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April 2025 Newsletter

  • Writer: Carmen Escobar
    Carmen Escobar
  • 3 days ago
  • 2 min read



"What are some ways we can talk to

our clients about taxes and

insurance?"



🧾 Tax Season Considerations


With Tax Day falling on April 15, it's a pertinent time for:


  • Reviewing Tax Implications

    Assess the tax considerations of various insurance products, such as the deductibility of premiums and the tax treatment of benefits.​


  • Client Consultations

    Engage with clients to discuss how their insurance policies impact their overall tax situation and financial planning.




Two awesome podcasts so far this

month!


#123 - Stop Sucking on Video:


Authentic Marketing for Financial Advisors with Katie Braden, CFPÂŽ


Struggling to connect with clients through video?


Forget fancy production. Katie once

shot a quick 42-second iPhone video

in the dark and wind, and it got over 167,000 views. Why? Because people connect with real, not perfect.


Apple Podcasts:


Spotify:



#122 - Helping Clients Navigate

Divorce with Jamie M. Lima, MBA,

CFPÂŽ, CDFAÂŽ


Jamie returns to the Only Fee Only podcast to share how his firm has grown. Jamie combines financial planning with divorce-focused advice

to help clients navigate complex situations.


His advice for new advisors: “If it’s not a ‘hell yes,’ it’s a no.” Follow Jamie on LinkedIn to learn how specialized planning can make a big difference.


Apple Podcasts:


Spotify:




Umbrella Insurance 101 ☂️



What do you need to obtain umbrella?


​To obtain a personal umbrella insurance policy, insurers typically require you to maintain specific minimum liability limits on your underlying auto and

homeowners insurance policies. These requirements ensure that your primary

policies cover initial claims, with the umbrella policy providing additional coverage beyond those limits.​


🚗 Auto Insurance Requirements


Most insurers mandate the following minimum liability limits on your auto insurance:​


  • Split Limits: $250,000 per person / $500,000 per accident for bodily injury, and $100,000 for property damage (expressed as 250/500/100).​


  • Combined Single Limit (CSL): Alternatively, a $500,000 CSL, which provides a single limit for all bodily injury and property damage claims per accident.​


🏠 Homeowners Insurance Requirements


For homeowners insurance, a common requirement is a minimum of $300,000 in personal liability coverage. This ensures adequate protection against claims arising from incidents on your property.​


⛵ Additional Considerations


If you own other assets such as boats, recreational vehicles, or rental

properties, insurers may impose additional underlying liability requirements. For example, boats under 26 feet and 50 horsepower may require $100,000

in liability coverage, while larger or more powerful boats may require $300,000.​


💡 Tip


Maintaining higher underlying liability limits than the minimum required can sometimes result in lower premiums for your umbrella policy. This is because the umbrella coverage is less likely to be utilized, reducing the insurer's risk.​






Our most visited website page:




The term life insurance quotes!










Have an insurance question?



Let us know how we can help.







Thank you for your continued

support!

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