brww3916-ikjxij8xx9ld6xnx

Life Insurance for Older Adults

Wed, 25 Mar 2020 13:49:33 GMT

If you are an older adult, your life insurance needs have likely changed. You will not have the same life situations that you had when you were younger. As a result, you may no longer need certain types of insurance. Here is more information about why your life insurance needs change and how different policies work for older adults.

Reasons Why Your Life Insurance Needs Change

Chances are that when you were younger, you focused on protection for your family as well as a return on your investment. Now that you are older, your focus may be more on your final expenses or on benefits you can use now. Here are some examples of how your life insurance needs could have changed.

You No Longer Have Large Debts

You may have purchased a policy in the past that covered all your major debts such as loans and your mortgage. Now that you no longer have these debts, or you have a lot less debt, you don't need as big of benefit as you did before.

You Have Enough Money Saved for Funeral Expenses

One reason why many people buy insurance is that they would like to have enough to cover their funeral costs when they die. That way, their family does not have to shoulder the burden. If you already have savings, or you have brokered coverage with a funeral home for your final expenses, then you may not need a policy with a big benefit.

You Don't Have Dependents

If you don't have anyone who would suffer financially if you died, then you may not need a large death benefit. You may wish to opt for an insurance that has cash value or offers a living benefit instead.

Ways Certain Policies Are Different For Seniors

If you currently don't have any insurance, then you may want to carefully consider the main types of insurance policies. Some policies are made with younger people in mind. Here are examples of the three main policy categories and their pros and cons for older adults.

Whole Life

Whole life is insurance that covers you for life as long as you pay your premiums. You build cash value that you can borrow from. However, if you are older, you may not have time to build enough cash value to make this type of insurance truly beneficial to you. While whole life still offers a death benefit no matter when you die, your beneficiaries are unlikely to receive the full cash value.

Universal Life

Universal life insurance is a type of policy that has a death benefits as well. Some policies pay you a living benefit or cash value. Certain policies build cash value based on the performance of your investment choices rather than on the number of years you invested. You could build cash value quickly if you make the right choices. This is important if you are older and don't have 20 or 30 years to build up your benefits.

Term Life

Term life insurance refers to insurance with a limited time frame, such as 10 years. These policies usually have no cash benefit, but could have a living benefit. When you are close to paying off all of your major debt, you may want to choose an annual or semi-annual term rather than a long-term policy. However, each time you buy a new policy, you risk a higher premium payment.

Some policies have an upper age limit for new purchasers or drop policies when people reach a certain age. Therefore, when you look for a new policy, think about the costs versus how long you pay into the system and see if it is the right choice for you.

People of all ages can find a policy that meets their current needs and accommodate any changes. American Quality Assurance Group can discuss different policies and terms with you so that you can find the right policy for you. Call us or visit our website for a quick and free insurance quote.

Who to Choose as a Life Insurance Beneficiary

Thu, 23 Jan 2020 15:24:40 GMT

Your life insurance beneficiary is the person who will receive the payout. This is often a spouse, parent, or child, but the decision isn't a simple one. Everyone must choose a responsible person as their beneficiary and another to have as a backup in case of unforeseen events. Here are some suggestions to help you make this decision.

Select the Leader

If the end were to arrive today, who would handle your funeral arrangements? Usually, unmarried adults will have parents, grandparents, or siblings that would take the lead. The person in the family most likely to direct everything and make the difficult decisions is a good choice for a beneficiary.

Your family may not have any involvement in your life. The choice in these circumstances could be a close friend or a long-time romantic partner. Any adult can become a beneficiary on a life insurance policy without changing a will. However, listing an unrelated loved one on a life insurance policy will not give them any other legal rights.

Remember a Pet

Single individuals without human heirs, or with heirs that will already receive an inheritance, may want to leave behind something for a furry friend that was a loyal companion. Pets cannot cash checks, so you need to make alternative arrangements. A pet trust is a legally binding financial arrangement. List a reliable human as the future caretaker of the pet and the trust.

Remember to choose what will happens with the rest of the trust once your pet passes away. You can leave the balance to the caretaker or request it go to a charity or other destination. Always discuss the situation with the person chosen to make certain they will take on the role.

Choose Several Recipients

You may be lucky enough to have multiple people that play an important role in your life. Thankfully, you can have more than one primary beneficiary on a life insurance policy. The policy setup can also include a per stirpes agreement that shares the money equally between all beneficiaries. If one passes away before you, their descendants would get their share.

Give to Charity

People that support a specific charity during their life may want to give one last gift. It is acceptable to list charitable organizations as beneficiaries. Contact the charity to make certain the gift is one they are happy to accept and to verify they are a 501(c) (3) organization. Charities need this designation to avoid federal income tax on the insurance payment.

Make certain to have a contingent or backup beneficiary in case the charity no longer exists or accepts this contribution when you pass away. Another option is to select multiple charities as primary beneficiaries. In this scenario, if one charity closes, the rest split the proceeds from the life insurance.

Name Your Estate

You can leave your life insurance proceeds to your estate. After death, the funds will go into the probate process with all other assets and become divided among any heirs or other relatives. This is not usually the best choice because it can cause the money to become vulnerable to taxes and creditors.

The option works if you lack anyone you want to choose as a beneficiary, but you still need life insurance to avoid leaving parents or others with the responsibility of paying your final expenses. It also enables you to have a policy and to build value in it. A change in the beneficiary can take place later on after marriage or children arrive.

Life insurance policies can seem complex, but the time spent learning more will always become worthwhile. At American Quality Assurance Group , we can explain your options, like who can become a beneficiary, and help you make the right choices based on your needs. Contact us today for an appointment.

Starting a Florida-Based Construction Business? Learn About Surety Bonds

Wed, 20 Nov 2019 15:34:13 GMT

Surety bonds are a guarantee that both parties in a business agreement have protection if one party does not meet their obligations. Contractors use bonds to instill confidence in their customers. State and local laws often require construction companies to have specific bonds before they can bid on jobs or begin projects. Here is some more information about surety bonds and why they are a good idea.

Prove Financial Solvency

Some construction companies must purchase a surety bond before they can receive a business license in Florida. The Florida Construction Industry Licensing Board provides an option of purchasing a surety bond for anyone with a FICO credit score below 660 as a way to prove financial solvency. A surety bond proves that the contractor is financially solvent.

A surety bond is like a letter of credit from a financial institution but is often cheaper to get. Bonds do not affect the amount of credit available to the business. Startup contractors may find the difference in credit availability and cost important if they have limited credit and want to preserve it for tools and materials or other business needs.

Guarantee the Performance

Another bond requirement is for contractors working on public projects. Contractors must have a performance bond before they can work on a project for a state or local government entity. The restriction applies to contracts over $100,000 . The government entity in control of the project may also exempt contractors when the contract is between $100,000 and $200,000.

A performance bond is a guarantee that the work will match what the contract promised. A customer may use the bond to receive compensation if a difference occurs between the finished product and the contract. The company issuing the performance bond may also hire someone to come in and finish incomplete work.

Most clients that require performance bonds will want the bond submitted along with the bid. The job description should also list any other bonds needed and when to submit them. After a client accepts a bid, the contractor will secure the other required bonds. Always discuss the fees for additional bonds with a surety company to factor their cost into the bid.

Promise of Payment

The Federal Miller Act, the same law that requires contractors to have a performance bond for public contracts over $100,000, also requires a payment bond for the same projects. A payment bond protects laborers, suppliers, and subcontractors involved in the project under the construction company. The bond ensures each entity receives its payment.

The payment bond protects the government project. Unpaid laborers and others can place construction liens on projects when they do not receive payment for their work or materials. Construction companies may need to present a payment bond to the customer with their bid, or the client may request it after the acceptance of the bid and before the work begins.

Reassurance of Quality

A surety bond to consider, or one that clients may request, is a maintenance bond. The protection under this bond guarantees the quality of the materials, the work performed, and the design for a specific amount of time. The bond is a guarantee of repairs or replacements if problems arise because of incorrectly performed work or faulty materials.

If problems with the project begin after the time specified with the bond, the maintenance bond will not apply. The client can still expect the contractor to repair the problem or replace faulty materials. So, despite the bond acting as insurance for the contractor for a certain amount of time, it is still necessary to have commercial insurance protection.

Florida contractors have many opportunities for growth, but every contract comes with risks. Business owners must invest in bonds and insurance to keep their livelihood secure. At American Quality Assurance Group , we offer surety bonds, commercial insurance, and personal insurance policies to help protect everything important to you. Contact us to learn more.

Basic Life Insurance Terms Everyone Needs to Know

Fri, 20 Sep 2019 15:53:45 GMT

Life insurance is not required by law, however, it is incredibly important. Although an estimated 84 percent of Americans believe most people need it, only 59 percent of Americans actually have life insurance. The reasons for not having life insurance vary from person to person, but a lack of understanding may be the main reason.

This guide will educate you on a few basic life insurance terms everyone should know when securing coverage.

Policy Owner/Insured/Beneficiary

Most people confuse the policy owner with the insured individual and beneficiary, but in reality, they can all be different people.

The policy owner is the individual who has the rights to the policy, meaning they make the major decisions. The policy owner can designate a beneficiary, transfer ownership of the policy, surrender the policy, and (in most cases) is responsible for paying for the policy.

The insured is the person who is insured by the insurance company. When the insured passes away, the insurance company pays out the death benefit to the beneficiary.

It is possible to be both the policy owner and the insured. For example, you may have purchased a policy on yourself and then designated a beneficiary. It's also possible for the policy owner to not be the insured, such as a parent purchasing the policy for their child or spouse.

Whole/Term Life

Other terms that seem to confuse people refer to the type of insurance policies. Whole and term are the most common policy options to consider.

As the name suggests, whole life policies insure you for your whole life. They are also known as permanent life insurance.

Even though they are more expensive than term policies with the same factors, whole life policies accumulate cash value over time, making them a good investment. With whole life, you also never have to worry about your premiums increasing because of your age.

Term policies insure you for a specific term, which is usually between 20 and 30 years. This type of insurance does not accumulate cash value, but these policies are more affordable.

At the end of the term, you can usually either renew for a new term, which will have a higher premium cost because of your higher age, or convert to a whole life policy.

Premium/Death Benefit

Finally, you need to understand the differences between a premium and a death benefit. Both involve money but they are two entirely different things.

Life insurance premiums are what you pay to the insurance company to start and maintain coverage. The premium cost is usually based on a few factors including the following:

Age
Health
Policy type
Death benefits
Hobbies/occupation
Riders

The above factors are not the only considerations taken when calculating premium costs though. The way you pay your life insurance premiums can also affect your premium costs. Most people pay the premiums monthly, but certain insurance companies will offer discounts of up to 8 percent if you pay a lump sum premium annually.

The death benefit is the amount of money paid to a beneficiary upon the insured's death. And determining how much of a death benefit you should leave your beneficiary can be complicated.

Make sure the death benefit will be enough to cover the cost of your final expenses, such as any leftover medical bills and funeral/burial/cremation costs. The death benefit can also be enough to cover the cost of paying off your debt and providing your children with the funds to cover educational costs.

For more information on life insurance or for a quote to secure coverage, contact us at American Quality Assurance Group today. We can help you with your insurance needs.

Beyond the Premium: Questions to Ask When Buying Health Insurance

Fri, 23 Aug 2019 16:08:37 GMT

Many people focus on premiums when they purchase a health insurance policy, as the policy's premium is how much must be paid every month to maintain coverage. However, this is far from the only thing you should consider when buying health insurance, though. Here are several other important questions to ask any time you get a new health insurance policy.

How Often Are Routine Checkups Covered?

Routine check-ups are an essential component of preventative care, and federal law requires most health insurance policies fully cover these appointments. As long as you go to an in-network provider and have only a routine checkup, you should have no out-of-pocket expenses.

Insurance policies vary, however, in how often they will fully cover the cost of a checkup. Many policies include an annual appointment in their coverage, but some policies might have a different timeframe.

You should know how often your plan will cover an annual checkup so that you can take full advantage of this benefit without paying anything yourself. As soon as you are eligible for a fully covered appointment, schedule it with your primary care provider and review your general health with them.

What Are the Out-of-Pocket Expenses for Prescriptions?

You have two aspects to consider when looking at how your new health insurance policy treats prescription coverage. Both can greatly influence how much you end up paying for any medications you regularly take.

To start with, policies use a tiered system that dictates how specific medications are covered. Coverage for preferred medications is more generous than what is provided for non-preferred medications. You can obtain a list of what medications are preferred and which ones are non-preferred by talking to the agent who helped you select the policy.

Once you have the list of preferred and non-preferred medications, you can check what tier anything you take regularly is on. If any are not preferred, talk with your doctor about possible alternative medications that your insurer prefers. You may be able to switch to a preferred medication that the policy will cover better.

Next, check whether you pay a copayment or coinsurance. A copayment is a flat fee you pay and will not change with where you fill the prescription. A coinsurance is a percentage-based fee that will vary depending on what the pharmacy charges. If your policy has a coinsurance for medications, search for the most affordable pharmacy in your area.

Are Referrals Required for Specialist Visits?

Some health insurance policies require policyholders to obtain referrals before seeing a specialist, while other policies do not have such a condition. When a referral is needed, the patient's primary care provider usually furnishes it. Also, two reasons exist to find out whether your policy is one that requires a referral prior to seeing a specialist.

First, you should know your policy's referral requirements so that you can get medical attention from a specialist as quickly as possible if needed. If you need advanced care, you will not have to waste time looking at insurance information. You can immediately make the necessary appointment, whether that is directly with a specialist or your primary care provider for a referral.

Second, a policy that requires referrals for specialist appointments will slightly increase your out-ofpocket expenses for this type of care. In addition to the specialist copay, you will also need to pay a copay to first see your primary care provider. The added cost usually is not too much, but you should be aware of and prepared for it.

For help selecting a health insurance policy and reviewing all the pertinent details associated with it, contact American Quality Assurance Group.

Buying Life Insurance: What to Expect

Fri, 28 Jun 2019 16:22:59 GMT

Purchasing life insurance can be a fairly simple and straightforward process, but it's one that most people aren't familiar with. If you're in the market for a life insurance policy, here's what the process of actually selecting and buying a policy is like.

Step 1: Calculate the Amount of Coverage

Before you actually look at life insurance policies, calculate how much protection you'd like from your chosen policy. This will be the death benefit you look for. Death benefits are simply what policies pay if a covered individual passes away.

If you're getting insurance to replace your income, there are a few guidelines you might consider:

Purchase 10 times your annual income
Purchase 10 times your income plus $100,000 per child
Purchase enough to cover debts, future income needs, and any kids' college expenses

In the last formula, debts include the mortgage on your house. The other two formulas assume your loved ones could invest the death benefits and see a 10 percent average annual return, allowing them to withdraw one-tenth of the benefits each year without touching the principal. The S&P 500 has averaged a 8 percent return over the past approximately 60 years.

If you're getting life insurance only to cover some other potential expense, such as your funeral and burial expenses, find out how much the expense will be and get a policy for that amount.

Step 2: Determine the Coverage Duration

After you've calculated how much coverage you want, determine how long you want that coverage for. Some people want life insurance that will last their entire lives, including through retirement. Others want insurance only for while they're raising dependents or saving up for retirement, which could be anywhere from a few years to a few decades.

If you want life insurance that will last throughout your life, you'll want to look at whole or universal life policies. If you want insurance for only a certain duration, you'll want a term policy. These provide coverage for a specific number of years.

Step 3: Provide Basic Information

At this point, you're ready to actually start looking at different policy options. You'll have to provide some basic information both about the policy you want and about yourself. Expect to provide details like your:

Desired death benefit limit and coverage duration
Age and gender
Height and weight
Blood pressure
HIV status

All of your answers will be checked later. Providing truthful information will help ensure your quotes are as accurate as possible.

Step 4: Compare Quoted Policies

Based on your information, you'll receive quotes for different policies. Compare the various quoted coverages and rates, and select the life insurance policy that best meets your needs. You'll purchase the policy at this point, including paying the first month's premium.

Step 5: Go Through a Medical Exam

Most insurance companies will have you go through a medical exam after you sign up for one of their policies. The purpose of a medical exam is to give the insurance company the most accurate and current information possible.

Although this process may seem daunting, this may be the easiest medical exam you ever have. A qualified professional is normally sent to your home or place of work to complete the exam, and you can schedule it for a convenient time. The exam itself involves little more than taking vital signs, drawing some blood, and answering a few simple questions.

Step 6: Complete the Underwriting Process

After the medical exam, the insurance company will finish the underwriting process. They may have a few more questions for you depending on your situation, but they'll contact you once they are ready.

Once underwriting is complete, your policy is finalized. Your premiums may be adjusted slightly up or down from the initial quote.

To begin the process of finding life insurance , contact American Quality Assurance Group.

5 Tips to Help You Save Money on Car Insurance

Mon, 29 Apr 2019 16:33:03 GMT

Legally, you need a certain amount of car insurance to be on the road, and beyond that, you need to make sure that you have enough coverage to protect your vehicle in the event of an accident. However, if you want ways to keep your premiums down, then check out these money-saving tips.

1. Increase Your Deductible

Your premium refers to the payment you make monthly on your auto insurance, and your deductible is the amount you pay when you make a claim on your insurance. To explain, imagine you cause an accident and you need $3,000 worth of repairs. Your deductible is $500, so you pay that amount and your insurer covers the remainder.

As a general rule of thumb, the higher your deductible is, the lower your premiums will be. However, you need to play with your deductibles carefully. Make sure that you can easily afford whatever amount you select.

If your monthly budget is tight, you may want a low deductible so that you can come up with the money more easily after an accident. You don't want to be in a situation where you can't repair your vehicle because you can't afford the deductible.

2. Consider Adding Safety Features and Services

Safety features such as anti-lock brakes, air bags, and daytime running lights as well as many others can earn you a discount on your premiums. Some insurers even offer discounts for relatively new safety developments such as adaptive cruise control and lane-assist systems.

You may also be able to save by downloading a safe driving app to your phone or enrolling in a service such as OnStar. Talk with your insurer to see where you can earn discounts in your situation.

3. Make Sure You Have Ample Liability

State law dictates the minimum amount of liability coverage you need when you own a vehicle. But, you should know that the mandated minimums may not be enough coverage in certain accidents. If you or someone on your policy causes an accident and the injured party brings a claim against you, your personal assets may be at stake if you don't have enough liability coverage in place.

To protect yourself, you may want to increase your liability coverage. While this step will increase your premiums, it can save you a lot of money in the long run if something ever happens.

4. Be Strategic About Adding Teen Drivers

Increasing liability when you add a teen driver to your policy is especially important because teens have a higher likelihood of causing an accident than other drivers. Whether you increase liability coverage or not, adding a teen to your policy usually drives up your cost, and to save, you need to be strategic.

Before your teen starts driving, talk with your insurer about potential ways to save. Typically, enrolling your teen in driver training courses and encouraging them to keep their grades up can help to save money. If you don't want your teen to be on your policy, you may be able to save money by excluding them, but you need to talk with your insurer about that as well.

However, special rules exist related to exclusions, and if your teen every drove your vehicle without permission, you may end up being personally liable.

5. Review Your Policy Regularly

Annually or more often as desired, go over your policy and make sure the coverage meets your needs. Add additional coverage where you're worried about facing an unforeseen expense after an accident, and remove coverage you don't need.

For instance, if you have multiple vehicles, you may not need rental car coverage to kick in after an accident. If your best friend owns a tow truck and is readily available, you may not need towing coverage.

Finally, also remember to do some comparison shopping and consider bundling various different policies. At American Quality Assurance Group, we offer multiple types of insurance, and we would love to give you a quote. To learn more, contact us today.

3 Guidelines to Follow When Purchasing Your Own Health Insurance

Thu, 28 Feb 2019 16:41:08 GMT

Perhaps your employer-provided insurance is a bad match for your situation, or maybe you're ready to start your own business. Regardless of the underlying factors, you now need to purchase your own health insurance. If you find yourself in this situation, adhere to these guidelines to find a policy that suits your coverage needs without blowing your budget.

1. Look Outside the Exchange for Health Insurance

The Affordable Care Act (ACA) established a health insurance market for individuals to purchase their insurance policies. These markets are different for each state and are also known as health insurance exchanges. It's easy to compare the benefits of and differences between plans on the exchange, and enrollment is fairly simple. You can also apply for subsidies to offset the cost of coverage.

However, you may also buy an off-exchange plan via an insurance agent or broker. Off-exchange plans are a viable alternative for individuals who do not qualify for subsidies or are unhappy with the coverage of the exchange plan options. Make sure that you compare the costs of plans both on and off the exchange to determine how you can get the most benefits for your money.

2. Complete Your Research in a Timely Manner

Another change brought about by the ACA is that you must now purchase your health insurance plan during a designated period known as open enrollment. This period occurs at the end of the year. However, if you experience a qualifying life event, you can buy a health insurance policy at any time of the year.

The most common qualifying life events include:

The loss of your existing healthcare insurance
The addition of a dependent to your family via birth, adoption, or foster care
Marriage or divorce
Relocation to an area with different health plans available on its exchange

Should you experience a qualifying life event, you typically have 60 days to purchase a new policy. Whether you decide to buy insurance during a qualifying life event or during open enrollment, you'll want to start your research as early as possible. This helps ensure that you complete all of your research before the deadline for your enrollment period.

3. Understand the Lingo Before You Compare Plans

Before you start comparing potential plans, make sure that you understand common terminology used to describe the coverage details of health insurance plans. The following are some of the most common terms you'll encounter:

Insurance premium: This is the cost of your policy.
Deductible: This is the dollar amount of specified medical expenses that you have to pay before your coverage kicks in.
Co-payments: This is a stated fee that you pay when you utilize certain medical appointments.
Co-insurance: This is the percentage of your medical expenses that you're financially responsible for.
Out-of-pocket maximum: This is the maximum amount of medical costs that you'll have to pay in a year.

You have to evaluate all of these factors when comparing plans. For example, assume plan A has a monthly premium of $800 per month. It requires a co-payment of $25 for each doctor's appointment and has a deductible of $1,000 for other medical expenses.

Once you hit your deductible, the plan has 90/10 co-insurance. This means that the plan pays for 90 percent of qualified medical expenses while you pay the remaining 10 percent.

Plan B has a monthly premium of $400 per month. It doesn't require co-payments; instead, every medical expenditure counts toward your deductible. However, your deductible is $2,500. After you hit the deductible, the co-insurance is 80/20 (the plan covers 80 percent of expenses and you pay for 20 percent of your expenses).

Generally, plans that have a lower deductible and cover more expenses have a higher annual premium. You'll have to run the numbers for a few different scenarios using your own medical needs to decide if it's worthwhile to pay more for a plan with better coverage.

Are you losing your existing health insurance? Contact American Quality Assurance Group today to speak with an agent.

What Happens to Life Insurance If a Beneficiary Is Deceased?

Tue, 06 Nov 2018 16:47:39 GMT

Are you worried about your life insurance plans? If you're creating a long-term plan for your family's future, you might have some questions regarding life insurance beneficiaries. Life insurance often operates outside of a will; life insurance goes directly to beneficiaries rather than through probate. You need to keep your beneficiaries up to date if you want to ensure that the right people get the money.

What Happens to Life Insurance If a Beneficiary Is Deceased?

Life insurance is setup to address exactly this type of problem. Life insurance policies will ask you about a contingent beneficiary. This contingent beneficiary is the person who will get money if and only if the original beneficiary is deceased. If the original beneficiary is alive, the contingent beneficiary will get nothing.

However, you can set up a life insurance policy however you want, disbursing funds as desired. As an example, you could set up a fund so that your child gets 50% and your spouse gets 50%, with a contingency that your spouse's 50% also revert to your child if your spouse is deceased. This will make it so that your child will get 100% of the funds if you and your spouse have both passed.

Though a will can be contested, it's substantially harder to contest any form of life insurance policy. A life insurance policy isn't an asset you have; it's an insurance payout. This underscores the need to modify your beneficiaries regularly because if you aren't adding new children or new partners to your policy, they may not get anything.

It should also be noted that the exact timing of death may be necessary to determine. Consider two spouses who die in a car accident. If one spouse has a life insurance policy and died first, their life insurance policy might technically payout to the other spouse directly upon death.

It is then the other spouse's estate that is going to control where the money finally ends up, rather than the first spouse's life insurance policy. This further underscores the need for families to discuss their planning together.

What If Your Contingent Beneficiary Is Deceased (Or There Isn't One)?

If a beneficiary dies and there are co-beneficiaries (but there are no contingent beneficiaries) then the co-beneficiaries will split up the life insurance policy equally. Consider a scenario in which you left 25% to your sister, 25% to your brother, and 50% to your partner. If your sister passes on before you (and you do not update your life insurance policy), your brother and your partner will get 12.5% each in addition to the rest.

Some life insurance policies have irrevocable beneficiaries rather than revocable beneficiaries. An irrevocable beneficiary is one who will inherit from the life insurance policy unless they agree to be taken off the policy. In this situation, if they are deceased, the money will likely go into their estate.

If there are no living beneficiaries, however, and the beneficiaries were revocable, the life insurance policy is paid out to the estate itself. It will then be distributed based on the estate. If there is no will in place, the insurance policy is going to be inherited, along with the rest of the assets, based on family relationships.

Life insurance works quite differently from conventional wills. It's worth it to take some time to update and review your insurance policies, in addition to ensuring that you still have the coverage that you and your family may need. For more information and to find out more about setting up your beneficiaries, contact the life insurance experts at American Quality Assurance Group .

Does Car Insurance Cover Damage From a Hurricane?

Fri, 07 Sep 2018 16:54:32 GMT

Hurricanes can cause massive damage. According to the Orlando Sentinel, storm damage in Florida topped 1.5 billion dollars in 2016, and damage to homes made up only a part of that expense. Cars are just as vulnerable, if not more vulnerable, to flood waters when a hurricane strikes. If you're a driver in Florida, know what a hurricane can do to your car and whether or not your car is protected in the event of a storm event.

Flood Waters Can Easily Total Modern Cars

Modern cars contain computers, often multiple computers, that work the vehicle's interior electronics. Often these computers are located in parts of the car that are low to the ground and easy for flood waters to reach. Even a small flood can completely destroy a modern car's ability to function.

Sometimes modern cars that go through floods are repaired by replacing damaged computers. However, these cars often experience chronic electrical problems for years after the original damage occurred. Sometimes these problems are minor (for example, the interior lights on the dashboard don't work properly). Other times, these problems are more serious (for example, the air bag won't deploy when needed).

Even Older Cars Are At Risk

Many people who have older cars without computers assume that their vehicle is safe during a flood. This is not the case. Although older vehicles without computers can often run again after the flood waters recede, serious damage can still occur.

For example, a driver in an older vehicle might attempt to drive from one place to another during a hurricane. If the car begins to hydroplane and runs into another vehicle on the road, both vehicles could sustain serious damage.

No matter what the age of the vehicle, all cars can be seriously damaged by hurricanes.

Not All Car Insurance Policies Cover Damage From Hurricanes

Cars that are protected by the minimum insurance requirements for their state (liability only) are not protected from damage in the event of a flood. Liability insurance only protects the vehicle and occupants that the car happens to hit.

If you're in Florida and would like to protect your car during the next hurricane, several types of insurance could potentially be of use to you. Collision coverage will repair a car that suffers a collision during a hurricane event. Comprehensive coverage may repair the electrical components of a car that is damaged by rising flood waters.

Finally, gap coverage pays the difference between the balance of the car loan and the total value of the vehicle. If your vehicle is relatively new and you are still paying a loan for it, gap insurance will protect your investment.

Not all types of insurance make sense for all cars, so talk to your insurance agent to find out which types of insurance make the most sense for your vehicle.

Insurance Companies Won't Sell Comprehensive Coverage During a Hurricane

In places like Florida, where car owners may choose to wait until the day of a storm to get comprehensive coverage for their vehicle, insurance companies will not insure vehicles in areas under a current storm warning. In other words, if a hurricane is on the horizon, it's too late to upgrade your coverage.

If you don't have collision, comprehensive or gap insurance, talk to your insurance agent before the next big storm warning. If you're thinking about buying a new car, don't do it just before a hurricane hits.

For more information about insurance coverage during hurricanes, talk to your car insurance provider. At American Quality Assurance Group, we're happy to answer any questions that you might have about car insurance. Call us today for more information.

Why Life Insurance Is a Practical Option for Singles

Fri, 06 Jul 2018 17:14:04 GMT

If you are unmarried and have no children, you may think you don't need to invest in life insurance. But being single doesn't mean your death would have no financial impact on others. Therefore, there are several practical reasons why buying life insurance when you are single makes sense.

Lower Rates

Since life insurance gets more expensive the older you get, you save money when you buy a policy when you're young. Life insurance companies generally consider you less of a liability the younger and healthier you are when you buy a policy. Although life insurance premiums are reasonably affordable when you are young and healthy, the rates increase if you have health problems later on.

If you plan to have children one day, life insurance is cheaper when you're younger than if you wait until you become a parent. The younger you are when you take out a policy, the better the rates you'll get. Life insurance companies take your health seriously; therefore, the cheapest rates go to individuals who are in good health - a reason not to postpone buying life insurance until later.

Lower rates for the length of the policy is another perk of buying life insurance when you are young. The same amount of insurance coverage will cost you more as the birthdays accumulate and you become more likely to develop health issues.

Secure Dependents

If you have a child as a single, life insurance becomes especially important. You'll want to make sure that any dependents are financially cared for should you die prematurely. You may even want to have life insurance coverage already in place before you have a child. That way, you'll know you are insurable.

Dependents don't necessarily include only children. If you are a single who is helping to support aging parents who can't make ends meet in retirement or who have serious medical issues, life insurance can provide for them, too.

Maybe you help support a sibling who is disabled or has special needs. What would happen to that person if you suddenly die? It only makes sense to have life insurance if anyone in your life relies on you for financial support.

Life insurance can continue to give any individuals you help support adequate income to live on when they no longer have your working income. Even if your employer offers life insurance as a benefit, the coverage you get may not be adequate. You also will lose the coverage if you leave that employer or get laid off.

Debt Payoffs

Besides seeing to the financial needs of dependents you leave behind, life insurance helps pay for funeral expenses and any debts, including a home mortgage, you owe when you die. With the average cost of a funeral totaling about $7,400, you'll want to make sure the expense is covered. Otherwise, you may be leaving loved ones with a financial burden they can't afford.

Debts don't always die with you. For example, if a friend, parent, or other relative cosigned a student loan, personal loan, auto loan, or mortgage loan for you, that person becomes responsible for repaying the balance of the debt should you die.

Even if you are debt-free, term life insurance costs just a few dollars a month. For a small premium, you'll be entitling a beneficiary to a death benefit that will help pay your end of life expenses, including burial, final income taxes, and other taxes owed.

If you're wondering whether you should include life insurance premiums as part of your household budget, the agents at American Quality Assurance Group can discuss the advantages of a life insurance policy with you. Call us today.

2 Extras That Protect Your From Emergencies on Your Auto Insurance Policy

Tue, 08 May 2018 17:35:17 GMT

One of the best extras to add to your auto insurance policy is roadside assistance coverage. Roadside assistance coverage usually only increases your premium by a few dollars per month, making it one of the most affordable and valuable auto insurance add-ons.

2-Incidents Per Coverage Period

Most roadside assistance programs offered through insurance companies provide you with assistance for at least two incidents per six-month premium period. If you end up needing assistance a third time over a sixmonth period, they are not going to leave you stranded on the side of the road. You'll just have to pay an extra fee for that third incident.

Types of Situations Covered

Roadside assistance programs carry a wide variety of different mechanical situations that you could find yourself in.

To start with, they can help you get into your car if you lock the keys inside. If you leave your lights on and drain your battery, they can come and jump start your vehicle.

If your vehicle breaks down, the first hour of mechanical assistance is usually covered under roadside assistance programs. If battery, oil, gas, or even a spare tire need to be delivered to your vehicle, your roadside assistance program can arrange for the purchase, delivery, and installation of these items.

If your car is not drivable, your roadside assistance program will cover the cost of towing your vehicle to the nearest repair shop.

No matter what happens on the road, you can get assistance with 24-hour roadside coverage from your insurance company.

2. Rental Car Coverage

Another extra that only increases your premium a small amount every month is rental reimbursement coverage or rental car coverage.

You never know when you are going to get into an accident. That is not something that you can control.

If you get into an accident, and your vehicle is damaged, you are left without a vehicle and have to shoulder the responsibility of not only paying your deductible to get your vehicle fixed but the cost of renting a vehicle as well while your vehicle gets fixed. Renting a vehicle can be expensive, and can add up very quickly.

With rental insurance coverage, when you are involved in an accident, your insurance company will cover the cost of your rental. Rental insurance coverage will usually pay a set amount per day for a rental car for you to drive while your vehicle is getting fixed for a set amount of days.

For example, you may be covered for 30 dollars a day up to 30 days. If you want a vehicle that exceeds the per-day amount that your insurance company will cover, you have to pay the portion of the rental fee that exceeds your per-day limit.

If the repair shop has not finished with your car within 30 days, you can work with your insurance company to see if they will extend the rental reimbursement coverage. If your vehicle is still being repaired, and the process is taking longer through no fault of your own, they will generally extend the rental car coverage.

If you just want to keep the rental car for a longer length of time, you'll have to pay the cost of the rental after the thirty days of coverage.

When you renew your auto insurance policy, talk to your insurance agent at American Quality Assurance Group about adding on roadside assistance and rental reimbursement coverage to your policy.

These add-ons will not greatly increase the overall price of your premium but will provide you with extraassistance should you find yourself in an emergency situation and in need of roadside assistance or a rental vehicle.

When You Need to Pay Your Auto Insurance Deducible and When You Don’t Need To

Mon, 12 Mar 2018 17:48:44 GMT

All car insurance policies have deductibles, which are amounts that you must pay before an insurance company will begin paying a claim. Not all accidents require you to pay your policy deductible, though. Here's a look at different kinds of incidents and whether you'd need to pay your deductible if you're in these accidents.

A Non-Accident Event Occurs: You're Paying

Non-accident events, which are incidents that don't involve another moving vehicle, fall within the realm of comprehensive coverage. These events include collisions with deer, falling tree branches, burglaries, and similar incidents.

Assuming your auto policy includes comprehensive coverage, you can expect to pay the coverage's deductible if you damage your car in any incident like these.

Glass Is Broken: You Might Not Be Paying

The one exception to the above guideline is if something breaks your glass during a non-accident event. Some policies have deductible-free coverage for glass. If yours does, you can get broken glass repaired or replaced without paying any deductible. If your policy doesn't include this protection, you'll have to pay your normal comprehensive deductible.

You're At Fault: You're Paying

The damage and injuries sustained in multi-vehicle accidents fall under several different coverages:

Bodily injury liability coverage is for injuries that other people sustain
Property damage liability coverage is for damage that others' property sustains
Collision coverage is for damage sustained by your vehicle
Personal injury protection is for injuries that you and your passengers sustain

The liability coverages that are for injuries and damage you cause to others (who aren't in your car) usually don't have deductibles associated with them, so you won't pay a deductible for any claims that fall under these coverages.

Collision coverage and personal injury protection often do have deductibles. Thus, you'll likely have to pay the deductible for any damage claims you file for your car and any injury claims filed by people inside your vehicle.

No One's At Fault: You're Paying

In no-fault accidents, none of the drivers are involved are deemed to be responsible. As a result, the drivers can't file claims against each others' policies. They must file claims against their own policies for any damage their cars have sustained and for any injuries sustained by people with them.

Should you be in a no-fault accident, expect the deductibles to work similarly to an at-fault accident where you're responsible. You'll have to pay collision and personal injury protection deductibles for any claims against those coverages.

You're Not At Fault: You're Getting Reimbursed

Accidents that were not your fault are frequently the most complicated to handle. The insurance policy of the driver who is responsible will cover your car's damage and your injuries, but getting a payment from the insurer can take time. Often, drivers in these situations end up paying their deductible and then being reimbursed that amount at a later date.

The process in these accidents normally goes as follows:

You pay your deductible, and your insurer covers the cost of car repairs and medical care so that you can get your car back and receive necessary treatment.
Your insurer sorts out which driver is at fault with the insurance company of the other driver.
Your insurer receives a payment from the other driver's insurance company after the other driver has been deemed responsible for the accident.
Your insurer reimburses you the amount of your deductible and keeps the remainder of the payment to cover the costs they've already paid for.

Even though you'll eventually get your deductible back, you'll need enough funds to temporarily cover the cost of your deductible if you're in an accident like this.

Sorting out when you'll pay deductibles can be complicated. If you have a question about your policy's deductibles or would like to shop for an auto insurance policy with different deductibles, contact us at American Quality Assurance Group.

3 Reasons to Invest in Life Insurance for Your Child

Tue, 09 Jan 2018 17:55:11 GMT

For most of the population, investing in life insurance is something people do for themselves. However, as a parent, you also have the option of buying life insurance coverage for your child. Parents often wrestle with the idea of buying life insurance for their child because they are unsure of whether or not this is a smart financial decision.

The truth is that investing in life insurance for your child early in their life brings along a wealth of advantages for both the parents and the child. Here is a closer look at a few good reasons why you should invest in life insurance coverage for your child.

1. Life Insurance Covers the Unthinkable

The death of a child is much rarer than the passing of an adult. However, it is something that you should be financially prepared for as a parent. In the event your child passes away, the primary advantage of life insurance is that it will cover the costs of things like funeral arrangements, burial and other expenses that can be hard to manage through such an emotionally trying event.

Many parents avoid picking up life insurance for their child because they don't want to acknowledge that there is a chance of something happening that takes their child's life away. Yet, investing in life insurance does not have to be a morbid thing. It is beneficial for other financial reasons.

2. Life Insurance Grows with Your Child

One of the greatest advantages of child life insurance is that it will follow your child to adulthood. Once your child becomes an adult, usually at the age of 21, they will already have a life insurance policy to start out with. Therefore, they will not have to seek their own coverage at an age when life insurance may be far from important in their mind.

Even though investing in life insurance is often ignored by 20-somethings, your young adult years is actually one of the best times to invest in life insurance. But if you have already provided a starting policy through the young adult's childhood, they will already have the life insurance they need.

Having a life insurance policy that grows with your child can be especially beneficial if they develop an illness or disease that could be deemed a pre-existing condition if they were to try and get coverage later in life. So the earlier you pick up coverage for your child, the better off they will be.

3. Life Insurance Provides a Financial Platform for the Future

If you opt for a whole-life insurance policy for your child, this is actually a smart investment in their financial future because it usually accumulates cash value. After a policy has been carried for a certain number of years, your adult child may be able to:

Borrow against the policy to buy their first home
Use some of the money to pay for college
Accept an early withdrawal in a financial emergency

Term life insurance policies are shorter in term and do not build cash value, so these policies are less preferable when it comes to coverage for your child. However, if you are only concerned with death benefits and early coverage, a term life insurance policy is a good investment just the same.

In conclusion, whether or not you choose to buy life insurance for your child should be determined by your beliefs about the advantages and whether or not they make sense for you and your child. If you would like more information about whole-life or term life insurance for your child, contact American Quality Assurance Group for further guidance and information.

What to Know Before Buying a Life Insurance Policy

Tue, 14 Nov 2017 18:03:48 GMT

Life insurance is one of the cornerstones of financial planning. Coverage provides your loved ones with financial protection in the event of your death, and your insurance policy will help ensure future financial stability for your surviving family members.

If you're buying life insurance for the first time, here are some of the questions you need to answer.

Do You Need Life Insurance?

The truth is, most Americans can benefit from a life insurance policy. Not only is this insurance affordable, but it's crucial if you have dependents.

Without life insurance, your dependents may have to drastically alter their lifestyles if you die. If you're the breadwinner for your family, they depend on your financial support to meet their expense needs.

When trying to determine whether you need life insurance, consider what would happen if your dependents were suddenly responsible for your final medical bills, funeral costs and other expenses, such as the mortgage for your home and monthly car payments.

What Should the Death Benefit Amount Be?

The amount of life insurance you need varies based on how much your loved ones depend on your income. For example, a $200,000 death benefit amount may only be enough to cover immediate obligations like final medical bills, funeral costs and any debt you left behind.

Before getting life insurance, you need to calculate how much future income will be necessary to sustain your household. For example, a $1 million death benefit amount may be enough if you have a spouse and one child already out of college. On the contrary, if you have a spouse and three young children who plan to go to college, a $1 million death benefit amount likely won't be enough.

What Are Your Surviving Family's Financial Needs?

When determining how much life insurance you need, it's a good idea to do so in two parts. For the first part, calculate immediate obligations. This includes medical bills, mortgage balance, outstanding debts and funeral costs. This is the amount your family will need immediately following your death.

Next calculate the future income your family will need, including college tuition and living expenses. Then add these two amounts together. This figure should give you a good idea of how much money your family will need.

When Should You Choose Term Life?

It's critical to choose the best type of life insurance to fit your needs. Term life insurance provides coverage for a set period and then you're no longer covered. It's a good choice for young families, as it's designed to provide financial protection for your dependents in the event that you die early. You choose the term and the premium remains the same throughout the entire term.

The typical term provides coverage for 10, 20 or 30 years. The goal for term life insurance is to choose a death benefit amount that would replace your income if you were to die unexpectedly. If you earn $100,000 per year and choose a 10-year policy, you may want to choose a $1 million death benefit amount. Keep in mind that this is a generic number. You'll need to calculate your family's specific needs.

When Should You Choose Whole Life?

Whole life insurance covers you for the entire time you're alive unless you surrender the policy. Whole life is designed to provide financial protection for your family regardless of when you die. Unless you have a young family, whole life is usually a better option.

Making sure your family is provided for in the event of your death should be one of your top priorities. Contact our professionals here at American Quality Assurance Group, to speak with one of our agents to find out more about life insurance coverage.

Home Insurance Coverage Against Losses From Hurricanes

Fri, 15 Sep 2017 18:10:53 GMT

If your home is located in a hurricane-prone area, homeowners insurance covers some of the damage in the event that disaster strikes. But in order to know if you have adequate coverage to repair or replace your home, there are numerous factors to consider.

Rainwater

Although a standard home insurance policy usually covers damage that results from a hurricane's high winds, damage caused by floodwaters isn't covered. For that, you need flood insurance. However, damage from rain may be covered if strong hurricane winds blow off your roof, allowing heavy rain to get into your home, causing damage to ceilings, walls, floors, and personal property.

Rainwater damage may also be covered if hurricane winds hurl debris through a large window or glass doors, allowing rain to enter. Despite having coverage, your insurer will expect you to take measures to prevent more rainwater from getting inside your home and causing even more damage.

Hurricane Deductible

Even if wind damage from a hurricane is a covered peril, it's important to know the details of your policy. While deductibles vary by insurance company and state, some policies include a separate hurricane deductible that may be more than the standard deductible amount on your home insurance policy. When deductibles apply, the amount is deducted from what the insurance company pays you on your claim.

If you live in an area where hurricanes occur, rather than a specified dollar amount, the deductible you pay may be calculated as a percentage of your home's insured value, which can range from 1 to 10 percent . Percentage deductibles are often required in certain regions of the U.S., particularly if your home is located in a high-risk coastal area.

State insurance laws vary, but whether or not you must pay a hurricane deductible when you file a claim depends on whether the damage or loss is due to a named hurricane or tropical storm. If your home insurance policy offers set dollar deductibles, raising the amount of your deductible above the minimum dollar deductible an insurer offers can reduce the cost of your insurance premiums.

Coverage Limits

Coverage limits may also apply. The limit is the maximum amount your insurance company will pay you for a covered loss for which you file a claim. Although you'll pay more for a higher coverage limit, you need to consider how much it would cost to rebuild your home at current construction costs for the area where you live. Home building costs per square foot depend on the size of the home, architectural style, availability of building materials, and labor costs.

Coverage for Damage

Not all standard home insurance policies cover damage or loss caused by hurricanes. But that doesn't necessarily mean your home is unprotected. If your home insurance policy doesn't cover damage or loss related to direct wind damage, you may be able to purchase additional coverage by adding an endorsement to your existing policy.

You may also have coverage for hurricane-related damage or loss under your standard policy depending on how the damage occurred. If damage is caused indirectly by hurricane force winds that lead to another peril for which you have coverage, then your insurance company may pay the claim. For instance, your policy may cover if hurricane winds cause downed power lines or sparking in electrical wires that leads to a home fire, which is a covered peril.

All-Risk Policy

Unlike standard home insurance policies that cover only the perils named in the policy, an all-risk policy provides coverage for any peril that can cause damage unless the policy specifically excludes it. All-risk coverage is more expensive than a named perils policy but may be worth the cost if you live in an area at high risk of hurricane winds. Similar to a named perils policy, some all-risk policies exclude floods and earthquakes for which you need special policies.

For answers to your questions about home insurance, contact the the insurance representatives at American Quality Assurance Group .

Home Insurance: 4 Reasons Why Premiums Can Increase

Thu, 13 Jul 2017 18:18:23 GMT

Home insurance is a necessity for most homeowners. If you have a mortgage, insurance will be mandatory until you own the home free and clear from the mortgage lender. While some of the premium increases are likely to happen over the years, you do have some control over what you pay. Here are four reasons why your home insurance could go up at your next renewal period.

Inflation Adjustments

Your home insurance will provide you with protection if your home were to suffer from a total loss. This includes a house fire and certain natural disasters that can cause the need to completely rebuild your home. The cost of your home insurance is based on how much money it will cost to rebuild your home from scratch, and it accounts for the increased cost of materials due to inflation.

Expect that your insurance provider will gradually increase your home's value each year to account for inflation. While your home may be appraised at one value today, 30 years from now it could be worth a completely different value. If you don’t account for inflation, then you could run into a problem where you don’t have enough money to rebuild your home after a disaster.

Inflation adjustments are a cost increase that is difficult to avoid, but you could ask your home insurance provider for assistance. For instance, your insurance agent could lower how much they value your home, especially if you believe it is a little on the high side.

Swimming Pools

A backyard pool is a large expense for a home that can increase your premiums, mainly due to the cost of the pool itself. A pool is an additional structure that needs insurance in case of damage in a total-loss situation.

The other way a pool increases your home insurance premium is through liability insurance. Consider increasing your existing liability coverage to $500,000 to cover any potential accidents. Adding the additional coverage may only raise your insurance, but the increase will be worth it if an injury happens on your property.

Home Businesses

Your business may be small, but chances are it won't be covered by your basic homeowner's insurance. This can put your career in jeopardy if something bad were to happen to your home.

For example, an online store needs additional protection for inventory, since every product stored in the home is a financial asset that could be lost. A freelance graphic designer will have an expensive computer setup that may not be covered by a basic insurance policy. Any business with clients that visit the home is an added liability due to potential personal injuries, such as a slip and fall during the winter season.

Ask your insurance agent about what additional coverage you need in order to be protected in these situations. You can provide an agent with specific information about your business, and they will offer you a solution for additional protection that you can purchase with an insurance policy.

Home Remodels

Any additional work you do to improve your home will need to be insured. While you may only be finishing a couple hundred square feet of your basement, it is now a finished space that would need to be replaced if damaged. The same can be said of any major home improvement that increases your home's value.

Work with an agent to determine how much these improvements will change your insurance premiums. The increase in your home's value is not always equal to how much you paid for the renovation, especially if you did the job on your own.

American Quality Assurance Group can assist you with any questions regarding increases to your home insurance premiums.

Auto Coverage Option Guide

Tue, 30 May 2017 18:25:17 GMT

Do you ever feel like there are simply too many options when choosing the right auto insurance policy? What do the all the options mean when signing up for a required automotive policy? American Quality Assurance Group created an easy reference guide to assist you when in deciding on the coverage you need for your vehicle.

Comprehensive

The insurance company pays for damage to your automobile that was caused by an event other than a collision, such as vandalism, theft or fire.

Collision

The insurance company pays for damage to your automobile when you get into an accident or collide with an object.

Liability

The insurance company pays for damage to another person from an accident you caused. This type of coverage is mandatory in all states.

Uninsured Motorist

The insurance company protects your from having to pay for an accident caused by a driver that doesn’t have insurance.

Towing

The insurance company provides towing, tire changes, jumpstarts, lockout assistance, or gas and oil delivery. This is often called roadside assistance.

American Quality Assurance Group looks forward to speaking with you today regarding you automobile insurance needs or any other insurance questions you may have. Contact us today to get peace of mind coverage!

Advantages of Commercial Property Insurance

Fri, 24 Mar 2017 18:34:00 GMT

Commercial landlords and property owners have a great opportunity to generate wealth, but the risks involved are also significant when compared to some other investments. One way that many people mitigate this risk is through the procurement of insurance, specifically commercial property insurance.

Disaster Coverage

The basic function of insurance is to protect against known unavoidable risks. In commercial property ownership these risks often take the form of destructive forces, such as fire or flood. Commercial property insurance also tends to cover the costs incurred in the removal of storm debris from your property. It might even offer periods of indemnity should your property become uninhabitable.

Tenant Coverage

Tenant and landlords sometimes exist in harmony, but it's common knowledge that many things can cause tension in this relationship. Insurance can provide coverage in the case that situations need to be addressed in court, as they often do when individuals are injured on a property or tenants maliciously destroy property.

Tax Benefits

Commercial property insurance is attractive even to those who are more interested in the bottom line than they are in protections and assurances. Federal law allows deductions for insurance premiums including, but not limited to, fire insurance and landlord liability insurance.

There are other benefits, and more detailed information is also available. Call American Quality Assurance Group if you're curious to learn more about how commercial property insurance can be beneficial.

The Benefits of Homeowners Insurance

Sat, 28 Jan 2017 18:40:52 GMT

If you’re considering homeowners insurance , then you probably already know that there are at least a few benefits to it. Knowing that it could be beneficial and getting excited about homeowners insurance are two very different things, however. When it comes down to it, though, these benefits are what you need to cross that line into certainty.

Protection

Insurance is all about protection. One of your largest assets is probably your home. Why wouldn’t you want that to be protected? Accidents do happen, and a good policy can cover a lot of those incidents. Of course, you want to make sure to look at your specific policy to make sure that you have the coverage that you need.

Low Cost

If you’ve ever shopped for insurance before, you know that there are some forms of coverage that can have high premiums. Homeowners insurance is one of those policies that is generally cheaper.

Peace of Mind

If you’re like many people, you worry about accidents. You’ve probably heard stories of accidents that have taken away a family’s entire home. Without protection, you’re left to worry. Insurance gives you the peace of mind, so you don’t have to stress.

As a homeowner, having insurance is imperative. If you’re interested in learning more about homeowners insurance, call American Quality Assurance Group.

Five Reasons to Have Life Insurance

Sun, 27 Nov 2016 18:49:05 GMT

It might seem like something you can keep putting off, but you should carry a life insurance policy on yourself to protect your loved ones. Your family depends on you, and there are many reasons why this coverage is important for them should something happen to you.

Life Is Fleeting

You never know when it could be your time. Unfortunately, any number of things could happen to you unexpectedly, so being covered is always a wise decision.

Protects Your Loved Ones

Losing a loved one is bad enough, but having to figure out a way to replace their lost income can make the situation even more difficult. Life insurance can help protect against this financial difficulty.

Protects Your Business

If you own a company, protect your stake in the business. In the event of an untimely passing, the policy can be left to your partners or family to keep the company going.

Increases Your Portfolio

Life insurance is an asset, so you increase your portfolio by holding onto a policy. This helps your credit when you need to purchase a loan or health insurance.

Helps With Burial Expenses

Funeral and burial costs can amount to well over $10,000. An insurance policy can help your family manage these difficult expenses more easily.

These are only five of the many reasons to have life insurance. Protecting your loved ones is always the most important reason. Contact a life insurance agent at American Quality Assurance Group today to discuss your needs.