Five Ways Life Insurance Helps You Celebrate Life

Life insurance isn’t about death; it’s about removing the worries from the living. It’s a way to celebrate life by ensuring your loved ones live how they’re accustomed to, and your legacy lives on. It’s about ensuring the lifestyle you’ve worked hard to build continues for the ones you care about. But those aren’t the only ways life insurance helps you celebrate life. Here are a few more reasons for you to ponder:

  • Peace of mind: Knowing your loved ones are financially secure when you die takes a lot of worry off your chest. This release helps you enjoy your life to the fullest without worrying about how much of a financial impact your death will have on your family.
  • Legacy: Life insurance provides a financial legacy for your loved ones or even a favorite charity. This ensures that your values and causes are supported even when you’re gone. 
  • Living benefits: Some policies offer benefits like critical illness coverage or cash value accumulation. You can use these benefits while you’re alive to cover unexpected expenses, celebrate milestones, or support a comfortable retirement.
  • Financial planning: Your life insurance policy is essential to your comprehensive financial plan. It helps you plan for future expenses, like your significant other’s retirement or your children’s education. This type of planning helps prepare for the future now so you can enjoy the rest of your life with your loved ones.
  • Celebrating essential life stages: Getting life insurance often happens when other major life events occur, like having a child, getting married, or buying a home. These are all occasions to celebrate life now and in the future.

Life insurance from the Michael Taylor Agency is more than you may think. It’s truly a reason to celebrate the life you share with your loved ones in Columbia, SC, from moment to moment. 

Get Answers to Frequently Asked Questions About Home Insurance in Columbia, SC

Navigating the maze of home insurance can seem complicated, but with the expert guidance of local professionals at Michael Taylor Agency in Columbia, SC, it gets a lot simpler. We answer the most frequently asked questions about home insurance and how it benefits homeowners in Columbia, SC.

Answers to Frequently Asked Home Insurance Questions

1. Is It Necessary to Have Home Insurance?

Yes! Home insurance is crucial for Columbia homeowners looking for financial protection against unforeseen events. It safeguards your home and financial assets against losses from theft, vandalism, natural disasters, and liability claims.

2. How Much Home Insurance Coverage Do I Need in South Carolina?

Determining the perfect amount of home insurance involves evaluating several financial aspects, such as the total value of your home, the worth of your personal belongings inside the house, the costs of any add-ons and renovations, and possible liability risks. Our experts at Michael Taylor Agency can help you in this assessment to determine adequate coverage that protects your financial assets.

3. Can I Lower My Home Insurance Premiums?

Yes! You could lower your insurance costs by bundling your home insurance policy with other policies, such as auto insurance and umbrella insurance. Additionally, installing safety measures, such as smoke detectors and home security cameras, can lower premiums for South Carolina homeowners.

4. How Can I Procure a New Homeowners Insurance Policy in Columbia, SC?

When you’re ready to protect your household from potential perils like theft, vandalism, natural disasters, and flooding, contact our insurance experts at the Michael Taylor Agency. They will provide you with a comprehensive South Carolina homeowners insurance quote. You don’t have to navigate this world alone; we’re with you every step of the way!

Insurance For Your High-Risk Years. Why Choose Term Life Insurance

Columbia, SC, is a flourishing city that is increasingly attracting younger people who are building their families and careers in this vibrant environment. Notably, many of these younger families are entering "high-risk" years. The Michael Taylor Agency offers a practical solution for safeguarding families during these precarious periods: Term Life Insurance.

The Basics of Term Life Insurance

Term life insurance provides coverage for a specific duration, often for 10 or 20 years, safeguarding the life of the insured individual.

Safeguarding the High-Risk Years

The "high-risk" years typically coincide with when young families are in their 20s to 40s. This period comes with financial challenges, such as high mortgages and impending college tuition, while incomes need to be protected. In the event of an unexpected loss of an income earner during these vital years, the family could face devastating consequences.

How Can Term Insurance Help?

Term insurance is an affordable variant of life insurance that can usually be purchased in large amounts at comparatively low rates. This allowance enables families to cover final expenses, mortgage payments, credit card debts, and even college education costs.

Take a Step Toward Enhanced Financial Security Today

Initiating your term life insurance policy is as simple as contacting us at the Michael Taylor Agency of Columbia, SC. Answer a few questions, and you can start your journey toward greater financial assurance. Young, healthy applicants usually do not need a physical examination.

Make the Smart Choice with Michael Taylor Agency

Achieving the life insurance coverage you and your family deserve has never been easier with the assistance of the Michael Taylor Agency. Reach out to us today and begin your protection journey.

Auto Insurance Strategies After a DUI

Coping with DUI Convictions: Your Guide to Auto Insurance

Dealing with the repercussions of a DUI conviction can be a complex process, involving several challenges, including addressing insurance needs. At Michael Taylor Agency in Columbia, SC, we extend our expertise to help drivers convicted of DUI navigate through their insurance options.

Opt for Comprehensive-Only Coverage

If your license has been suspended after a DUI conviction and you’re not driving your vehicle, it may be beneficial to switch to comprehensive-only coverage. This insurance protection safeguards your car against potential damages while it’s not in use, including threats like theft, vandalism, and natural disasters. Such a switch can help you significantly reduce insurance costs during the suspension period. Please remember such a policy warrants that you or anyone else isn’t driving the vehicle.

Consider Raising Deductibles

Another effective strategy to reduce your premiums following a DUI conviction is to raise your deductibles. This implies agreeing to bear a higher expense out-of-pocket in the event of raising a claim, which correspondingly lowers your monthly insurance payments. Make sure you can comfortably afford the higher deductible before making this choice.

Scout for the Best Insurance Provider

Shopping around for insurance and comparing quotes from different companies is always a prudent approach, particularly after a DUI conviction. Some insurance providers may offer more affordable rates than others. At Michael Taylor Agency, we help you analyze multiple auto insurance policies from varied insurers. We’re here to assist, whether it’s your first DUI conviction or a repeated offense. Get in touch with our team in Columbia, SC, today for a personalized, affordable auto insurance solution.

Five Expenses Life Insurance Could Help Cover

Life insurance is a safety net, providing financial support in challenging times when a policyholder passes away. It could help cover several different major costs if you’re no longer around.

Paying for Daily Living Expenses

Life insurance can play a crucial role in helping beneficiaries manage daily living expenses without the policyholder. This is especially important in Columbia, SC, where the cost of living has risen recently. The payout from a life insurance policy could help pay necessities like food, utilities, and rent or mortgage payments.

Funding Your Children’s Education

A life insurance policy can also be instrumental in ensuring that a policyholder’s children can afford higher education. With college tuition continually rising, life insurance proceeds can pay for tuition, books, and room and board.

Facilitating Retirement Savings

For surviving spouses, life insurance may supplement their retirement savings. This is one of the main reasons to get a life insurance policy for a large amount.

Paying Off Debts and Mortgages

Life insurance can provide beneficiaries with the means to pay off outstanding debts, including mortgages, credit cards, and loans. If you pass away, this might be the only way your spouse could keep the house.

Covering Funeral and Final Expenses

Finally, life insurance can cover funeral and final expenses, which are sometimes substantial. We at Michael Taylor Agency have seen some parents get a small life insurance policy for their children so they wouldn’t need to worry about funeral costs during a very trying time.

Get Life Insurance

Life insurance may provide financial assistance for your loved ones in many ways. If you need help finding life insurance and are in Columbia, SC, contact us at Michael Taylor Agency.

What Is Retirement Insurance? Your Questions Answered

When you plan for retirement, there are many things to consider – including insurance. At Michael Taylor Agency, serving Columbia, SC, we’re happy to help you decide which types of insurance are most important to help you during retirement. Medical costs in retirement can be expensive, but having the right coverage can help you save hundreds or even thousands of dollars. 

What Kind of Insurance Do Retirees Need?

Many people who retire believe they will rely solely upon their Medicare coverage to help with their medical expenses. However, upon doing research, a significant portion of these people realize that they will also need a Medigap plan to help cover the significant costs that Medicare does not cover. 

What Is Medigap Insurance?

Medigap insurance is a policy you can purchase to help share the out-of-pocket costs associated with Medicare coverage. Finding the right Medigap policy for your needs can help you protect your retirement savings. 

How Can You Find the Right Medigap Policy?

Finding the right Medigap policy is important. You’ll want to find a policy that you find affordable but which will also benefit you to the greatest extent possible. Medigap policies can be complicated, just as Medicare itself is complicated. Finding an insurance agent to help you walk through the options and make the most informed decision possible is important. 

This is why many customers come to Michael Taylor Agency serving Columbia, SC. Our informed and helpful insurance agents are dedicated to helping you find the right coverage for your needs. Enjoy your retirement with the right policy for you.

I’m In The Army and Need Life Insurance

So you’ve decided to be all you can be. You’re in uniform and serving your country. Besides your paycheck, Uncle Sam takes care of your food, lodging, and medical care, among other things. But what about insurance? If you are an active duty service member, you are automatically enrolled in SGLI group life insurance. You may be thinking about what happens when you leave active duty. You might want those same benefits as a veteran. 

What You’ve Got Now

An active-duty servicemember is offered group life insurance of up to $400,000, known as Servicemember’s Group Life Insurance. You can opt out of it, but this may be the best deal you will get. This will give your beneficiary your death benefit should the worst happen while you are enlisted. 

What You’ll Have Later 

When you are no longer on active duty, you will lose your SGLI. Three to five days before you exit the military, you will participate in the transition assistance program, during which you will discuss switching to Veterans Group Life Insurance (VGLI). You will then have 240 days to make the switch, or you will have to prove you are healthy enough to qualify. VGLI has the same benefits as SGLI, but the rates increase every five years unless you are disabled. 

Michael Taylor Agency Serving Columbia, SC

If you seek life insurance in Columbia, SC, please get in touch with the Michael Taylor Agency. Our knowledgeable and courteous agents will do all they can to help you, earn your trust, and lead you to what you need. 

South Carolina Auto Insurance Requirements

Our agents at the Michael Taylor Agency serving the Columbia, SC area want to ensure that you and your vehicle are protected sufficiently regarding auto insurance.

In South Carolina, all drivers must have at least a minimum amount of auto liability insurance. If you are caught driving without it, you risk losing your driver’s license for a specific amount of time, paying high fines, and even ending up behind bars.

Auto liability insurance will help pay for injuries and property damage for the other driver and their passengers if you cause an accident. Auto liability is not the only type of auto insurance available, though. Check out the detailed list below of other types of auto insurance you can secure. 

Types of Auto Insurance

Collision Insurance Coverage

This type of insurance is very important to keep your vehicle on the road since it will help pay for damages to your vehicle if you collide with a vehicle or some object while driving.

Comprehensive Insurance Coverage

You can’t predict the future, so you cannot know when a natural disaster or fire will occur, damaging or destroying your vehicle. Someone may decide to randomly vandalize your vehicle, causing thousands of dollars worth of damage, or steal your car, truck, or SUV. If any of these scenarios occur, you will be happy you have comprehensive insurance in place since it can help repair or replace your vehicle.

Uninsured and Underinsured Motorist Coverage

This type of insurance will come in handy if you are in an accident caused by another driver and that person only has a minimum amount of insurance or none at all. Your policy will kick in to help you get your vehicle fixed or pay for your medical bills if you are injured.

Contact Michael Taylor Agency

To obtain the best auto insurance policy for you and your vehicle, contact our experienced auto insurance agents at the Michael Taylor Agency serving the Columbia, SC area today!

Term vs. Permanent Life Insurance: Making the Right Choice For You

Life insurance is a critical financial tool that provides your loved ones peace of mind and financial security. When considering life insurance, one of the most significant decisions you’ll make is choosing between term and permanent life insurance. The team at Michael Taylor Agency, providing life insurance to the residents in the greater Columbia, SC area, wants to help you select the right product for you. Here are some of the key differences between term and permanent life insurance.

Term Life Insurance:

  • Affordability: Term life insurance typically offers lower premiums, making it more budget-friendly, especially for young and healthy individuals.

  • Coverage Period: It provides coverage for a specified term, such as 10, 20, or 30 years. If you pass away during this term, your beneficiaries receive the death benefit.

  • Simplicity: Term life insurance is straightforward, with no cash value or investment component. You pay for pure insurance protection.

Permanent Life Insurance:

  • Lifelong Coverage: Permanent life insurance, which includes whole life and universal life, provides coverage for your entire life, as long as premiums are paid.

  • Cash Value: It accumulates a cash value component over time, which you can access through loans or withdrawals while alive.

  • Premiums: Premiums are generally higher than term life insurance but remain level throughout the policy’s life.

Choosing between term and permanent life insurance depends on your individual circumstances and financial objectives. A great insurance agent, such as the professionals at Michael Taylor Agency, can help review your individual circumstances and select the product that is a good fit for you. Contact our office, serving the greater Columbia, SC area, to schedule an appointment today. 

Reasons to Update Your Home Insurance

Home insurance may not always be on your mind, but it does need some attention, at least a review annually. Changes to your lifestyle, home, or family can impact your insurance coverage or costs. By not updating your policy regularly, you could be missing out on insurance protection or discounts on your premium. If you’ve experienced any of the following changes in your home or family over the last year, it’s time to update your home insurance from Michael Taylor Agency in Columbia, SC.

Major Home Remodel

Significant renovations in your home, such as kitchen or bathroom remodel, will add substantial value to your property. You may need to increase your dwelling coverage to ensure these structural changes and that your home has adequate protection against damage or loss.

Home Security

Home improvements that boost the security and safety of your property could warrant a discount on your home insurance. These include upgrading your electrical or plumbing system, installing a new security system, getting replacement windows or a new roof. By updating your policy, you can benefit from lower home insurance costs.

Changes in Your Household

The members of your family are covered under your home insurance policy. If you receive new people into your home, such as elderly parents, a new baby, adopted children, or adult children who move back in for whatever reason, you’ll need to update your policy to add them to your coverage.

Acquiring an Expensive Item

Your valuables are protected under the property coverage of your policy. New high-end acquisitions or gifts must be added to your policy to protect against theft or damage. Some items may need a rider (extra coverage) to cover their value fully.

For professional help in maintaining accurate home insurance protection for you and your family, contact Michael Taylor Agency in Columbia, SC.