Insurance Archives - Ross Law Firm Ltd.

Buying long term care insurance for your parents

08/17/202008/15/2018 by Report from Counsel

Are your parents adequately prepared for retirement? If not, are you planning to help them out?

In many families, one or more adult children will step up to help Mom and Dad when they can no longer safely take care of themselves. That could mean time away from your family and job or pitching in financially to cover a variety of expenses.

Quick legal checkup

08/17/202005/08/2018 by Report from Counsel

Title assets in your name as trustee of your living trust
Update your power of attorney for property and for health care
Consider options for
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Survivorship life insurance can be good vehicle for estate planning

08/17/202003/30/2017 by Report from Counsel

Survivorship life insurance (also known as “second-to-die”) can be an important vehicle to consider for estate planning. This type of insurance policy covers two lives and pays out the proceeds when the second insured dies. One benefit is that the premium tends to be lower than it would be for two separate policies because the … Read more

‘Longevity insurance’ sales are growing fast

08/17/202009/29/2015 by Report from Counsel

There’s a new product on the market called “longevity insurance.” This is really just a new name for an old concept, the deferred annuity. Unlike most annuities, which are purchased with a lump sum and begin paying out soon afterward, these policies typically don’t begin paying anything until some 10 or 20 years after you … Read more

Homeowners’ Insurance: The Devil Resides in the Details

08/17/202008/19/2014 by Report from Counsel

Reading and understanding all of the language in a homeowners’ insurance policy are not formalities to be skipped over while searching for the signature line. As with any contract, the fine print can have real and lasting consequences, and its contents will control over any contradictory verbal assurances. Taking the time to under-stand the terms of their policies might have headed off bad outcomes for homeowners in two recent cases.

Recreational-Use Immunity for Golf Injury

08/17/202003/17/2014 by Report from Counsel

The purpose of recreational-use tort immunity statutes, which are common across the country, is to encourage private and public landowners to make their property available for public recreational use. To advance this public interest, these laws usually immunize the owners or occupants of real property from negligence liability toward people entering the land for recreation, often on the condition that the property is made available for use free of charge.

Typically the statutory immunity stops short of protecting defendants from liability for greater degrees of wrongdoing, such as acts or omissions that can be characterized as willful, malicious, or grossly negligent. Originally the perceived need for immunity arose because of the impracticability of keeping large tracts of mostly undeveloped land safe for public use, but the concept has evolved so that it need not necessarily involve vast expanses of wilderness.

Financial Fraud Against The Elderly

08/17/202003/15/2013 by Report from Counsel

It is a sad and sobering reality that scam artists intent on committing financial fraud or the outright stealing of money, property, or valuable information prey upon vulnerable senior citizens. The threats can take many forms, but the elderly and those watching out for them can have some measure of protection by taking a few … Read more

Umbrella Insurance Policies

08/17/202011/08/2012 by Report from Counsel

As insurance prices continue to rise, many people are looking for more and better insurance coverage for less money, and “umbrella policies” are often a good
option for increasing coverage. Umbrella policies get their name from the coverage they offer: Like an umbrella, they provide expansive coverage for you and
your assets. Umbrella policies act as a kind of backup for your primary insurance and can provide a cost-effective way of increasing your insurance coverage.

Homeowner Loses Flood Insurance

08/17/202007/26/2012 by Report from Counsel

When the owner of a home with a history of seasonal flooding from a nearby creek returned to the home after an extended vacation, he noticed damage to the
home from flooding. Soon after that, he made an insurance claim on a policy administered by an insurance company under the National Flood Insurance Act.

Misrepresentation about Water Damage Is Not Property Damage

08/17/202001/29/2010 by Report from Counsel

About a year after a married couple sold their home, the buyers sued them for fraudulent misrepresentation The buyers contended that the sellers had falsely represented that the home had no moisture or water problems, no damage due to Hooding, and no problems with its foundation The sellers, in turn, asked a state court to declare that the carrier on their homeowners insurance policy was obligated to defend and indemnify them against the buyers’ lawsuit.