Flood Insurance: What You Need To Know
Flooding can happen anywhere at any time. Now is the time to make sure your property is protected. Homeowners insurance does not offer protection against flood losses. Flood insurance is protection for specific flood events for your home or business.
Flood insurance is available through the National Flood Insurance Program (NFIP) as well as private insurers, including surplus lines insurers. There is a 30-day waiting period for NFIP policies to take effect. LDI can answer basic questions about flood insurance but the department does not regulate the NFIP, approve its rates or changes. Learn more about flood insurance here.
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Planning for Retirement
Having a clear financial plan is important when planning for retirement. The Louisiana Department of Insurance is helping you get you on the right financial footing for your golden years. Here are a few tips:
Review your Finances. If your workplace offers a 401(k), 403(b), profit sharing plan, IRA, or Roth IRA, consider taking advantage and start saving now.
Assess your Life Situation. Life insurance policies can provide benefits throughout life including whole life policies that build cash value.
Grow your Nest Egg. 80 percent of your current annual income is a good amount to save up for retirement. Also, consider if you’ll receive a pension and Social Security and subtract that amount from your annual income.
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Medicare 101: New Cards
The Centers for Medicare & Medicaid Services (CMS) will begin mailing new Medicare cards this month. Residents of Louisiana should begin receiving their new cards after June 2018. Social security numbers are being removed from Medicare cards to prevent fraud and identity theft. Once you receive your new Medicare card, destroy your old card. If you have questions or need assistance, place contact our Senior Health Insurance Information Program (SHIIP) staff at 1-800-259-5300.
Also, join us for our Facebook Live series, Leave it to Vicki, for monthly Medicare updates.
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Earn Continuing Education Credits
The Division of Diversity and Opportunity will hold a Business Building Blocks Workshop May 1 at the Lite Center Theatre in Lafayette. Producers can earn continuing education credits at the free event. The agenda includes a licensing update that will provide more information on changes to the license renewal schedule. For more information, contact our Division of Diversity and Opportunity at 225-219-4344. To register for the workshop, click here.
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