Colt’s Commentary February 2024 – Leap Day Birthday

Hey there and Happy Valentine’s Day!

Did you know that 2024 is a leap year? That only happens once every 4 years! What
about the people who are born on February 29? They only have a birthday every 4
years!

What is your legal birthday if you were born on February 29? Well, you were born the
60th day of the year, so in years when there is no February 29, your birthday would be
March 1.

You might ask “how does that work in 2025 when I turn 65? My date of birth was
2/29/1960 and 2025 is not a Leap Year. When do I get Medicare?”

Usually, your effective date for Medicare Part A and Part B is the first day of the month
in which you turn 65. (there are other circumstances to have an earlier or later effective
date)

You might think that means your Medicare Part A and Part B would be effective March
1, 2025 since that is the first day of the month in which you turn 65 because 2025 is not
a Leap Year, and March 1 is the 60th day of the year.

False! When someone’s birthday is the first day of the month, their Medicare effective
date is the first day of the previous month. This means your Medicare Part A and Part B
would be effective February 1, 2025.

As you get closer to turning 65 or preparing to retire, make sure to consult with a
licensed insurance agent who is certified to work with Medicare products, so they can
answer your questions and help you find the plan(s) that best suit your needs. I think I
might know a couple of ladies that can help (Maureen & Shannon).

-Colt
www.medicare.gov
McGovern Agency ~ For all your Insurance Needs!
(586) 464-2400 – Inquiry@themcgovernagency.com

Can Homeowners Insurance Be Transferred To A New Owner? (Clinton Twp, MI)

Hi, this is Maureen. Stay tuned for another insurance tidbit. Home buyers often ask if a home insurance policy can simply be transferred from one person to another. Therefore allowing a new homeowner to begin making the payments when the old owner moves out. The short answer here is no, a home insurance policy cannot be transferred from one person to another. Each policy is unique and coverage rates really depend on a broad number of factors that change from person to person. Now, this isn’t necessarily a bad thing. Uh Let me go ahead and give you a quick example here. If the original homeowner is a college student and the new homeowner is a retiree, the rates will almost certainly be less expensive for the new homeowner right now. More importantly, every homeowner has a different set of coverage priorities, which means the specific coverages and amounts can vary significantly from one homeowner to another. And so before making a final choice on your coverage, be sure to speak with an insurance professional that can help you understand all of the rates and all of the options associated with your homeowners policy.

We’d be happy to review your insurance coverage options with you! Give us a call at (586) 464-2400 or visit https://themcgovernagency.com.

Charlie’s Chuckles – January 2024

 

Man, I haven’t heard a joke that funny since last year! Ha Ha Ha!

I know the new year started almost a month ago, but since this is my first joke of the year, I thought it was fitting to share a New Year’s joke!

This year is going to be pawsome!


~Charlie 🙂

McGovern Agency ~ For all your Insurance Needs!
(586) 464-2400 – Inquiry@themcgovernagency.com

How Important Is Business Insurance? (Clinton Twp, MI)

Hi, this is Maureen. Stay tuned for another insurance tidbit. At some point, most business owners will ask themselves, how important is it to carry a business insurance policy? I get it. This question is totally understandable, especially if you’ve never filed a claim. However, it’s important to remember that just because you’ve never needed to file a claim, doesn’t mean you never will. First off, you’ve got to keep in mind that some businesses are required to carry certain types of insurance. It’s an obligation to be insured. Secondly, operating without insurance, risks your livelihood, it risks the income of your employees and even the solvency of any other businesses that rely on you for service before making a decision on how to structure your business insurance. It’s worth taking a step back and taking account of all the even remotely possible situations that could cause your business to suffer. Once you’ve brought those up to your insurance agent, the good ones can help you shave any unnecessary costs out of your business policy while still providing solid coverage. So don’t be shy about letting them know that you have questions or concerns

We’d be happy to review your insurance coverage options with you! Give us a call at (586) 464-2400 or visit https://themcgovernagency.com.

Colt’s Commentary January 2024 – New Year New You

Hey there,

Have you wondered how popular New Year’s resolutions are?

In the US, 37% humans made at least one in 2023. We haven’t gotten a chance to poll the dogs yet, but it’s likely that getting more treats was high on the list.

Of those people, 87% said they were likely to keep their resolution, but don’t be discouraged if you aren’t one of them.

Failing at New Year’s Resolutions is common. January 17 is unofficially titled “Ditch New Year’s Resolutions Day” and the 2nd Friday of January is “Quitter’s Day”.

According to a Forbes Health/One Poll survey, the average resolution lasts less than 4 months. June 1 is unofficially known as “New Year’s Resolution Recommitment Day”

Good News is that you don’t need an official holiday to make positive lifestyle changes, and any steps forward are to be celebrated!

-Colt

https://www.forbes.com/health/mind/new-years-resolutions-statistics/

McGovern Agency ~ For all your Insurance Needs!
(586) 464-2400 – Inquiry@themcgovernagency.com

Copper’s Corner – January 2024

Happy New Year!

What a perfect day to start the year off right with a great quote!

I chose this one because I think it’s important to start the year off with some positive thinking!

Every day is the best day for me because I get lots of pets and snuggles!

~Copper

McGovern Agency ~ For all your Insurance Needs!
(586) 464-2400 – Inquiry@themcgovernagency.com