Business owners may think that it’s just an added insurance plan

Professional Liability Insurance (1)When you own a business, you’re more than likely directly involved with the customers and the public. This is great for really getting involved with your sales and services.
Although, sometimes things can go a little less than the way you would want. If any sort of accident happens and a customer or member of the public is harmed in any way, your business could face a liability suit that could ultimately be the end of your business if not handled properly. There is one way to face the onslaught of a liability claim that every business should have, and that is Professional Liability Insurance. At SMA, we offer non-medical service providers protection from claims alleging an act, error, or omission by the firm, its staff or contractors working on its behalf. We understand that each type of business has its own set of unique needs, that’s why SMA Services Inc. can assist you in making sure you’re covered in any event.

What is liability insurance? Business owners who may think that it’s just an added insurance plan that would never be used frequently ask this question. Professional Liability Insurance protects your business assets from claims that may result from advice, expertise, or professional services you provide. If you or your business engages in these activities, you could be at risk for being sued by a customer, client, or other party who claims he or she lost money or was harmed somehow due to you or your business and its negligent actions, errors, or omissions. It’s encouraged that any professional in a business that provides a service or counseling to customers, clients or another party would benefit from professional liability insurance. The plans protect you and your business in cases of faulty service (errors) or failure to provide a service altogether (omission). This type of insurance coverage pays the cost of your defense and any damages awarded (up to policy limits). Insurance companies have developed different specialized policy forms that cater to each risk of the particular profession or service in question.

Another question that many people ask about liability insurance is also very common, why buy? Professionals in any field are expected to completely understand their field and have the proper training in said field so that they may adequately provide their services to customers. With that being said, they are expected to perform the services for which they are hired, according to the standards of conduct in their profession. If they fail to do so, they can be held legally responsible for any harm or financial loss that they cause to another person or business. Another reason a plan should be invested in is because most Professional Liability plans are usually not included in any other insurance policy you may have, personal or professional.

If you and your business fit into the categories that we have mentioned, Professional Liability Insurance may be a plan that your business requires. Even though you may think you know everything about your skill, craft, or service, there is the possibility that one day you would provide subpar service. You and your business should be protected and SMA Services Inc. can help you plan for the unthinkable and anything that may be presented to you. If you would like to begin planning ahead and insuring your business, contact SMA Services Inc. today to secure your business’ future.

Qualified Retirement Plan

Qualified Retirement PlanYou work and work and work for your whole life in hopes that one-day you’ll be able to retire and enjoy the golden years of life. You can’t rely on Social Security to provide you with a trust fund once you reach the age for retirement, so you continue to work to attempt and build up a savings for you and your family. If you have the pleasure of working for a company that offers its employees a qualified retirement plan, that dream is becoming a reality even though it may seem like a distant dream. By offering these plans, companies can attract and retain employees that strive to work and stay with the company for a very long time. You are the one in control of your retirement and the first person you should do it for is yourself.

It is important to understand exactly what a Qualified Retirement Plan is before we can begin discussing the benefits they hold. Qualified Retirement Plans is a plan that is established by an employer for the benefit of the company’s employees. These plans give employers a tax break for the contributions they make for their employees. If the plan allows employees to defer a portion of their salaries into a plan, it also reduces the employees’ present income-tax liability by reducing their taxable income. In some cases, the employer will match the employee’s contributions to the retirement plan. Contributions are made in the accounts, in which the accounts earn income and begin to grow, and, hopefully, the assets in the account appreciate. Thus, when it is time for the employee to retire, he or she may begin receiving a payout from the account.

Qualified plans may allow investments, but only certain types, which vary from plan to plan, but these typically include publicly traded securities, real estate, mutual funds, and money market funds. These qualified plans also define when distributions from the plan may be made. Typically, these distributions are made when the employee reaches the retirement age defined by the plan, when the employee becomes disabled or unable to continue work, when the plan is terminated and not replaced by another qualified plan, or if the employee dies, in which case the beneficiaries receive the distributions.

It is important to note that workers may take distributions from qualified retirement plans before the retirement age is reached or one of the triggering events occurs. If a distribution is made from the plan, the employee may be subject to taxes and penalties that might make it unwise to take an early distribution. Some plans allow employees to borrow from the plan, but they also hold strict rules regarding the repayment of the loan.

This is just another way that you can plan for your future, and, in a way, reward yourself for your life of hard work. That isn’t to say that a Qualified Retirement Plan isn’t a way to help your family continue after a tragic incident. By making these preparations now, you can ensure that you and your family will be taken care of after your days of working are over.

 

Insurance – Just In Case

Insurance_Just In CaseWhat would you say if ask, “Are you going to get sick day after tomorrow”? Most of us would laugh it off and say no, I hope not, how do I know, or something similar. We do not know. That is why we need medical insurance.

Look up the word insurance. Never mind, we saved you the trouble:

  1.  Promise of reimbursement in the case of loss; paid to people or companies so concerned about hazards that they have made prepayments to an insurance company.
  2.  Protection against future loss.

Insurance is a way of managing risk. When you buy insurance you are covering yourself, “just in case”.  You transfer the cost of a potential doctor or hospital bills to the insurance company in exchange for a fee, or premium.  Insurance companies invest the money in a secure way so it grows and is available to pay out the people or companies who have purchased insurance from them.

It is a fact of life. Most of us will become sick at some point in our lives. We do not want too nor do we plan too. However, we need to plan how we will pay for the expense that is incurred when we are sick. It will not take much trouble for you do little research to find out the cost of just a short illness. In fact, all you have to do is ask a friend or family member who has recently had to make a trip to the doctor. Just one trip could cost you more than a month’s insurance premium. We are talking a simple, one trip, illness here. If you really become ill, say with a serious illness the cost could sky rocket. And we do not even want to think about the cost of a hospital stay.

Let’s talk about something a little less depressing. The good news is there is insurance you can afford that will help cover the cost of being sick. If you never have to use the insurance you are truly blessed. We want you to see the importance of having the insurance “just in case”. More good news, you do not have to make the decision of what insurance company to use by yourself. There is help for you. SMA Services, Inc. is just the place you need to go for help with your insurance needs. We are able to fit you with just the plan and coverage you need for you and your family. SMA Services, Inc. will help you decide what coverage you need and what company will give you the best coverage for your money. Get your insurance today, just in case. Remember the cost of insurance may seem costly to you but it is not near the cost of medical care.

SMA Services, Inc. representatives are able to help you with insurances needs for yourself, your family, or for your company.

Our Customer Service Representatives can help you. Do not wait any longer. Give us a call. 1-800-423-4332

Don’t Be So Quick to Dismiss Disability Insurance

Don't Be So Quick to Dismiss Disability InsuranceThere are a multitude of people that think disability insurance is a waste of money and unnecessary expense.

Those people are foolishly wrong. A disability can happen at any time without any warning, and without preparation – it can leave you in a very uncomfortable position. A disability could prevent you from being able to work or provide for your families. Although, with a personal disability insurance plan, a monthly income provided by the provider can help keep the household afloat.

There are certain types of disability insurance policies out there and they cover a wide array of issues. Individual disability insurance is the most common and most used by people who are employed by employers that do not provide benefits or self-employed individuals who desire disability coverage. High-limit disability insurance is designed to insure that the beneficiary’s income benefits are at sixty-five percent of their income regardless of their income level. Key-person disability insurance provides benefits to protect a company from any financial hardship that may result from the loss of a key employee due to some sort of disability. Business overhead expense disability insurance provides reimbursement to a business for overhead expenses should the owner suffer an accident resulting in a disability. National social insurance programs are insurance programs provided by the national government of a country to all citizens. This has come to be the single most important form of disability insurance provided. Employer-supplied disability insurance is a type of insurance that is provided by an employer to any employee that suffers an injury resulting in a disability from an on-the-job accident.

There are certain things that disability insurance does do, but there are also some common misconceptions about disability insurance that are worth noting. Disability insurance coverage does not replace your entire paycheck. Most policies will only cover around fifty to seventy percent of your salary. It also does not pay benefits under any and every circumstances. Policies include a specific definition of “disabled” which each person may meet in order to qualify for benefit payments for their policy. Although, there are certain things that disability insurance will cover after your accident. A disability insurance policy covers the most vital and valuable asset: the ability to earn an income. Most policies let you tailor the cost and terms of your policy to fit your budget and needs. By allowing you to choose how long you’ll wait after becoming disabled, you determine how fast your payments will begin and how long they will last.

If you think about it, everything you have today depends on your ability to earn an income. Having disability insurance can provide you and your family with a sense of security of knowing that money will still be there. If the unexpected should happen, you can breathe easily by knowing that you’re still able to receive a monthly income for your expenses. Your income is your most important asset. Don’t let an injury debilitating injury prevent you from being able to provide for your family.

Professional Liability Insurance

Professional Liability InsuranceWe gain many words of wisdom from Uncle Bud while visiting in the coffee shop. The latest being how he feels about insurance. He stated, “I feel toward insurance the same as I feel toward toilet paper. I don’t like to buy it but sure am happy to have it when I need it”. Of course we all chuckled about his analogy. This comparison makes it easy for anyone to understand the importance of Professional Liability Insurance. While all of us may never need Professional Liability Insurance it is a given that we all benefit from the great invention of toilet paper.

Professional liability refers to liability that arises from a failure to use due care and the standard of care expected from a person in a particular profession. Most of us are aware of cases of malpractice insurance needed by those in the medical field. This includes doctors, dentists, nurses, hospitals and other health-related organizations. Medical Professional Liability Insurance policy covers bodily injury or property damage and may include personal injury such as mental anguish. We understand that not all adverse patient outcomes are results of negligence. However, all health care providers are human and accidents happen. That is one reason the insurance is so important.

Do other professional people need Professional Liability Insurance? To discuss this question let’s take a look at part of what Wikipedia has to say about Professional Liability Insurance:

Professional liability insurance (PLI), also called professional indemnity insurance (PII) but more commonly known as errors & omissions (E&O) in the US, is a form of liability insurance that helps protect professional advice- and service-providing individuals and companies from bearing the full cost of defending against a negligence claim made by a client, and damages awarded in such as civil lawsuits.

Professional liability insurance may take on different forms and names depending on the profession. For example, in reference to medical professions it is called malpractice insurance, while errors and omissions (E&O) insurance is used by insurance agents, consultants, brokersand lawyers.[1] Other professions that commonly purchase professional liability insurance include accounting and financial services, construction and maintenance (general contractorsplumbers, etc., many of whom are also surety bonded), and transport. Some charities and other nonprofits/NGOs are also professional-liability insured.

As we see in this condensed form of Wikipedia’s definition many professionals would benefit from having Professional Liability Insurance. As much as we may wish nothing would ever go wrong, it does. People make mistakes, things are over looked; let’s just face it, “stuff happens”. Remember what Uncle Bud had to say. Don’t you want your “toilet paper” in place before you need to use it? Get your insurance in place today!

SMA Services, Inc. can help you decide if you need this type of insurance. Give them a call. They will help you make the right choice on the amount and types of coverage you need according to the profession you are in.

Our Customer Service Representatives can help you. Just give us a call. 1-800-423-4332

Payroll

PayrollWhen running any type of business, your employees are your backbone. They help you carry your business and make sure the day-to-day duties are handled.

You also want to make sure that they are compensated well, fairly, and on time. If you’re handling the payroll aspect of your business on your own, the outcome could be risky and complex which leaves you and your company vulnerable to several different negative possibilities. By turning over your payroll completion to an outside source, you reduce the unwanted risks as well as ensure greater accuracy with up-to-date tax rates and regulatory information. You can simply your payroll with a combination of resources available through SMA Services to help you make sure your employees and your business are taken secured.

By allowing SMA Services to take over your business’s payroll, you are putting a dedicated team in charge of handling the payment of your employees. Your business receives expert, one-on-one service and support from a local, small business minded team. SMA Services provides a better payroll experienced that is focused on providing you with a smooth, glitch-free payroll system that is customized to meet the unique needs of your business regardless of the size.

When you put SMA Services in charge, you’re still the boss of your payroll. The details of your payroll system are customizable all the way down to the way that you submit your information to SMA Services. You can submit your payroll directly to our professional payroll team and receive a small business payroll package delivered to you, included with processed checks and essential management reports and supplies. We make it easy to submit payroll online, by phone, or through Email, view reports, import payroll data to your business’ accounting software, and save time answering your employees’ payroll questions that may arise.

The SMA Services payroll system is ideal for small to mid-sized employers. With SMA Services’ payroll and tax compliance, your payroll can be managed in-house and online. This allows you to eliminate inefficiencies of managing data in multiple places. This provides you with complete control and ownership of your payroll information and financial assets.

In addition to eliminating confusion and additional stress, SMA Services allows you to manage your payroll on your terms. By cutting checks, SMA Services can put effective payroll management tools in your hands to make every pay period business-as-usual. You have options when entering in your payroll information into the accounting software of your choice as either a regular entry or in more detailed check and draft amounts. You can automatically withhold and remit garnishment payments through electronic fund transfers. SMA Services gives you access to accurate reports to make understanding your payroll that much easier. SMA Services also offers the convenience of direct deposit, a paycard program, or a variety of traditional paper check options to fit the need of your employees.

When SMA Services handles your payroll needs, you can rest assured that you are receiving accurate handling of your payroll resources. You have enough to worry about when handling a business, so make payroll one less thing you have to struggle with juggling everything and then your business’ payroll. Turn the payroll worries over to SMA Services and continue carrying your business with a little less to worry about.

 

Do you need Health ‌Insurance ‌Quotes?

DoYouNeedHealthInsuranceQoutes-01Do you need Health ‌Insurance ‌Quotes?
Let’s face it; almost everyone agrees that they need health insurance. But finding the right insurance for your needs can be so confusing. We all need health insurance no matter our age. You may be enjoying good health at the moment but that does not mean you will continue to do so. We all know life has a way of changing in an instance. So does our health.

Many parents have insurance on their children but decide they cannot afford to have insurance on themselves. Think about this for a minute. How will it affect the children if the parent gets sick or has an accident? You will either not get treated or end up with a huge medical bill that has to be paid totally out of pocket. Either of these could create a bad situation for your family.

Most everyone needs help deciding what insurance is best for them. You may not even know what coverage is out there for us. With the cost of healthcare being sky high these days going without health insurance should not be an option. SMA Services, Inc. has the ability to find health insurance quotes for you. They will work to find you the best possible rates and coverage. Let them help you so you can have peace of mind in case of unexpected health issues.

Does Your Employer Offer Health Insurance Benefits?
If you don’t have health benefits or disability insurance through your employer, you still have options. One is you can refer your boss to our services so he/she can get health insurance quotes and find the best rates on group health for his/her employees. Or, you can fill out our quick health insurance quote form to see your options for individual insurance from licensed agents.

Health Insurance While Being Young and Healthy
Your health or age does not change the fact that we all need insurance. If you have an accident or an unexpected illness, the bills can pile up so quickly. Having insurance is the only way to protect yourself and your loved ones from these potentially devastating costs.

Buying Health Insurance Made Easy
Health insurance is not a luxury. Quotes can vary greatly depending on what type of coverage you are looking for and which company is giving you the quote. Many people are now turning to online health insurance quotes. SMA Services wants to help you get the very best coverage you can fine for what your budget will allow.

SMA Services, Inc. knows that everyone has different needs…We would like to work with you and help you decide what coverage you need for you and your family… We have a Customer Services Representative waiting to help you.

Call Customer Services – 1-800-423-4992 ext 150
ask for Wendy —  benefits@smaphp7.wpengine.com

A Little Knowledge Is a Dangerous Thing

A Little Knowledge Is a Dangerous ThingDo you have a little knowledge about Disability Insurance? Well, rest assure, you need more than a little knowledge about this topic. It is something you need to think about and discuss with someone who will guide you in making the right choices.

Disability insurance is something everyone needs. It is an important way to safeguard at least part of your income if you become unable to work, so do you really need it? Yes! Do not write it off as an expense you can do without until you ask yourself a few questions.

  1. If you had an unexpected surgery could you pay the mortgage while recovering?
  2. Do you have a medical condition that may worsen over the years that might keep you from working? For example; arthritis.
  3. Are you the sole wage earner in your household?
  4. Is your savings account adequate to replace your salary over the next year if you stopped working tomorrow?
  5. Will you qualify for disability benefits through Social Security? If you do qualify will it be enough to cover your responsibilities?
  6. Will you have any credit card bills that have to be paid? If you do, are you going to be able to avoid credit card collection calls for non-payment while you adjust to a new disability? No one likes to be unable to pay their bill and have collect agencies calling them. It is embarrassing. Plus late charges are very costly. Late charges alone can wreck you budget.

These questions are just a few things you need to think about. Better yet why don’t you give SMA Services, Inc. a call and discuss with one of their Reps what type of Disability Insurance you need? You are all familiar with the famous saying, “A little knowledge is a dangerous thing.” If you have a little knowledge about Disability Insurance and make a decision on your own it could be a dangerous thing. SMA Services, Inc. can help you decide if you need short-term Disability Insurance or long-term Disability Insurance.

Hopefully you will never have to use your Disability Insurance but if you have the insurance you’ll have peace of mind knowing you can replace at least a portion of your income if the need ever arises. It is worth your peace of mind even if you just miss one day of work.

While you are discussing your need for Disability Insurance don’t forget that you need to have Disability Insurance for your spouse. SMA Services, Inc. can help you with this too. If mom is out of commission due to an accident or illness child care will be of up most importance. Disability Insurance would help cover those costs. You have done all you can to ensure mom is home with the children. We realize you want the children’s lives to continue to be as normal as possible while their mom recoups.

The Plan

Theplan-01One of the ladies at the coffee club today asks us if we had a Plan for the future. As always Uncle Bud was the first to speak up and let us know he had a plan.

He always has the answer and is so ready to share it with us. Someone made the mistake of asking him to tell us his plan. He would have anyways so it was not a huge mistake. Uncle Bud said, “I have money under the mattress, some cold cash in the freezer, and a few jars of money buried in the back yard”. Well, needless to say, we feel like we need a better Plan. No one could get Uncle Bud to change his mind. We pointed out that houses burn and tornados have been known to carry freezers several miles from home. Someone even had the gall to remind us that if we buried money in the back yard we might forget where we buried the jars.

Finally it was agreed upon that Uncle Bud’s Plan was one he would forever stick to but none of us would join him. We need to feel a little more secure about our future. Some of us have a Plan in place but are not sure it is what we need. Some admitted they do not have a Plan at all. So where should we go for help?

SMA Services, Inc. is the place to go. They will review the Plan you have and help you decide if changes need to be made. If you have no Plan at all then you, without a doubt, need their help. It is never too early to start planning for your future. But keep in mind; it is never too late either. While some of us may have waited longer than we should have to plan for our future we do not need to continue to make mistakes. SMA Services, Inc. will help you see if you are on track. If not, they will help you find different ways to reach your goals and make adjustments as needed.

The younger members of the coffee club can benefit greatly by receiving guidance from the retirement professionals at SMA Services, Inc. They can help them decide how much money needs to be but in what plan. You may be tempted to do your own research. Please reconsider and let the experts help you. SMA Services, Inc. professionals are aware of so many ways to help. How many of us know the different Plans out there? You are an expert in your field of work but are you an expert on 401Ks, Profit Sharing, Hybrid Plans, Money Purchase Pension Plans? Need we go on because there are more? If we are honest with ourselves most of us need guidance in this field.

Your future is serious business. SMA Services, Inc.’s Customer Service Representatives can help you.  They understand the importance of a Plan.

Call Customer Services – 1-800-423-4992

The Value of Mom Revealed

ValueofMomRevealedMoms have the ability to do it all it seems. They cook, clean, raise families, and in sometimes play the role of both parents when the other isn’t present. She does so much that goes unnoticed, and while you’re thankful for everything she does, have you ever really thought about the type of life you would be living if Mom weren’t doing as much as she does? Sometimes the unthinkable can happen and a person whose job was being a homemaker becomes disabled, they may find themselves ineligible for any kind of disability benefits that a normal working citizen could have. Since homemakers may lack the employment history need to qualify for SSDI, or Social Security Disability Insurance, we at SMA Services Inc. believe that just because you don’t have a certain work history means you shouldn’t be qualified for the help you deserve.

In addition to having medical disability, the SSDI program makes it a requirement that the insurer has a substantial work history with an employer that paid taxes to the Social Security Administration. Although, in some cases, if you stayed home for only a short time before becoming disabled, and you have a consistent work history before becoming a homemaker, you may still be eligible for SSDI. This works because SSDI premiums, like most policies, protect you against any sort of disability that may arise in the future. Therefore, even when you quit working you may be “paid up” on your SSDI insurance coverage for several years into the future. In some cases, if your spouse or ex-spouse has died, and you are either at least 50 years old or you have children under the age of 16, you may be able to use your spouse’s work history to qualify for SSDI disability payments.

In the event that you are not qualified for SSDI, there is an alternative option for assist with your income. SSI, or Supplemental Security Income, is available for those who do not qualify for SSDI. However, to be eligible for SSI you must meet certain strict income and asset limits. If your spouse works and you have assets, such as checking accounts and retirement accounts, you probably cannot qualify for SSI because you have too much money.

As we stated earlier, you may be eligible for benefits based on your spouse’s earnings record if your spouse has become disabled and is eligible for SSDI or has died, and:

  • You care for your deceased spouse’s child who is under the age of 16 or is disabled and eligible for child’s insurance benefits
  • You have not remarried
  • You are not eligible for a higher Social Security retirement benefit on your own earnings record or someone else’s, and
  •  You are not entitled to widow(er) benefits.

If you obtained a final divorce from your deceased ex-spouse, and meet all of the above criteria, you are also eligible for benefits.

There are several other benefits and insurance options available to those who qualify. There is no reason just because you are a homemaker that you should suffer without the help you deserve. We at SMA Services Inc. will work to get you the benefits to assist you and your family in your time of need. If you are interested in taking advantage of SMA’s Homemaker’s Disability Insurance policies, contact us today at benefits@smaphp7.wpengine.com and let us help you secure your future.