Whole life versus term life which is right for me

When it comes to determining which is right for you, whole life versus term life, there are a few questions you need to ask yourself.  If you live in the greater Dallas, TX metro area stopping by the office of State Insurance Solutions can help you to understand what is the best option for you. Both types of life insurance will provide for your beneficiaries in the event of your untimely end. 

Whole life

Whole life is a long term insurance coverage. It can last throughout your entire life. Most policies will earn dividends which add to the value of the policy. If you should ever need to you can borrow from your policy and there may be the option to use the dividend to pay premiums. Whole life is a long term proposition, the premium stays the same for the entire life of the policy and it will cover you no matter how long you live. If you have trouble saving, a whole life policy can provide protection while allowing you to have a nice little nest egg. 

Term Insurance

Term insurance has a term, it may be 10, 20 or 30 years but at the end of that period, your protection will end. When the term ends you may have an option to renew but you won’t earn dividends. Term life insurance offers higher amounts of protections in the years when you need the most coverage. When you have a family you want to make sure that they will be able to continue to maintain their lifestyle if you should pass.  Term life insurance is affordable enough to provide the income necessary. 

Life insurance is not a requirement but for most people, it provides a safety net to their dependants in the event of their passing. State Insurance Solutions in Dallas, TX can help you to understand your options. Give us a call or stop by our office and let our experienced agents answer all your questions. 

Why You Need Commercial Insurance

If you are currently a business owner or you are considering starting or buying a business, now is the time to start thinking about commercial insurance. If you are going to own a business, then you need to make sure that you have it protected. You never know when something may happen but you need to be prepared for it when it does. These are just a few reasons from State Insurance Solutions, serving Dallas, TX, that you need to have commercial insurance. 

  • It is a customizable policy so you get exactly what you need and nothing more. You will not have to waste any of your hard-earned money on a policy that simply does not meet your needs because that is not how a commercial policy is designed. 
  • You want to be ready for anything that comes your way. You never know when there will be an accident or if someone will try to steal from you or burglarize your business. While no one wants this to happen to them, that does not mean that it never does. Having a commercial insurance policy will help you be better prepared for anything that comes your way. 
  • It helps protect you and your employees. If you have employees, you need to have several components of a commercial policy such as workers compensation. You also need to make sure you are protected from your employees if they were to ever attempt to turn on you.

Now that you better understand the value of this insurance, you can feel better about getting it. If you do not have a policy set up yet, please reach out to us here at State Insurance Solutions, serving Dallas, TX, today. We will help to customize the perfect policy for you as well as work with your budget. 

Is Full Coverage For Motorcycles Recommended For Dailly Riders?

Riding a motorcycle requires having special insurance products that are designed to offer the protection riders and others on the road need. People who ride a motorcycle as a primary method of transportation should consider the type and level of coverage they should carry in order to give them peace of mind on the road.

Motorcycle Coverage Options

Anyone who rides a motorcycle daily should consider that they are at a greater risk for accidents and injury than someone who is driving a car. For that reason, it is a good idea to carry full coverage insurance and make sure that there is a high level of comprehensive and collision coverage in addition to liability. In the event the motorcycle is worth more than the maximum amount of insurance coverage, additional insurance may need to be purchased. 

Finding The Right Policy

Not all insurance coverage is the same, which is why it helps to work with a professional, established insurance company with agents who know how their products work and can explain the level of coverage to clients before they make a decision. This will help prevent gaps in coverage a potential loss due to a covered event. Anyone who rides a motorcycle and lives in or around the Rochester MN area should contact Safechoice Insurance Agency for more details about available coverage options.

Don’t ride a motorcycle without the proper amount of insurance coverage. Residents around the Rochester MN area can call or stop by Safechoice Insurance Agency to discover options designed to protect riders while they are out on the open road so they have peace of mind. 

When to Buy Life Insurance

Life insurance is a type of insurance that most people will need at some point in their lives but the question of when they will need it is something that will need to be taken into account. Most people actually do not know when the right time to purchase life insurance is because there are a lot of different life events that can trigger when to purchase. Use these tips from State Insurance Solutions, serving Dallas, TX, to better know when to purchase your life insurance policy. 

  • Once you have children. If you have children, that is a good sign that it is time to get a life insurance policy. It is a good idea to have a little bit more coverage to ensure that they are taken care of if you were to pass prematurely. 
  • If you have debt. Many people do not realize that some debts still need to be paid even after you pass. You should make sure you have enough coverage to pay for these debts, such as student loans and mortgage loans.
  • If you have a spouse that does not work or relies on your income. Once this happens, you need to make sure that they will be taken care of if you were gone. You need to at least make sure that they have enough to get them through until they can figure out the next steps for them to move forward financially. 

Now that you know when you need to get a life insurance policy, if now is the time for you, be sure to reach out to us here at State Insurance Solutions, serving Dallas, TX. We will help you get the right policy based on your needs and will get you a free quote to meet your budget needs. 

How Much Life Insurance is Right?

Investing in life insurance is one of the most important investments you’ll ever make for your family. However, the one big question you probably have is how much life insurance is right? While that is a personal decision the team at STate Insurance Solutions can help you determine the amount of money your family will need. So if you live in the greater Dallas, TX metro area, the insurance provider is here to help. 

Income Times 10

A good starting point for how much life insurance is right is to determine how much your annual income is and multiply it by 10. This will give your family around 10 years worth of money after they have claimed the life insurance policy. Of course, after inflation and some other final expenses, the exact number of years will go down, but this is a good place to begin. 

Cover Current Debts

Beyond your income times 10 you should consider the current debt you have. This includes everything from student loan payments and credit card debt all the way to your home mortgage. Include these amounts with the overall value of your life insurance policy. 

Money For College

Putting money away for your child’s college fund is important as well. A good place to start is $100,000 per child (if you want to save for in-state tuition), or at least double that if you’re considering an out of state school for your child. 

Whether you live in metro Dallas, TX or just have questions about life insurance, State Insurance Solutions is here to help. Selecting the right life insurance policy is critical, as is determining how much you should select. Whatever you decide on, just know you’ll be providing for your family for years after you are gone. 

What is covered by commercial insurance?

If you are a business owner, you will need to make sure that you take all steps necessary to properly protect your business. One of the best ways to do this today is by having a commercial insurance policy. When a Dallas, TX area business invests in a quality commercial insurance policy, they will receive a number of different types of coverage.

Liability Protection

One of the biggest risks that you face as a business owner is at risk of being sued for liability. When you provide a product or service of any kind, there is always a chance that it could lead to injury or illness. Since this could lead to a big loss for a business, it is important that you find ways to hedge against this risk. One of the best ways to do it is by investing in a full commercial insurance policy as it will provide you with liability protection.

Workers Compensation Coverage

Another advantage to having commercial insurance is that you can receive workers compensation coverage. If you have employees that work for you, it is important that they are cared for if they are hurt while working. When you have a commercial insurance policy, the worker’s compensation portion of it will provide you and your employees with coverage in the event they are injured while working.

 

If you have a business in the Dallas, TX area, it is important that you speak with State Insurance Solutions first. When you meet with State Insurance Solutions, you can receive advice as to what your insurance options are. The company can then help get you into a commercial insurance policy that provides you with the protection that you need. 

Family Life Insurance And Key Person Life Insurance

State Insurance Solutions in Arlington, TX, is an independent agency that offers a variety of insurance products.  These products meet the needs of its customers and are an essential part of financial planning. Many people purchase life insurance to pay for funeral expenses, to pay off any liabilities, to fund children’s costs, to replenish the loss of spouse’s income, to settle the ownership of a business and to settle estate taxes.  State Insurance Solutions in Arlington, TX, is an independent agency that offers a variety of insurance products. 

The basic forms of life insurance offered to the average American is Whole Life Insurance, Universal Life and Term Insurance: 
    
1.    Whole Life Insurance or permanent life insurance expires on your death and pays out contracted for death benefits.  Permanent life has a savings benefit 
      and thus has a cash value.

2.   Universal Life Insurance offers flexible premiums, which will give the insured the opportunity of increasing the death benefits by over funding the policy.  Thus, the cash value can be built quicker than whole life, which makes investments more attractive because the investments are tax-deferred.

3.   Term Life Insurance can be purchased for a specific term such as twenty years by a young family with small children. Thus, the policyholder is insured only for a fixed period and parents may want to protect their children for only a fixed period, such as finishing college. 

The businesses Key Person owns his or her policy while it is purchased by the employer. The life insurance is used to protect a business as an incentive to attract and retain a key person who is a highly productive executive so this person would remain loyal to the company. Without this integral person, the company could fail.  This enticement is in the form of an executive benefits package, used to fund retirement and the employee has the authority to choose his or her own investments.  Its primary purpose is the death benefit.  

The agents employed by State Insurance Solutions are experts in life insurance products to protect the family and businesses.  Please call and make an appointment!

 

Good Business Practices Begin Here

For competitive rates, specialized policies, and up-to-date coverage you can depend on contact our agents at State Insurance Solutions.  We have experienced and knowledgeable people with immediate access to multiple national insurance companies who can provide you with the commercial coverage your business property needs. Proudly serving the Arlington, TX communities, we work hard to serve you. The insurance providers we use are well established, nationally known, reliable, and service oriented. Your commercial insurance couldn’t be in better hands. 

Insurance You Can Depend On

Businesses have a broad spectrum of insurance needs and what works for one won’t serve another. This is why we stay well informed on Texas requirements for commercial coverage. It won’t matter what kind of establishment you have, or what services you offer. We help you with:

  • Property Insurance
  • General Liability
  • Professional Liability
  • Worker’s Compensation
  • Transportation Liability
  • Construction Liability
  • Contractors Liability
  • Special Event Coverage
  • Alcohol Liability
  • Umbrella Coverage
  • And more

Our Commitment To You

Here at State Insurance Solutions in Arlington, TX we understand the ins and outs of business and commercial insurance coverage. It might be that you own specialized equipment you want to protect. Maybe you’re worried about the city sidewalk in front of your business. Perhaps you provide sensitive legal or accounting services and worry about client satisfaction. No matter what your business is or what your particular needs might be, we can discuss the many policy options you have available. We’ll go over the services that all the major companies offer and we’ll explain the details that you need help understanding. We can also help you plan ahead for business growth and the challenges which that can bring in coverage for Texas business owners. Contact us today to review your current coverage, consider the future needs of your business, and sign up for excellent coverage you can depend on.

 

How Much Life Insurance Do I Need?

If you are in the market to purchase life insurance, you will need to find out just how much you need to protect your family from financial loss if something should happen to you. The agents at State Insurance Solutions work with residents of Arlington, TX to evaluate their family’s needs and find the right type of life insurance policy that will provide adequate coverage to help them maintain their family’s lifestyle and pay off any outstanding debts.

Maintain Your Family’s Lifestyle

Maintaining your family’s current lifestyle is important. You want to provide them with enough money to maintain their lifestyle for at least two to three years, possibly longer. If your children are grown and living outside of your home, your main goal should be to make sure your spouse is as financially secure as possible. 

Pay Off Your Debts

In addition to maintaining your family’s way of life, you also want to have enough life insurance money to cover any outstanding debts you may owe. Paying off your debts will eliminate most of the stress of trying to maintain a certain type of lifestyle. If the debts are paid off, your family will not have to worry about making any future payments.

If you want to protect your family from financial loss after you pass away, talk to the agents of State Insurance Solutions. They can help the residents of Arlington, TX evaluate their cost of living and fit them with a policy that will meet or exceed those needs if something were to happen to you. Call and schedule an evaluation with one of their agents so you can protect your family!

 

Do the size of your business determine the type of commercial insurance coverage you should buy in Arlington TX?

A business, just like a baby, takes time to grow and each develops at an unprecedented pace. Matter of fact, a company, can take years to at least break even, and the owner has to seek ways to cut costs continually. Despite the challenges entrepreneurs face in the teething stages, some advantages accrue to owners of small businesses in Arlington, TX.

In most states, small businesses have to take up specific insurance covers. However, Texas offers unique insurance solutions, among which is the exemption of small businesses to have special covers. In spite of this, a company should consult a knowledgeable agent to offer advice since you will need information to purchase the right kind of protection as your business changes.

Furthermore, Texas law requires certain types of commercial insurance for businesses operating within the state. While others are optional, some industries warrant them though they may also be necessary for other situations. Therefore, any costs you incur will depend on not just the size of the business you are running, but also the industry under which it falls. As your company expands, your limits of insurance will also increase.

Getting a reliable insurance company to partner with you in your entrepreneurship can be an uphill task. At State Insurance Solutions, we understand your plight and provide insurance coverages for the business. We go a step further to advice you on the cover most suitable, depending on the size of your business.

As an insurance agency serving Arlington, TX residents, we aim to offer the best for our clients. We make serving our customers a priority and provide excellent customer service. You are welcome to visit State Insurance Solutions and learn more about our services. Run your business without fear by letting us protect your investment.