Page 2 October 30, 2014 Finance Childproof Your Finances (BPT) - Whether welcoming a newborn, adopting a child or becoming a stepparent for the first time, bringing a child into your life means big changes - and a big impact on your finances. According to the United States Department of Agriculture, parents of children born in 2013 will spend approximately $245,000 - per child - on housing, education, food, clothing, child care and other expenses until the age of 18. With that kind of monetary commitment looming, new parents need to childproof their finances against life’s unpredictable situations and consider the potentially costly insurance implications of each stage of their child’s life. Securing finances against the unforeseen Americans work hard to keep their children safe - from retrofitting a home for a new baby to teaching a teenager safe driving habits and everything in between. But despite best intentions, on average, parents spend an estimated $11.5 billion annually on injuries to children according to the Centers for Disease Control and Prevention (CDC). “Throughout a child’s life, parents and guardians can face many unexpected financial hurdles related to injuries or illness,” says Adam Hamm, National Association of Insurance Commissioners (NAIC) president and North Dakota insurance commissioner. “Parents need to educate themselves about the risks, challenges and insurance implications of raising a child to reduce injuries, save money and potentially even save a life.” Safety risks and unpredictable circumstances can arise in a variety of ways. Consider the following: • Birth defects affect one in every 33 newborns according to CDC statistics. Babies who live with birth defects may face lifelong challenges, so it’s important to know if your health insurance covers pre-natal and neo-natal screenings, emergency delivery procedures and extended hospital stays. • The Consumer Product Safety Commission reports that 44 percent of playground equipment injuries occur at home. Parents should double check their liability coverage to ensure it covers playmates who are hurt on their property. • The CDC also reports that 46 percent of teens don’t wear seatbelts when riding with friends, significantly increasing their risk of injury or death in an auto accident. Something as seemingly simple as a teen driving contract can hold kids accountable - saving money and lives in the process. Take Action Now Understanding the insurance implications of a new child can be tricky. Get a jump on preparations by exploring the following: • Determine if paid maternity leave is included in your health benefits. If you anticipate needing extra time off, a short-term disability policy might be helpful. • Ask your employer about a flexible spending account that can be used to set aside pre-tax dollars to cover medical expenses and child care costs. • Consider the impact on your auto insurance premiums if your expanding family compels you to purchase a larger vehicle. Shop rates and consider different models before you buy. Rates will vary depending on make, model, age of vehicle, etc. • A new dependent means you should reassess your life insurance. Will your current level of insurance be enough to secure your child’s future if the unthinkable happens to you? Consult with your insurance agent or use an online calculator to determine if you need additional insurance. • Adoptive parents, stepparents and custodial guardians should also check with their health insurers to determine a new child’s coverage eligibility. 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Crew, Lawn Service Clean Ups, Tree Trim, Sprinklers, Handyman, etc. lic# 648106 CALL BRIAN 333 Indiana Street, El Segundo kirkflooring@socal.rr.com 310-493-7811 310-322-7396 Lic# 100085424 gardening EL handyman SEGUNDO GARDENER Licensed/Bonded JOSEPH’S PAINTING & HANDYMAN SERVICES All E.S. 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We cover everything from A-Z. Bill Henrichon Cell: 310-890-7531 Office: 310-542-3470 Billshomeandaptmain@yahoo.com CA ST LIS# 786081 / Bonded & Insured 2011 2012 2013 Serving the South Bay for 25 years handyman FREE ESTIMATES BILL’S handyman HOME & APARTMENT MAINTENANCE TOUCHSTONE CONTRACTOR QUALITY at Handyman Prices. We cover everything from A-Z. PAINTING • PLASTERING Bill Cell:HANDYMAN Henrichon 310-890-7531 Office: 310-542-3470 Reasonably Priced – Referrals Upon Request Billshomeandaptmain@yahoo.com CA ST LIS# 786081 / Bonded & Insured 310-517-9677 30 Year Business and Resident in the South Bay 2011 2012 2013 handyman Serving the South Bay for 25 years FREE ESTIMATES handyman PHILMO HANDYMAN SERVICE TOUCHSTONE One Call does it All! 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Over 30 Years Experience Water Heaters $150 Plus Parts RICH’S PAINTING Specializing in exterior Quality interior work Reliable • Reasonable Rates 310-640-9465 KEEP IT LOCAL NEW LOWER RATES! 26 weeks (6 months) is only $400 52 weeks (1 year) is only $750 If you have any questions call us at 310-322-1830. HOW TO PAY: CHECKS, CASH OR CREDIT CARDS. Include Visa or M/C number along with billing address, security code, expiration date, email address and phone number. PAYMENT MUST BE RECEIVED BEFORE AD IS PUBLISHED! KEEP IT LOCAL NEW LOWER RATES! 26 weeks (6 months) is only $400 52 weeks (1 year) is only $750 If you have any questions call us at 310-322-1830. The deadline for Business and Professional (B&P) Ad copy and payment is at Noon on Tuesday. We reserve the right to reject, edit, and determine proper classification of B&P ads. Herald Publications does not guarantee that the advertiser’s claims are true nor does it take responsibility for those claims. MUST HAVE CONTRACT LICENSE NUMBER IN AD. HOW TO PAY: CHECKS, CASH OR CREDIT CARDS. Include Visa or M/C number along with billing address, security code, expiration date, email address and phone number. PAYMENT MUST BE RECEIVED BEFORE AD IS PUBLISHED! PLEASE NOTE: NEW EMAIL ADDRESS E-mail ad copy to: class@heraldpublications.com COMMUNITIES COUNT Painting, Doors, Locks, Windows, New Faucets, Licensed Electrician, Toilets, Plumbing Repair, Light Fixtures, Drywall, Earthquake Valves, Water Leaks No job too small, We do all Sec 8 work 323.420.4498 323.752.3664 Cell Phone Message Center License # 145328 painting painting TKO PAINTING CO. INC. painting Knocking Out The Competition TKO PAINTING CO. INC. 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Free Estimates RICH’S PAINTING Specializing in exterior Quality interior work Reliable • Reasonable Rates 310-640-9465 The deadline for Business and Professional (B&P) Ad copy and payment is at Noon on Tuesday. We reserve the right to reject, edit, and determine proper classification of B&P ads. Herald Publications does not guarantee that the advertiser’s claims are true nor does it take responsibility for those claims. MUST HAVE CONTRACT LICENSE NUMBER IN AD. PLEASE NOTE: NEW EMAIL ADDRESS E-mail ad copy to: class@heraldpublications.com COMMUNITIES COUNT OVER 40 THOUSAND PAPERS DELIVERED WITHIN MILES OF YOUR HOME OR BUSINESS.
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