09/24/24

EPB&B Open House raises $50,000 for two Portland non profits

Community Involvement

Last Thursday marked the seventeenth annual Elliott, Powell, Baden, and Baker Industry Open House, raising a record $50,000 for Portland Area non profits, Angels in the Outfield and Michelle’s Love. Traditionally, our open house is held in November to kick off the holiday season. This year however, we took advantage of the beautiful Oregon fall weather and partnered with OMSI, holding our event in their beautiful outdoor arboretum.

Our Industry Open House has a dual purpose: To express our gratitude to our industry professional partners for their collaboration and partnership over the past year, and to raise funds for Portland area nonprofits.

Although the venue was different, our guests still enjoyed their favorite games, fun cuisine including treats from St. Cupcake , Blue Star donuts and Hubers Spanish coffee, along with a silent auction filled with an array of items from vacation getaways to autographed sports memorabilia and creative gift baskets, all in efforts to raise money for this year’s selected recipients: Angels in the Outfield an organization providing hope to children suffering from Abuse and neglect and Michelle’s Love, a nonprofit helping single parents undergoing cancer treatment.

This is all made possible due to the support of this year’s sponsors, who generously stepped in to support our mission of giving back to those in need.

“What started as a small gathering of key insurance company partners and vendors sixteen years ago at our home office has grown to an event that this year raised over $50,000 for two amazing local charities in the OMSI Arboretum., “explains EPB&B President Marc Baker. “From discovering new grassroots nonprofits each year to building a growing sponsorship foundation to having the opportunity to say “thanks” to so many wonderful professional partners, I am grateful for the support that we receive each year and in turn, the financial results that we can pay forward to passionate visionaries working to make the Portland area a better place.”

Thank you to the generosity of this year’s sponsors. Many of these companies show up year after year to support EPB&B and the Baker Family Foundation in our mission of giving her and hope to those in need in our community.

PLATINUM: The ISU Group, Umpqua Bank, Ryan Turner Specialty, First Insurance Funding, Portland Business Journal, ISG, Echelon Protective Services

GOLD SPONSORS: The Standard, Rothertinsurance, Crum & Forster Insurance, Western National Insurance

SILVER SPONSORS: Liberty Mutual, Safeco Insurance, IPFS: Insurance Premium Financing Solutions, NW Preferred. CRC Group: Wholesale & Specialty Insurance, UFG

BRONZE- Paul Davis Restoration, Philadelphia Insurance, Paul Davis Restoration, Mutual of Enumclaw, Oregon Mutual, Travelers Insurance, EMC, Berkley North Pacific, Cincinnati Insurance, Red Sheild Insurance, CHUBB, The Hanover, Compression Air Mecial Services

The Baker Family with Andy Royal McCandless, Founder of Michele’s Love (center Left) and Shannon Kmetic, Founder for Angels in the Outfield (center right).

09/10/24

The importance of having Life Insurance

Uncategorized

Life Insurance

Life is unpredictable. While we often plan for the best, preparing for the unexpected is essential. Life insurance is a vital tool in ensuring that your loved ones are financially protected in the event of your untimely passing. Despite its importance, many people delay or avoid purchasing life insurance due to misconceptions or a reluctance to consider mortality. There are several types of life insurance, and at Elliott, Powell, Baden & Baker, our dedicated team will help customize the right policy for you.

1. Financial Protection for Your Loved Ones

The primary purpose of life insurance is to provide financial protection for your beneficiaries after you’re gone. If you are the primary earner in your household, your death could leave your family struggling to cover daily expenses, mortgage payments, education costs, and other financial obligations. A life insurance policy ensures that your loved ones can maintain their standard of living, even in your absence.

2. Coverage of Final Expenses

Funeral and burial costs can be surprisingly high, often reaching several thousand dollars. Without life insurance, these expenses could fall on your grieving family, adding financial stress to an already difficult time. Life insurance can cover these final expenses, allowing your family to focus on mourning and healing rather than worrying about money.

3. Debt Repayment

Your debts don’t disappear when you pass away. These financial obligations can burden your family, whether it’s a mortgage, car loan, credit card debt, or personal loan. Life insurance can help pay off these debts, ensuring your loved ones aren’t responsible for handling your unpaid bills.

4. Income Replacement

One of the most critical roles of life insurance is to replace lost income. If your family relies on your income for daily expenses, your death could create a significant financial gap. Life insurance can replace your income, help your family cover bills, groceries, and other living costs, and provide financial stability during a challenging time.

5. Securing Your Children’s Future

For parents, ensuring their children’s future is often a top priority. Life insurance can provide the funds needed for your children’s education, whether private schooling or college tuition. By securing a life insurance policy, you can ensure your children have the financial resources they need to achieve their dreams, even if you’re not there to support them.

6. Estate Planning

Life insurance can also play a vital role in estate planning. If you have significant assets, such as property or investments, life insurance can help cover estate taxes, ensuring that your beneficiaries receive the full value of your estate. Additionally, life insurance can provide liquidity, allowing your heirs to manage estate costs without needing to sell off valuable assets.

7. Affordability and Flexibility

Contrary to popular belief, life insurance can be affordable, with various options for different budgets and needs. Term life insurance, for example, provides coverage for a specific period at a lower cost, making it an excellent option for those on a budget. Additionally, many policies offer flexibility, allowing you to adjust your coverage as your life circumstances change.

8. Leaving a Legacy

Beyond protecting your family, life insurance can be a way to leave a lasting legacy. You can name a charity or cause as a beneficiary, ensuring that your values and passions continue to make an impact even after you’re gone. This can be a powerful way to contribute to an important cause, creating a positive legacy beyond your lifetime.

Life insurance is about preparing for the worst and protecting the people you care about most. It provides a financial safety net to help your family navigate the challenging times that follow your passing. By securing life insurance, you’re taking a responsible step towards safeguarding your family’s future, giving them the stability they need to continue and thrive even in your absence.

Don’t wait until it’s too late—consider your life insurance options today and take control of your family’s financial future.

Group life insurance is essential to an employee compensation package, helping you attract and retain a strong workforce. At Elliott, Powell, Baden & Baker we have an expert team dedicated to helping you put together the best plan for your business. Show your employees that you value what matters most to them, their families.

09/04/24

SAIF Corporation declares a $60 million dividend to policy holders in Oregon

Worker's Compensation

EPB&B is pleased to share the following press release from our professional Workers’ Compensation partner, SAIF Corporation. For the past twenty years a member of EPB&B has served on the SAIF agency council and it continues to be our privilege to work with a company that cares about their customers and the health and safety of Oregon workers .

SAIF declares $60 million dividend

SAIF’s board of directors has announced a $60 million dividend for its policyholders today. This continues a 15-year tradition of providing dividends, marking the 27th instance since 1990.

SAIF stands out as one of the few insurance providers in Oregon that consistently returns dividends to its customers. As a not-for-profit company with a public mission to make workers’ compensation coverage available, affordable, and accessible, it’s an important part of our value to policyholders.

“Our commitment to serving our customers with expertise and heart remains unwavering,” said Chip Terhune, president and CEO of SAIF. “After careful consideration of the uncertainty in the current economic landscape and medical trends, we believe offering this dividend to our policyholders is the appropriate thing to do.”

The decision to issue a policyholder dividend is based on various factors, including capital levels, claim trends, and the overall economic conditions.

SAIF’s robust financial health, successful claims management, and effective safety and health services enable us to offer this year’s dividend.

“Beyond dividends, we pride ourselves on our focus on workplace safety and having the largest network of safety professionals of any insurance company in Oregon,” added Terhune. “Our goal is to make Oregon the safest and healthiest place to work, and we value our policyholders’ dedication and partnership to ensuring their workers’ safety.”

This year, 51,288 policyholders will receive the dividend, which will be calculated based on the premium for policies that ended in 2023 and will be distributed in October.

About SAIF

SAIF is Oregon’s not-for-profit workers’ compensation insurance company. For more than 110 years, we’ve been taking care of injured workers, helping people get back to work, and striving to make Oregon the safest and healthiest place to work. For more information, visit the About SAIF page on saif.com.

Contact the team at EPB&B and we will help you find the right Workers’ Compensation plan to fit your business.