Hope you've had a wonderful summer. Our family has enjoyed having a different schedule and being able to plan some last-minute trips for fun. Insurance is all about planning -- but unlike last-minute summer trips, it's better to plan ahead.
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Greetings!  Wow, summer has come and is ALMOST gone... Well, in our house that is the case, since football practice starts on Monday, August 2! We've had swim team, basketball camps and some beach and mountain fun. We've also endured some of the typical "brotherly love" that fills our home among 6-, 8- and 10-year-old brothers! Lots has also been going on at Mensh Insurance over the past few months. We've implemented a new Disability Insurance program at Wake Forest University Hospital for all residents and fellows, taken care of the Life Insurance needs of many local and regional personal friends and business clients and continued to help insure families and educate them on the need for Long Term Care and Critical Illness Insurance.
Talking About ...
This month we'll be talking about summer, healthy living, wacky estate tax news, critical illness insurance and more. Thanks for reading!
Danny Danny Mensh |
The Weird World of Estate Tax
Oddly enough, there is no estate tax for those who die in 2010.
 | In 2001, Congress passed estate tax legislation that allowed people to protect an increasing amount of their wealth from taxation upon death. This amount rose steadily from $600,000 per person to $3.5 million per person by 2009. The tax rate was also decreased from 55% to 45% during that time. A strange twist to the law written early in the decade was that in 2010, the estate tax disappeared altogether. The prevailing thought in 2000/01 was that Congress would most certainly revisit and redo the law before the end of 2009 and reestablish guidelines and limits well into the future. GUESS WHAT? Nothing happened. Some say it was the war, others say election years, but for whatever reason, there is no estate tax on the property of those who die in 2010. This creates a very odd issue for older family members who are sick and perhaps close to death but could cost their heirs a tremendous amount of money should they survive into 2011. Can you even believe we are discussing this?
In the meantime, the new law says that beginning January 1, 2011, the limit is restored to $1 million per person at a 45% tax rate. Any amount of assets above the $1 million within one's estate is then subject to tax.
What do people do to protect against this tax? Some do nothing and feel that "the kids will get what they get." However, many families with businesses that have worked hard for many years or generations to build and preserve assets would do anything reasonable to help offset the estate tax by securing life insurance owned by trusts or kids outright, designed specifically to pay these taxes and continue to allow their heirs to grow to own and grow their business or wealth.
Our thoughts? Common sense certainly calls for careful estate planning, good communication between generations and insurance to protect assets. Call or e-mail with questions. If you want to become more educated about estate planning -- we can help.
Click here for a Wall Street Journal article on the estate tax.
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Critical Illness Insurance
There's a new type of insurance on the market that is getting some increased attention: Critical Illness Insurance. This type of insurance first appeared in 1996, but it's gaining in popularity. Critical Illness Insurance helps cover the staggering costs of serious illnesses including cancer, stroke and heart attacks.
A study done by Harvard University found that "costly illnesses trigger about half of all personal bankruptcies, and most of those who go bankrupt because of medical problems have health insurance." According to the American Association of Critical Illness, there's now an "affordable way to receive a lump-sum cash benefit upon the diagnosis of a critical illness or condition. Critical illness insurance pays a cash benefit even if you make a full recovery. The immediate cash benefit could be as much as $1 million." We recommend this type of insurance in addition to or in replacement of Long Term Care insurance, depending on your goals. Find out more ... |
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Summer Home Runs in Our Hometown
We're proud to be a local business, and we like to support our favorite local businesses, too. Here are some cool finds to get you through these hot August days ...
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1. Summery-looking kids' cooler from Noteworthy, 2. Classic summer treat: pink lemonade cake at Dewey's, 3. Ice-cold smoothie from the Juice Shop (don't forget the protein powder), 4. Ben & Jerry's hand packed pint of signature ice cream (with a lock to prevent family members from stealing your stash!), 5. Moe's at Thruway, which is cool no matter what the temperature, 6. Frozen margarita from La Carreta, 7. A nice cool pool ...
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Welcome to Our New Clients
This has been a busy summer for Mensh Insurance, and we certainly want to thank our new clients. We know that our success is due to the support of many local individuals and businesse, and we want to take this opportunity to say thank you! If you are an individual or a business, you may be thinking about your insurance needs. And we'd like to help. Just e-mail us at askdanny@menshinsurance.com.  |
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Please Help Us Welcome Amy Bridges
Mensh Insurance is very happy to announce that Amy Bridges has joined our team. Amy brings her ideas and help to our evolving website, Facebook Fan Page, e-newsletter, and other marketing projects. In addition, she is available to help with policy service questions and to point you to the right one of our partners if that is what you need. Feel free to drop her a line at amy@menshinsurance.com or call 336-631-5503.
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Working with a Hometown
Home Run:
Bob Grubbs' Carpet Designers
Bob Grubbs' Carpet Designers is the oldest floor covering provider in the Triad.
 | From Danny:
This spring, Rob Grubbs of Bob Grubbs' Carpet Designers called me about
creating an insurance plan for several of the employees at his
successful local carpet and flooring store. Bob Grubbs' is actually the oldest flooring company in the Triad area and was started in 1921. Rob and I are friends as well, so this was a welcome opportunity to talk to him about the insurance needs for his family company and help him set up the Long Term Disability program his company had been considering for a long time.
From Rob Grubbs, Bob Grubbs' Carpet Designers
Danny
helped
our business implement a new Long Term Disability program to protect
our employees and their income in case they are injured or sick and
can't
work. He shopped the market for us, showed us the various carriers and
plans as well as costs, and then recommended what he felt was right for
our people. I can't tell you how much easier I am
sleeping at night, knowing that we are in better shape financially now
than before Danny helped us.
If your company is looking for
insurance advice from a knowledgeable, non-pushy salesperson, please e-mail Danny at askdanny@menshinsurance.com. |
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A Local Home Run Mortgage Company:
Dew Mortgage, LLC
From Danny:
If you're looking for a great independent mortgage broker, try Mike Dew at Dew Mortgage.
 | If you're looking for a great mortgage broker, I recommend Mike Dew of Dew Mortgage. Mike is one of the best independent mortgage brokers in Winston-Salem and he has personally taken care of my home mortgage. He's also helped several of our clients and I'm always impressed with the way he does business.
From Mike:
I've been in the mortgage business since 1989. Owning my own mortgage company gives me the ability to handle all transactions here in Winston-Salem and exceed the expectations of our borrowers. Today mortgage rates are the lowest that I have seen. With 30-year rates hovering around 4.25%, now is a great time to look to refinance or purchase a new home. If I can help you, please let me know.
For more information on home mortgages, contact Mike at mike.dew@dewmortgage.com. Thanks!
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Dr. Jade Teta is the CEO and co-founder of the holistic fitness and lifestyle company Metabolic Effect.
 | Article by: Dr. Jade Teta for Mensh Insurance
Did you know summer exercise has several advantages to getting fit and lean, especially when done outdoors? First, the sunshine vitamin, vitamin D, can aid fat loss due to its impact on controlling the fat-storing hormone insulin. Next, exercising in a warmer environment increases the number of calories you burn during your workout. This is a result of increased energy use as the body attempts to cool itself down. Finally, there are more options for cross-training in the summer; mountain biking, kayaking, rock climbing, road running, cycling, and hiking all add up to fun opportunities to move. It is estimated that a full two-thirds of Americans are now overweight or obese. Smart lifestyle changes are the only real solution to health, fitness and fat loss.
For more information on the fat loss lifestyle, check out Metabolic Effect (www.metaboliceffect.com) and their new book The New ME Diet. |
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Have questions about Insurance (but don't want to ask)?
Want to get a quote (without having to talk to anyone)?
Visit our website: www.menshinsurance.com.
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Join Us on Facebook and Twitter
We now have over 200 fans on Facebook, and we thank every one of you! We update constantly with news and information, provide insurance tips, and discuss insurance news that affects you and your money. Join the conversation today. There's actually so much going on right now in the insurance industry, and we think you'll like staying "in the know."
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Quick Giveaway: Be one of the first 20 people to click this blue button and you'll win a $5.00 gift certificate to the Loop.
Just click the big blue button to let us know that you've read this e-mail all the way to the bottom, and if you're one of the first 20 people, you'll receive a $5 gift certificate to the Loop in the mail (fill out your address when you click the button so we can mail it to you). No strings attached -- just want to see who is still with us here at the end of this e-mail. See -- insurance can be fun.
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 Enjoy the rest of your summer! Let us know how we can help you with any of your insurance needs. If you're one of our football families, tell your athletes to stay hydrated and we'll see you next week.
Take care,
Danny Mensh
Mensh Insurance Company |
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Contact Info |
| Phone
336.631.5503
Fax
336.631.5504
E-mail
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