Month: July 2022

What Are The Different Types Of Life Insurance?

Posted on by AgentInsure

There are several different types of life insurance policies available on the market. It can be confusing to figure out which policy is right for you, but this article will help clarify things. We’ll discuss the most common life insurance policies and what they cover.

1. Term Life Insurance

Term life insurance is the most basic and straightforward type of policy. It provides coverage for a period of between five and 30 years. You may die within that period, in which case, your beneficiaries will be the ones that receive a death benefit. If you don’t die during the term, the policy expires, and you (or your beneficiaries) get nothing. However, it does not build up cash value like some of the other types of policies we’ll discuss.

2. Whole Life Insurance

Whole life insurance is the most common permanent life insurance. The best thing about it is that it’ll provide coverage for your whole life. The only thing you have to do is pay your premiums continuously. Whole life insurance has two main components: the death benefit and the cash value.

3. Universal Life Insurance

This is permanent life insurance that offers more flexibility than whole life. With universal life, you can choose how much coverage you need and how much you want to pay in premiums. Universal life also has a cash value component, which grows tax-deferred over time.

4. Variable Life Insurance

This is permanent life insurance that offers the potential for cash value growth. With variable life, your premiums are invested into sub-accounts, which can grow or decline in value depending on the performance of the market.

5. Variable Universal Life Insurance

This permanent life insurance offers death benefit protection and the potential for cash value growth. With variable universal life, you can choose how much coverage you need and how much you want to pay in premiums. Just talk to Mid Atlantic Insurance Financial in Laurel, MD, to make an informed decision.

Conclusion

There are several different types of life insurance policies available on the market. The type of policy you choose should be based on your needs and goals. Be sure to work with a life insurance agent from Mid Atlantic Insurance Financial in Laurel, MD to find the best policy.

I run a small business with no employees. Do I need commercial insurance?

Posted on by AgentInsure

Commercial insurance can be beneficial for all businesses, regardless of size. Commercial insurance could be helpful if you’re concerned about protecting your business from lawsuits, property damage, injuries, accidents, and other unexpected situations. Our 
Laurel, MD team at Mid Atlantic Insurance Financial is committed to helping business owners get the coverage they need.

Commercial Insurance: What You Should Know

You must have a commercial insurance policy if you use a car to complete tasks for your business. Even if you are the sole owner and employee, you must have commercial insurance if a vehicle is used to carry out business operations. In fact, if some of your clients are state agencies, they may require you to carry commercial insurance before they do business with you. Even if your clients don’t require you to carry commercial insurance, it’s a good idea if you cannot pay for an accident or unexpected incident out of pocket. However, if you work from home, and don’t deal with the public directly, you may not need commercial insurance. However, you may still decide to invest in commercial insurance for liability protection and protection from other risks related to your business. 

Small Commercial Insurance

Small businesses can benefit from commercial insurance via a business owner policy or BOP. Many small businesses will invest in a small commercial insurance policy to protect their income, property, and assets. If you’re a small business owner with questions about commercial insurance’s benefits, call us. We can help you find the coverage that best suits your business, regardless of its size. Our Laurel, MD team at Mid Atlantic Insurance Financial can discuss the protection that commercial insurance can provide for you as a small business owner.