Forward Bank Expands $5,000 Half Court Shot November 15, 2019
More schools and more chances to win! Forward Bank will be holding $5,000 half-court shots at 12 local high school basketball games and 3 hockey games this winter! To support the mission of giving back to the community, half of the overall prize will be given to the school athletic program.
Each fan attending a participating high school basketball game will be eligible to attempt the $5,000 half court shot. The lucky participant will be selected at random from the crowd and will have 2 attempts to make the shot. If successful, the shooter will receive $2,500 and $2,500 will be donated to the athletic program on their behalf. There is no cost to participate.
Those attending the hockey games will have a similar opportunity to make a $5,000 shot on goal. The participant will be randomly selected and have 2 attempts from the center line to pass the puck through a 20” cut out in a banner covering the goal.
Even if the shot is not made, a donation of $250 will be made to the school athletic program.
“Student athletes are adding to their educational experience and will bring many skills to their communities and future employees,” commented Bill Sennholz, President/CEO of Forward Bank. “That’s why it’s so important that we invest in athletic programs in our communities so they can continue to have that opportunity.”
Forward Bank will be at the following basketball/hockey games:*
- Colby Hornets – Thursday, December 5th
- Columbus Dons – Friday, December 13th
- Athens Bluejays – Tuesday, December 17th
- Thorp Cardinals – Friday, December 20th
- Chequamegon Screaming Eagles – Friday, January 3rd
- Phillips Loggers – Tuesday, January 7th
- Stanley-Boyd Orioles – Friday, January 10th
- Chequamegon Screaming Eagles (Hockey)– Tuesday, January 14th
- Owen-Withee Blackhawks – Thursday, January 16th
- Marshfield Tigers – Friday, January 24th
- Marshfield Tigers (Hockey) – Friday, January 31st
- Gilman Pirates – Thursday, February 6th
- Abbotsford Falcons – Friday, February 14th
Please support your local high school athletic programs by attending these games and you could have the opportunity to win $2,500 for yourself and $2,500 for the school!
*Medford basketball and hockey games will be added to schedule at a later date.
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Financial Mistakes to Avoid When Buying a Home November 12, 2019
A home purchase is likely one of the largest financial investments you’ll make in your lifetime. It’s important to get this one right. For the best financial outcomes, avoid the following mistakes.
Taking on too much: You think you’ve found your dream home, but it’s outside your housing budget. So, you try to stretch that budget and simply take out a bigger mortgage. This decision can be disastrous. Taking on more debt than you can afford will leave you struggling to pay utilities and zap any other financial goals. A good rule of thumb is to limit the cost of your house payment (including taxes, insurance and any HOA fees) to 25 percent of your take-home pay.
Skipping the preapproval: Getting preapproved will help you with not taking on too much, as it will provide guidelines for what you can realistically afford. It will also give you a financial advantage when negotiating for a home. Sellers prefer to work with buyers that they know can afford their home, so get preapproved before you shop, so you can submit your pre-approval with any offers. Apply online for pre-approval or visit our Online Mortgage Center for more information.
Skimping on the down payment: The more money you pay up front, the less interest you’ll pay over time. If you save at least 20 percent for a down payment, you can also avoid PMI, which is a fee to cover insurance that protects lenders when a buyer has little equity in the home. And don’t forget to include closing costs and moving expenses as you save up for your purchase.
Going it alone: An experienced agent helps you determine a reasonable price for any home you are considering. They also negotiate the best price for the home. Plus, the seller pays the agent’s commission, so you get all the expertise at no cost to you.
Contact a Mortgage Lender at Forward Bank today!
Buying a Term Life Insurance Policy November 4, 2019
Term life insurance (life insurance that is in effect for a limited period of time instead of your entire life) can sometimes be the right answer. Before covering the why, let’s review how term life insurance works.
Let’s say you have a term life policy for $500,000 with a “term” of 15 years. If you were to die on the last day of the fourteenth year, your beneficiary would receive the policy amount of $500,000. If you were to die two days later, your beneficiary would receive nothing. Why would anyone want a life insurance policy like that? There are some good reasons. Two top the list: it covers your needs, and it’s affordable.
Sometimes, when you buy life insurance, you’re protecting your loved ones from the many unknowns that could negatively affect them if you die prematurely. The policy payout may replace your income, pay off the mortgage and the auto loan, and fund your children’s college education, for example.
Other times, you don’t have such generalized needs. If your spouse works, and your children are in high school, your spouse’s salary may cover the daily expenses if you die. You simply need to ensure that if you die within the next 10 years, there will be enough money to see your children through college.
In that case, a 10-year term life insurance policy might be all you need. In other words, term life insurance is a simple solution for a specified risk.
The other reason people choose term life insurance is that it’s affordable. Because the insurance company is taking on less risk, it can afford to offer you lower premiums. You get the most amount of coverage for the least amount of money up front. And there’s nothing wrong with choosing term insurance because it’s cost-effective. After all, why pay for more than you need?
Contact a Forward Insurance Agent to learn more!
How Telematics Is Transforming Insurance October 22, 2019
Technology is transforming every aspect of our lives, and insurance is no exception. Insurance carriers are tapping into automotive telematics to guide insurance premiums.
What is telematics? This is a form of communications technology that can be used for monitoring a vehicle to determine driving behaviors. Using a combination of GPS, Bluetooth, and mobile devices, insurance companies can review customers’ driving habits and reward safe behaviors with reduced premiums. For example, a telematic device can monitor the times of day drivers are on the road, their mileage, and sudden changes in speed (which indicate rapid accelerations or hard braking).
Insurance companies can use this data to predict driving habits and generate a reasonable premium based on these behaviors. Drivers are typically required to have the device in their vehicle for a set period of time before a premium is established. The premium may also fluctuate as driving changes. As vehicle operators drive more safely, the premium lowers.
Of course, if drivers have poor driving habits, this can cost the policyholder. If the telematics data shows risky behaviors, the premium could go up! However, the knowledge that they are being monitored and the incentive of monetary savings may actually help drivers develop better habits on the road.
Do your operations rely on any commercial vehicles? These safe-driving programs are a growing trend and could provide significant savings on your premiums. To find out more about telematics and how it can help you save money, contact a Forward Insurance agent near you.
Cyber Security for Mobile October 18, 2019
Almost all Americans, regardless of age, are using mobile devices. Often, mobile devices are used for sensitive activities, including banking, online shopping and social networking. Some of these activities require users to provide personal information such as their names, account numbers, addresses, email addresses and passwords. Moreover, apps routinely ask for access to information stored on the device, including location information.
In addition, the use of unsecured, public Wi-Fi hotspots has increased dramatically over the past few years. These networks are accessible on airplanes, in coffee shops, shopping malls and at sporting events. While continued access provides us with more flexibility and convenience to stay connected no matter where we are, it can also make us more susceptible to exposure.
The more we travel and access the Internet on the go, the more risks we face on our mobile devices. No one is exempt from the threat of cyber crime, at home or on the go, but you can follow these simple tips to stay safe online when connecting to the Internet from a mobile device:
- Think Before You Connect. Before you connect to any public Wi-Fi hotspot–like on an airplane or in an airport, hotel, train/bus station or café-be sure to confirm the name of the network and exact login procedures with appropriate staff to ensure that the network is legitimate. Using your mobile network connection is generally more secure than using a public Wi-Fi network.
- Guard Your Mobile Device. In order to prevent theft, unauthorized access and loss of sensitive information, never leave your mobile devices–including any USB or external storage devices–unattended in a public place. While on travel, if you plan on leaving any devices in your hotel room, be sure those items are appropriately secured.
- Keep It Locked. The United States Computer Emergency Readiness Team (US-CERT) recommends locking your device when you are not using it. Even if you only step away for a few minutes, that is enough time for someone to steal or destroy your information. Use strong PINs and passwords to prevent others from accessing your device.
- Update Your Mobile Software. Treat your mobile device like your home or work computer. Keep your operating system software and apps updated, which will improve your device’s ability to defend against malware.
- Only Connect to the Internet if Needed. Disconnect your device from the Internet when you aren’t using it and make sure your device isn’t programmed to automatically connect to Wi-Fi. The likelihood that attackers will target you becomes much higher if your device is always connected.
- Know Your Apps. Be sure to thoroughly review the details and specifications of an application before you download it. Be aware that the app may request that you share your personal information and permissions. Delete any apps that you are not using to increase your security.
SOURCE: Homeland Security – STOP. THINK. CONTENT.