Pennsylvania auto insurance requirements are very unique when it comes to the first party benefits portion of the policy. Unlike many other states, Pennsylvania’s first party benefits are the only “not guilty” portion of the coverage that is required by the state’s laws. These insurance applies to you and you household family members, thus the “first party” designation. I will try to explain these coverages in a way that I hope will help guide you toward making a better informed decision on what limits will best cover your family.

Medical expense coverage is required in the amount of $5000 for each automobile you insure on your policy. This coverage is considered primary in Pennsylvania and will pay before any other insurance when you are injured in an automobile accident. You and any of your family members will be covered for up to $5000 in medical expenses each. Pennsylvania auto insurance law requires each company to offer up to $100,000 in medical expense coverage. For clients who do not currently carry major medical insurance I would advise carrying a higher limit of medical expense coverage.

Income loss coverage is not mandatory in Pennsylvania but it is a very affordable coverage. Consider adding this coverage to protect your potential lost salary in the event that you are injured in an automobile accident. I’d like to remind you that this is also a “no fault” coverage which means that irregardless of who is at fault your lost wages will be paid by your insurance policy. Limits up to $100,000 and as low as $5,000 can be added to your policy for very minimal cost.

Funeral benefit and adeath benefits due to accident insurance are both available as add-ons. Neither of these coverages are mandatory but are relatively inexpensive to add. If you think a dollar or two is worth covering yourself and family for these unforeseen expenses, you’ll want to add this coverage.

Extraordinary Medical Expenses is a coverage that was assigned to the insurance companies when the state of Pennsylvania decided its CAT fund could no longer afford to exist. This coverage covers the medical expenses beginning at 100,000 and up to 1,000,000. If you are adding this coverage to your policy you need to be sure that you are carrying $100,000 on the medical expense portion or you will have a huge gap in coverage.

When talking about investment management firms, it is very important to understand profit maximization and wealth maximization. According to the objective of profit maximization, the ultimate goal of a business enterprise is to maximize its profits. All the efforts of the organization are to be directed to achieve this goal. The profit maximization objective is justified, as business is conducted for earning profit. When profit earning is the aim of the business, profit maximization should be the obvious objective. Profitability is an indicator of the efficiency with which the firm is managed. The higher the profit, the better the efficiency. For growth and expansion, profit is the main source of finance. To meet unforeseen contingencies reserves are necessary, which is possible only if there is enough profit.

However, the profit maximization objective is objected to on some grounds. The term profit is vague. It may assume different meaning in different contexts. It may be short-term or long-term. The concept of profit maximization generally ignores the time value of money. All profit gained in different time periods are taken together. The risk involved in any given project and the uncertainty of return are not at all considered. Accounting bias influences profit.

On the other hand, according to the objective of wealth maximization the ultimate goal of a business enterprise is to maximize the wealth of the shareholders, which is represented by the market value of the shares of the firm. Wealth is defined as the net present worth of the firm, i.e., the present value of all future returns.

Though the wealth maximization objective seems superior to the profit maximization objective, it is to be noted that the former is based upon the latter. The market price of shares, which is the indicator of the wealth of the firm, is based on the long-term returns of the firm. The returns that accrue to the investor would be a function of the earnings of the company. Thus it can be said that these objectives are not competing.

BPU Investment Management, Inc. is a full-service investment firm providing comprehensive products, services and solutions to both individual and corporate clients. BPU Investment Management is a federally-registered investment advisor and a FINRA-registered broker/dealer. They pledge to meet with all clients to help them determine their investment needs and a long-term realistic plan for meeting those needs. They understand the financial needs and goals of our clients, and then create a customized financial plan that reflects a realistic balance of risk and reward.

BPU Investment Management practices in four distinct areas:

* Private Wealth Management
* Investment Management
* Full-Service Brokerage
* Investment Fiduciary Consulting

The BPU difference is that they form strategic relationships that foster their clients’ success. BPU’s corporate structure supports their goal of helping their clients reach their goals. If your want to know more about their services or have any questions, visit at http://www.bpuinvestments.com for more detail.