Tips to Help You Choose Life Insurance
When it comes to life insurance, opinions tend to take precedence over the facts; term life insurance is viewed as affordable, while whole life insurance is considered secure.Unfortunately, like most things in life, the actual situation is somewhat more complex.Discover the truth about whole life insurance and whether or not it is the right move for your portfolio, based on these facts.
Permanent Coverage
Unlike term life insurance, whole life policies are permanent.
Once the initial term is completed, term life coverage might actually become more expensive, whereas whole life tends to become more competitively priced over the long run.
All or Nothing
Whole life insurance offers a death benefit just like term life but also provides additional protection in the form of “cash value.” Unlike a term life policy that pays nothing unless you die, whole life policies allow you to recapture or “cash in” a portion of what you invested over the years.
Additional Savings
Another attractive feature of whole life insurance is the ability to borrow from the policy in the event you need a loan. Because a portion of the money is set aside into a savings account, whole life policies are able to provide additional funds in the event of an emergency or even serious illness.
Bottom Line
Most experts agree, if you are short on cash or need a policy for less than 10 years, term life insurance is typically the most affordable route. For those who require more than 10 years of coverage or are able to invest a larger portion of their income up front, whole life often provides valuable protection over the long term. Ask your agent for a comparative price quote demonstrating the long-term cost as well as the benefit of each policy option; you might be surprised to learn how affordable whole life insurance is when used as a financial planning tool.
Contact M.J.F. to review your current Life InsurancePolicies
866-983-8726 or at mjfinsagencyinc@yahoo.com.
We are licensed in N.Y, N.J., Connecticut.,Florida and Pennsylvania for all lines of business
Thursday, September 3, 2009
Business Continuation Insurance -Keep Your Business Running!
Keep Your Company Running with Business Insurance
One of the most frightening aspects of running your own business is the loss of income should the unexpected happen. Fortunately, small-business owners may be able to reduce the risk of financial hardship by purchasing business income insurance.
Business income insurance helps cover the cost of putting your business back together during a major interruption due to property destruction, interruption of sales or other production issues resulting from a covered loss.
Depending upon your type of business and the level of loss sustained, business income insurance may provide the cash you need to remain in operation or get back on your feet without breaking the bank. Combined with extra expense insurance, it may even be possible to cover both your normal routine operating costs and additional expenses, including investments required to keep your business in the black.
To purchase business income insurance, it’s a good idea to schedule an appointment with your insurance agent. Explain your desired level of coverage, including cash or other liquid reserves that could be used in the event of an emergency. Don’t forget to consider deductibles and other fees that must be paid in the event of a claim; it’s always better to have a little extra cash on hand than too little, especially during uncertain economic times.
Finally, keep in mind that business income insurance provides protection for needs related to the business itself - not individual living expenditures. If you don’t have at least six to twelve months of cash on hand for your personal reserves, be sure to ask your agent about coverage designed to help pay your monthly bills.
One of the most frightening aspects of running your own business is the loss of income should the unexpected happen. Fortunately, small-business owners may be able to reduce the risk of financial hardship by purchasing business income insurance.
Business income insurance helps cover the cost of putting your business back together during a major interruption due to property destruction, interruption of sales or other production issues resulting from a covered loss.
Depending upon your type of business and the level of loss sustained, business income insurance may provide the cash you need to remain in operation or get back on your feet without breaking the bank. Combined with extra expense insurance, it may even be possible to cover both your normal routine operating costs and additional expenses, including investments required to keep your business in the black.
To purchase business income insurance, it’s a good idea to schedule an appointment with your insurance agent. Explain your desired level of coverage, including cash or other liquid reserves that could be used in the event of an emergency. Don’t forget to consider deductibles and other fees that must be paid in the event of a claim; it’s always better to have a little extra cash on hand than too little, especially during uncertain economic times.
Finally, keep in mind that business income insurance provides protection for needs related to the business itself - not individual living expenditures. If you don’t have at least six to twelve months of cash on hand for your personal reserves, be sure to ask your agent about coverage designed to help pay your monthly bills.
Coverage to Protect Your Business on the Rainiest of Days
Accidents happen - so savvy small-business owners plan for the unexpected by purchasing business umbrella insurance.
A business umbrella policy provides additional protection above and beyond the basics.It’s different from a standard business liability policy that protects you up to a given amount.
For example, if your current liability policy provides $1 million of protection but you were successfully sued for more, the umbrella policy would cover the additional amount up to the policy limit.
Business umbrella policies are an excellent way to provide protection against costly lawsuits resulting from a wide variety of potential threats. Those threats can include things such as:
• Driving accidents that result in multiple claims or extensive types of damage• Professional service errors resulting in inadvertent destruction or corruption of data• Unknown defects in workmanship or other errors that result in multiple lawsuits or claims• Other unanticipated events leading to a loss of life, property damage or other injuries
Many factors are involved in deciding on the appropriate level of business umbrella insurance to purchase, including the amount of existing coverage, industry, profitability and personal assets at stake.
Contact Michael at M.J.F. Insurance to discuss options and obtain a quote for various coverage amounts.
Accidents happen - so savvy small-business owners plan for the unexpected by purchasing business umbrella insurance.
A business umbrella policy provides additional protection above and beyond the basics.It’s different from a standard business liability policy that protects you up to a given amount.
For example, if your current liability policy provides $1 million of protection but you were successfully sued for more, the umbrella policy would cover the additional amount up to the policy limit.
Business umbrella policies are an excellent way to provide protection against costly lawsuits resulting from a wide variety of potential threats. Those threats can include things such as:
• Driving accidents that result in multiple claims or extensive types of damage• Professional service errors resulting in inadvertent destruction or corruption of data• Unknown defects in workmanship or other errors that result in multiple lawsuits or claims• Other unanticipated events leading to a loss of life, property damage or other injuries
Many factors are involved in deciding on the appropriate level of business umbrella insurance to purchase, including the amount of existing coverage, industry, profitability and personal assets at stake.
Contact Michael at M.J.F. Insurance to discuss options and obtain a quote for various coverage amounts.
New York & New Jersey Online Defensive Driver Class
M.J.F. unveiled its website for online defensive driver classes in the states of New York and New Jersey on Friday August 28, 2009.
The classes are Department of Motor Vehicle approved. In New York drivers qualify for a reduction of up to 4 points on their licenses and a 10% insurance premium reduction for a total of 3 years. The N.Y. online course is newly approved by the Department of Motor Vehicles.
The New Jersey class qualifies drivers for a mandatory insurance discount which varies by carrier and up to a 2 points removed from your license. You may take this class once every five years.
New Jersey also offers a Mature Driver program online for drivers over the age of 50. This also qualifies for a premium reduction on your auto policy.
You can go to the site for more information: www.mjfdefensivedriver.com
The classes are Department of Motor Vehicle approved. In New York drivers qualify for a reduction of up to 4 points on their licenses and a 10% insurance premium reduction for a total of 3 years. The N.Y. online course is newly approved by the Department of Motor Vehicles.
The New Jersey class qualifies drivers for a mandatory insurance discount which varies by carrier and up to a 2 points removed from your license. You may take this class once every five years.
New Jersey also offers a Mature Driver program online for drivers over the age of 50. This also qualifies for a premium reduction on your auto policy.
You can go to the site for more information: www.mjfdefensivedriver.com
Subscribe to:
Posts (Atom)