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In This Issue
Personal Umbrella Policy: Can Your Assets Survive Without It?
Protect More of Your Income From Disability
Need Help with Health Insurance? COPIC Financial Offers New Resources
No Cost Retirement Plan Evaluations
2011 Tax Deduction Limits for Long-Term Care
Personal Umbrella Policy: Can Your Assets Survive Without It?
  What would happen...
  • If your neighbor is injured in your backyard?
  • A passerby trips on a crack in your sidewalk and breaks her leg?
  • Your dog's bite proves worse than his bark?
  • You are in a car accident and get sued for $1 million? 

Today anyone can be sued. And million dollar judgments, once a rarity, have become all too common. Even if the court decides in your favor, you may still have to pay legal fees and court costs. How can you protect yourself?


A simple way to protect your assets is by purchasing a personal umbrella policy.


How does a personal umbrella work?


If there is a covered liability claim under your automobile or homeowner's policy and the dollar amount of the judgment is greater than the coverage limits you have purchased on those policies, the umbrella provides additional limits of coverage. In addition, a personal umbrella policy may cover liability exposures that are not covered under your homeowner's policy, such as personal injury claims for slander or libel. And, you may be surprised by the amount of extra protection you receive for a relatively low rate.


For more information, please contact Jennifer Klein at (720) 858-6283.

Protect More of Your Income From Disability

Recent industry and reinsurance changes have helped close the gap that many higher-income earners were left with when it came to disability income insurance.


For example, under the previous regulations a physician earning $200,000 could only cover 47 percent of his/her monthly gross income. In some cases this percentage could be as low as 20% for incomes in excess of this amount. COPIC's discounted disability program, offered through Principal Life Insurance Company, had similar limitations. Now, Principal has increased the percentage of income covered and the overall benefit amounts. Now that same physician can cover 55 percent of his/her monthly gross income.


The maximum individual monthly benefit has increased from $10,000 to $20,000 for all surgical and non-surgical specialties. Physicians that have group disability benefits can now qualify for a combined total of $30,000/month.  


Some additional individual examples:


Income                   Old benefit                             New benefit

$300,000                 $10,000                                   $12,750

$400,000                 $10,000                                   $15,850

$500,000                 $10,000                                   $16,600


Interested in covering a greater proportion of your earned income from an accident or illness? Contact Mike Edwards at 720-858-6289.

Need Help with Health Insurance? COPIC Financial Offers New Resources

When it comes to health insurance, lately, there are more questions than answers.


In order to help you sort out some of your questions, COPIC Financial offers advice on the following topics. 

Questions? Contact Andrea Levine at 720-858-6287.

No Cost Retirement Plan Evaluations
Consider this:
  • In September, Congress adjourned without extending the Bush tax cuts for all taxpayers.
  • The Healthcare Reform Act includes a 3.8 percent Medicare surtax for all married couples earning more than $250,000 (filing jointly) and who receive investment income.

Though it's possible that changes could still occur, most agree that tax increases are inevitable. Which is why deferring income through a retirement plan is more essential than ever.

If you do not have a retirement plan, it's time to consider one. If you do have a retirement plan, it's time to review it. Fully utilizing the saving and income deferring ability of your retirement plan is critical. HFG Advisors, LLC, can help you assess your current retirement situation.

Considerations for retirement plan sponsors

When you sponsor a qualified retirement plan for your employees, you undertake a significant risk. We find that many sponsors don't realize they are plan fiduciaries. Or, they don't fully understand what it means to be a fiduciary and are not prepared to act prudently in their fiduciary capacity.

Unfortunately, what you don't know can hurt you. In the wake of the recent financial crisis, many plan fiduciaries are finding themselves on increasingly perilous footing. Understanding and complying with regulations is increasingly difficult.

HFG Advisors can also help you understand your obligations under the Employee Income Retirement Security Act (ERISA).

To receive this no-cost evaluation, contact Alan Gappinger or David Bromeier of HFG Advisors at 303-369-3800.


HFG Advisors operate independently of COPIC Financial.

2011 Tax Deduction Limits for Long-Term Care

The Internal Revenue Service (IRS) announced increased deductibility levels for long-term care insurance policies purchased in 2011. 


"For taxable years beginning in 2011, the limitations have been increased," explains Jesse Slome, executive director of the American Association for Long-Term Care Insurance (AALTCI), the industry's trade association. "Tax advantaged long-term care insurance remains one of the few remaining significant tax-savings benefits especially meaningful for small business owners."


The deductible limits under Section 213(d)(10) for eligible long-term care premiums includable in the term "medical care" are as follows:


Attained Age Before Close of Taxable Year    

  • 40 or less: $340
  • More than 40 but not more than 50: $640
  • More than 50 but not more than 60: $1,270
  • More than 60 but not more than 70: $3,390

Source:  IRS Revenue Procedure 2010-40


The American Association for Long-Term Care Insurance ( is the national association serving insurance and financial professionals who provide long-term care financing solutions.  A complete explanation of tax deductible rules for individuals and business owners can be found on the Association's website:

Even if you're not currently in the market for insurance products, we're always available to help make sure you're getting the best coverages at the best prices. Call us at 720-858-6280!

Wendy Heckman
President, COPIC Financial Service Group
COPIC Better Medicine, Better Lives
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Copyright 2010 by the COPIC Trust. All rights reserved. No part of this publication can be produced or transmitted in any form or by any means without written permission from the publisher.

  COPIC Financial Service Group, Ltd. is an insurance brokerage firm representing a variety of insurance carriers. Products offered by COPIC Financial are not issued by COPIC Insurance Company.