You’ve probably heard that the Michigan legislature recently passed significant changes to our no-fault auto insurance laws. You may have questions as to what the changes mean for you and your family’s insurance plan.  We have answers and will continue to publish updates over time.

Most of the changes do not take effect until July of 2020 but the first change is effective now.  The reforms revolve around the Personal Injury Protection (PIP) portion of the no-fault policy.  In Michigan, PIP basically means medical payments required as a result of car accidents.  The coverage is expansive though and can cover things such as renovations to a primary residence to make them accessible to the disabled, physical therapy, transportation to medical appointments, etc.

The first amendment clarifies the definition of the insured for PIP coverage to:
•the named insured(s)
•the named insured(s) spouse
•resident relatives (must be both a blood/legal relative and a permanent resident at the primary address)

Common situations that this will directly impact would be a boyfriend/girlfriend, fiance, children that no longer reside in the household of the insured parents, etc.  Those individuals, if uninsured, would be limited to $250,000 medical coverage through an entity called the Michigan Assigned Claims Plan.  Regular coverage has no dollar limit.

If you think you might be affected by these changes (whether you are insured by PKIG or not) please give us a call and we’ll walk you through what you need to know.  If you have any other questions, please call for clarification.  Stay tuned to this space and our social media for further updates and crucial information.

(248) 682-7445

info@philkleininsurance.com

Should you convert your term policy?

Term life insurance makes sense for many of us. Specifically, this coverage option provides low-cost protection to the loved ones who would be affected by the loss of your income and other household contributions.

But what happens if you’re approaching the end of the pre-decided term with less financial security than you thought you’d have by now?

Find out more about a step you can take to help keep your family safe:

When does converting your policy make sense?

Medical bills, a job loss and other circumstances sometimes limit wealth accumulation. Thankfully, an easy solution — converting your term policy to whole life — might be within reach if your timing is right.

How does a conversion work?

Most term policies provide a window to convert before your term expires or before you reach a certain age. You typically won’t have to qualify medically, which may get you a lower rate on whole life.

What are some of the long-term benefits of converting your term policy?

A whole life policy lasts for your entire life (as long as you pay the premiums), allowing you to leave money to heirs or charity. Whole life can also support a lifelong dependent, such as a sick or disabled child or spouse. It can also be a tool for mitigating estate taxes.

You may also borrow against the accumulated cash value of a whole life policy for any reason. Just note that policy loans accrue interest, and loans outstanding at death reduce the policy’s death benefit.

What else should you know?

Whole life tends to be more expensive than term because of the additional policy benefits and guaranteed payout. Partial conversion can be a more affordable option.

Have questions? Please reach out to discuss your options if you’re concerned your term policy may be too short.

Why Pipe Freezing is a Problem
Water has a unique property in that it expands as it freezes. This expansion puts tremendous pressure on whatever is containing it, including metal or plastic pipes. No matter the strength of a container, expanding water can cause pipes to break.

Pipes that freeze most frequently are:

Pipes that are exposed to severe cold, like outdoor hose bibs, swimming pool supply lines, and water sprinkler lines.
Water supply pipes in unheated interior areas like basements and crawl spaces, attics, garages, or kitchen cabinets.
Pipes that run against exterior walls that have little or no insulation.

How to Protect Pipes From Freezing
Before the onset of cold weather, protect your pipes from freezing by following these recommendations:

Drain water from swimming pool and water sprinkler supply lines following manufacturer’s or installer’s directions. Do not put antifreeze in these lines unless directed. Antifreeze is environmentally harmful, and is dangerous to humans, pets, wildlife, and landscaping.
Remove, drain, and store hoses used outdoors. Close inside valves supplying outdoor hose bibs. Open the outside hose bibs to allow water to drain. Keep the outside valve open so that any water remaining in the pipe can expand without causing the pipe to break.
Add insulation to attics, basements and crawl spaces. Insulation will maintain higher temperatures in these areas.
Check around the home for other areas where water supply lines are located in unheated areas. Look in the garage, and under kitchen and bathroom cabinets. Both hot and cold water pipes in these areas should be insulated.
Consider installing specific products made to insulate water pipes like a “pipe sleeve” or installing UL-listed “heat tape,” “heat cable,” or similar materials on exposed water pipes. Newspaper can provide some degree of insulation and protection to exposed pipes – even ¼” of newspaper can provide significant protection in areas that usually do not have frequent or prolonged temperatures below freezing.
Consider relocating exposed pipes to provide increased protection from freezing.
How to Prevent Frozen Pipes
Keep garage doors closed if there are water supply lines in the garage.
Open kitchen and bathroom cabinet doors to allow warmer air to circulate around the plumbing. Be sure to move any harmful cleaners and household chemicals up out of the reach of children.
When the weather is very cold outside, let the cold water drip from the faucet served by exposed pipes. Running water through the pipe – even at a trickle – helps prevent pipes from freezing.
Keep the thermostat set to the same temperature both during the day and at night. By temporarily suspending the use of lower nighttime temperatures, you may incur a higher heating bill, but you can prevent a much more costly repair job if pipes freeze and burst.
If you will be going away during cold weather, leave the heat on in your home, set to a temperature no lower than 55° F.
How to Thaw Frozen Pipes
If you turn on a faucet and only a trickle comes out, suspect a frozen pipe. Likely places for frozen pipes include against exterior walls or where your water service enters your home through the foundation.
Keep the faucet open. As you treat the frozen pipe and the frozen area begins to melt, water will begin to flow through the frozen area. Running water through the pipe will help melt ice in the pipe.
Apply heat to the section of pipe using an electric heating pad wrapped around the pipe, an electric hair dryer, a portable space heater (kept away from flammable materials), or by wrapping pipes with towels soaked in hot water. Do not use a blowtorch, kerosene or propane heater, charcoal stove, or other open flame device.
Apply heat until full water pressure is restored. If you are unable to locate the frozen area, if the frozen area is not accessible, or if you can not thaw the pipe, call a licensed plumber.
Check all other faucets in your home to find out if you have additional frozen pipes. If one pipe freezes, others may freeze, too.

Tips by the American Red Cross