paint
cans and properly storing the left-
• Whenever hiring someone to work on your home, be sure they are properly licensed and fully insured. over paints and stains outside of
Certain repairs, like soldering, plumbing or stripping paint with heat, utilize an open flame. If not done care- the house and away from grills,
fully and properly, fires can result. Electrical work that is done improperly is another leading cause of fires. heaters, furnaces and any other
heat sources.
4 5
Child restraint Auto
guidelines revised Tips to pump up gas mileage
The National Highway Traffic Safety Administration
Additional recommendations for child seat 1. Don’t speed. Gas mileage decreases rapidly at speeds
(NHTSA) has revised its child restraint guidelines to be
categorized by age rather than by type of child seat
use from NHTSA include the following: above 60 miles per hour.
due to development of new child restraint technologies.
• Always read child seat manufacturers’ 2. Avoid “jackrabbit” starts and stops to improve gas mileage
Under the new guidelines, adopted in March, the
NHTSA advises parents and caregivers to keep children instructions and the vehicle owner’s manu- up to 5 percent.
in each restraint type, including rear-facing, forward- al for important information on height and 3. Turn off the engine to avoid unnecessary idling, which
facing and booster seats, for as long as possible weight limits and how to install the car seat wastes fuel and pollutes the air.
before moving them up to the next type of seat. using the seat belt or the LATCH system.
For instance, the safety agency recommends using 4. Use overdrive gears and cruise control when appropriate
the restraints in the rear-facing position as long as • Select a car seat based on your child’s to improve fuel economy when driving on a highway.
children fit within the height and weight limits of the age and size, and choose a seat that fits 5. Clean out your trunk: an extra 100 pounds in the trunk
car seat as established by the manufacturer. The rear-
your vehicle and use it every time. can reduce fuel economy by up to 2 percent.
facing position reduces stresses to the neck and spinal
cord and is particularly important for growing babies. • Children in rear-facing car seats should 6. Avoid loading items on the roof rack because it creates wind
The NHTSA said that its new guidelines are consistent
never ride in front of an active passenger resistance and can decrease fuel economy by 5 percent.
with the latest advice from the American Academy of
air bag. 7. Tuning your engine according to your owner’s manual
Pediatrics, which advises parents to keep kids in rear-
can increase gas mileage by an average of 4 percent.
facing restraints until two years of age or until they For more information, a helpful chart
reach the highest weight or height allowed by their car and videos, visit www.nhtsa.gov. 8. Keeping your tires properly inflated and aligned can increase
safety seat’s manufacturer. There is no need to hurry to gas mileage up to 3 percent.
transition a child to the next restraint type.
9. Change your oil. According to the U.S. Department of Energy,
you can improve your gas mileage by using the manufacturer’s
fight insurance fraud
recommended grade of motor oil.
Thank you
Help Amica for your help
10. Check your owner’s manual for the most effective octane
level for your car. For most cars, the recommended gasoline
If you have information concerning is regular octane. In most cases, using a higher octane gas
Amica continues to keep Beware of glass they all have one common fraud
insurance fraud, you can report it to than the manufacturer recommends offers no benefit.
a close watch on insurance fraud
activity across the country. And
repair scams indicator – an unsolicited “inspec-
tion” by an individual offering
Amica by calling 877-407-3344 or by Source: Federal Trade Commission (www.ftc.gov)
filling out an insurance fraud form on
we’re asking our customers to do In its latest report on claim auto glass repair services.
Amica.com, which you’ll find in our
the same. fraud, the National Insurance Crime DeCubellis advises calling
Claim Center. You can also report
Specifically, the insurance Bureau (NICB) reported that “ques- Amica first before allowing any-
fraud to the NICB by calling
industry is dealing with an upsurge tionable” auto glass claims had one to inspect or repair your
800-TEL-NICB (1-800-835-6422),
in auto glass claims. The increase jumped by an alarming 450 percent vehicles. The NICB also offers
texting keyword “fraud” to TIP411
represents a growing awareness from 2009 to 2010. The NICB this final warning in its public ser-
(847411) or by visiting the NICB
among consumers of the impor- defines claims as questionable vice announcements: If you didn’t
website at www.nicb.org
tance of getting these repairs based on further investigation and request it – reject it.
Keeping auto glass repair costs
made, but it also points to possible indicators of possible fraud.
under control benefits Amica – and
fraud activity. That’s why Amica The NICB reports that auto
you, our policyholders. We can quickly
reviews its glass claims regularly glass repair scams can be set up
help you assess your coverage and
for common fraud indicators, says almost anywhere – at car washes,
line up a certified glass repairperson
Lisa DeCubellis, a senior assistant mall parking lots or in your neigh-
through our Glass Partnership pro-
vice president in Amica’s claims borhood – so they’re sometimes
gram. We’re here to help any time of
executive department. difficult to track down. However,
day or night at 800-242-6422.
6 7
Corporate Office
One Hundred Amica Way, Lincoln, Rhode Island
Mail: PO Box 6008, Providence, RI 02940-6008 PRESORTED
Website: Amica.com STANDARD
U.S. POSTAGE
PAID
RALEIGH, NC
PERMIT # 660
11077-027NR 8506
13
Cert no. XXX-XXX-000
run
George Ross Photography
Newport
Saturday - Sunday
October 15-16, 2011
The Amica Marathon, which serves as a qualifier for the
Boston Marathon, follows a course along some of the most beautiful
streets in Newport, offering runners incredible views of the Atlantic
Ocean. It’s safe and secure, with hundreds of volunteers on hand
for race day.
The weekend-long event will feature a 5k race on October 15,
followed by a half marathon and a full marathon on October 16.
The Amica Marathon was named one of the top four marathons in
the nation in the 2010 January edition of Runner’s World magazine.
It’s also one of the fastest growing events in New England.
For race details and registration, visit AmicaMarathon.com.