SAVE MONEY FOR CHRISTMAS

Farmers has released its latest innovation in Auto insurance for OKLAHOMA today.

For residents of the Oklahoma City metro, including Edmond, Guthrie, Jones, Bethany, Midwest City, Moore, and Norman- its time to cut your costs on your auto insurance rates. You can really see significant savings when combining multiple autos as well as homeowners or life policies.

I have saved clients as much as $2000/year on their home and auto insurance costs this month! Isn't is your turn?

Give me a call today to see what I can do for you!
405-285-5555
Farmers Insurance
Wilson Insurance Agency
Steve Wilson- here to serve you!

Farmers to lead Tournament of Roses Parade on Jan. 1

On Jan.1, 2010, millions of spectators from around the world will celebrate the New Year with the 121st Rose Parade — 2010: A Cut Above the Rest. Leading the floral floats, high-stepping equestrians and marching bands will be Farmers’ entry: a tall parade major in red and white uniform, playing a bugle.

Our theme this year, “Salute to the Bands,” has special significance. Agents, district mangers and employees throughout the United States have been helping several high school bands make it to Parade Day. The volunteers’ efforts come at a time when schools in nearly every state are looking for ways to cut costs, and music programs are often among the first things to go.

Help decorate the float

If you’re in the Southern California area, you can join in the fun and help us apply the finishing touches to our “Major.”

Learn more about the Tournament of Roses.

Did you know? The term float is derived from the first floats — decorated barges towed along canals with ropes held by parade marchers on the shore (source: Wikipedia).













Parade major awaits the big day



Artist applies finishing touches to parade major

Social Media Revolution

This is such a "true-ism". I'm not sure that's even a word, but after watching this video I will check out Wikipedia to be sure.

The basis of this video, without having seen this video, is why I began my blog in the first place.

I want the entire world to know who I am, what I am about, and why I do what I do.

Top Five Things to Know Before Buying Auto Insurance

Whether you've owned your vehicle for a while, or are thinking about buying a new one, one of the biggest considerations you have is how to go about buying auto insurance. Maybe you're wondering whether you even need it. Before accepting the first offer that comes along, or just calling the insurance company you're most familiar with, there are some things to take into account to ensure you get the best deal, and the best coverage.

1. You need it – If you're still making payments on your car, you must have insurance. Your lienholder will require it to ensure they are able to recoup any losses if your vehicle is damaged, totaled, or stolen. Most states also require a minimum amount of coverage. Even if your car is paid off, and you happen to live in a state that doesn't require any coverage, you need insurance. The small amount of money you would save by not paying a monthly premium is insignificant compared to what you would have to pay if you were at fault in an accident, or worse, if you were injured. Insurance provides protection and peace of mind.

2. Your lienholder may have certain requirements – If you're buying a new car, or thinking about switching insurers on a vehicle you're still paying for, find out if your lienholder has any requirements about the kind of auto insurance you need. Some banks will require a low deductible. They want to make sure you'll be able to pay it if you need to. This is also important to know because a lower deductible will in turn give you a higher premium. Check with your lienholder before calling any insurance companies.

3. There are several factors that determine your rates – Other than the deductible you choose, insurance companies determine your rates based on several factors such as your age, whether you've been in any accidents before, and your credit score, just to name a few. Look over these factors and know where you stand before you start asking for quotes.

4. Requesting a quote can affect your credit score – It's best to do as much research online as you can before you start requesting quotes from insurance companies. The first thing any insurance company will do before calculating a quote is check your credit. A high number of inquiries on your credit report can have a negative effect on your credit score, and it doesn't matter that they're a result of your attempt to comply with your state's auto insurance requirements. Do your homework, narrow your choices down to three or four companies, then request quotes to keep the number of credit inquiries low.

5. You can create your own discounts – Most insurance companies will offer their policyholders discounted rates for having more than one policy with them. This can be accomplished by insuring more than one vehicle, or by adding another type of policy, like homeowners insurance. Many companies will also offer discounts on auto insurance if your vehicle has anti-lock brakes, airbags, or an anti-theft device installed. Keeping all your policies with one company, and making sure your vehicle has as many of these options as possible can help you save money.

Total Plagiarism, or maybe not...

It is not plagiarism, due to the fact that I am giving FULL CREDIT to the author. However, I did receive this article and thought it was a great read. It is very applicable to many people in America, and I felt it should be shared.



Michael Jackson's Estate: When Grandparents Get Custody
By Elaine Floyd, CFP
Aug. 17, 2009
Circumstances may compel grandparents to take custody of minor children, thrusting them into a planning situation they hadn't foreseen. The situation has become more common in recent years, and you should be prepared to guide your clients through all of their financial options.

After the unexpected death of Michael Jackson on June 25, his mother, Katherine, immediately stepped in and began caring for his children: Prince Michael Jr., 12; Paris Michael Katherine, 11; and Prince Michael II ("Blanket"), 7. On Aug. 3, Katherine Jackson was awarded permanent custody of the three children.
You can bet that Michael Jackson's 79-year-old mother never expected to become the primary caretaker of three preteen children at this age. Fortunately, she has the financial resources to both assure that their material needs are met and to hire people to help care for them. Some grandparents aren't so lucky. The untimely death or disability of a child's parents is one of those rare occurrences that grandparents seldom plan for. But there are 2.4 million grandparents caring for 6 million children in the United States, so it is possible that you know, or may come to know, a family in this situation. Following is what you should know about grandparents caring for grandchildren. You may choose to incorporate into your financial planning checkups the possibility of becoming a "grandfamily," as this type of unit is known, or you may simply tuck the information away for yourself in case you ever encounter the situation.
Legal issues
Without a formal legal relationship, grandparents may have a difficult time making the necessary decisions for the children, such as enrolling them in school or obtaining medical care. The most important first step a family can take—long before the need arises—is for the parents to specify who they want to care for the children should they become unable to do so. This paves the way for grandparents, if they are named by the parents, to step in and care for the children with minimal hassle.
Michael Jackson's last will and testament, executed in 2002, specified that in the event of his death, he wanted his mother to raise the children. Indeed, the traditional way to name a testamentary guardian is via a will, which should be drawn up by an attorney, signed by the parents, and witnessed by two "non-interested" persons. A statement by the parents as to why they have chosen a particular guardian will facilitate the judicial process that must occur when custody is legally transferred. Michael Jackson named Diana Ross as contingent guardian should Katherine die or become unable to care for the children while they are still minors—not a bad idea, given Katherine's advanced age.

After the triggering event—the death or incapacity of the parents—a court of law will determine if the custody arrangement is in the best interests of the child. The parents' wishes are usually—but not always—honored. In some cases, the children's preferences are taken into consideration. Among court documents at Katherine Jackson's custody hearing were declarations signed by the two oldest children stating their wishes for who would raise them; the judge did not disclose what they said, but presumably they consented to their grandmother serving as their guardian. States differ in their preferences for calling non-parent caregivers "custodians" or "guardians." In many states, "custody" relates to family or juvenile courts, while "guardianship" relates to probate court. Clients may also want to look into their state's standby guardianship laws. Standby guardianship allows some overlap in caregiving responsibility in cases where the parent is sick or dying; the parent retains control over guardianship while the standby guardian waits in the background and steps in when needed. Not all states have enacted standby guardianship laws, so you should encourage all parents and grandparents to see an attorney about the best way to transfer custody in case of the parents' death or disability. One advantage of standby guardianship is that it may be easier to have custody transferred following the triggering event, but laws differ by state on this. Regardless of which advance planning tool is used, upon the death or incapacity of the parents, the grandparents—if they have been named—should immediately contact an attorney about having their guardianship status judicially confirmed. Courts will generally not deny grandparents custody because of their age, as long as they are healthy.
Once permanent guardianship has been granted, the grandparents have the power and responsibility to make any decision for the child that the parents could have made, including medical, educational, and place of residence. And, of course, the grandparents should now execute a will or other document specifying who they want to take care of the children should they become unable to do so.
Financial issues
The expenses of raising a grandchild can throw a client's retirement plan completely out of whack. If the family is lucky, the parents will have left enough assets or life insurance to cover the child's expenses. If not, grandparents will need to review their financial plan and perhaps make some lifestyle changes.
Katherine Jackson is all set: she was awarded an allowance for herself and the three children from Michael Jackson's estate, estimated at around $500 million. (The actual amount of the allowance was not disclosed.)
The major expenses for a newly formed grandfamily are housing, education, and health care. Housing. In choosing the best place to live, grandparents will need to consider not only the size of the home but also the location. Someone—either the grandparents or the children—may be forced to move. In the Jackson kids' case, moving to the family compound was the natural thing to do and was the least disruptive for Katherine. But if grandparents live in a small home, or if they live far away from their grandchildren and do not want to disrupt the children's lives, they may have to move.
Education. If the children will be changing schools, the usual public-vs.-private decision will need to be made. And, of course, the grandparents will want to set up a college savings plan, if they haven't done so already.
Health care. One of the first things grandparents will need to do is put the children on their health insurance policy—if possible. If they can't (say they're on Medicare), or if it would be too expensive, they should look into state-supported health insurance through Medicaid or CHIP (Children's Health Insurance Program; some states call it SCHIP). Normally these programs are for very low-income families, but the requirements are different for grandparents raising grandchildren. Most states take into account only the child's income, not the grandparents'. (Five states—Colorado, Florida, Montana, Nevada, and Pennsylvania—do take the grandparents' income into account for CHIP if they are the legal guardians.)
Taking custody of minor children also gives grandparents access to certain resources. Grandparents who aren't used to having a child in the home will be pleased to learn about the Social Security and tax benefits that come with their little charges.
Social Security. Retirees who are receiving retirement benefits through Social Security may, if they are taking care of a grandchild under 18, receive children's benefits as well. The child's benefit is normally half the grandparent's Primary Insurance Amount (PIA). However, it is subject to the maximum family benefit, so if there are several children or a spouse receiving benefits off the worker's record, all of the ancillary benefits may be reduced proportionately.
Personal exemption. Each additional dependent comes with a personal exemption of $3,650 per person in 2009.
Child tax credit. Grandparents may be able to claim a $1,000 child tax credit for each qualifying child under 17. This credit is limited or eliminated if modified adjusted gross income (MAGI) exceeds $110,000 for couples filing jointly or $75,000 for single taxpayers.
Dependent care credit. If the grandparents work and pay child-care expenses, they may receive a tax credit for up to $3,000 for one dependent, or $6,000 for two or more dependents. This credit is a percentage of expenses paid, on a sliding scale depending on income.
Adoption credit. If the grandparents legally adopted the grandchildren, they may receive an adoption credit equal to actual expenses associated with the adoption up to $12,150 in 2009. If the child has special needs, the full $12,150 credit may be claimed without regard to actual expenses.
Education tax credits. All the usual education tax credits are available to grandparents who are paying for college expenses for dependent grandchildren.
Filing status. A single grandparent who takes a grandchild into her home may change her filing status from "single" to the much more favorable "head of household."
Grandparents who may be called to step in and care for their grandchildren need to be prepared for this eventuality, as remote as it may seem.

In addition to familiarizing themselves with the legal and financial matters, they should also consider the emotional issues their grandchildren would face if they lost their parents to death or incapacity. If grandparents ever needed an excuse to bond with their grandchildren, they might be reminded that frequent contact and fun activities will help strengthen family ties so that the
transfer of custody—if it ever needs to happen—will be easier on everyone.

Life Insurance- Term vs. Permanent... which is right for you?

A Short Course in Insurance: Term vs. Permanent

When faced with the wide range of life insurance coverage available, you may wonder which type is best suited to your needs. As the years go by, it will be important to review and update your plans, as you will likely find that your coverage needs will evolve with your changing life goals. First and foremost, if you don't have life insurance, then you must begin somewhere- immediately!There are two basic types of coverage—permanent (sometimes referred to as cash value) and term life insurance. A closer look can illustrate the short- and long-term benefits that each provides.

Cash Value Life Insurance (Permanent)—Value for Your Dollar
Cash value life insurance not only helps provide financial security for surviving loved ones at the death of the insured, but it also maintains a cash value for the policyholder. Premium payments first pay the cost of the policy coverage itself. Then the insurance company, in order to build the cash values of the policy, invests the “leftover” dollars. Cash value insurance links protection with savings, as assets and earnings accumulate throughout the life of the policy, which the policyholder can access for any purpose.
Some cash value policies provide policyholders with annual dividends. These dividends are the result of higher investment returns and lower expenses than were originally predicted when premium amounts were set. Dividends can be used in many ways, including as a means of paying future premiums, and they can even be reinvested into the policy to generate additional cash values.
Premium amounts owed are contractually guaranteed and will not change as long as premiums are paid in accordance with the schedule set forth in the policy. Payments may continue for a predetermined period chosen by the policyholder, typically ranging anywhere from ten years after the date of purchase to the number of years until a person reaches age 100. The length of the payment period and the amount of coverage will affect the premium cost. Permanent life insurance protection is guaranteed. As long as premiums are paid, the insured is guaranteed coverage for life in accordance with the terms of the policy. Evidence of insurability will never be necessary as long as the original policy remains in force, and benefits will never decrease.
Another feature to consider is its value as a “creditor.” Funds may be borrowed against the cash value of the policy at a predetermined loan interest rate. Loan approval comes from the insurer, but it is generally granted. No repayment schedule is set beyond regular payment of interest on the loan, with outstanding loan balance deducted from the cash value and death benefit by the amount of the loan outstanding plus interest. These loans are generally tax free, and there are no restrictions on their use. However, keep in mind that withdrawals may be subject to surrender charges and could have a permanent effect on the cash value and death benefit.

Term Insurance—Pure Protection for Your Dollar
In a term insurance policy, there are three basics to consider: first, the period of protection is for a predetermined, specified term; second, policies do not accumulate cash values like permanent insurance; and third, premiums may initially be substantially lower than cash value premiums.
Nonrenewable, nonconvertible term insurance for one, five, or ten years may provide the most inexpensive protection available, and this option may be advantageous for those who want to be covered while their children are underage, to back a business loan, etc. Premiums will, however, increase over the period of protection. Term insurance is also available for longer durations (e.g., to age 80), but increasing premiums may result in higher overall costs than permanent insurance in the long term.
Term insurance may be ideal to help cover a specific need, such as an outstanding mortgage. These goals can be met by purchasing coverage for a specified period of time and at the lowest premium outlay. In fact, many companies offer decreasing term insurance in which the death benefit proceeds diminish over time (for instance, to cover a decreasing mortgage balance).

Which Product When? A thorough review of your insurance needs can help you choose the right policy for your individual situation. It is important to determine the short-term and/or long-term nature of your needs, your current cash position, and the coverage you can afford.

Term and Permanent Life Insurance Premium Costs--An Example
Consider a male, age 25, in excellent health, shopping for $250,000 in life coverage. A typical 30-year term policy—one whose premiums remain level for 30 years—would cost about $370 annually until the man attains age fifty-five. Then, the premiums jump significantly—to over $4,700 per year. When he reaches age 65, he will have spent $58,780—money gone forever— on a policy with no cash surrender value. Since there’s no equity, the insurance contract pays off only when he dies.
Compare that to a popular form of permanent insurance called universal life, with higher but level annual premiums of $1739, every year to age 100 or beyond. By his 65th birthday, the man’s total premium outlay of $69,560 ($1739 x 40) will have built equity (cash surrender value) of $157,000—$87,000 more than his premium investment. That’s real money the man can cash in, perhaps to supplement his retirement, borrow against, or leave alone to grow further. Permanent insurance has a living benefit—it can pay off before one dies.

How Much Auto Insurance Do You Need?

One tried and true way to reduce your auto insurance premium is to hike the deductible on your collision coverage and skimp on your liability coverage. Sometimes this can make sense, but often it's not worth the extra risk. In this section I'll explain several of the coverages you're likely to be offered as you shop for insurance (some are mandatory). Then I'll help you figure out how much to carry of each type.
Bodily Injury Liability
This coverage, which is required in most states, compensates the driver of the other car and its passengers in the event you get into an accident. The main consideration here is protecting your assets against lawsuits that arise from auto accidents. "But I'm a careful driver," you say. It doesn't matter. You can get sued even if the accident is not your fault.
Bodily injury liability is sold in standard increments that designate both how much coverage you have per person in an accident, with an additional limit per accident. For example, if you buy bodily injury worth $100,000/$300,000, each of the people you injured could be compensated $100,000, but only up to $300,000 per accident.
How much coverage you need is a function of what assets you have to protect. If you make $30,000 a year and rent an apartment, $50,000/$100,000 should suffice. But if you make more than $75,000 a year, own a house worth $150,000 and have $40,000 in mutual funds, you should consider at least $100,000/$300,000 of coverage.
How much you'll pay to increase your bodily injury liability coverage depends on several factors, including your age, marital status and driving record. It also depends on where you live. In most circumstances the increase in coverage is minimal ($5 per month), however the costs of being underinsured is disasterous.
One more option: If you have substantial assets, buy $300,000 in bodily injury on your auto policy and $300,000 on the liability portion of your homeowners policy. Then spend another $150 to $300 for a $1 million umbrella policy, which covers you against all manner of liability claims. Should you want still more coverage, the cost for an additional $1 million in coverage is minimal: It's typically $75 to increase your coverage to $2 million, and then $50 for each million after that, according to the Insurance Information Institute.
Property Damage Liability
This coverage will pay for the repair and replacement of the other guy's car or property in the event of an accident. State-required minimums are as low as $5,000, but if you total somebody's Lexus, that won't begin to cover the damage.
You're better off with a minimum of $50,000 for each vehicle you own. And to be truly safe, you should have a total of $100,000 coverage.
Personal Injury Protection
This is one coverage you can consider optional, is just depends on your personal situation. PIP coverage pays for the medical and funeral costs associated with an accident for you and your family — regardless of whose fault it was. But if you already have separate health, life and disability policies, you can possibly forgo this one altogether. Check those policies first, but chances are those sort of expenses are already covered. Many hospitals and health insurance companies have denied claims related to auto injuries. They are forcing these to be paid by auto insurers and if you don't have the covereage, you are personally responsible for the costs.
Uninsured or Underinsured Motorist
This coverage pays for medical and funeral costs for you and your family in the event you get in an accident with either a hit-and-run driver or a driver who doesn't have enough auto insurance. These policies usually cover bike and pedestrian accidents, too. Given the prevalence of uninsured drivers nationally, this coverage is essential and will make up for anything your medical insurance doesn't cover.
Collision and Comprehensive
Collision reimburses you for the full cost of repairs or replacement of your car after an accident. Comprehensive covers you in the event your car falls victim to a natural disaster, vandalism or theft. With either coverage, the lower the deductible you choose, the more the policy will cost you. We recommend that you always choose the highest deductible you can afford ($1,000 is fine). After all, the purpose of insurance is to protect you against big losses, not to make you whole to the last dollar. If you have an older car, you might drop this coverage altogether.
Collision and comprehensive — which can account for 30% to 40% of your total premium — are cash-value coverages. That means if your car is damaged, the most you'll recoup is the Kelley Blue Book value, which declines precipitously as your car ages. Here's a good rule of thumb: If the cost of your collision and comprehensive is more than 10% of your car's Blue Book value, it probably makes sense to drop these coverages and save a tidy sum. With most cars, you should approach this limit as the car turns five years old. Understand, however, that if you eliminate the coverages, you'll have to foot the repair bill if you get in an accident that's your fault, or if the car is totalled or stolen.

Trading in a "clunker"?

With the spawn of another "bailout" from our government, the "Cash for Clunkers" program was intended to provide economic incentives to U.S. residents to purchase a new, more fuel efficient vehicle when trading in a less fuel efficient vehicle. The program was designed to provide stimulus to the economy by boosting auto sales, while putting safer, cleaner and more fuel-efficient vehicles on the roadways.
Although the program officially started on July 1, 2009, the processing of claims did not begin until July 24. According to estimates of the Department of Transportation, the $1 billion appropriated for the system was exhausted by July 30, 2009, well before the anticipated end date of November 1, 2009, due to very high demand. Think about this... 6 days and we ran out of $1 Billion dollars? Government and industry estimates agree that around 250,000 vehicles were sold under the program in less than a week. In response, Congress approved an additional $2 billion for the program with the explicit support of the Obama Administration. On July 31, 2009 the House of Representatives approved the extra $2 billion to the program, and the Senate approved the extension on August 6, defeating all six ammendments presented. President Barack Obama signed the bill into law on August 7, and government officials expect that the additional funds will be exhausted by Labor Day.

So now you are asking, "what's this got to do with insurance?"

There are some stipulations with this program that you should be aware of before heading out to your local car dealership. In addition to gas mileage and other restrictions, the program requires that your trade-in vehicle be less than 25 years old and that it must be traded-in toward the purchase of a new qualifiying vehicle.

Also, your trade-in vehicle must have been continuously insured for one year prior to you trading it in.

Other stipulations of the program are:

• Only purchase or lease of new vehicles qualify
• Generally, trade-in vehicles must get 18 or less MPG (some very large pick-up trucks and cargo vans have different requirements)
• You don't need a voucher- dealers will apply a credit at purchase
• The program requires the scrapping of your eligible trade-in vehicle, and the dealer must disclose to you an estimate of the scrap value of your trade-in. The scrap value, however minimal, will be in addition to the rebate, and not in place of the rebate.

If you are participating in this program and have decided to trade in your 1985 Merkur XR4Ti for a new 2010 Ford Fusion, you better make sure you trade in your old car insurance policy as well. Now that you have a shiny new car, you need to revisit your car insurance to make sure you have enough coverage to protect it.

Chances are when you insured your clunker, you dropped your collision coverage to save some money on your car insurance. Collision coverage is the part of your car insurance policy that will help pay for fixing damages to your car in the event of a collision. Many people drop this optional coverage when their cars' value gets low enough so that if they were to get into an accident, they would replace the car rather than fix it.

And your new car might not cost as much as you might think to insure it. Car insurance providers offer discounts for having a safe vehicle. Safety features that are standard today weren't around back in the 80s. Airbags became standard on passenger cars in 1998 with pickups, vans and SUVs being required to have airbags the following year. Some car insurance providers will give discounts if your car has airbags and anti-lock brakes.

Most car insurance providers will also offer discounts if your car has anti-theft devices installed. These devices range from your standard annoying audible alarm to having your VIN etched into your windows. There's a good chance that your older car from either 80's or early 90's didn't come with an audible alarm system. Even if your new car doesn't come with an alarm, you can install an aftermarket alarm and still be eligible for car insurance discounts.

If you are thinking about trading in your old car and taking advantage of the "Cash for Clunkers" program, you better hurry up. The program is scheduled to go until November 1, 2009 or until the funds are exhausted.

Let me begin by saying...

Why Walls & Castles?


Many, many years ago, people worked hard to acquire larger and larger homes, until eventually some literally lived in castles.

History tells us many things about these times. What many of these castles had around them were a wall or a moat, and even both at times.

Why did they have a wall or a moat? It was to keep out the unwanted and to deter thieves.


What serves as a wall today is insurance...

A properly structured insurance program should allow everyone to have a wall that is of the right height for their particular castel. It should not be too big, nor too small.


Nor should it have holes in it. There are numerous things that we could compare as holes.

• a major car wreck


• a house fire


• premature death


• lengthly disability


• long-term illness


• a law suit

My goal as an agent is to provide information and education to families and help insure that they have the right size walls and without holes or blemishes to fully secure them from disaster.