Month: December 2018

Life Insurance in an Era of Expanding Longevity

Posted on by AgentInsure

The world of life insurance has undergone substantial changes over the centuries of its practice, but one recent trend has had truly unexpected effects upon the industry.  This is the expanding lifespan of the modern human being.  People are living longer than they used to, and not just by a little bit. Life expectancy is decades higher for people living today and it was for their grandparents, and the future holds the promise of even greater length of time. This is wonderful news for humanity, but it does leave the art of life insurance. in a bit of a quandary.  After all, life insurance is meant to pay benefits to people who live for a certain amount of time. This time is well defined and predicted by actuarial tables of great specificity.  When that amount of time is increasing, and in many cases by greater than ten percent, then an enormous amount of change moves through the industry. Mid Atlantic Insurance Financial has been using this wonderful fact to create more options for customers in the Laurel, MD area. 

For example, it is now possible to buy a life insurance policy on a 95-year-old individual. 95 years old would have been too late for life insurance policies of previous eras to even mature, but now someone of that advanced age has excellent prospects of living another 10 years and reasonable prospects of living another 20.  The health of the customer has also improved. A 65-year-old in reasonable health can obtain monthly life insurance premiums that would previously have been available only to someone under the age of 45.  These are not extrapolations based on current data; this is the way that things stand at this exact moment. Extrapolations show that human beings might live even longer. Serious medical professionals believe that there are children born today who may live to see the age of a hundred and fifty.  Mid Atlantic Insurance Financial is working hard to secure the economic futures of these and all other citizens of the Laurel, MD area. 

 
 

Does Your Home Repair Style Business Need Commercial Insurance

Posted on by AgentInsure

Businesses that perform services in residential homes often operate out of industrial or residential space with little to no foot traffic from customers. This includes businesses like home repair, HVAC, plumbing, and carpet cleaning. Almost all custom contact happens at the customer’s resident or place of business. If a business doesn’t have customers walking onto its property then they have one less category of liability to worry about. So how does this situation affect a business’s insurance needs?

How Commercial Insurance Protects Non-Retail Businesses

Even if a business doesn’t have a retail location, commercial insurance is still necessary, especially when a business’s main focus is performing work on people’s homes. Mid Atlantic Insurance Financial serving Laurel, MD understands the needs of non-retail service businesses. Commercial insurance protects against claims of damage, negligence, or shoddy workmanship.

A home repair and construction business can be held responsible for any damage done while repairs or build-outs are taking place. A business owner may face a situation where a small repair ended in a burst pipe or damaged drywall. The business performing the work is liable for plumbing or other repairs that the business does not or cannot perform itself.

Working on someone’s home opens up the service provider to a potentially costly and emotional claim. People care a great deal about their homes. Protecting the customer’s home should be the goal of all businesses that perform home-related services.

Commercial insurance protects a business against things like:
– Damage to a customer’s property
– An injury caused to a customer or guest by the presence of performance of work.
– Claims of poor or shoddy workmanship
– Claims of injury due to chemicals in products used in performing work.

Businesses in Laurel, MD who want to protect their assets, equipment, capital, and property have found the right insurance for their type of business with Mid Atlantic Insurance Financial. Contact us today to discuss how we can save you money and protect your business.