Page 10 - AAA Now! – AAA Shelby County – September/October 2020

FINANCIAL SERVICES
A Family Budgeting Tool for the 21st Century
Sharing and budgeting funds across the modern family is now easier – and more secure – with reloadable prepaid cards. An inexpensive and
beneficial way to get funds quickly to those who need them, reloadable cards often become the preferred payment
choice among even
the busiest families
with dynamic
lifestyles. Whether
it’s to help support
a student at college
or studying abroad,
teach teens money
management and
budgeting, or help
a dependent family
member with
everyday expenses,
those who choose
prepaid favor responsible spending and financial security.
Card issuer and major payment networks, such as Visa®, provide critical security features in today’s prepaid card market. Two major features include
chip-and-PIN technology to limit payment system fraud, and a zero-liability policy, to help ensure cardholders aren’t responsible for unauthorized transactions. Unlike cash, a lost or stolen card can be replaced, and some networks offer emergency
services like cash and card replacement.
Today’s families
and young adults are choosing reloadable prepaid as a smart financial solution. It can simplify budgeting and help to teach money management skills and disciplined spending. The cards are not linked to a bank or credit account, which means there is no credit check
required, and no borrowing money, running up debt, overdraft fees or paying interest on a balance. Cardholders have control of how much and how often they choose to spend and then reload funds when necessary. Reloading a prepaid card is easy.
Some cardholders automatically load their card through direct deposit or from a checking or savings account. There are also options to reload with cash or checks. These convenient reload methods save time, and cardholders can access funds quickly.
Prepaid also offers popular account-visibility options, like online account access and smartphone apps. These features help cardholders monitor card balance and recent transactions, track spending targets, and stay on budget. Primary cardholders can easily stay informed of card activity by activation text and email alerts. Secondary cardholders have the freedom to spend independently, but only what’s loaded to the card.
Enjoy all of these benefits and multiple reload options – including AAA locations, fee-freeSUBSCRIPT 1 ATMS and more – with a AAA MemberPay Visa Prepaid Card. Purchase one at your local AAA or get more details at AAA.com/MemberPay.
1While this feature is available for free, certain other transaction fees and costs, terms and conditions are associated with the use of this card. See cardholder agreement for more details.
Card is issued by MetaBank®, Member FDIC, pursuant to a license from Visa U.S.A. Inc. and can be used everywhere Visa debit cards are accepted.
ADJUSTING YOUR INSURANCE
Continued from page 9
which generally protects you against lawsuits. If you buy a home ... Start shopping for home
insurance once your new home has been appraised. While homeowners insurance isn’t required by law, every mortgage lender requires it. Based on the state you live in, be aware that your credit score may impact your premium.
If you buy a second home ... You may be able
to extend the liability portion of your existing homeowners policy to your second home. However, talk to your insurance agent about setting up a second homeowners policy to protect the structure and your belongings—especially if you plan to
rent the home out. You may also want to consider a personal umbrella policy for extra protection against lawsuits.
If you buy a car ... After making a verbal or written sales agreement to purchase the vehicle, call your insurance agent—you’ll need insurance to drive it home. Make sure you know the VIN, mileage, make, model and trim, all of which can affect your premium. Before purchasing collision and comprehensive coverage, ask about the value of your car. If you have an older car with low market value, the cost of these coverages may outweigh the benefits.
If your commute changes ... If you are no longer 10
commuting or have cut back on driving, talk to your agent to see if you can have your auto premium reduced.
If you upgrade your property ...
Consider adjusting your homeowners or renters policy, or purchasing an umbrella policy, if you bring additional valuable belongings into your home.
If you remodel or renovate your home, or add amenities such as a pool, talk to your agent to have your homeowners policy adjusted accordingly.
If you start a business ... Be aware that your homeowners, renters or auto policy may not adequately cover you when you use your home or car to conduct business. Talk to your insurance agent to make sure you have the coverage you need.
DOWNSIZING AND RETIREMENT
The later years in life are a great time to simplify. If you experience a shift in lifestyle or reach a certain age, consider giving your insurance agent a call.
If you downsize your home or reduce your personal property ... Talk to your insurance agent to see if your coverage needs to be adjusted. If your car is aging and has a low market value, talk to your agent about whether or not collision and
comprehensive coverage outweigh the benefits. If you retire ... Ask your agent if you qualify for a
discount on your homeowners or renters insurance. If you drive less than before, you may be able to have your auto insurance premium reduced based on the state you live in.
If you’re a mature driver ... Be aware that your auto insurance rate might increase even if you have a clean record, as senior drivers are statistically more prone to accidents. However, discounts are available for those that complete a DMV-approved course for mature drivers, so talk to your agent.
To make sure you have the coverage you need, contact your AAA insurance agent by calling 937-492-3167.
SEPTEMBER/OCTOBER 2020