Listen to Your Mother’s Advice

You likely understand the importance of safe driving and the corresponding fundamentals.  They’ve been reinforced through ads, special service announcements, and specific education throughout your driving career.  You don’t even have to be a driver to be aware of safe driving fundamentals.  But, outside of the toddler zone, one rarely gets any advice on being a safe pedestrian.  Remember when your mother told you, hounded you, to look both ways before crossing the street?  Well perhaps that advice is worth hanging onto for life.

During the years 2003 through 2012, approximately 47,025 pedestrians died while walking on our streets. That’s more than 16 times the number of Americans who died in natural disasters during the same time period. [1] Concurrently, 676,000 people were injured as a result from being struck by a vehicle.[2]  In fact, during 2012, people on foot represented nearly 15% of all traffic fatalities.

The Pedestrian Danger Index (PDI) measures the rate of pedestrian deaths relative to the number of people who walk to work in the region.  The index was first developed in the 1990s by the Surface Transportation Policy Partnership and used more recently by Transportation for America. [3]

The national average PDI is 52.2.  That equates to approximately 1.56 deaths per 100,000 people.  Following are the 10 most dangerous areas for pedestrians based on PDI:

            Metro Area                                                                PDI

10.       Charlotte-Gastonia-Concord, NC-SC                     111.74
9.         Phoenix-Mesa-Scottsdale,  AZ                                118.64
8.         Atlanta-Sandy Springs-Marietta, GA                     119.35
7.         Houston-Sugarland-Baytown, TX                          119.64
6.         Birmingham-Hoover, AL                                          125.60
5.         Memphis, TN-MS-AR                                               131.26
4.         Miami-Ft. Lauderdale-Pompano Beach, FL          145.33
3.         Jacksonville, FL                                                          182.71
2.         Tampa-St.Pete-Clearwater, FL                                190.13
1.         Orlando, Kissimmee, FL                                           244.28

Noting that Orlando has an index that is 4 times higher than the national average indicates that our pedestrian thoroughfares can be better engineered to coexist with our roadways, especially in areas of growth and where aging populations flourish.  However, based upon the lack of public funds for infrastructure improvements and other services, it’s probably best to pay closer attention to what your mother told you many years ago…”Look Both Ways!”  It very well could save your life.

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[1] According to data available from the National Weather Service and the U.S. Geological Survey. See

www.nws.noaa.gov/om/hazstats/resources/weather_fatalities.pdf and

earthquake.usgs.gov/earthquakes/states/us_deaths.php

[2] National Highway Traffic Safety Administration. General Estimates System. Available at www.nhtsa.gov.

[3] Smart Growth America Dangerous By Design 2014.

Another Way to Look at Financial Protection

Imagine you’re on a routine visit to your doctor when you receive some information from a test that changes your life in an instant.  The doctor has to sit you down and calm you prior to delivering the news of your critical illness.  While you process the information, your thoughts are consumed by your will to survive.  You start to think about how you will respond and beat the illness.  Suddenly, however, you begin to identify with how your illness will affect the other people who you hold dear to your heart.  Your own survival instinct is now haunted by the reality of the real world economics of survival.

Hopefully, you won’t have that experience, however, statistically, odds are that you or someone close to you will have a moment like the one illustrated above.  When that moment occurs, it can be a calming emotion to know that you are prepared for the economic ramifications of surviving.

Most people have thought about life insurance and actually own some. That’s a great idea, as it can be a great way to protect an estate, pay final expenses and even pass on some wealth to those who still need your financial support.  But let’s not jump to conclusions quite yet, as most critical illnesses do not end with a sudden death.  Modern medicine and sophisticated methods have allowed us to live many years during and after treatment for a critical illness such as cancer or a heart attack and most life policies only pay if you die.  Also, many working people have disability insurance, which replaces a portion of their paycheck after an elimination period that can be as long as three months.  Both life and disability insurance policies are effective methods of protecting against the financial pitfalls of our inevitable humanity.  But there is one more highly effective tool that you should consider to hedge your bet against the odds of financial breakdown as a result of a diagnosis and that tool is critical illness and/or accident insurance.

Critical illness insurance has been around for quite some time; however, many people do not take advantage of the inexpensive premiums to protect against the ancillary costs of the treatment.  Losses of wages, deductibles and out of pocket expenses are just a few of the issues creating your need for cash.  In fact, a Harvard study found that 86% of individuals who filed for bankruptcy did so because of out of pocket medical related costs.  And 70% of those people had major medical coverage[1]. 

Critical illness and accident insurance products can be inexpensive and typically pay a lump sum upon diagnosis of a qualified illness or accident.  The extra cash can be used to pay expenses that are not paid by major medical coverage, including putting food on the table.  Quite frankly, it might be the most important hedge against financial breakdown after an illness or accident beyond having major medical coverage.  Your savings account and other investments won’t have to be drawn down as you focus on recovery.  While many identify with the title of the coverage, we’d like to suggest that critical illness and accident insurance be categorized as another form of financial protection.  It’s worth considering before you experience the conversation. Hipskind Seyfarth Risk Solutions is your solution to all of your insurance needs – personal or business.

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[1] Avg. bankruptcy filed was approximately $13,000