If you are a basketball player, Kobe Bryant advises ankle insurance!

This is a jokey video to promote a brand of sneakers, but the idea of insuring specific body parts is not totally farfetched … celebrities have been known to insure body parts … Jimmy Durante had a $50,000 policy on his distinctive nose and Betty Grable had a million dollar policy on her famous legs. Larry Getlen has an amusing article on the topic at Bankrate: Celebrity body parts: Million-dollar thighs and smiles

Essential new pre-Halloween coverage: zombie insurance

When we posted our list of tips to help you prepare for a healthy and safe Halloween earlier in the week, we overlooked one important and growing threat: zombies. As we approach a weekend of goblins and ghouls, are you sure you’re adequately covered against the growing threat that the undead pose? It is suspected that each year, untold millions are lost in personal property damages – but generally, traditional insurance companies won’t recognize claims for zombie-inflicted damage.

Never fear, as your trusted agents, we’re looking out for your interests. We go to great lengths to source those hard-to-find coverage options – so we are pleased to introduce a new protection plan, My Zombie Insurance. Their tag line says it all: “Zombies don’t care. We do.”

Of course, as with all coverage, we think it’s important to ensure you have a range of options to choose from, so here’s a brief video clip about another choice from the Life Group National Zombie Insurance Fund – “for when the undead come knocking at your door.”

More funny insurance ads

It’s Friday before what will be a 3-day weekend for many, so we are feeling frisky … a good time to add a few wacky insurance ads to our growing ad portfolio. Bizarre as they are, these are actual ads that attracted an almost cult-like following in the Chicago area in the early 1990s. They’ve proven pretty popular on the Web, too – see why.

Bizarre bequeathments and strange will requests

Would you like to be buried in your favorite car? Or perhaps you’d prefer to be preserved as a mummy sitting upright and kept on display at your alma mater? And how would you like your assets to be dispersed? Would you like to leave your life’s fortune to a precious pooch or to have it divvied up and doled out to strangers? Or perhaps after you’ve passed, you’d like to have a single red rose delivered daily to your surviving spouse, the way Jack Benny did? All these odd will requests and many others have been stipulated in wills at one time or another.
Whether your post-mortem wishes are highly exotic or purely pedestrian, they aren’t likely to happen at all unless you take proactive steps to ensure that they do – and that requires filing a will and keeping it updated. Making a will is an important part of the financial planning process.
Dying intestate” is the common term for dying without a will. When that happens, decisions about the disposition of your assets default to the applicable state law, which may or may not be in accordance with your preferences. Dying intestate might also result in a dispute among potential your heirs or a delay in assets being dispersed to your heirs. The CCH Financial Planning Toolkit adds some important considerations:

“The bad thing about dying intestate (other than dying, of course) is that a state’s default rules may not go far enough to meet a deceased’s distribution wishes. For example, although a surviving spouse is generally first in line to inherit, the spouse may end up having to share the estate with other relatives of the deceased. Also, if a person is not on the list of potential heirs, then he or she is out of luck (which may result in excluding a “life partner,” lifelong friend, or favorite charity). The final indignity is that, if there are no relatives identified during probate, the state takes the assets the deceased spent a lifetime acquiring.”

You can learn what is likely to happen to your assets should you die without a will by checking this map of intestate succession laws for all 50 states.
It’s important to note that a will is not the be all and end all for ensuring the dispersal of your assets according to your wishes. The distribution of many of your financial assets – such as life insurance policies or 401K and IRA accounts – would be governed by who you named as a beneficiary. It’s extremely important for you to keep your beneficiaries up to date because life circumstances change. You may or may not be pleased if your ex-spouse inherits your life insurance policy, but if you haven’t changed the designated beneficiary, that could happen.

Friday humor – insurance ads from the Netherlands

The Dutch insurance company Centraal Beheer is well known in Europe for their humorous TV commercials in which the characters are put in precarious positions – the implied message being “Is your insurance up to date? Call us.” You can learn more about the company and the commercials on the Wikipedia page for Centraal Beheer’s. Here’s a sampling of a few commercials: