Useful Insurance and Financial news for our clients and friends! Henthorn Agency Hotline Insurance Financial Planning Consumer Loans Volume 5 Issue 16 Spring 2008 Know The Signs Of A Tornado Vickie White, Operations Manager, email@example.com Weather forecasting followed by either dead Night - Persistent low- science is not perfect calm or a fast, intense ering from the cloud base, and some tornadoes do wind shift. Many torna- illuminated or silhouetted occur without a tornado does are wrapped in by lightning -- especially warning. There is no heavy precipitation and if it is on the ground or substitute for staying can't be seen. there is a blue-green- alert to the sky. Besides Day or night - Loud, white power flash under- an obviously visible tor- continuous roar or rum- neath. JUST ONE REASON nado, here are some ble, which doesn't fade in Photos provided by NOAA TO MAKE SURE things to look and listen a few seconds like thun- YOUR PROPERTY IS for: der. COVERED! Night - Small, bright, Strong, persistent blue-green to white FOR MORE THAN rotation in the cloud flashes at ground level base. near a thunderstorm (as 50 YEARS Whirling dust or de- opposed to silvery light- WE HAVE PRO- ning up in the clouds). bris on the ground un- VIDED These mean power lines der a cloud based tor- PROFESSIONAL nado won’t always have are being snapped by very AND a funnel! strong winds, maybe a FRIENDLY Hail or heavy rain tornado. SERVICE Inside this issue: We would love to have your email address for future contact. WAYS IDENTITY 2 Call us, or email us today at: www.henthornagency.com THEFT HAPPENS We will not share this information with other parties. LIFE 2 INSURANCE CREDIT CARD 2 Mortgage Workouts Now Tax Free DEBT Brad Henthorn, Personal Financial Planner, firstname.lastname@example.org AT THE SCENE OF 3 Homeowners whose return, according to the ers may exclude debt that AN ACCIDENT mortgage debt was IRS. was forgiven on the prin- COMMERCIAL 3 partly or entirely for- Normally, debt forgive- cipal residence if the bal- AUTO given during 2007 may ness results in taxable ance of their loan was be able to claim special income. less than $2 million. The GLOBAL POSITION- 3 tax relief by filling out But under the Mort- limit is 1 million for a ING SYSTEMS newly revised Form 982 gage Forgiveness Debt spouse filing a separate WE ARE THE 4 and attaching it to their Relief Act of 2007 en- return. Details are on HENTHORN AGENCY 2007 federal income tax acted Dec 20th, taxpay- Form 982 or IRS website. PAGE 2 PAGE 2 HENTHORN AGENCY HOTLINE VOLUME 5, ISSUE 16 Common Ways Identity Theft Happens Elaine Tobin, Personal Risk Manager, email@example.com Skilled identity thieves use a vari- divert your billing statements to ber. Don’t carry your card in your ety of methods to steal your per- another location by completing a wallet or write it on a check. Give sonal information, including: “change of address” form. it out only when absolutely neces- Dumpster Diving: They rummage Old Fashioned Stealing: They sary. through trash looking for bills and steal wallets and purses, mail, Don’t give out personal informa- other paper with your personal including bank and credit card tion on the phone, through the information on it. statements, pre-approved credit mail, or over the internet unless Skimming: They steal credit/debit card offers, and new checks or tax you know who you are dealing card numbers by using a special information. They steal personnel with. storage device when processing records from employers, or bribe Never click on links sent from un- your card. employees who have access. solicited emails. Instead type in a Phishing: They pretend to be fi- You can do some things to help web address you know. nancial institutions or companies protect yourself: Don’t use obvious passwords. and send spam or pop-up mes- Shred financial documents and Keep your information in a secure sages to get you to reveal your paperwork with personal informa- place. Carry Identity Theft Insur- personal information. tion. ance. Changing Your Address: They Protect your Social Security Num- Things You Should Know About Life Insurance Brad Henthorn, Personal Financial Planner, bhenthorn@henthornagency,com Life insurance proceeds are gener- the policy. Any unpaid interest is ally income tax-free. added to the loan. Any unpaid loan, including interest, will be The proceeds of many permanent deducted from the death benefit. life insurance policies can be used to ease the financial burden of In addition to naming a specific catastrophic illness, terminal ill- beneficiary to receive the proceeds ness or long-term care. of your life insurance policy (permanent or term), you should As the holder of a permanent life name a secondary or “contingent” insurance policy, you may borrow beneficiary just in case you outlive up to the cash value at an interest the first beneficiary. rate (fixed or adjustable) stated in Credit Card Debt Debbie Henthorn, Para-Planner, firstname.lastname@example.org How can you tell if your debt load You're frequently charged fees for You devote more than 20% of your is nearing a critical level? Look for late payments or going over your take-home pay to making pay- these symptoms: credit limit. ments on credit cards and loans other than your mortgage. You're unable to make the mini- You use plastic out of necessity mum payments on your credit rather than convenience. Control your debt before it con- cards. trols you. You forgo contributions to savings You borrow from one card to pay and retirement plans because of Call Brad, our financial planner, another. your debt. to help assess your needs. PAGE 3 PAGE 3 HENTHOR N AGENCY HOTLINE VOLUME 5, ISSUE 16 At the Scene of an Accident Jean Collins, Personal Risk Manager, email@example.com Knowing what to do when involved age such as setting up flares. passengers. in an accident can save lives and • Ask the officer where to obtain • License Plate Numbers. expedite the claims process. a copy of the police report. You • The make, model and year of • Stop your car-find out if anyone will need it when you submit each vehicle. is injured. your claim to your insurance • Drivers License Numbers. • Call the police or highway pa- company. • Insurance Company Informa- trol. • If necessary have the car towed tion. • Tell them how many people are to a repair shop. The adjuster • Names, addresses and phone hurt and the types of injuries, might want to inspect your car numbers of witnesses. and the police will notify the before repairs start. • Names and Badge numbers of nearest medical unit. Make notes of the following infor- police officers. • Try to protect the accident scene mation: • If the vehicle is unattended try and take reasonable steps to pro- • Names, addresses and phone to find the owner, or leave your tect your car from further dam- numbers of all drivers and contact information. Commercial Auto Insurance: Who needs it? Beth Bradford, Commercial Risk Manager, firstname.lastname@example.org Commercial Vehicle Insurance poli- Employed or self-employed indi- There are differences between cies exist to protect the business viduals who use their own cars personal and commercial auto in- use of cars, vans, trucks, and trail- predominately for business surance coverage. One example ers. Most policies are customized to should carry commercial auto is, if you insure a vehicle person- fit the unique needs of each busi- insurance. There are additional ally, but use it commercially, cov- ness. If your business owns or coverage's available, such as non- erage may not extend to a trailer leases vehicles, regardless of how owned, if employees use their being towed. many, you need Commercial Auto vehicles while working for you. Insurance. Call us to check your coverage. Global Positioning Systems (GPS) Linda Wire, Personal Risk Manager, email@example.com Global Positioning Systems (GPS) serial number in the event the unit would fall under a homeowner’s may take you wherever you want is stolen. policy or renter’s policy and a de- to go, but all too often they are ductible would apply separate taken—right into the hands of “A lot of owners leave the wind- from the auto deductible. thieves. The more popular these shield mounts of these portable systems become, the higher the devices behind when they detach Prevention is always a better op- prevalence of theft. To prevent the units. This is a dead giveaway tion. thefts, the National Insurance as thieves look on the windshield Crime Bureau (NICB) recom- for the circle on the glass. That mends: leads vandals to think the GPS is somewhere in the car. Not only is Removing portable navigation there the loss of the unit, but often systems from the car, including damage is done to the vehicle. windshield mounts. The GPS system is considered per- Registering your unit with the sonal property and not covered un- manufacturer so they have the der an auto policy. Coverage 411 Main Street 1353 North US 31 Beech Grove, IN 46107 Franklin, IN 46131 (317) 787-9489 (317) 346-0004 Helping you put your Financial House in order! Visit us on the Internet @ www.HenthornAgency.com Members of: • PIA Professional Insurance Agent’s The Henthorn Agency: Association • Small enough to know who you are, and • NATP National Association of Tax • Large enough to handle all of your Insurance, Practitioners Financial Planning, and Loan needs! • FPA Financial Planning Association WE ARE THE HENTHORN AGENCY www.henthornagency.com Established in 1956, our company has before the IRS. Brad also handles Patricia Dennison, with over 50 years grown to a full-service Insurance and health and life insurance matters. of experience and Phyllis Hussung, Financial Planning firm. Henthorn with 49, are the agency’s Senior Ac- Agency, Inc. is comprised of proven Debbie Henthorn, Para-Planner, as- counts Coordinators. They handle professionals who are caring and con- sists with various financial planning most everything else… from billing scientious people. We have a commit- activities. transactions to providing insurance ment to maintain a high standard of certifications. excellence in all that we do and to es- Vickie White has 23 years of experi- tablish a firm relationship of mutual ence and is the agency’s Operations At Henthorn Agency, our customers trust and service with each and every Manager as well as one of our licensed will always be our top priority. We one of our clients. insurance brokers. She is available to appreciate your business and your re- Our expertise is based on well- handle all commercial and personal ferrals. trained, experienced professionals who insurance matters. are seasoned in their areas of specialty. Kris Henthorn, CPIA, with 21 years We have three dedicated Personal Risk experience, Beth Bradford, with 8 Managers. Jean Collins, with 34 years, years, and Bill Gillespie, CPCU, with Elaine Tobin, with 20 years, and 35 years are our Commercial Risk Linda Wire, with 29 years experience The annual disclosure statement Managers and can help you with all of in the Insurance Industry. All will be your business insurance needs. glad to help you. for financial planning clients Brad Henthorn, CFP™, EA, with 20 Pamela Henthorn, has 3 years experi- (Form ADV) is available at our years experience, is a Personal Finan- ence, is also a Personal Risk Manager cial Planner and is enrolled to practice and the agency’s bookkeeper. office.