New Medicare cards are on the way May 18, 2017 by Andrew Johnson Consumer Education Specialist, FTC Changes are coming to your Medicare card. By
It is needless to say that you seek security in your life. Obviously, you want to live a life surrounded by your loved ones, forgetting
Are you thinking of getting a new car? Or maybe thinking that a policy will be enough to help you drive without any worries? If
Keep your assets totally covered by opting for the best insurance policy in OH.
Being covered by insurance is of paramount importance as you get to protect your assets as well as your life by opting for the right insurance company. Although receiving a hefty compensation will not help to make good the loss always, it will still assist you in paying for repairs or replacement of your prized possession that had been damaged.
It is therefore imperative to opt for the best business insurance in Bryan and Montpelier, OH, if you are thinking of becoming an entrepreneur soon. Sure, owning a car for company purposes is important as well and you would be required to take out an insurance policy as per the law of the land. No worries about being cheated though especially when you have the option of contacting the top company for car insurance in Waterville and Wauseon, OH.
While you do not have to worry unduly about your car until it is involved in a mishap, the same cannot be true of your business unfortunately. There are too many factors that can cause you a definitive set up and you end up losing a lot of money along with the goodwill. It makes immense sense to approach an insurance company or contact an agent to learn about the best insurance policy for your business. Here are the top reasons not to shun it. Take a look and do accordingly. Good Luck!
Law– According to the ‘Small Business Administration’ agency of USA, every business with employees needs several insurance policies for its workers. Failing to do so would not only result in a hefty fine but you could have to face both civil and criminal charges along with the possibility of being ineligible to bid for public contracts. The resultant penalties together would be much more than the amount you have to pay for buying an insurance policy.
Natural Disaster– Why should you take a chance of seeing your business wiped out due to an earthquake or devastating floods? True, they are not frequent occurrences but you can never predict your future. It is advisable therefore to keep your business protected via a BOP (Business Owner’s Protection) plan. The insurance company not only pays you the amount for property loss but also compensates you for ‘loss of income.’ The expenses related to your business operations are also covered by BOP.
Employee Protection– You not only end up protecting your business from loss caused by damage but also get to help your employees who depend on you. True, you need to buy the worker’s comp for them but helping them to survive by means of an additional disability cover will not only protect your employees during times of need, you can also save yourself from damaging lawsuits and penalties in future.
Safeguards Your Business– As a sole proprietor of a business, you are expected to keep it up and running for long. However, you may fall ill or be involved in an accident allowing your business to be in operational all of a sudden. Fret not, buying coverage for the ‘loss of income’ will keep you protected and you are assured of the required funds should you wish to buy off your interests according to the buy-sell agreement.
The amount of coverage required differs from person to person. Therefore, it is important to consider the specific needs when buying life insurance in Archbold OH. In this article we discuss how consumers can determine how much life insurance coverage they require.
Investing in life insurance is must, even if you have a single person who depends on you. But studies show that ownership of life insurance policies is at the lowest level. In fact, one in four consumers have no life insurance policy. The truth is that no one can definitely give you an answer regarding how much life insurance you must carry. It depends upon specific individuals and their situations.
So in order to determine how much insurance you need, you need to first ask yourself whether you need life insurance or not. Life insurance in Archbold OH isn’t a necessity for people who do not have dependents or those who have enough assets to cover the debts once they are gone. Life insurance is a must for people who have dependents and who do not have enough assets to cover the expenses after their death.
Next you need to determine, what kind of life insurance you need to invest in. There are a number of life insurance policies and each one of them provides a specific type of coverage. So determine whether you need to invest in a term insurance, whole life or universal life insurance.
Only once you have answers to the above insurance, you should start determining the amount of life insurance that you need. In order to determine the right amount, here are three factors that you need to consider:
Consider your family’s needs
Determine the number of dependents and how much money you need to run the family. Consider the outstanding debts, the unpaid medical bills as well as the funeral costs to determine how much money would be enough for your family to sustain after your death.
Life insurance provides you coverage for everything including medical costs, mortgage payments, funeral costs, etc. So it is a must to consider everything.
Determine Your Future Financial Obligations
This is one of the most important considerations. In order to evaluate how much life insurance would be enough for you, you need to consider your family’s cash-flow needs and financial goals. Consider the education costs of your children, the medical costs of your ailing parents, pending tuition bills, future costs such as wedding costs, etc. Add it up all to know how much money would be enough for your family.
Consider Your Assets
Finally, consider your assets and how much coverage will they offer. For instance, consider your spouse’s income, your long and short term savings, emergency reserves, Social Security survivor benefits and everything else. Deduct this amount from your family’s financial needs and you will get the exact amount that your family would require to sustain after your death. It is recommended that you get a coverage that is more than what you determine to make sure there is some room for extra expenses.
Remember, the life insurance requirements differ from person to person, so it is best to discuss about your specific needs with your insurance agency in Defiance OH and determine how much coverage would be enough for your family.