Life Insurance | Boizelle Insurance Partnership
When Is It the Right Time to Buy Life Insurance?
A lot of people may be hesitant to purchase a life insurance policy. They may think it’s too expensive. The truth is that a life insurance policy is much cheaper if you buy it when you’re young and healthy because insurance companies consider healthy people far less at risk of dying than someone much older who may also be in poor health.
If You’re Getting Married
Once you get married, you not only have yourself to take care of, but you have someone who, not only loves you, but depends on you to be their partner through life. If one of you dies unexpectedly, a life insurance policy can help with any financial woes or struggles that may occur.
If You’re Planning to or Already Have Children
We all know that having babies costs money. Everything from feeding them to buying diapers for them, to paying for child care, those expenses certainly add up. A life insurance policy can help ease your stress level when it comes to providing for your kids.
To Cover Lost Income
If you die and you left loved ones behind who solely relied on your income, an adequate life insurance policy will help them cover those monthly mortgage and car payments.
Funerals
It’s a sad reality, but a reality nonetheless. Funerals cost money. No one likes to think about having to say their final goodbyes to a loved one. A life insurance policy can help ease the burden of having to pay for a funeral. Although you may be gone, your loved ones can take comfort in knowing they did everything they could in saying their final goodbyes.
Pay Off Debt
Unfortunately, debts don’t just disappear if you die suddenly. If you and your spouse both signed on that dotted line for a mortgage, now that you’re no longer around, your spouse may have to carry the heavy load of the repayment. Another scenario may be creditors coming after your estate. Your loved ones already have to deal with the heartbreak of losing you. Don’t add financial burdens and struggles to that mix.
College Funding
Countless Americans borrow money through student loans in order to pay for college. Did you know a solid life insurance policy can provide an excellent way to supplement your payments? Paying for higher education is definitely a costly endeavor. And life insurance can certainly help! Talk to one of our experienced agents about how a life insurance policy can benefit you!
If You Own A Business or Are a Co-Owner of a Business
If you are a business owner, you’ll want to make sure that your family as well as your employees are protected in the event of your untimely death. Running a business isn’t cheap and requires a lot of different expenses. From office supplies to payroll, a life insurance policy can help those you leave behind.
Estate Taxes
If you’re concerned about your children’s inheritance, a life insurance policy can help protect them from inevitable inheritance taxes they are going to be hit with. A life insurance policy can help cover those costs.
Life Insurance Is More Affordable Than You Might Think
On average, you’ll pay more for your daily cup of coffee than you pay for your life insurance. Still, it’s important to keep in mind that these types of policies tend to become more expensive the longer you wait to purchase one.
Peace of Mind
Although none of us can know what’s going to happen in the future, a life insurance policy can help put your mind at ease, knowing that no matter what happens, your loved ones will be protected.
Call our office at 301-948-2010 to speak with one of our experienced life insurance professionals. They can help you find the coverage that best fits your needs.
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New Year’s Resolutions for 2020
As each new year begins, all of us take some time to reflect. We reflect on our goals, our accomplishments, and how our lives have changed. Perhaps you had a goal to go the gym three times a week. Or maybe, you told yourself you were going to travel more. Whatever the case may be, we all have different goals, different needs, and it’s up to us as individuals to have the discipline and tenacity to stay focused on what we need to do to make our lives better for ourselves and our families.
All of us may have resolutions that we set for ourselves as individuals, but how much thought have you given to creating a better life for your loved ones? Let’s talk about how paying attention to your insurance needs can make your life a whole lot easier and more enjoyable, so that you can live each day with the peace of mind you deserve.
- Take an Inventory – This can seem like a grueling, overwhelming task, but if you organize your thoughts and plan a step-by-step course of action, you may find this process to be therapeutic and, maybe, even fun. Inventories can serve more than one purpose, too. In addition to finding out the value of your possessions like jewelry, an inventory can help you in the case of a disaster that brings on an expensive claim. Knowing the value of your possessions can help you avoid getting the short end of the stick when it comes to reimbursement for your belongings. Also, it’s important to understand that most insurance policies have limits on how much they will pay out for jewelry. Our experienced agents are here to help you!
- Stock Your Car – Don’t forget to put an emergency kit in each one of your vehicles. Good emergency kits will include jumper cables, flares, emergency blankets, a first-aid kit, and other items. Non-perishable snacks like nuts or trail mix are good to keep in your car in case you’re ever left stranded.
- Update Your Life Insurance – Have you made any additions to your family? Perhaps you’ve stopped smoking or your commitment and consistency with going to the gym has made you lose weight. It’s time to update your life insurance policy.
- Make sure you have sufficient limits of liability for your auto policy – If you’re ever involved in an at-fault accident, it’s possible that your current coverages are not adequate enough to cover costs of property damage or possible injuries that either you or other parties sustained. Call us to discuss your limits of liability for your auto insurance.
- Obtain an umbrella policy – If you’re involved in an auto collision and your policy limits are not enough to cover damages, an umbrella policy can kick in to cover the remaining costs. Call us to find out how an umbrella policy can benefit you!
- Decrease your distractions – We know this can be a broad one, but to keep things simple for you, we’re referring to kitchen safety here. It’s important to remain focused when you’re in the kitchen cooking. Hazards are everywhere. Everything from sharp knives to boiling water to having your oven on, try not to take your attention away from the task at hand. Forgetting that your oven is on can not only burn your dinner, but it presents a possible fire hazard that could result in a costly claim.
- Put your phone down while you’re behind the wheel – As we kick off the new “roaring 20’s”, let’s remember that all of us have hopes and dreams and goals we want to accomplish. Let’s all give ourselves and each other the opportunity to pursue those aspirations by getting home safely.
How Insurance Can Protect You Through the Years
They say that the only constant in life is change. And that’s true whether you’re 18, 80 or somewhere in between.
One thing to consider when life changes is your insurance coverage. Here are six common transitions that your Erie Insurance agent can help you navigate.
You’re off to college.
With Erie Insurance, full-time students younger than 24 are automatically covered under their parents’ homeowners policy. Part-time students (or students who are 24 and older) may need to take out a renters insurance policy. If you choose to live in an apartment instead of a dorm, think about purchasing a separate renters insurance policy. (Learn more about renters insurance below.) When it comes to car insurance, you don’t need your own policy if you’re taking a family member’s car to school. If you’re a co-owner on the vehicle or if you own your own car, you probably need your own policy.
You’re renting your first place.
You found the perfect place, but since your landlord’s policy doesn’t typically cover your stuff, you’ll want to look into getting your own renters policy. In addition to protecting your belongings, a renters policy also provides worldwide liability protection for a situation like harming someone while riding your bike. If someone is hurt in your apartment, your policy most likely would pay his or her medical bills. A renters policy will often cover additional living expenses if your apartment is damaged and you can’t stay there because of something like a fire. There are many affordable options—plus, you can qualify for a discount if you purchase both a renters and an auto policy from ERIE. In some cases, the discount can pay for pay for most (or all!) of the renters policy.*
You just got married.
If you’re just starting out, you’ll definitely want to look into life insurance. Life insurance can be the most affordable way to help ensure that you or your new spouse is able to carry on if the unthinkable were to happen. Also remember to ask about your auto insurance. You could qualify for discounts, including a multi-car discount if both cars are insured by ERIE. Finally, you may need extra coverage on an engagement or wedding ring. With an Erie Insurance homeowners or renters policy, your coverage for lost or stolen jewelry is capped at $3,000. So if your ring is worth more, you’ll want to consider separate coverage.
You welcomed a bundle of joy.
You may have binkies, diapers and formula on your mind, but another thing to consider is life insurance protection for your family. Everyone needs financial protection—even a stay-at-home parent. With life insurance, you can provide for your loved ones even if…well, you’re not there.
You retired and are renting a place somewhere warm for the winter.
No penalty for sand between the toes! If you’re going south, an extra policy is not needed in the majority of cases. That said, a lot depends on the policy you already have, how long you’ll be gone and what kinds of things you’ll be taking to your temporary home. For these reasons, it’s a good idea to check in with your agent before you head south.
You or a loved one is entering an assisted living facility.
When it’s time for help with care, it’s a good idea to consider a renters policy if you or a loved one is entering an assisted living facility. A renters policy covers belongings—and, more important, personal liability. For instance, renters insurance could cover your loved one if he or she was responsible for injuring someone.
Many people can’t afford to pay big medical bills out of pocket, so definitely contact your Boizelle Insurance before making the move. Life may change, but one thing that doesn’t is being able to rely on us. You can always turn to us when it comes to making sure you’re protected at every stage of life.
*Individual policies may differ.
Originally by: Amanda Prischak, Erie Insurance
Read more4 Reasons Why You’ll Want to Work With One Insurance Company
There are lots of ways to get insurance coverage these days, but working with one insurance agent and company for your business, home, auto, and life insurance has a lot of advantages. Here are four:
- Fewer worries – You’ve worked hard to build a solid financial foundation, so you’ll want to be sure everything is protected at work and home. Insurance can help protect your life, income, business and help keep a roof over your head.
- Saves time – Working with one company saves time and eliminates hassle because you won’t have to keep track of contracts at multiple companies.
- Helps prevent a gap and overlap – Just one coverage gap could put you, your family or your business at financial risk. Working with an insurance agent, you could reduce coverage gaps and avoid overlaps.
- Saves money – Get coverage for your business and personal life without having to choose between great protection and saving money. When you buy multiple insurance policies with one company, discounts are typically available. For instance, with Erie Insurance, a discount is available if you have a qualifying life or home policy in addition to your auto policy.1
The Licensed insurance agents at Boizelle Insurance have a lot of experience helping people with their insurance needs. We’ll explain what types of coverage are available, answer your questions and can help make sure you have the right coverage at the right price. To get started, contact Boizelle Insurance today.
1ERIE® life insurance products and services are provided by Erie Family Life Insurance Company, a member of Erie Insurance Group, and are not available in New York. See individual policies for specific coverage details. Certain terms and limitations may apply. Refer to our disclaimer for additional information.
Originally by: Carolyn Sennett, Erie Insurance
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