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Commercial & Business

Mona Lisa Insurance and Financial Services offers coverages for any Commercial Insurance need, such as the examples below.

• General Liability
• Professional Liability
• Commercial Property
• Business Auto
• Flood
• Condominium/Homeowners' Associations
• Excess Liability
• Workers Compensation
• Boiler & Machinery
• Business Interruption
• Directors & Officers
• Fidelity & Crime
• Inland Marine
• Liquor Liability

After analyzing your insurance needs, we will provide you with:

• A competitively priced proposal presented to you for your review.
• A responsible protection program designed for you.
• A company or companies selected to best suit your situation.
• Periodic reviews for the adequacy of your insurance program.
We look for ways to save you money, and we can arrange financing.
Great tips on Commercial and Business Insurance: https://www.youtube.com/watch?v=NmTIfixyGpw


A few things you should know if you own a business:


If you hire a subcontractor to do work for your business, check their certificate of insurance… if they have no workers’ compensation, you could be held liable.
Do you need an umbrella policy?
If your company has a fire and is out of business for 2 months, are you covered for loss of income?
Have you updated the values of your equipment; your policy will not pay beyond the the stated value.
Do you understand the coinsurance clause on your property policy? You should, as it may cost you a penalty in the event of a claim.
Do you have an Insurable Replacement Cost Appraisal should be obtained to properly determine the cost to replace the building.
Flood Insurance should be obtained regardless of your flood zone. 30% of all flood losses occur in the less hazardous zones known as “B, C, X”. Flood insurance is a separate policy and is not included in the property policy.

Home Insurance

A homeowners policy protects your home and other structures on your property — like a garage or tool shed — against loss from many things, including, but not limited to:
• Smoke, fire or lightning
• Windstorm, hail or weight of ice, snow, or sleet
• Theft or vandalism
• Falling objects
• Freezing of a plumbing, heating, air conditioning or automatic fire-sprinkler system, or of a household appliance
To see more helpful information on Homeowners Insurance, please click here to watch our video https://youtu.be/NMdIq1yddMI

Personal Possessions

If your personal possessions — including furniture, clothing, and appliances — are damaged or lost as a result of a covered loss, your policy could provide for them to be repaired or replaced. Policy limits, terms, and conditions apply.

Jewelry, firearms, antiques, and fine art need to be scheduled under personal articles floater policies.

Renters Insurance

If you rent your apartment, house, or condo, you probably need insurance. Remember, your landlord isn’t responsible for your belongings, or if you need to find another place to live, or any personal liability you may face if someone is injured in your home. Renters Insurance is a very affordable way to cover yourself for a variety of unexpected events

Condominium Insurance

If you own a condominium, certain common areas of your building are likely covered by your association’s insurance, but the interior of your unit, your personal possessions and liability are not.

Landlord Insurance

As a landlord renting out your investment property, we know you’ve got a lot on your mind. Finding the right tenants, keeping up with repairs – the list goes on and on. With Landlord Insurance, you’ll have one less thing to worry about. Our rental property insurance protects your property from damages and you from losing income should covered damages make your property unlivable.

Additional Living Expense

If your home is unlivable due to a covered loss, your policy could provide for the additional necessary expenses you incur, up to the limits stated in your policy, to live elsewhere, enabling your family to maintain its normal standard of living.

Personal Liability Protection

You don’t have to be a millionaire to be sued for a million dollars… All it takes is a severe car accident or mishap on your property to trigger a costly jury award.

Umbrella Policy
If these damages exceed your policy limits, you could lose your home, other prized assets, or a significant portion of future earnings. While your Auto or Home policy provides protection, Personal Liability Protection (PLP or umbrella insurance) provides a second line of defense for unexpected and unusual occurrences, like a costly legal judgment. Consider these questions:
• Are the limits on your home and car liability sufficient to cover you and your family’s assets?
• Do you own a home?
• Do you have retirement assets to protect?
If the answers to these questions are yes... you may want to discuss Umbrella Coverage Options.

Commercial & Personal Flood

The common misconception is that you need to live close to water to consider flood insurance. This is a myth
Flood Insurance should be obtained regardless of your flood zone. 30% of all flood losses occur in the less hazardous zones known as “B, C, X”. Flood insurance is a separate policy and is not included in the property policy.
Floods can be caused in many ways including Tropical Storms, Hurricanes or even a severe Thunder Storm. Don’t get caught in rising water — protect your home with flood insurance. Flood insurance is authorized by the Federal Emergency Management Agency (FEMA). Flood coverage must be purchased as a separate policy as flood damage is not covered under homeowner policies.

Commercial and Personal Motor Vehicle Products

An auto insurance policy is a contract between you and an insurance company. You pay a premium. In exchange, the insurance company promises to pay for specific car-related financial losses within the selected coverage limits that you may have during the term of the agreement.

Most states require that you carry automobile liability insurance in certain minimum amounts. If you are at fault in an accident, the law requires that you pay the damages sustained by the person who is not at fault. These can include property damage, which is the cost to repair or replace any property that you have damaged. These can also include damages for personal injuries, which include not only the other person’s medical expenses and lost wages but also damages for pain and suffering, permanent injury, and loss of enjoyment of life. These damages can come to thousands of dollars, even for a minor accident. That’s why adequate insurance is essential to your economic health.

• Commercial Auto
• RV/ Motor Home
• Motorcycle
• Personal Watercraft
• Boat

To learn more about Motor Vehicle Insurance, please click here to watch our video: https://youtu.be/mGOfsiR4wP8

Instant Surety & Fidelity Bonds

How Do Surety Bonds Work?


To put it simply, they guarantee that specific tasks are fulfilled.

This is achieved by bringing three parties together in a mutual, legally binding contract.

The principal is the individual or business that purchases the bond to guarantee future work performance.

The obligee is the entity that requires the bond. These are typically government agencies working to regulate industries and reduce the likelihood of financial loss.

The surety is the insurance company that backs the bond. They provide a line of credit in case the principal fails to fulfill the task.

The obligee can make a claim to recover any losses incurred if the principal fails to fulfill the task.

If the claim is valid, the insurance company will pay reparation that cannot exceed the bond amount. The principal will then reimburse the insurance company for any paid claims.

Get your bond instantly by clicking here

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Life Insurance

Protect what matters most in your life: your loved ones. With life insurance, you can help to ensure their financial needs are met, even after you’re gone.

There are two basic kinds: term and permanent. Your decision on which type may be appropriate for you depends on how you want your life insurance to work for your family. When you’re ready, we can help you determine the amount of protection you may need and the type of insurance that may best fit your goals.

Term Life Insurance

This most basic and least expensive type of life insurance policy allows you to buy coverage for a certain amount of time, such as 5, 10, 15, 20, or 30 years. If you pass away before the term is over, your beneficiary gets the benefit stated in your policy. If you live beyond the term, your policy expires. However, many term policies offer the option of extending your coverage for another coverage period, subject to certain restrictions and limitations

Permanent Insurance

This type of life policy never expires. As long as premiums are paid, it remains in force permanently. Premiums are usually based on your age at the time of purchase and generally remain level. In addition to providing a "death benefit," premiums are also invested to produce returns—adding cash value to your policy. You can even tap into this cash value by taking out a loan, withdrawal, or surrendering your policy.

To learn more about life insurance, please click here to watch our video: https://youtu.be/Ks1XdGYudMs

Disability Insurance

Protect your most valuable asset – your income.

If you’re unable to work due to a sickness or injury, disability income insurance can help you meet expenses and maintain your standard of living. It can help you pay bills like your mortgage, tuition and car payments, and help cover expenses for food, clothing, and utilities. By replacing a portion of your income, disability income insurance can help provide financial security until you get back on your feet and return to work.

Types of Disability Insurance

Short Term Disability Insurance

can replace a portion of your income during the initial weeks of a disabling illness or accident.

Long Term Disability

can replace a portion of your income after those initial weeks, for an extended period. You may have one or both of these through your employer.
Many people also choose to purchase individual disability insurance on their own.

Individual Disability Income Insurance

can provide protection for people who do not have disability insurance available through their workplace or may be used to supplement group coverage through their workplace.

Long Term Care

Long-term care insurance is intended to reduce out-of-pocket costs if someone winds up needing long-term care from a paid provider. Long-term care insurance can pay for a nursing facility or home care, and many policies also cover assisted living, though no policy will pay the full cost of any of these. People usually pay premiums for 20 or 30 years before reaching an age when long-term care is likely.

If, like most people, you never need or qualify for the policy’s benefits, or you collect benefits for only a short time, those years of premiums will turn out to have been a wasted investment. For that reason, it’s best to consider long-term care insurance as a “peace of mind” investment rather than as a sound financial one.

Most people buy long-term care insurance in their 50s and early 60s. The cost goes up with age, but it’s still affordable for many people over age 65. Once you hit the mid-70s, though, the cost of a good long-term care policy becomes very expensive, and it may be difficult to qualify for if you already have health problems.

Even if you are in good health today, there’s a good chance that you’ll eventually need some type of long-term care, at least for a while. By 2020, roughly 12 million people over the age of 65 will require some long-term care, according to a study by the U.S. Department of Health and Human Services.

But that only gives a general picture. The hard part is figuring out in advance whether you’ll need a long period of close monitoring — daily or even round-the-clock care — that you’ll have to pay for. Some 70 percent of the elderly don’t pay for their care but get it exclusively from family and friends.

The odds of needing two years or more of extensive, paid care, is not high. Long-term care insurance, then, is security against a small but nonetheless real possibility of a lengthy, expensive period of care.

IRAs

An IRA lets you build your retirement savings while you enjoy certain tax advantages. Think of an IRA as a box that holds investments such as mutual funds, stocks, bonds, annuities, certificates of deposit (CDs), or other financial products. To help you take advantage of this powerful financial tool, Mona Lisa Insurance and Financial Services, Inc. offers a variety of IRA products. I can help you determine how to best use IRAs to help meet your retirement savings needs.

Other Types of IRAs

There are several types of IRA options available to fit your specific retirement needs. SEP-IRAs (Simplified Employee Pension) can benefit self-employed or small business owners. Spousal IRAs allow a non-employed spouse to start a tax-deferred retirement vehicle.

Roth IRAs

Contributions to this retirement vehicle are made with after-tax dollars and aren’t tax deductible. If you comply with applicable rules, you’ll generally pay no taxes when the money is withdrawn. If you keep your Roth IRA for at least five years, you’ll generally have tax-free and penalty-free access at age 59½. With no age limits for contributions or distributions, you can grow your retirement savings longer.

Traditional IRAs

Contributions to this retirement arrangement may be tax deductible, and you don’t pay taxes on your earnings until they’re withdrawn. Over the years, your traditional IRA accumulates earnings tax-deferred. The result: a tax-deferred retirement nest egg you can access free of the 10% penalty beginning at age 59½ or you can continue to build the account until age 70½.

College Funding

An early start on saving for education puts the power of time and tax-deferred compounding to work for you. Mona Lisa Insurance and Financial Services, Inc. offers tax-advantaged education investment products, including state-sponsored college savings plans and education savings accounts. The money in these savings programs can pay for qualified education costs, including tuition and fees, room and board, and supplies and books. In most cases, you can contribute as little or as much as you want and choose how your money is invested. I can assist you in developing a savings strategy to help you achieve your education funding goals.

Coverdell Education Savings Accounts*

Formerly called the Education IRA, this tax-advantaged educational savings account is held in a child’s name and allows investment choices such as stocks, bonds, mutual funds and certificates of deposit (CDs). The earnings on savings accumulate tax free, with no taxes upon withdrawal when the money is used for qualified elementary school (K-12) and higher education expenses. Contributions may be limited per beneficiary. Once the beneficiary turns 18 years of age, contributions can no longer be made to the account.

529 College Savings Plans*

These state-sponsored and administered programs, named after Section 529 of the Internal Revenue Code, help parents and other relatives save and pay for future higher education costs for children. Every state offers a 529 plan available to residents and nonresidents alike. Earnings and distributions are federally tax free if used for qualified higher education expenses.

Retirement Planning

Retire with greater confidence

With people living longer than ever before, its more important to understand your future income needs.

Making informed decisions now can help you build a better retirement strategy. Mona Lisa Insurance and Financial Services, believes you should consider :

How much have you already saved for Retirement?
How long do you anticipate being able to maintain your lifestyle during retirement?
Why healthcare and Social Security play an important role in your retirement?
When was the last time you completed a comprehensive income and expense analysis?
Do you currently max out your 401k or IRA with pre-tax contributions plus catch-up contributions if you’re 50 or older?
Have you considered lifestyle changes to save even more now and better position yourself for a secure retirement?
Do you understand the tax benefits and the most advantageous options for your retirement savings?

For years retirement meant putting money away, but soon it will mean managing how to withdrawal your savings Retiring with peace of mind requires a strong income plan and retirement investment strategy. Mona Lisa Insurance and Financial Services, believes you should consider these important steps:

Know what your living expenses will be once you retire and the annual income you will need to cover them
Keep the importance of asset allocation and periodic rebalancing in mind as you transition into retirement.
Make sure your portfolio is allocated properly to match your needs and risk tolerance, which may be changing.

Create a sound strategy for generating income in retirement. You’ll need to consider how important continued growth, guaranteed income, flexible access to your money, and principal preservation are to you and balance your income priorities.

Before you start using your savings in retirement, understand guidelines for your withdrawal rate and which accounts to withdraw from first.

Get a handle on healthcare for retirement

Planning for healthcare costs is a critical part of your overall retirement savings strategy, have you planned for future healthcare costs?

Make the most of Social Security

Social Security is a guaranteed source of income in retirement, but do you understand it…if not Ask Mitch by calling the experts at Mona Lisa Insurance & Financial Services today.

Health & Supplemental Insurance

Supplemental Health Insurance helps provide you and your family extra protection from the costs of unexpected incidents such as accidents, cancer and disability. I can review your current health care benefits for any coverage gaps and help you identify what additional coverage you may need—helping protect your financial security.

Cancer Insurance

This supplemental insurance pays you benefits that can be used for non-medical, cancer-related expenses that health insurance might not cover. In addition to other insurance you may have, like medical and disability income, cancer insurance can be used to fill a benefit gap from your other policies. Benefits are paid as you go and cover the actual costs of specific treatments and expenses (up to the maximum allowed) as they happen.

Accident Insurance

This supplemental insurance helps provide a financial cushion to help cover medical expenses and living costs when you get hurt unexpectedly. This coverage can pay you a lump sum benefit for either on or off-the-job injuries. You can use this policy on its own or to fill a gap left by other coverage. If an injury does disrupt your life, it doesn’t have to shake your financial security.

Disability Income Insurance

Helps protect your financial security by providing a source of income when you’re unable to work in your own occupation because of an injury or illness. Your "own occupation" is the job you held at the time you became disabled. This income can help cover your bills, support your family and protect your hard-earned savings.
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