Will You Be Working “After” Retirement? Then Think About Life Insurance


People are living longer these days and may be afraid of outliving their money. Even those who are financially secure are worried. One solution is to work a few more years. The work might be full or part time, depending on the individual’s health and interests, but often overlooked in these situations is the need for life insurance beyond the “normal” retirement years.

The unforgotten financial crisis may be playing a role in such extended working years. Many people panicked after the market crash, got out of stocks and never got back in. They’ve locked in the losses they took then and are still trying to recover



3 Things You Need to Do When You Get Your First Job


Congratulations on landing your first job! Now that you’re earning a living, it’s time to be proactive in taking care of your insurance. A healthy insurance portfolio protects your most precious assets in the event of death, disability or illness. Read on to learn three essential ways to protect yourself and your loved ones.

1. Get a life insurance check-up.

Life insurance is an uncomfortable topic. However, with average funeral costs surpassing $7,000, your loved ones will have to bear that financial burden if you don’t plan ahead. Also, not all debt is discharged when you die, including some private student loans. If you had a cosigner on a loan, you’ll want to check into that and protect that person from your debt with a life insurance policy. Plus, the sooner you get it, the better, as buying life insurance while you’re young allows you to lock in affordable rates.

Employer-provided life insurance, which is often one to times your salary, may not be sufficient. Many experts suggest purchasing coverage equal to seven to 10 times your annual income. To find out how much coverage you need, calculate your total debt from mortgages, student loans, credit cards and other obligations, add in expected funeral costs and factor in the cost to provide for any dependents. Or you can use this easy online Life Insurance Needs Calculator.

Keep in mind that life insurance can offer more than just a death benefit. If you step up from a term policy to a permanent policy that accumulates cash value, you’ll also enjoy “living benefits” of life insurance such as:

  • premium payments that act, in part, as a savings vehicle
  • the option to borrow against cash value to pay off student loans, finance a wedding or buy your first home
  • using the cash value to save for retirement

2. Close income gaps with disability insurance.

The Social Security Administration reports that the average 20-year-old worker faces a one-in-four chance of becoming disabled some time before the age of 67. Despite this sobering statistic, just one-third of American workers carry long-term disability coverage. Disability insurance provides a source of steady income should you become ill or injured and unable to work. If your employer offers this coverage, examine the policy carefully to make sure it meets your needs. Ideally it should contain:

  • coverage for 50% to 70% of your income
  • accident and illness protection
  • long-term disability coverage
  • no annual caps
  • benefits for partial and full disability



You’re Planning for Retirement. Do You Still need Life Insurance?


Let’s be realistic. If you have an adequate investment and pension portfolio, if you have made provisions for your health care costs, if you have no one relying on you for financial support, maybe, just maybe you can afford to retire.

Did you know that a healthy 65-year-old man has a life expectancy of 87 and a woman, 89; and that 38% of the men and 50% of the women will live to age 90, according to recent research on longevity risks and retirement.

Have you thought about outliving your income? Perhaps a lifetime income annuity would be appropriate to cover your basic retirement needs.

Those with kids—and grandkids
How much will it cost to raise a child to age 17? In households with income over $105,000, it’s estimated to be $399,780. Per Child. Without college expense. Combined expenses may be $650,000 or more. How many children do you have? What happens when they come home to live after they graduate? How long will they stay? What happens if you’re is not around to pay these expense? Do you have adequate life insurance?

Grandparents provide the primary financial support for one out of 10 grandkids, and 49% of parents age 60 and older are still providing financial assistance to an adult child.


Is there still a need for life insurance protection? Absolutely!



Workers Compensation for Community Associations – Even With NO EMPLOYEES


Terry Curtis

Independent Insurance Agent in Arizona


Every Condo/HOA should have a Workers’ Compensation Policy – EMPLOYEES or NOT!

Foothills Insurance is proud to offer Workers’ Compensation specifically tailored for Community Associations.

Every Association, employees or not, faces the following exposures:

1. An employee of an uninsured contractor is injured at the association and the employer has

not provided proper coverage. The association may be required by the local Labor/Industrial

authorities to step in as the ‘employer’ as it relates to benefits owed that injured employee;

2. A volunteer working on behalf of the associations is injured during the course of their duties.

The association should (and ultimately may be required to) treat that injury as ‘work-related’

thereby requiring benefits owed under the labor code.

Examples of recent losses paid by our WC Carrier:

Volunteer fell off ladder and injured knee

Volunteer injured back while lifting stove in clubhouse

Maintenance worker fell while picking up trash

Manager developed hernia while pushing dumpster

Volunteer fell and landed on head

Volunteer Board Member fell while hanging picture– broken ribs

Maintenance Worker fell from ladder – broke both ankles

Coverage Considerations…

1. While the General Liability policy does provides coverage for ‘bodily injury’, it EXCLUDES

‘bodily injury to an employee’. A serious injury to a volunteer could easily be viewed as an

injury to an ‘employee’ by your GL carrier.

2. An “If Any” Workers’ Compensation Policy from CAIS (through your local agent) that

includes a Voluntary Compensation Endorsement will respond to each of these exposures

as evidenced in the losses outlined below.


The information in this post was provided by Garth Leone

Program Manager



If you need insurance coverage for your association in Arizona, please email terry@foothillsinsurance.com



Insurance for a Condominium vs Planned Urban Development PUD or Townhouse

Terry Curtis
Independent Insurance Agent in Arizona


If you live in a condominium, you have a deed that grants you ownership in common with the other condominium owners to occupy a certain space. If you live in a Planned Urban Development or PUD, often referred to as a townhome, you have a deed to the lot and actually own your part of the building. This makes a lot of difference when you look into buying insurance for your home. The best thing to do is provide a copy of your deed and your associations Community Covenant and Restrictions CC&Rs, and a property insurance certificate for the associations master insurance policy to your insurance agent. Your property manager can provide the certificate and the CC&Rs or they may be available on your communities website. You can quickly get an unofficial copy of the deed from the Assessors office website in your county. From those documents, an agent can make an independent unbiased evaluation of what part of the building you need to insure. There are no hard and fast rules, but typically a Condo covers your building except for improvement and upgrades you make to the interior. For a PUD or Townhome, it is more common for the association to only insure the “bare walls exterior”, leaving you to insure the interior of your home from the studs or bare walls in. In either case the HO-6 “Condominium Unit Owners” policy is the right policy for you. In the event that your homeowners association only insures the “common areas” like greenbelts, swimming pool or a clubhouse, then you most likely live in a standard HOA and should buy an HO-3 or HO-5 “Homeowners Insurance” policy to cover your entire single family home (even if its in a duplex or four-plex).

If I can ever be of any assistance helping you purchase the correct policy with the correct amount of building insurance, please don’t hesitate to contact me by phone at (480) 386-0313 or by email to terry@foothillsinsurance.com



New Hazard Insurance requirements for Master Association Policies

Terry Curtis
Independent Insurance Agent in Arizona


Fannie Mae added the following “Special Endorsements” back in 2013 to their “Condominium Association and Planned Urban Development (PUD) selling guide. This means that your association Master Insurance Policy must now contain these endorsements to qualify with a fast growing number of lenders. (and probably needs to be stated in the “Special Conditions” section of the property certificate to the lenders)

1) Inflation Guard (when it can be obtained)

2) Building Ordinance or Law

3) Boiler and Machine (Equipment Breakdown) If the building insured has central heating and or cooling. The limit must be the lesser of the replacement cost of the building, or $2,000,000.

4) Severability of Insured’ or Separation of Insured’  (This pertains to the general liability policy, not the hazard insurance)

Guidance has also been provided on the amount of Fidelity (also known as “Crime” or “Dishonesty”) the amount required is three times the monthly association income (dues) plus the amount in reserves.


Welcome to my Blog!


Terry Curtis
Independent Insurance Agent in Arizona


Anyone who wishes to contact me right away should email terry@foothillsinsurance.com or call me on my cell at(602) 796-0054. Thank you for visiting my blog. I have just started but I will have new content for you soon.

I will post information helpful to anyone who is trying to understand insurance in Arizona for homeowners, community association, condominiums, townhomes, patio homes and resources for the Homeowners Associations that manage them.  I am a native of Arizona and have been an insurance agent for 18 years. I specialize in insurance for Homeowners Association and I am a member of the Community Association Institute. I also offer insurance servicesfor a wide range of business and personal needs.


Foothills Insurance Agency

Foothills Insurance Agency

2490 S. Gilbert Rd, Ste 105

Chandler, AZ 85286

Main office: 480-696-5005
Fax: 480-759-1690

Office Hours:

Mon: 9:00 AM - 5:00 PM
Tues: 9:00 AM - 5:00 PM
Wed: 9:00 AM - 5:00 PM
Thurs: 9:00 AM - 5:00 PM
Fri: 9:00 AM - 3:00 PM
Sat: By Appointment
Sun: Closed

Our Providers


These guys are AWESOME!!! SInce I have switched my business insurance needs over to them, and I am paying less each month, and I have more coverage. It was nice that they took the time to really make sure I am covered if and when I need it. After shopping around with 4 different brokers, it wasn't a question of who I should choose, but how quickly I could switch. You would be a fool not to give them a call. Also, for business owners, they're very quick at getting my certs out to my customers, and myself.
Mike L.
I have been with Foothills Insurance Agency as a customer and Realtor for over 10 years, and have gotten great information and service all along the way. I highly recommend them, and have done so to over 20 friends, family, and clients!
Andrea J.