In the Columbia, SC area, it is very important to spend time carefully assessing your insurance needs. One form of insurance that all people could benefit from is life insurance. When you get a life insurance policy, you will be able to provide financial protection to those that you care about. There are several reasons why you need to have this type of insurance.
Provide Financial Protection
The main reason that people need to get life insurance is that it can provide valuable financial protection to those that you care about. If there are people in your life that depend on your income, you should make sure that they are properly covered financially. When you get a life insurance policy, you can build it based on the future financial needs that your dependents may have. This could help to cover the costs of housing, higher education, or even retirement.
Another reason that you should get a life insurance policy is that it can provide you with a valuable investment option. When you get a whole life insurance policy, some of your monthly premiums will build up in an account that you could eventually liquidate. These accounts and plans will give you life insurance protection and also a conservative investment option that could increase dramatically in the future.
As you are looking for life insurance in the Columbia, SC area, you should reach out to the team at the Michael Taylor Agency. If you speak with the team at the Michael Taylor Agency, you can learn a lot more about how this insurance can protect you. They can then help you to build a policy that will offer you and your dependants with the right level of insurance coverage to meet any future needs.
One of the biggest and most important assets that most people in the Columbia, SC area will ever own is their home. If you are a property owner, you should take all possible steps to protect your asset and investment. One of the best ways that you can do this is by getting into a quality home insurance policy. There are several reasons why someone may need to get home insurance.
Policies are Required by Lenders
One of the main reasons why someone will get a home insurance policy is because they are required to by their lender. Taking out a mortgage is the most common way for someone to purchase a home. If you do take out a home loan, it can help you to get the property, but you will still have some rules and obligations that need to be met. It is important to understand your lender’s requirements when it comes to getting and maintaining home insurance.
Owners Want Coverage
Another reason that you may need to get a home insurance policy is that it can give you great coverage. If you need to protect your home, you will need to get property insurance. If you get property insurance, you will have coverage if the home is damaged. It can also provide you with protection for your personal assets. Owners will also receive liability insurance protection, which could prove to be valuable as well.
There are many reasons why someone in the Columbia, SC area will want to have home insurance. If you are going to get this type of insurance, you should call the Michael Taylor Agency. At the Michael Taylor Agency, you can learn a lot about how home insurance can protect you. They will then give you tips and support needed to choose a new policy.
Maybe you’re in your 20’s or 30’s and don’t believe you’re quite old enough to get life insurance. While there is no set age for acquiring good life insurance coverage, the life insurance needs of a 20-year-old will probably be different than that of a 60-year-old. Learn about what kind of coverage would be best for you with the Michael Taylor Agency in Columbia, SC.
What Does Life Insurance Cover?
Life insurance covers your family in the case that you die and are no longer able to provide for your family. Usually, this doesn’t concern people in their 20’s or 30’s as they may not have families quite yet. While it is legally required in most states to have the minimum amount of life insurance coverage when you reach 25, most people don’t consider getting more coverage until much later.
However, it could be beneficial to have life insurance coverage in your 20’s and 30’s beyond the required minimum amount. You can get good coverage when you’re young for lower monthly payments than someone who is older. This is because you are less likely to need coverage when you are younger.
Why Get Life Insurance?
It’s easy to overlook getting life insurance when you’re young because you still have a long life ahead of you. However, life is unpredictable and anything can happen, so you should have the coverage in case something happens. Even if you don’t have a family of your own, you should think about your parents, siblings, and other relatives in the event of your possible death. Things like funeral costs and other expenses can add up, so having the extra coverage can go a long way.
Get Covered with the Michael Taylor Agency
To ensure that your family is covered, visit the Michael Taylor Agency. Our office is located in Columbia, SC, and you can schedule an appointment with us or get a consultation over the phone.
When you make that final payment on your vehicle you will feel a sense of pride and relief. And you may be tempted to lower your auto insurance to the bare minimum once that loan requirement is relieved and you are no longer under obligation to do so. At Michael Taylor Agency we urge you to keep full coverage for your own convenience and protection. We serve Columbia, SC and the surrounding area with quality comprehensive insurance services and our clients know they can rely on us through it all.
The main reason to keep your full coverage is the fact that your chances of an accident while driving do not reduce when you pay off your vehicle. The main thing that does change is your loan company’s risk and your chances of having to pay on a vehicle that is damaged or totaled. Your full coverage protects you and the loan company while you are paying on the car. After you paid it off, you deserve the same amount of protection and coverage even if you do not owe anyone for the vehicle anymore. A motor vehicle accident can happen even to the most careful driver, and insurance is about protecting more than the vehicle. Keep yourself, your passengers, and even other drivers under a blanket of protection while you enjoy the open road by keeping your full coverage. The peace of mind alone is worth keeping the status quo, and if you do ever get in an accident you will be glad that you made the choice to hold yourself at the same value that your loan company did.
Contact us at Michael Taylor Agency to discuss your specific vehicle, full coverage vs. state minimum benefits, and for a quote for either service. We proudly serve the people in and around Columbia, SC and we will be happy to answer any questions you may have about our insurance services and your specific needs.
Purchasing life insurance is one of the most important things you can do to protect your family, but it can be difficult to understand which policy is best for you. At Michael Taylor Agency in Columbia, SC, we work hard to match our clients with the best policy for their needs.
Term life provides life insurance coverage for a specified term, which is generally 10-30 years. When the term is over, you may have the option to renew the policy. However, your premium may change if you choose to renew the policy.
Term life insurance can be the best option if you plan on being financially secure enough to not require life insurance after the term is, or if you are at an age where you don’t expect to outlive the policy. Term life premiums are generally less expensive than whole life premiums, but the only value term life offers is the death benefit. If you outlive the policy, you and your family don’t receive any money.
Whole life policies are more complex than term policies. Your policy will cover you until your death. It also builds cash value. Many policies allow you to borrow against the cash value or cash out the funds. However, this may be removed from your death benefit if it isn’t replaced. Whole life policies earn a modest interest rate. Premiums are higher for a whole life. One reason for this is that the company will have to pay the benefit upon your passing, unlike term life where you may outlive the policy. The other reason is the cash value the policy builds.
Whole life insurance can be the best option if you want a policy that will remain with you until your death and if you are looking for an easy way to invest.
No one wants to think about life insurance, but the right policy will keep your family financially stable. To learn more about which life insurance policy is best for you in Columbia SC, contact us at Michael Taylor Agency.
Located in Columbia, SC, Michael Taylor Agency offers insurance policies to the local community. We understand that insurance policies are a valuable part of a person’s long term financial security. We want to help all of our clients find the coverage that they are looking for.
Planning For Retirement
As you start to age, you’ll start thinking more and more about retirement. However, if you’ve been preparing for years for this upcoming time in your life, that will help the process run smoothly. Many people will rely on retirement insurance. Retirement insurance is a synonym for the payments that people receive from the Social Security Administration after they turn 62. There are multiple ways that retirement insurance can help you enjoy a comfortable lifestyle as you age.
You can use retirement insurance to start planning the succession of your assets to future generations of your family. This is especially helpful if you plan to leave your estate to your children.
Retirement insurance can assist your spouse. The insurance can help take care of some expenses after your death, such as your funeral costs. Retirement insurance can help ensure that your spouse will never be put in an uncomfortable financial situation.
You can also use retirement insurance to assist with any goals that you’d still like to accomplish. Perhaps there is a special part of the World that you would like to visit or an activity that you would like to experience before it is too late. You can use your retirement insurance to explore new things.
Michael Taylor Agency Can Help You Plan For The Future
At Michael Taylor Agency, we strive to establish meaningful relationships with all of our clients in the Columbia, SC area. We will sit down with you and help you find the right policy to make sure that your family is taken care of. Visit our website to find out more information.
Anyone that is in the Columbia, SC area has a lot of personal insurance needs. One form of insurance that is particularly important to have is life insurance. If you are in this area of the state, one form of insurance to seriously consider is life insurance. If you are going to get a life insurance policy, the two most common options are term and whole life. It is important to consider the benefits of each to determine which is right for you.
Term Life Insurance
The most common form of life insurance continues to be term life. With this insurance, you are going to have coverage for a period of time, which typically lasts between 15 and 30 years. Once this term is over, your coverage will end. However, the premium payments are quite low compared to other life insurance options.
Whole Life Insurance
Another form of insurance to consider is whole life insurance. When you get a whole life policy, you are going to have coverage for as long as you want it. While the cost of this insurance tends to be much higher, it can be a good option as it is also a conservative investment alternative as a portion of your payments build up in an account each month.
For someone that is in the Columbia, SC area, it is very important that they get a quality life insurance policy. As you are searching for life insurance, you may find that picking a policy is confusing. To ensure that you pick the right policy for your situation, you should call the team at Michael Taylor Agency. The Michael Taylor Agency can help you to better decipher all of your life insurance options. This will help to ensure that you end up picking the right policy for your situation.
For anyone that is in the Columbia, SC area, having good insurance coverage is very important. One form of insurance that should never be taken lightly is your need for life insurance. Since it can protect those that depend on you, having a good policy is very important. There are several different life insurance options that should be considered when you are looking for your next policy.
Term Life Insurance
One of your options for life insurance is to get a term life insurance policy. When you get a term life insurance policy you will get a certain level of coverage for a specific period of time. This form of insurance will often give you the most amount of coverage for a smaller monthly premium. However, once the term of the policy is over, you will not be able to recoup any of your insurance payments.
Whole Life Insurance
Another form of insurance to consider is whole life insurance. This is a unique and beneficial form of life insurance because it will give you coverage for your entire life. While the premiums for whole life insurance are higher, someone in the Columbia, SC area can benefit because a portion of the policy will add up in an account that can eventually be liquidated. This can make it a good form of investment as well.
When you are in the market for a new life insurance policy, you should speak with the team at the Michael Taylor Agency. The insurance professionals at the Michael Taylor Agency can address all of your concerns when it comes to choosing a quality insurance policy. This could ultimately help you to better understand your options and get into a policy that provides the right level of coverage to your loved ones.
Life insurance is often misunderstood because there are so many types of coverage. You might have heard of the various types of life insurance, but there are basically two primary types. Here at the Michael Taylor Agency, we want to help our Columbia, SC family understand its options.
Term Life Insurance
Term life insurance is life insurance coverage that is active for a set period of time, such as 10 years or 30 years. Generally, term life insurance has fixed premiums and a fixed payout upon the insured’s death. Those who choose term life insurance often do so to have coverage during an important period.
For instance, they might have it for 30 years until their mortgage will be paid off. This helps their family in case tragedy strikes while they are still making house payments. Term life is also a more affordable option for many families.
Permanent Life Insurance
Permanent life insurance is insurance coverage for your whole life, as long as you pay your premiums every month. Permanent life insurance policies are attractive to individuals because they build cash value. Some also offer flexible payments and flexible death benefits. There are two popular types of permanent life insurance: whole life and universal life.
They are similar but have some distinct differences. Both provide lifelong protection and build cash value. The main difference is in how that cash value is built. With whole life, the value is built with low risk and it is guaranteed. A universal life policy’s cash value is built in a more high-risk fashion and is not guaranteed- it depends on the performance of the market.
Both permanent life and term life offers the policyholder some great benefits. If you are in the Columbia, SC area and are looking to obtain new or update your current life insurance policy, stop by or give the Michael Taylor Agency a call today. We can help you find the coverage you need for the life you love!
At Michael Taylor Agency of Columbia, SC, we want our insurance products to help you live a better life from your youth through retirement. We want you to be able to provide for your family in your death.
You have many investment options available to you. This blog explains how a permanent life insurance policy with a cash value component helps you prepare for and pay for retirement.
You might not have thought of life insurance as a way to save for retirement, but you can use it that way when you choose a policy with a cash-value component. You probably think of term life or whole life, but with an indexed universal life policy, you can provide for your family with a death benefit and save money in a cash-value account, tax-free. That savings let you have a nest egg into which you can dip into for purchasing cars or paying for a medical emergency.
Indexed Universal Life Insurance Defined
Universal life refers to a permanent life insurance policy with a saving account component. Your monthly premiums go into a cash-value account as well as paying for the insurance death benefit.
The indexed part refers to the stock market index. The cash value savings or investment account works with the index which determines the amount of money the account earns. Your investments are typically protected with a floor. That means your account balance cannot drop below a certain minimum even if the stock market does badly. You can exceed the current interest rate by using this method, so you earn more on your investment without risk.
You typically get a flexible premium option that lets you pay on a fixed amount on a schedule. You can request to adjust the premiums or the death benefits.
Call Michael Taylor Agency of Columbia, SC today to learn more about how you can save for retirement and insure your family at the same time. We can help you build the nest egg you desire.