When Should an Adult Purchase Life Insurance?

One of the questions that we are frequently asked in regards to life insurance at Allegiance Insurance Agency, serving the greater Richardson, TX area, is when should an adult purchase life insurance. Generally speaking, every adult should have life insurance that helps to cover their final expenses and keeps the burden off of their family. But here instances when an adult should otherwise purchase a policy if they have not yet done so. 

When They Purchase a Home

If you have purchased a home, you have committed to paying off the home and in turn, carry a large amount of debt. If you pass away, your family may face a tough choice of paying to keep a home that may have sentimental value or getting rid of the home because they cannot afford it. Life insurance can pay for the home, helping your family to keep it should you unexpectedly pass away. 

When They Get Married Or Enter Into a Partnership

If you get married or enter into a partnership, it is always advised that you purchase life insurance if you have not already done so. Your spouse or partner likely depends on you to help pay the bills of complete tasks at home. If you pass away, they may incur financial hardship without life insurance money and you don’t want to put someone you love in this position. 

When They Have Children

When you have kids, you should always purchase a life insurance policy. You want to protect the financial future of your children and having a life insurance policy is the best way to go about doing this. 

If you are looking to purchase your first life insurance policy in the greater Richardson, TX area, contact Allegiance Insurance Agency. We can help you determine how much life insurance you should have and then guide you through the buying process. Contact us today to get started. 

 

Do Barber Shops Need Commercial Insurance

Many barbershops operate under a Business Owner’s Policy. This type of insurance can be of the utmost value. Let’s take a closer look at why barber shops need insurance. 

Commercial insurance tends to come with some form of general liability. It helps protect the shop from certain lawsuits, including those related to injuries taking place on the business’ premises. Take for instance that a client slips and falls due to a slippery floor in the barber shop. Insurance will be of the utmost value in this kind of circumstance. Some commercial insurance policies will even provide coverage if a barber performs house calls and an injury is sustained while performing services of the business’ premises. You will need to speak with a qualified agent to learn more about the specifics of your policy and what it does and does not cover. 

Commerical insurance also helps protect the equipment and supplies that a barbershop owns. From theft to loss of supplies in a fire, commercial insurance usually provides various types of coverage that can apply in a variety of events. Once again, to learn more about the specifics of your commercial insurance for your barber shop, you will need to speak with an agent. Make sure that you ask about commercial insurance covering your business income. For example, if something happens to your shop due to vandalism and you can’t operate for an extended period of time, you will want protection in place for your income to help you get by while your business’ doors are not open. 

To learn more about commercial insurance for barber shops, contact the Allegiance Insurance Agency serving the Richardson, TX area today.