Northwestern Mutual Grants $500,000 in College Scholarships to Childhood Cancer Survivors and Siblings Company awards scholarships to 50 students nationwide; applications now open for the 2023 program MILWAUKEE, Jan. 10, 2023 /PRNewswire/ — Northwestern Mutual today announced the recipients of its 2022 Childhood Cancer Survivor and Sibling Scholarship Program to ease the financial burden on … [Read more…]
Updated Mar 09, 2023
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Bottom Line
If you live in Erie’s 12-state service area, the company could be a great choice for robust coverage and affordable premiums. Erie’s digital tools are lacking compared to its competitors, though, so it may not be the best choice for tech-focused customers.
Affordable average premiums for both homeowners and car insurance policies compared to the national average
Strong customer satisfaction rankings from J.D. Power
Erie’s home insurance offers guaranteed replacement for dwelling coverage in most states
Erie auto and home insurance is only available in 12 states and Washington D.C.
No usage-based auto insurance program available
Only a few homeowners endorsements available
Answer a few questions to see personalized rates from top carriers
What’s new with Erie?
In August 2022, Erie Insurance established Erie Strategic Ventures to help fund entrepreneurs who create innovative products and services for customers and Erie’s independent agents. The company also recently announced the addition of optional extended water coverage for homeowners policies.
Founded in 1925, Erie Insurance Group started in Pennsylvania but has since expanded to 12 states and Washington D.C. The company offers coverage options that may be difficult to find among its competitors. Its standard auto insurance policies feature a diminishing deductible, first accident forgiveness for eligible policyholders and Erie Rate Lock, depending on the state. Additional coverage options include roadside assistance, auto glass repair and personal item coverage.
Erie car insurance earned a Bankrate Score of 3.8 out of 5. This Score reflects the company’s coverage options, financial strength, customer satisfaction and available discounts. Erie lost points due to its regional availability and limited digital tools (for example, the mobile app doesn’t have a claims filing option). Erie earned an A+ (Superior) AM Best financial strength rating and placed third in J.D. Power’s 2022 U.S. Auto Claims Satisfaction Study.
Erie’s coverage options and customer satisfaction scores make it one of the best car insurance companies in states where it writes policies. Comparing pros and cons of Erie auto insurance may help you decide if the company could be a good fit for your needs.
Roadside assistance and rental car reimbursement available
Erie Rate Lock may help keep rates stable over time
Auto policies include pet coverage
Available in just 12 states and the District of Columbia
No telematics or usage-based insurance program available
Mobile app does not enable policyholders to file a claim from their mobile devices
Erie is one of the cheapest car insurance companies based on our research of average premiums analyzed from Quadrant Information Services. Erie’s full coverage car insurance costs an average of $1,356 per year, while minimum coverage averages $486 per year.
Comparatively, the national average cost of car insurance for both coverage levels is higher, at $2,014 per year for full coverage and $622 per year for minimum coverage. Actual rates may vary based on car insurance rating factors, but the premium data below may be a useful comparison tool.
Bankrate bases the following average rates on data provided by Quadrant Information Services. This may not represent the price you will pay for car insurance. We do not include average rates for drivers with a history of driving under the influence (DUI) because some insurers may not write policies for motorists with a DUI conviction. If you have a DUI conviction, you may contact your insurance agent to find out how it could impact your car insurance premium.
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| Erie average monthly full coverage premium | Erie average annual full coverage premium | National average annual full coverage premium | |
|---|---|---|---|
| Clean driving history | $113 | $1,356 | $2,014 |
| Speeding ticket conviction | $123 | $1,476 | $2,427 |
| At-fault accident | $134 | $1,607 | $2,854 |
| Erie average monthly minimum coverage premium | Erie average annual minimum coverage premium | National average annual minimum coverage premium | |
|---|---|---|---|
| Clean driving history | $41 | $486 | $622 |
| Speeding ticket conviction | $44 | $527 | $748 |
| At-fault accident | $49 | $592 | $892 |
Young drivers typically pay some of the highest average car insurance rates. Teens and other young drivers may save by remaining on their parents’ auto insurance policy until they’ve established their own households. The following average rates are based on a motorist on their parents’ policy with a clean driving record, as well as drivers listed on their own policies.
Average cost of car insurance for drivers on their parent’s policy
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| Erie average monthly full coverage premium | Erie average annual full coverage premium | National average annual full coverage premium | |
|---|---|---|---|
| Age 16 | $240 | $2,876 | $4,392 |
| Age 17 | $225 | $2,700 | $4,102 |
| Age 18 | $219 | $2,630 | $3,837 |
| Age 19 | $209 | $2,512 | $3,345 |
| Age 20 | $205 | $2,456 | $3,149 |
| Erie average monthly minimum coverage premium | Erie average annual minimum coverage premium | National average annual minimum coverage premium | |
|---|---|---|---|
| Age 16 | $86 | $1,035 | $1,470 |
| Age 17 | $81 | $970 | $1,362 |
| Age 18 | $79 | $944 | $1,261 |
| Age 19 | $74 | $892 | $1,070 |
| Age 20 | $73 | $876 | $995 |
Average cost of car insurance for drivers on their own policy
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| Erie average monthly full coverage premium | Erie average annual full coverage premium | National average annual full coverage premium | |
|---|---|---|---|
| Age 18 | $249 | $2,988 | $6,110 |
| Age 25 | $136 | $1,630 | $2,473 |
| Age 30 | $122 | $1,461 | $2,125 |
| Age 40 | $113 | $1,356 | $2,014 |
| Age 60 | $107 | $1,279 | $1,824 |
| Erie average monthly minimum coverage premium | Erie average annual minimum coverage premium | National average annual minimum coverage premium | |
|---|---|---|---|
| Age 18 | $90 | $1,081 | $1,967 |
| Age 25 | $48 | $579 | $747 |
| Age 30 | $43 | $520 | $647 |
| Age 40 | $41 | $486 | $622 |
| Age 60 | $39 | $462 | $578 |
Your deductible may be reduced by $100 for each claim-free policy year, up to a $500 maximum. This discount is only available to policyholders who purchase the Auto Plus endorsement, and its availability may vary by state.
Erie may extend both bundling and multi-policy discounts to policyholders who carry more than one insurance policy with the company.
Vehicles equipped with safety and security devices, such as airbags, anti-lock brakes and anti-theft devices, may qualify for a discount.
Erie may extend a discount to policyholders who pay their annual car insurance premium in one lump sum, rather than monthly installments.
Erie extends a coverage option for non-owned autos including cars, moving vans and trailers that you use but do not own. This may be ideal for Erie drivers who do not own a vehicle but do drive on occasion.
Erie also sells boat, class car and motorcycle insurance, along with coverage for ATVs, golf carts and snowmobiles.
Erie home insurance receives high customer satisfaction scores from J.D. Power as well as 24/7 support for policyholders and a variety of coverage options. Erie offers guaranteed replacement cost coverage as part of its standard homeowners policies as well as additional living expenses.
Although Erie does not allow policyholders to file a claim through their mobile app, the company has more than 13,000 local agents and advertises a 90 percent customer retention rate year over year.
If you’re considering Erie for your homeowners insurance needs, it may be helpful to compare perks and drawbacks you may experience with the carrier. Here are a few of the key pros and cons Bankrate’s editorial team identified:
Guaranteed dwelling replacement cost coverage included in standard homeowners policies
Ranked 7th in J.D. Power’s 2022 U.S. Home Insurance Study
Standard home insurance policies include up to $500 in pet coverage
Only a few discounts available
Few optional coverages available
Not available in all states
| Dwelling coverage limit | Erie average annual premium | National average annual premium |
|---|---|---|
| $150,000 | $659 | $975 |
| $250,000 | $957 | $1,428 |
| $350,000 | $1,269 | $1,879 |
| $450,000 | $1,601 | $2,343 |
| $750,000 | $2,597 | $3,761 |
Home insurance discounts may help you save on your premium. Advertised home insurance discounts with Erie include:
You may earn a discount if your home is equipped with safety features like smoke alarms, security systems and an automatic sprinkler system.
Obtain an Erie homeowners insurance quote seven to 60 days before your current policy’s renewal date and you might earn a discount.
Customers who purchase a life insurance policy in addition to a car or homeowners insurance policy with Erie could earn a multi-policy discount.
Erie’s home insurance coverage comes with unique options not found with other carriers. Its home insurance pet coverage extends coverage to up to $500 for animals, including birds and fish.
Erie offers gift card and gift certificate reimbursement coverage for its ErieSecure Home policies. Customers may receive reimbursement for up to $250 per gift card purchased from businesses within 100 miles of their home, with a maximum of $500 per policy period.
Erie offers four life insurance products: term life, whole life, universal life and Erie’s exclusive ERIExpress Life. Erie’s term life insurance may be a good option for those who want a fixed coverage term and intend for the policy to pay for expenses that may be burdensome to loved ones, such as funeral costs and mortgage or credit card debt. Whole and universal life have no fixed terms, but universal life offers the most flexible death benefit. Erie’s unique ERIExpress Life policy may be ideal for people looking for a simplified application and fast approval.
The best life insurance company may be different for everyone, and each policy type serves a different purpose. The following pros and cons may help you decide if Erie life insurance is right for you.
Multi-policy discounts available for policyholders with a life and home or auto policy.
ERIExpress may be available without a medical exam.
Variety of policy types to choose from
Only one rider advertised to customize coverage.
Online quoting is not available
Only writes policies in 12 states and the District of Columbia
Life insurance endorsements, also called riders, may modify and extend your life insurance coverage. Erie’s life insurance coverage only offers one rider, a long-term care rider. Erie’s long-term care rider is only available for universal and whole life insurance policies. The long-term care rider provides an accelerated death benefit, which pays a portion of your policy’s death benefit to help pay medical expenses incurred following a covered accident or illness that requires long-term care.
Erie provides a life insurance calculator on its website to help customers decide which type of policy may best fit their needs. From there, customers can request to be paired with an independent Erie agent to get a quote.
Researching third-party ratings may help you decide which insurer best fits your needs. J.D. Power produces annual car insurance and home insurance studies that rate and rank insurers based on their customer satisfaction. These include the national U.S. Auto Claims Satisfaction Study and more regional U.S. Auto Insurance Study.
Agencies such as AM Best, Moody’s and Standard and Poor’s analyze the financial strength of insurers and produce ratings that may indicate the financial strength of individual companies. Erie has earned an A+ (Superior) AM Best financial strength rating.
Lastly, the National Association of Insurance Commissioners (NAIC) produces an annual complaint index report to track the prevalence of complaints lodged against insurance companies. The index employs a baseline of 1.0. Scores below 1.0 indicate that a provider had fewer complaints than expected for a company its size and vice versa.
In J.D. Power’s 2022 U.S. Auto Claims Satisfaction Study, Erie ranked third in the market, with an overall customer satisfaction score of 893 out of 1,000. More regionally, Erie came in first for overall customer satisfaction in the mid-Atlantic and North Central regions. Erie has an NAIC Complaint Index of 0.56 for its private passenger policies, indicating fewer customer complaints than expected for a company its size.
Erie ranked above average in J.D. Power’s 2022 U.S. Home Insurance Study, earning an overall customer satisfaction score of 827 out of 1,000. Erie’s homeowner policies have an impressive NAIC Complaint Index of 0.09, indicating very few complaints from policyholders.
Erie wasn’t rated in the annual life insurance study conducted by J.D. Power, potentially due to the company’s small size when compared to national life insurance carriers. However, the Erie Family Life company, which underwrites Erie’s life insurance products, has an NAIC Complaint Index of 0.46, which is less than half of the 1.00 baseline. Based on this data, Erie’s life insurance customers may be satisfied with the service they receive, since fewer-than-average complaints were filed.
Erie gives auto and home insurance policyholders two ways to file a claim. They can contact their Erie agent or call the 24/7 claims center at 800-367-3743. Life insurance customers can file a claim by contacting their Erie agent or by calling 800-458-0811.
Erie writes car and home insurance policies in the District of Columbia and the following states:
Erie sells life insurance in the District of Columbia and all of the aforementioned states, except New York.
Erie also offers business insurance including business automobile insurance. Business policies may protect a variety of businesses, including breweries, contractors, religious organizations, retailers and veterinarians.
Erie also offers a long list of other insurance and financial products for customers, including:
Through The Giving Network, Erie and its employees volunteer time and money with organizations focussed on community building, environmental responsibility and safety. These initiatives include partnering with United Way and American Red Cross, as well as supporting other culture and arts organizations, entrepreneurship, education and environmental responsibility. In November 2022, the provider’s The Giving Network awarded $50,000 in grants to 10 northwest Pennsylvania environmental organizations.
With the company’s ERIE Service Corps, employees are encouraged to use a full work-day volunteering in their local community. The Corps also has a matching donation program and established the H.O. Hirt Scholarship Fund and the F.W. Hirt Employee Emergency Fund to more immediately meet the financial needs of their community.
Erie offers a variety of auto, home and life insurance products, but it does not write policies in all states. If you live outside Erie’s service area or need an insurer that offers a more diverse portfolio of products, you might consider one of these carriers:
Allstate sells car and homeowners policies in the District of Columbia, Puerto Rico and all states except New Jersey. While Erie extends a multi-policy discount to policyholders, Allstate offers more ways to potentially reduce your premium. For instance, if you switch to Allstate, you might earn up to a 10 percent discount, plus an additional 10 percent savings each time you renew your policy. Allstate also offers a robust mobile app that allows policyholders to file claims virtually.
Learn more: Allstate insurance review
Unlike Erie, Travelers offers optional rideshare coverage and gap insurance. Travelers extends many potential home insurance discounts including potential discounts for purchasing a new home and owning a LEED-certified green home. However, Travelers ranks lower than Erie in the 2022 U.S. Home Insurance Study and does not sell life insurance products.
Learn more: Travelers Insurance review
AAA Life Insurance Company sells term life, universal life and whole life insurance policies. AAA’s traditional term life policies offer coverage up to $5 million and give you the option to add a child term endorsement, which provides up to $20,000 in coverage for each eligible child. AAA’s roadside assistance program is robust and enables you to request battery, flat tire, emergency fuel delivery, locksmith, mechanical first aid and towing services from the convenience of the AAA mobile app. Bear in mind that AAA coverages, discounts and optional coverages may vary by location.
Learn more: AAA insurance review
Erie has excellent financial strength ratings and earned high marks in J.D. Power’s customer and claims satisfaction studies. Additionally, the provider has NAIC Complaint Indexes that are far lower than baseline.
While Erie includes some perks in its standard auto insurance policies, like roadside assistance and rental car reimbursement, the carrier falls behind in the market by not offering a comprehensive mobile app or telematics program.
Erie’s standard homeowners policies feature guaranteed dwelling replacement cost coverage, which most insurers only offer as an endorsement, but they extend few optional coverages and discounts. Overall, Erie offers a solid portfolio of auto, home and life insurance products, but the provider only writes policies in a handful of states.
46
years of industry expertise
122
carriers reviewed
20.7K
ZIP codes examined
1.2M
quotes analyzed
Bankrate utilizes Quadrant Information Services to analyze 2023 rates for ZIP codes and carriers in all 50 states and Washington, D.C. Rates are weighted based on the population density in each geographic region. Quoted rates are based on 40-year-old male and female homeowners with a clean claim history, good credit and the following coverage limits:
To determine minimum coverage limits, Bankrate used minimum coverage that meets each state’s requirements. Our sample drivers own a 2021 Toyota Camry, commute five days a week and drive 12,000 miles annually.
Age: Rates were calculated by evaluating our base profile with the ages 16-60 (base: 40 years) applied. Depending on age, drivers may be a renter or homeowner. Age is not a contributing rating factor in Hawaii and Massachusetts.
The rates for drivers ages 16–20 added to their parent’s policy reflect the good student and driver’s training discounts applied. The rates for drivers aged 16-20 on their own policy do not include the good student and driver’s training discounts. Additionally, 25-year-old rates are based on the driver as a renter and 30+ on the driver as a homeowner.
Incidents: Rates were calculated by evaluating our base profile with the following incidents applied: clean record (base), single speeding ticket and single at-fault accident.
The homeowners also have a $1,000 deductible and a separate wind and hail deductible (if required).
These are sample rates and should be used for comparative purposes only. Your quotes will differ.
Our 2023 Bankrate Score considers variables our insurance editorial team determined impacts policyholders’ experiences with an insurance company. These rating factors include a robust assessment of each company’s product availability, financial strength ratings, online capabilities and customer and claims support accessibility. Each factor was added to a category, and these categories were weighted in a tiered approach to analyze how companies perform in key customer-impacting categories.
Like our previous Bankrate Scores, each category was assigned a metric to determine performance, and the weighted sum adds up to a company’s total Bankrate Score — out of 5 points. This year, our 2023 scoring model provides a more comprehensive view, indicating when companies excel across several key areas and better highlighting where they fall short.
Tier scores are unweighted to show the company’s true score in each category out of a possible five points.
Source: thesimpledollar.com
Northwestern Mutual invests nearly $3 million to help increase community access, inclusivity at prominent Milwaukee attractions Grants will support Milwaukee Public Museum, Discovery World, Betty Brinn Children’s Museum and more MILWAUKEE, May 23, 2023 /PRNewswire/ — Today, leading financial services company Northwestern Mutual announced nearly $3 million in grants to increase community access to Milwaukee’s leading … [Read more…]
There are dozens of different factors that could impact your life insurance plan. If you are suffering from Crohn’s Disease, you may think your medical condition will prevent you from ever getting life insurance.
This simply isn’t true.
There are plenty of affordable options to get you the life insurance protection that your family deserves. While Crohn’s Disease is a serious medical condition, just having this disease isn’t enough to disqualify you from getting approved for life insurance.
The cheapest life insurance rates and coverage for you depends on the severity of your disease and your personal situation. In this article, we will look at the life insurance underwriting guidelines for people with Crohn’s Disease so you know your insurance options.
As you begin your life insurance application, every carrier’s questionnaire will likely have the same types of questions, with slight variances. They’ll be something to the tune of:
Common medications include for Crohn’s Disease include: Sulfasalazine, Mesalamine, Azathioprine, Purinethol, Infliximab, and Adalimumab. Thought it does depend on other factors, none of these should be an immediate declination.
You’ll want to disclose any and all medications to your agent or underwriter as soon as you can, especially on the application itself. If an insurance underwriter doesn’t have a complete picture of your condition, your chances of a rated policy or a rejection go way up.
Your Crohn’s disease information isn’t going to be the only factor that the life insurance company looks at when deciding to insure you or not. Additionally, they are going to want a full overview of your health. This will include your heart rate, blood pressure, weight, and much more. After the application process, expect to provide blood and urine samples by way of an exam before any further underwriting can be completed.
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While Crohn’s Disease is a chronic condition, it is usually not fatal. This is why applicants with this disease can typically qualify for life insurance. It’s only when the disease is severe enough to cause frequent diarrhea, weight loss, and inflammation of the kidneys and livers that applicants run into high risk life insurance problems as these issues can lead to other serious health risks.
Your life insurance quote depends on your answers to the questions above as well as your insurer’s underwriting guidelines.
Just to be clear, your rating directly impacts your premiums, or the amount you pay. The better rating that you get, the less risk you are to insure, and the less that you’ll pay every month for your insurance protection.
To get approved for life insurance with Crohn’s Disease, you need to be up front and honest on your application.
Here are a couple case studies that highlight the benefits of a proper application.
Case Study: Male, 32 y/o, non-smoker, single flare-up. Short period of steroid use for symptoms. In remission for 4 years. No health issues.
This client was only able to receive Standard rates or worse with his previous applications. We suggested he submit a letter describing his healthy lifestyle, solid work history, and otherwise perfect medical records. We also told him to make sure he listed the steroid use on his application, something he neglected on past applications. With this more clear application, he was able to obtain a Preferred rating on his policy and get a rate discount. This is not typical but can definitely happen.
Case Study #2: Female, 42 y/o, non-smoker, ongoing symptoms of diarrhea and mild bleeding, hospitalized 4 years ago for symptoms.
With fairly severe symptoms, this applicant had trouble receiving anything better than a rated policy. However, her condition had improved significantly since her hospitalization because she started taking better care of her symptoms. We set her up with a company that specialized in applicants with Crohn’s Disease and better understood her condition. We also recommended she ask her doctor for an explanation of her history and improvement. This helped her upgrade to a more affordable Standard rating.
When you have Crohn’s Disease, the right application and insurance company make a big difference for your rating. Working with a broker that understands this condition will make sure you handle this process correctly.
Source: goodfinancialcents.com
Featured image credit: Howard Nourmand courtesy of Nourmand & Associates
A home is a symbol of status.
That sentence rings true whether you live in New York or Beijing, Vancouver or Madrid, Prague or Mumbai. But nowhere is the competition to stand out quite as fierce as Los Angeles, where million-dollar homes go to extreme lengths to appeal to potential buyers.
In what seems like an endless parade of upscale amenities, sprawling floorplans, and lavish interiors, the luxury segment of L.A.’s already competitive real estate market is constantly adapting to the changing needs (and growing expectations) of buyers in this price range.
But in a city that’s rife with new builds, there’s an undisputed appeal for homes with a bit of history — and a design that’s guaranteed to withstand the passage of time.
Out of the many architects that left their mark on the City of Angels, one name stands out: that of Paul Revere Williams, one of the most prolific and accomplished architects in recent history.
With his wide range of architectural styles — from traditional colonials to casual ranch-style to midcentury modern marvels — Williams left his mark on the city’s most glamorous and exclusive enclaves, including Beverly Hills, Brentwood, Bel Air and the Hollywood Hills.
He designed or revamped close to 3,000 buildings starting in the 1920s all the way through the 1970s, and rose to fame as the go-to architect of California celebs and business magnates alike.
Paul Williams counted Frank Sinatra, Lucille Ball and Desi Arnaz, William “Bojangles” Robinson and other entertainers among his high-powered clientele.
But beyond his flashy role as ‘The Architect of Hollywood”, Paul Williams built countless homes whose owners have not been immortalized on The Hollywood Walk of Fame. And these homes, with their timeless design and quality of build, continue to attract buyers in droves.
“Paul Williams’ homes are hot commodities in LA. His classic style and long-standing career designing for LA’s most storied legends make him one of city’s most celebrated architects. Owning a Williams home is owning a one-of-a-kind, classic home that has stood the test of time.”
Michael Nourmand – President, Nourmand & Associates
SEE ALSO: The Chemosphere House and 6 other striking John Lautner-designed homes
And he should know. Michael’s company, Nourmand & Associates, a leading real estate brokerage in the Los Angeles area, sold three Paul Williams-designed homes in 2021 alone — one more charming than the other.
“It’s an honor for myself and Nourmand agents to have represented both buyer and seller in the most recent Paul Williams listings.”
Most recently, Nourmand & Associates closed on the $11.5 million sale of Villa Andalusia (pictured above), a 1931-built Italianate Pallazo that’s touted as one of the finest properties in Los Feliz. Konstantine Valissarakos represented the buyer in the transaction.
The sale followed two other noteworthy transactions closed by Michael Nourmand himself; the first, a picture-perfect family home that traded for $8.75 million, and the other an exceptionally well-crafted Beverly Hills home that commanded a $5.198 million sale price. For the latter, Michael Nourmand held the listing alongside Adam Sires, with another Nourmand & Associates agent, Jill Epstein, representing the buyer.
And these million-dollar sales are by no means outliers.
In early 2021, a Brentwood manor Paul Williams built back in the 1930s for opera singer-actress Grace Moore and her husband, Spanish actor Valentín Parera (later occupied by legendary actor Tyrone Power) sold for $10.1 million to veteran CAA agent Josh Lieberman.
Prolific celebrity house flippers Ellen DeGeneres and Portia de Rossi have also just closed on a Paul Williams-designed home in Beverly Hills Post Office. According to the Los Angeles Times, the couple paid $8.5 million for the pristine mid-century home that’s tucked in the gated enclave of Hidden Valley Estates.
But beyond the visual and structural appeal of the homes the lauded architect left behind, there’s a much more complex legacy.
While he’s widely remembered as “the architect of Hollywood” and a top choice among the stars of his time, Williams’ repertoire is vast in both style and quantity, creating some 3,000 buildings before his death in 1980.
A 2012 NPR profile chronicling his work crowned him as “the trailblazing architect that helped shape L.A.” Beyond the residential projects he worked on, Williams didn’t shy away from tackling ambitious public and commercial buildings.
He helped design iconic structures like the Los Angeles County Courthouse, the historic Spanish-colonial style YMCA building in downtown LA, and even parts of Los Angeles International Airport.
He was part of the LAX planning and design team, working on some of the most well-known commercial and municipal projects, including the Golden State Mutual Life Insurance Building, Hillside Memorial Park, Westwood Medical Center, and the First AME Church.
Because of his varied portfolio, you might even recognize his handwriting: it’s prominently plastered on the façade of the Beverly Hills Hotel (which he didn’t build, but expanded and renovated throughout the years).
But Paul Williams’ legacy extends beyond the structures he helped build.
He was the first African American architect to become a member of the American Institute of Architects in 1923, and later, in 1957, he was inducted as the AIA’s first black fellow.
Despite the deep prejudice and racism he faced, Williams masterfully navigated the business and social circles of the day.
The LA Conservancy reports that he even learned to draw upside down in order to sketch for clients from across the table — for the benefit of any white clients who might have been uneasy sitting next to an African American.
Williams famously remarked upon the bitter irony of the fact that most of the homes he designed, and whose construction he oversaw, were on parcels whose deeds included segregation covenants barring Black people from purchasing them.
Later in his career, Williams chose to devote more of his time to projects aimed at providing affordable housing; he co-designed the first federally funded public housing projects of the post-war period (Langston Terrace in Washington, D.C.) and later the Pueblo del Rio project in southeast Los Angeles.
It wasn’t until 2017, 37 years after his death, that the American Institute of Architects awarded him his gold medal for the outstanding contributions he made in the world of architecture.
“Our profession desperately needs more architects like Paul Williams. His pioneering career has encouraged others to cross a chasm of historic biases. I can’t think of another architect whose work embodies the spirit of the Gold Medal better. His recognition demonstrates a significant shift in the equity for the profession and the institute.”
William J. Bates, FAIA, in his support of William’s nomination for the AIA Gold Medal, Architectural Digest via Wikipedia
Paying Tribute to MLK’s Legendary Role in the Fight for Housing Equality
The House that Zaha Hadid Built: The Story of the Only Residence Ever Designed by “The Queen of the Curve”
The Three (Tragic) Lives of Frank Lloyd Wright’s Taliesin House
Ernest Hemingway’s Iconic House in Key West Stands Tall and Mighty After 170 Hurricane Seasons
Source: fancypantshomes.com
Northwestern Mutual, Special Spaces Recognize 10-Year Anniversary of Company’s Childhood Cancer Program with 10 Dream Bedroom Makeovers HGTV star Mina Starsiak Hawk collaborates on latest bedroom reveal for a child in her hometown MILWAUKEE, Nov. 17, 2022 /PRNewswire/ — In recognition of its Childhood Cancer Program’s 10-year anniversary, Northwestern Mutual, through its Foundation, collaborated with Special … [Read more…]
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$400 emergency, and a third have saved nothing for retirement. Meanwhile, more than 60 percent of young adults under 34 say that thinking about their personal finances makes them anxious.
In many cases, these young adults feel anxious about their finances because they never learned about money growing up. Fewer than 20 states require high school students to take personal finance classes, even as studies show that young Americans want to learn about money and wish they had learned to be more financially savvy in school.
That’s where you come in. Giving your kids real-world lessons at home on how to manage their finances will go a long way toward helping them stockpile plenty of savings, stay out of debt and maintain healthy credit scores.
Read on to learn the critical money lessons you should teach your kids at every age, from their toddler years to their teen years.
Table of Contents
Smoking. Drugs. Bullying. All of these are topics that parents say they would rather discuss with their kids than the family’s finances.
Maybe you have struggled with using money responsibly in the past. Maybe you don’t want to tell your kids how much you make or reveal that you’re in debt. But it’s important that you become comfortable with talking to your kids about money so that they become comfortable using it.
Pop quiz! If you take out a loan for $1,000 with a 20 percent interest rate, how much will you owe per year in interest?
The answer is $200. Did you know that? If not, you’re like almost two-thirds of Americans who have trouble calculating interest rates.
Take some time to brush up on basic financial concepts. Make sure you understand these topics inside and out so that you can answer your kids’ questions and provide the most well-rounded lessons possible.
Every good lesson in using money responsibly starts with reducing or eliminating debt. More than family’s finances and get on the same page. This way, you can better understand your family’s financial goals and communicate them with your kids.
It’s also helpful to write down your family’s financial goals and display them in a prominent place in the home. For example, if your family wants to go on vacation later in the year, you could post that goal on the refrigerator to remind everyone why the family is saving.
Another important component of putting your kids on the best financial track possible is thinking about what would happen if you could no longer take care of them.
Even though most Americans have life insurance, a good chunk do not have enough coverage. About half of Americans have $100,000 or less in coverage. It’s recommended that you have coverage equal to at least 10 times your salary. With kids, that multiplier should typically be even higher.
Also, make sure you have a will to ensure that your assets are properly divided and that your kids are cared for should something happen to you.
At this age, your kids likely just learned how to throw a ball overhand or to scribble freely on paper. They have no idea what money is or how it works — but that doesn’t mean you can’t introduce them to some basic money concepts.
Allow them to play with coins. Play store to introduce them to the concept of a marketplace. Even allow them to watch you pay bills. This helps them understand that money has a value and that items vary in cost.
Show your toddlers different types of coins. Allow them to trace the outlines of the coins onto a piece of paper. As you color in the shapes that you traced, help them to match the coins to the drawings and repeat the coins’ names.
Coins are more fun for toddlers to play with than paper money, but you can also draw dollar bills and color those in to include in your toddlers’ homemade “wallets.”
Using the pretend money that you created from the coin identification game, gather a bunch of household items and allow your toddler to exchange the money for the items.
Kids already love playing store for the fun of it, but take this opportunity to show them that different items require different types of pretend money. For a twist on the traditional game, decorate price tags and attach them to the items.
Toddlers are always watching you, so why not use that to help them learn about money? When you’re paying bills with your checkbook and calculator, let them know that you’re buying things just like they do when they play store.
For even more fun for your toddlers, give them their own “checkbook” and calculator to play with while they watch you.
By kindergarten and pre-kindergarten, your kids have already seen you give something green to the pizza delivery driver or put down a piece of plastic on the table at the end of your dinner at a restaurant.
It’s your job to answer their questions and explain to them that they need money to buy things. As they reach school age, you can even allow them to manage a little bit of money on their own by way of allowances.
It’s up to you whether the allowance should be earned or given, but the important thing here is to teach your kids to save and to help them understand that they may need to wait before they can buy something.
Gather three clear jars and ask your kids to decorate labels with “saving,” “spending,” and “sharing” for the jars. Piggy banks are great, but you can’t see what you’re putting in them, and you want your kids to be able to see the progress they’re making!
Explain that everything costs money. The money in the “spending” jar can be used today to buy anything your kids want within reason. If they want something that is more expensive, they will have to wait until their “saving” jar has enough money in it.
You can also encourage your children to put a couple of coins or a dollar bill or two in the “sharing” jar, and help them think of charities for the money.
Let’s say your kids want a $10 stuffed animal. Help them count out $10 from their jars. Have them take the $10 to the store and hand the coins and bills to the cashier. Allow them to see how much money is left in the jars, and explain to them that if they spend money this time, they’ll have to wait a little bit before they can buy something again.
If they don’t have enough money in the jars, help them understand how much they have and how long it will take to save enough for the stuffed animal given their current savings rate.
What kids don’t like to play restaurant? At the end of the game, remind them that they can’t leave the table without “paying” the bill.
This is also a good opportunity to introduce your kids to the relative value of coins and bills. Show them that one-dollar bill equals ten dimes or four quarters.
While teaching kids about money is critical at every age, this age group is especially important. Researchers believe that kids’ money habits are formed by the time they turn seven.
Give them a firm foundation in protecting their money in savings accounts (and earning interest), shopping around for the best deals and understanding the different ways that money can be spent or shared.
Take your kids with you to the bank. Explain to them that putting your money in a bank is better than stockpiling money at home because a bank protects your money and pays you interest.
Explain that the bank pays you interest as a reward for keeping your money in that bank, instead of at another bank. Also, explain that interest is a cool concept because it keeps growing the longer you keep your money in the bank.
You can illustrate this concept by asking your kids to set aside $1 from their allowance. Tell them you’ll act like the bank and pay them 10 percent, or a dime, in interest for this $1. They’ll now have $1.10. Explain to your kids that you’ll pay interest on this $1.10 in a month and that they’ll receive 11 cents instead of just a dime. Allow them to see how interest keeps adding up!
It’s surprising how much your kids can learn about money at the grocery store! If you use coupons, ask your children to help you clip them and identify the corresponding products at the store. Make sure they watch as the cashier scans the coupons and shaves dollars off your bill.
Additionally, look closely at the unit prices of products. Ask your kids to help you determine which products offer a better deal (a lower price per ounce, for example). This is also a good opportunity for your kids to practice their basic math skills.
It’s important for kids to know that money is not just spent on physical goods, like food and toys. Explain to them that money is also spent on services, like labor. This is a good time for you to tell them what you do to make money and encourage them to start thinking about what they might want to do when they grow up.
Since many of your kids’ money habits will be formed during this time, make sure to explain the importance of giving back to their communities and to those in need. You’ll want to tell your kids that they are part of a larger community and that everyone in the community is responsible for those around them. This includes a responsibility to give your time and some of your money to community causes.
Help them connect with a cause they might care about, like a local animal shelter that rescues stray cats or an environmental group that plants trees in the local park and explain that they can give some of their money to help others. Helping them to understand that not everyone has the money they need will help them appreciate their money and grow to be more giving adults.
Your kids have already opened savings accounts and have seen how money seems to show up out of nowhere. It’s time to explain how compound interest works and explore other places to store your money. They also can begin to learn more about the worth of objects around them.
Finally! You get to share the wonders of compound interest with your kids. Play around with a couple of classic examples that show that savings can really add up, but only if you start saving early.
For example, if they save $100 every year starting at 14, they’ll have $23,000 when they’re 65, but only $7,000 if they start saving when they’re 35.
Encourage them to play with an online compound interest calculator that allows them to input the specifics of their bank accounts and play around with different time periods and interest rates.
Show your kids that you can store your money in other ways that could make you more money than a traditional savings account. However, be careful to warn about the risks of losing more as well.
Have your kids pick out a couple stocks that relate to their favorite hobbies. Track how the stocks perform every week for a given amount of time and award a prize (maybe a pizza dinner or a movie night) to the winner.
Your kids should have a pretty good grasp on how to value different objects already, but allow them to develop these skills even further with a yard sale (and clean out your basement in the meantime).
Put them in charge of planning the yard sale, finding things to sell, setting the prices, and interacting with customers.
By this point, you’ve helped your kids learn about money for more than a decade. Now it’s time for them to start working and thinking about college before they eventually go off on their own.
Be prepared to answer many questions during this time, as there are many essential financial You’ll need to cover everything from paychecks to checking accounts, credit cards, and social security.
As your kids earn their first paychecks, they might not like what they see. The total might not match the amount they had banked on earning. Now’s a good time to explain taxes.
Explain the different types of taxes to them and show them where the taxes go, whether it’s to Social Security or Medicare or elsewhere. Also emphasize the importance of saving and encourage them to open an individual retirement account.
Perhaps your daughter or son will want to make some extra cash. Encourage them to be resourceful and help them look for opportunities like babysitting or selling old clothes.
Before your kids head off to college and eventually open their own checking accounts, they might want some practice at home. Consider opening a joint account with your kids to give them access to a bit of money. You can monitor their spending using online apps and ensure that they’re making healthy financial decisions.
Their names can also be on the checks associated with the account. Take this opportunity to teach them about writing checks and balancing checkbooks.
Kids can’t enter into legally binding contracts, such as credit card agreements until they are 18. One way around this is to add your kids as authorized cardholders under certain circumstances.
Whether or not you give your kids access to your credit cards at this point, you must teach them to use credit cards responsibly. Explain that they should use a credit card only if they can pay off the monthly payment in full. Talk about the dangers of debt and how missed payments decrease credit scores and make it harder to secure loans.
Finally, stress the importance of exercising caution and avoiding suspicious websites when entering your credit card number online.
It’s likely your kids will be asked repeatedly for the last four digits of their social security numbers. Make sure they memorize all of the digits before they go off to college so that they’re not caught off guard.
Every parent wants their kids to be financially healthy — to have plenty of savings, know how to budget, and avoid the troubles that come with bad credit. But your kids won’t know how to be savvy with money on their own. Take the time to teach them good tips at every age and set them up for success.
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Source: mint.intuit.com
While everyone understands the importance of life insurance, very few people follow through and actually purchase a plan. Nobody wants to think about his or her own death, but not planning for it is an awful mistake.
It can be daunting to obtain life insurance after you have had a major illness.
High deductibles and even higher premiums can make getting decent insurance seems almost impossible.
However, breast cancer survivors are becoming more and more insurable thanks to medical advancements and a stronger prognosis and survival rate.
It is not likely that you will be able to obtain an insurance policy if you are currently being treated for cancer or undergoing chemotherapy or radiation, or if you have been diagnosed with advanced stage breast cancer.
However, if you have been diagnosed with stage one breast cancer, the outlook on obtaining life insurance with cancer is much better.
For more advanced cancer, say, stage 2 or above, some life insurance companies may require that you have been in remission for at least 3 years. At the very minimum, they may require that three years have passed since your last treatment without signs of advancement.
However, new research has shown that many breast cancer survivors can have a mortality rate that very closely matches the general population. In other words, being a breast cancer survivor does not mean that your life expectancy is shorter than someone who has not been diagnosed and treated for breast cancer, provided you seek proper treatment.
This does not mean that if you have been diagnosed with breast cancer you have to wait years to get the cheap term life insurance or should expect massive premium increases, though. More and more often, early detection and treatment are the keys to survival, and since awareness has increased, screenings are more common, and treatments have improved, it is completely possible to have a very good prognosis as a breast cancer survivor, allowing you to obtain life insurance, or even switch companies if your companies rates begin to skyrocket.
Don’t be discouraged if you get turned down initially. Some companies shy away from insuring “high risk” clients, including those with medical diagnosis such as cancer, but also those with high-risk jobs (offshore workers) or poor family history (generations of heart disease).
This does not mean, though, that you as a breast cancer survivor are necessarily high risk to insure, and many companies are starting to recognize that.
Some companies are better for high-risk applicants. These high-risk companies have tons of experiencing working with breast cancer applicants and can give you a quality and affordable life insurance policy.
We had a female client that was looking for burial expense and to pay off her mortgage. She was initially diagnosed with Stage I breast cancer in 1986 and then had a mastectomy. In 1993 she had radiation and oral chemo therapy for 5 years. According to her doctor, she’s currently Stage 0. She gets regular mammograms and even more importantly has no family history of breast cancer.
Note: For a female applying for life insurance that doesn’t have breast cancer, she can still be rated if her mother was diagnosed with it. Even more so if it was a young age.
In this women’s case, our underwriter felt comfortable rating her at Standard (possibly Standard Plus) since the occurrence was well over 10 years ago.
Many of the top term life insurance companies are now changing their underwriting guidelines so that even clients with a history of breast cancer diagnosis and treatment can obtain a more favorable rating. A more favorable rating means less of a wait to obtain insurance, as well as lowered premiums and deductibles.
Since the prognosis for breast cancer survivors has improved so greatly, and, as mentioned earlier, the mortality rate is comparable between breast cancer survivors and the general population, life insurance is completely attainable if you find a company that understands this prognosis.
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1. Date of diagnosis, date of last treatment.
2. Exact name of the type of breast cancer that has been diagnosed.
3. What is the stage of the cancer?
4. Was the cancer graded? If so, what grade was assigned?
5. How has the cancer been treated? Please check all that apply.
6. Does the proposed insured take any medications at this time, yes or no? If yes, please name the medication, dates used, quantity taken, and frequency taken.
7. Has there been any evidence of recurrence? If yes, please share details.
8. Has there ever been any kind of other cancer diagnosed for the proposed insured?
9. Does proposed insured have any other medical conditions?
Each of these questions will impact your chances of getting life insurance for high risk people and how much you will pay for your coverage.
There are a lot of different factors that the insurance agent will review when you’re applying for life insurance. Your breast cancer diagnosis is a major part of it, but it’s not the only factor that they are going to look at. Just like with every other applicant, they are going to want an overall picture of your health. This is why they require a medical exam.
During the exam, they want to know your blood pressure, weight, and heart rate. Additionally, they will take a blood sample and urine sample. All of these are going to be used to determine how good or poor your health is. The better the results form the medical exam, the higher your chances of getting cheaper coverage.
There are several different things that you can do to improve your chances of getting life insurance and getting a more affordable life insurance policy. While there are some things that you can’t change, like your family history or if you are 50 and looking for life insurance coverage, there are some aspects that you can improve, which increases your chances of getting lower insurance rates.
If you want cheaper coverage, you have to do some shopping around. Each company has different views on applicants with a history of breast cancer. Some companies have much better standards, and you need to shop with one of those companies.
There are 6,000 carriers. Most are going to automatically decline you because of breast cancer. You could spend several days sifting through the companies. Or you can work with an independent agent to take that work off your plate.
Source: goodfinancialcents.com
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In order to get life insurance from any long term illness it is necessary to work with doctors and try to get any condition under control. The better that your health is and the better that you follow your doctor’s orders, the higher chance you have of getting a life insurance policy at an affordable rate.
This includes listening carefully to doctor’s instructions and making the necessary lifestyle changes to gain control of the problem.
If insurers see that a condition is being properly managed then there is a chance that policy seekers can attain a lower premium. Patients may want to wait a while and make sure they are in good health before applying for a low cost term life insurance policy.
Always have the doctor write down a patient’s progress as time goes by. This will be a good record for life insurance companies.
Having life insurance is very important, especially for those with families. Those who are head of the household should not have to worry about leaving behind massive debt for their loved ones should the worst happen.
Every person with a family should have life insurance to protect loved ones from the added burden of dealing with financial stress. It is already hard dealing with the loss of a loved one, but dealing with financial stress should not be something that anyone has to go through during times of mourning.
The first thing that you need to add up is your debts. Those debts are going straight to your family when you die. This can overwhelm your family and leave them under a mountain of debt. Add up your mortgage payment, car bills, and any other unpaid expenses that your family members would have to pay off. You not providing them the insurance protection that they need.
Another factor that you should think about is your annual salary. They will inherit your debt, but lose your salary. Get enough coverage to replace the paychecks.
Life insurance may include higher premiums for those who have illnesses, especially when dealing with Cardiomyopathy. It is always best to work with insurance companies and let them know about any condition. As long as underwriters see that patients are doing their best to manage any disease then chances are that they will receive a favorable outcome in their policies.
There are various reasons why life insurance companies will increase rates for policy holders with illnesses; one of them includes viewing the sick as a potential liability. Let’s face it. If you have a high risk condition, then the insurance company will rate you as such. Does that always mean you should pay the highest rate? Not necessarily. That’s one perk in working with an independent life insurance agent that has the ability to work with high risk companies.
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In order to get the right policy, it is best to shop around and compare rates. Get an upfront quote and ask directly how much a policy will cost for someone with Cardiomyopathy. Doing some research will increase the chances of getting a life insurance policy. There are even some insurance companies that will work with those who are suffering from long term illness. Others will not help with a standard policy but will approve those with long term illness on a no exam term life policy.
Keep options open and keep looking until a policy fits within budget range. Life insurance should not be an overly expensive pursuit, even for those who have long term illness. If a higher rate is quoted then try looking elsewhere. Life insurance seekers are consumers, and they do not have to settle for a higher rate if it something they are not comfortable with.
Not every insurance carrier is the same. Some specialize in working with clients with serious health problems, event those with cardiomyopathy. Finding the right company could mean the difference between getting an affordable plan or getting declined for coverage.
There are options for those dealing with Cardiomyopathy. As long as insurance companies see that a person’s health is being managed properly then they have a chance of getting a lower premium policy. Always consult with a doctor when dealing with any illness and take the necessary measures to become healthier.
As mentioned above, it’s important to be upfront with your independent life insurance agent when you have a health condition such as cardiomyopathy. Before we even apply, we want to make sure we get all the appropriate info to make sure we get you with the right company. The below is a questionnaire that the underwriters will want before they will insure you. Make sure you have all the info before you apply.
a) Dilated cardiomyopathy
b) Myocarditis
c) Myocardial fibrosis
d) Myocardial degeneration
e) Congestive cardiomyopathy
f) Hypertrophic cardiomyopathy
g) Idiopathic hypertrophic sub-aortic stenosis
h) Alcoholic cardiomyopathy
i) Peripartum cardiomyopathy
j) Restrictive cardiomyopathy
a) Resting EKG
b) Thallium stress EKG
c) Holter monitor
d) Stress EKG
e) Echocardiogram
f) Chest x-ray
All of these questions (and your answers) are going to change the premiums you get and how the company looks at your application. After you’ve answered these questions, the insurance carrier can get a completed picture of your health and they can decide how much to charge you.
Even if you have a pre-existing condition, there are plenty of life insurance options for you. Nobody should ever have to go without the coverage that they need.
Source: goodfinancialcents.com