Covid- 19: the Effect on Life and Disability Insurance

Covid-19 has changed how insurance companies are accepting and reviewing applications for life and disability insurance. The changes implemented may be temporary, yet with the unknown outcome of the virus, most insurance companies are being more cautious. The good news is that many companies
are skipping the medical exam requirement to apply, but are heavily relying on medical records, prescription checks and signed statements of Covid-19 contact.
Should you wait? The problem with waiting is that you may never get around to it or risk getting sick or injured then it may not be possible. If you are healthy, get it now. Don’t wait! If you are worried about meeting face to face, meetings can easily be held over Zoom. Applications can be submitted and signed electronically as well.

What do I recommend?
Work with an insurance professional. There has been a rise of online life insurance applications. Although there is nothing wrong taking care of it yourself, these premiums may be slightly higher. An insurance professional would review your situation, shop around to different companies and give you a better idea of your options and cost. Not everyone’s situation and need are the same. If you currently have a life or disability insurance policy, you should also set up an appointment for a review. A recent life change like a new baby, house, or job may change your insurance needs. Other items to review would be your beneficiaries and your employer coverage. There are a lot of bases to cover so leave it to the professionals to help.

For more information, please contact:
Melissa Delgado
Insurance Professional
MDIS: Melissa Delgado Insurance Solutions
(714) 603-6539
melissa@mdis.io

or

Contact Us for More information!
Text/Call: 714-900-2363

• Initial Test for All Employees
• Weekly COVID Testing for All Employees
• Daily Employee Symptom Check
• Sick Employees are Connected to a Doctor
• Doctor Refers to a Drive-Thru Testing Location Near You
• Kyla uses Contact Tracing if Employee Tests Positive to notify Potentially Exposed Employees and Employer
• Doctor Oversees Recovery and Clears Employee to Return to Work
• Employer Access to Kyla Dashboard
• Employee Access to Kyla App
  

Contact Us for More information!
Text/Call: 714-900-2363

IMPORTANT 401K PLAN EMPLOYEE BENEFIT NEWS

This week - A Large Payroll company is being sued over its role as the fiduciary of a multiple-employer 401(k) plan by a sponsor that alleges ERISA violations, such as allowing "unreasonable" record-keeping and administrative fees and selecting "high cost and poorly performing investments."

What does this mean?

• Business Owners and Managers need to have annual check-ups on your 401K Employee Benefits plan to make sure the fees are reasonable, and the investment options are not charging too high of fees.
• Fees are chipping away at the hard-earned money workers are trying to save for retirement. Lower fees means more savings.
• It may be best to have a specialized company who only run 401k Employee Benefits plans to handle this benefit for you. You wouldn't trust your Barber to do your Dry Cleaning, would you?
• The right retirement advisor and third party administrators can take the stress and pain out of all your check-ups and compliance needs of your Employee Benefits plan

Have Questions? Contact Us for a Free Employee Benefits Plan Evaluation.
Call/Text: 714-900-2363
Pacific All Risk Insurance Brokers

From Our Friends at Accrew Bookkeeping...

An interactive workshop on how to keep businessing when the world is not business as usual.

Sign up to join here: https://bit.ly/2Vw6mK8

As business owners, we’ve felt overwhelmed by the information coming at us on a daily basis. There are new rules and opportunities like never before, but it’s hard to sift through to get practical steps to take.

That’s why we’re providing a weekly workshop to help businesses get information quickly and questions answered so they can apply it in their business today.

This week, George Varela will be speaking about How To Reformulate Group Benefits Now to Address Changing Budgets and Benefits Needs.

As companies and government agencies send their employees home to avoid contact with the coronavirus, many cyber-security teams are facing the unenviable challenge of securing sprawling, vulnerable networks.

Every time an employee connects to their corporate network from home, they’re creating possible access points for hackers to exploit. Here are some tips that can help your business...

Risks: What are the current risks for data intrusion, theft, and hijacking?
Today’s information highway is ripe with potentially catastrophic exposures from:

• Hackers scanning the internet every 4 hours exposing system weaknesses.
• Employees being tricked into opening false and clever phishing emails
• Infected personal devices transferring outside problems into your business

Repercussions: What happens when someone has access to my company and client data?
A targeted attack on your business damages your bottom line in many ways including:

• Downtime – lost data equals lost revenue by stopping workflow, production, and increasing exposure to costly regulatory fines. 
• Reputation – Customer trust is hard to earn and even harder to repair
• Devastation – 52% of businesses fail to survive a catastrophic data loss.

Prevention – What can I do to make it harder for my data to be accessed by unauthorized people?
The number one way to prevent invasion of your business data is to be prepared by:

• Backing up, monitoring and testing data and its recovery
• Ensuring strong and unique passwords to avoid the 1,500 data breaches and 1 BILLION passwords stolen yearly
• Controlling who has privileged authorization to your system
• Building a multiple layered network security system that keeps threats at a distance where they are caught and disarmed 

 
Protection – What can I do if my data does get hacked or stolen?
The number one way to protect your business from liability, is to get a Cyber-liability insurance policy. This type of coverage will help to:

• Liability: Covers defense costs, settlements, judgments and, sometimes, punitive damages incurred by a company as a result of a data breach event.
• Loss/Data Corruption: Covers damage to, or destruction of, valuable information assets as a result of viruses, malicious code and Trojan horses.
• Business Interruption: Covers loss of business income as a result of an attack on a company’s network that limits its ability to conduct business, such as a denial- of-service computer attack. Coverage also includes extra expenses, forensic expenses and dependent business interruption.

For More Information on Data Protection Contact:
Agile Enterprise Management

For More information On Cyber Liability Insurance:
Text/phone: 714-900-2363.

When employees are unable to work because of a disabling injury or illness, Short-Term Disability Insurance helps by replacing part of their income.

An employee’s savings might not be enough if an illness, injury or pregnancy keeps them out of work beyond their paid sick days. Short-term disability insurance (STD) helps protect employee income during extended work absences and can help employees pay the bills when they cannot work due to a covered claim.

Short-term disability insurance replaces a portion of an employee’s income for covered illnesses and injuries sustained outside of work.

• Various benefit start dates, including first day injury
  
• Benefit durations up to 52 weeks
  
• Benefit amounts that include 50%-67% of income loss
  

Contact Us to help your employees get covered now.
Call or Text: 714-900-2363

CalSavers is California’s new retirement savings program for workers in the private sector who do not currently have a way to save at work.

Eligible employers with at least five employees that do not already have an employer-sponsored retirement plan will be required to begin offering one via the private market or provide their employees with access to CalSavers by the following deadlines: 

• Over 100 employees – September 30, 2020
  
• Over 50 employees – June 30, 2021
  
• Five or more employees – June 30, 2022
  

The cost of CalSavers investments (consisting of an underlying fund fee, a state fee, and a program administration fee) could be approximately twice the cost of a typical 401(k) investment.

Please contact us for more information on starting a company retirement plan that works best for you and your business.

Thorough documentation is a critical part of performance management. It’s also a vital component when building an employer’s defense against complaints. While an absence of documentation can be devastating to an employer’s defense, poorly written documentation can be just as damaging. And how do you document performance when managing remotely. Learn WHAT to say and HOW to frame the feedback message to correct performance deficiencies and if necessary provide a legal basis for discipline.
WhenMonday, May 4, from 2:15pm - 3:15pm PT
WhereOnline Webinar

**Free for EVERYONE

This presentation will explore:

• Review and discussion of the 5 tips for effective documentation
  

 Click Here to Register! 

IMPORTANT INFORMATION - For Business Owners  in Brea, Fullerton, Santa Ana, Irvine, Costa Mesa, Newport Beach

For those businesses that are working hard to keep their employees, you need to know that Group Health Insurance Plans are available in your area that may save you thousands of dollars a month in premiums and reduce your overhead costs.  With little or no change in amount of benefits, you could start saving as soon as May 1.

There are new benefits options available in these cities, that can reduce costs of benefits compared to Kaiser, Blue Shield, Health Net and United Healthcare plans with similar benefits, with improvements as follows:

1. Lower Overhead Costs by Thousands of Dollars, NOW.
2. Employees on the plan are 100% Covered for COVID-19 Related Treatments, with No Co-Payments.
3. Plans designed with Similar level of Benefits to your current coverage.
4. Good Hospital Networks: Hoag, St. Jude, St Joe's, Mission, Placentia Linda, Providence, UCLA, Keck-USC, Los Alamitos and More.
5. Easy, Online Enrollment for Company and Employees.

A Small Change in your health and Benefits Plan Now, can help the company with thousands of savings over the next 12 months.

Contact Us ASAP for more information:
Call or Text: 714-900-2363
- OR -
Schedule a 10 Minute Phone Call Here

From Our Friends at Accrew Bookkeeping...

An interactive workshop on how to keep businessing when the world is not business as usual.
Sign up to join here: https://bit.ly/2Vw6mK8

As business owners, we’ve felt overwhelmed by the information coming at us on a daily basis. There are new rules and opportunities like never before, but it’s hard to sift through to get practical steps to take.
That’s why we’re providing a weekly workshop to help businesses get information quickly and questions answered so they can apply it in their business today.
This week, Joe Gutierrez will be going over the PPP and EIDL loans and how to navigate them.
Sign up to join here: https://bit.ly/2Vw6mK8