What will I receive on maturity of my life insurance policy in Plano, TX?

If you purchased a cash value life insurance policy in Plano, Texas, that policy can provide you with certain cash benefits while you are still alive. Whole-life and universal-life insurance policies are policies that have a stated maturity date and you may be able to receive a cash payment upon maturity equal to the amount of cash built-up in your policy.

For instance, if you live in Wylie or Allen, Texas and have been lucky enough to make it into your 90’s, you may be very close to reaching the maturity date of your whole-life policy. If you hit the magic number of 100, or whatever the maturity age may be, you are entitled to receive some or all of the cash value in your policy.

If you elect to take this option, you will probably have a tax liability on the proceeds that you receive. Each policy is different and you may also be able to add the amount you have earned up to maturity to your death benefit. Then, when you pass away, your beneficiaries will receive the original death benefit and the additional amount that you attached to it, and pay no income taxes on that distribution.

While it may seem fairly simple and straight-forward on how you should proceed, as your independent agent, we can tell you that it is sometimes a much more complex issue to deal with when approaching the maturity date of your life insurance policy.

The amount of cash value that your policy builds up is theoretically supposed to equal the cost of the policy at maturity. A portion of each premium that you pay goes toward investment and the rest is to pay for your premium to keep the policy in force. As you get older, and the longer you own the policy, the closer you get to maturity. Before you make any decisions on matters regarding life insurance, it always pays to talk to an accountant or financial advisor who can guide you toward making the right decision.

Is Personal Accident Coverage available to persons travelling in the vehicle on a named/unnamed basis in Plano, TX?

There are a lot of different ways that your auto insurance can protect you while your vehicle is being used in Wylie, Texas. One way that it can cover you is by paying for your accident related claims from an car accident. To help you fully understand you personal accident insurance and how it relates to others travelling in your car here are some things that you will want to think through.

Facts About Your Available Named/Unnamed Benefits with Your Car Insurance in Allen, Texas

  • The named persons on your auto insurance are the people that are covered on the auto policy. This means that all the benefits of the policy will extend and cover any injuries or claims made against them.
  • The unnamed people of the policy are those that are riding in the vehicle that are not usually listed on the policy. This may include other insured drivers, friends and extended family. They also will have the same benefits as long as they are in the car at the time of the accident.
  • In Plano, Texas your auto insurance policy will pay out benefits to the limit that is declared on the policy.
  • You can find named,unnamed benefits by applying for an auto insurance policy and by buying the quote that you are given on a quoted basis.

Your car insurance needs to be right for you. If you think that you need to have your auto policy evaluated, then you need to give a call to your independent agent today. As your agent we can help get your policy detailed to the way that it should be. We can also answer any questions that you may have regarding your insurance needs in the Plano, Texas.

Risks of Not Having Business Insurance for a Small Company in Plano, TX

Business owners in Plano, Texas, or the surrounding areas of Wylie and Allen, may discover that having business insurance is an essential part of reducing the risks associated with a small company. Small companies can face a wide range of financial challenges, so it is important to obtain appropriate commercial coverage for the problems that might occur.

Liability

Even a small business can face court cases associated with liability. A client might fall and get injured at the office or a passerby might slip on a wet floor while walking past the building. Even if the injuries are not directly related to the products or services that your company provides, you can still face financial challenges when individuals are injured at your place of work.

Commercial insurance helps protect against the financial strain of a liability case, which can give you peace of mind.

Property Risks

Risks to company property are another key concern that is addressed with appropriate coverage. Just because a company is small, it does not mean that essential property is not at risk. Damage to the property is repaired or replaced without a large financial loss when companies have appropriate coverage.

Unexpected Events

Unexpected events, such as a fire in the office or a natural disaster, can interrupt the function and management of a business. Insurance helps protect against financial losses from business interruption so that the company does not face an unexpected strain when a fire or similar problem occurs.

It is important to protect your business before problems arise. Even a small company can face unexpected challenges in the form of property damage or liability, so it is an essential part of preventing financial strains and running a company. To learn more about protecting your business, contact us to talk to an independent agent today.

Evidence/inventory of contents at my home in Plano, TX, are lost. What do I do?

While not many people in Wylie, Allen or Plano, Texas do it, every independent agent will tell you that it is a good idea to take a full inventory of all of your possessions in case you ever have to file a claim with your home insurance carrier for loss or damage of your contents. It is also very wise to make several copies of the list and keep at least one of those copies in a secure location away from your home.

If some or all of the contents in your home are lost, you will have a much easier time settling a claim with your insurance company if you have pictures and receipts of all the things that you lost. If you did not have a list, or you lost the list showing evidence of the contents that were present in your home, you may have a harder time negotiating a fair settlement for your loss.

All is not lost if you can not prove that you had a television, couch and table destroyed in a fire. You should first report the incident, be it theft or damage from some other covered peril, to your independent agent or insurance company. Once you do that, they will ask you to fill out a proof of loss claim form where you can list everything you lost.

You should try to be as thorough as possible in your description. Instead of saying you lost a TV, it is more helpful to say you lost a 55 inch Panasonic that you bought in December of 2012. If you can get your hands on receipts, that is much stronger evidence than just creating a list from memory. Even if things were destroyed in a fire, you could call your credit card companies or the stores where you bought items and see if they can provide you with some records of your purchase.

Finally, never throw out any of your damaged items until the adjuster has had a chance to visit your home and assess the damage. A waterlogged couch or a smashed glass table is perfect evidence of your loss, even though it is no longer of use.

For more information about how to present your claim to your insurance company, please give us a call and discuss the matter with a helpful independent agent.

Quarterly Installment Payment Options on Auto Insurance Premium in Plano, TX.

Paying an auto insurance premium is not an easy task. Especially if you must pay annually or semi-annually. Some people might find it difficult to pay a huge premium on an annual basis or even twice per year. However, a quarterly payment option might relieve you of the burden of this worry. Installment options might make purchasing a financially viable auto insurance plan less difficult. You don’t have to save too much or live with the fear of spending your entire savings on unexpected circumstances. With the quarterly installment payment option, you can now divide the annual car insurance premium into four easy installments.

A quarterly installment payment option is a flexible option and allows you the time to put aside the money you’ll need to make your premium payments. With this payment option, you’ll make your first payment and then follow up with payments on subsequent due dates payments with the interval of three months based on the effective date of an auto insurance policy. So, if lump sum annual or semi-annual payments are preventing you from auto insurance, quarterly installment payments might be a viable option. You can now insure your car against the risk of accidents without worrying about making huge premium payments.

When you pay quarterly installment payments pay minimum amounts every three months and hence, the entire balance is paid in full on an annual basis. You can call us anytime and we’ll be happy to answer all of your questions about payment options for your auto insurance needs. You’ve worked hard to achieve your financial objectives, and as your independent agent, we offer our services in some of the great cities of Texas, including Allen, Wylie and Plano.