A growing number of Columbia, SC residents want life insurance but feel limited because they smoke cigarettes, cigars, or pipes daily. We at Michael Taylor Agency can help you overcome this problem and provide you with the excellent life insurance policy that you deserve.
Smokers Will Struggle to Find Life Insurance
While a smoking habit doesn’t necessarily mean you won’t get life insurance, it can make the situation a challenge. For example, you may find that companies increase your payments or limit your coverage to certain kinds of diseases. This situation is understandable, as smoking decreases your lifespan, but is very frustrating indeed. And smokers shouldn’t hide their habit, as your doctor will tell your providers.
Limitations Aren’t Just for Smoking
If you don’t smoke cigarettes, cigars, or pipes but do chew, vape, or use snuff, you may still find your coverage limited. Simply put, your body is still exposed to nicotine, which can damage various elements of your health. However, your limitations and increased costs will likely be less severe because smoking is much more dangerous and unhealthy.
Marijuana Use May Affect Coverage
The legalization of recreational marijuana in many states could have a profound effect on many insurance rates. Simply put, marijuana smoking is a problematic health issue that many providers may punish you for doing. Some providers may even deny you coverage also though smoking marijuana is legal in your state. Or they may allow coverage if your marijuana use is medicinal.
Let Us Help You
If you are struggling to quit smoking but need great life insurance in Columbia, SC, please contact us at Michael Taylor Agency to learn more about how we can help. We’ll figure out a life insurance policy that meets your needs and will fight as hard as possible to limit your excess costs.
Every working individual in Columbia, SC will one day leave the working world behind and settle in retirement mode. One of the things that will change significantly is your financial needs. You will no longer be dependable on that monthly salary you were getting while working but instead living off those retirement savings, you have saved diligently over the years.
Aside from your retirement savings, the types of insurance policies you have also played a critical role in your financial matters. That is why at Michael Taylor Agency, we recommend retirees to have these types of insurance.
Healthcare cost is increasingly going high in Columbia. Therefore, it’s prudent that aging retirees purchase medical insurance that will help cover costly medical bills for major illnesses that comes with advanced age. Most seniors at or beyond the age of 65 are eligible for Medicare. Seniors who are still working at this age may also get benefits through their job.
While the critical purpose of life insurance is to replace lost income, a retiree may want to keep this coverage if they owe someone, have dependents or spouse who may benefit from the wealth that will be left behind once they’re no more.
An annuity simply protects one from running out of finances. It is a particular type of retirement insurance where you hand over a huge sum of money to an insurance company like Michael Taylor Agency in exchange for future payments. How the payments are calculated entirely depends on the type of annuity you choose.
Annuities are typically the best for retirees who want to remain stress-free and secure about their source of income. For quotes and policy discussion visit us at Michael Taylor Agency in Columbia, SC today.
Life insurance can be a good investment no matter what your age. The agents at Michael Taylor Agency serve residents who live in Columbia, SC and many of the surrounding communities. If you are interested in learning what type of policy would best suit your needs, the answers aren’t far away. While you can look them up online, the better option is to talk to an agent near you who can answer your questions and work with you to find the perfect policy.
Age Is Just A Number
Age is just a number. One thing that is most important to remember when buying any type of life insurance is the higher your age, the higher your monthly premiums will be. This is especially true if you choose a shorter term life policy. The fewer the number of months in the term, the higher the cost of the insurance. While each insurance provider is different, this is often a rule of thumb across the board.
The Right Type of Life Insurance
It’s also important to know what your end goal is. Do you have a family to support or grandchildren you want to set up trust funds for? Or, do you simply want to pay your funeral expenses. While whole life will take care of your family, term life is a great way to secure the funds for your burial without spending an excessive amount of money.
If you live in Columbia, SC and want answers about life insurance, set up an appointment with the agents of Michael Taylor Agency today! They have the information and the policies you are looking for.
Rock Hill and Columbia, SC residents who are interested in buying a new life insurance policy can contact the agents at Michael Taylor Agency for advice. They sell various types of life insurance policies and will make sure the right policy is chosen depending on your needs and goals. Many people want a simple policy that covers their final expenses with whatever is left given to family or friends. A term life insurance policy is an affordable way to meet those goals.
Term Life Policies
Term life policies also offer the option of borrowing against the policy when enough equity has been established. If you choose to borrow against the policy, you can make an additional payment every month until the loan is paid off or add a specific number of payments at the end until the policy has matured. While most people choose not to touch their life insurance equity, the option is extremely beneficial if an emergency occurs.
Building Usable Equity
A term life insurance policy is set to have a specific number of payments and a maturity date. Once you have started to establish equity by making regular payments, the policy begins to build in value so that it contains usable equity if you ever need it. It’s important to remember that what you borrow will not be available later unless you pay it back into the policy.
If you live in Rock Hill or Columbia, SC and are interested in learning about term life policies and their benefits, call the agents at Michael Taylor Agency and talk to one of the agents. They will go over your needs and find the policy that will work best for you.
Homeowner’s insurance is in place to cover you and your family in a time of loss. However, the ideal situation is for that loss never to take place at all. Although some types of loss are not preventable, for instance, damage from a storm, other types certainly can be prevented. Here are a few steps from Michael Taylor Agency in Columbia, SC that you can take to make your home safer.
Install a Security System
Security systems cut down the chances of a break in considerably. Today, home security systems are more affordable and accessible than ever before. Do your research to learn which kind of system would work best for your home and needs. Some systems, which are unmonitored systems, do not have a monthly fee associated with them but still provide great protection for your home.
Do Regular Washer and Dryer Maintenance
This may not seem like a big deal, but dryer and washer maintenance can make a difference in your home’s safety. Dryers are a huge fire hazard in the home, especially when they are not maintained and cleaned properly. Dryer lint can build up in many different areas in the dryer, not just in the dryer lint filter. When a dryer is not cleaned of lint regularly, that lint will begin to find a new home in the inside of your dryer, in the vent hoses and even in the dryer exhaust pipe. One tiny spark can ignite this lint and cause a fire. It is also a good idea to check your washer hoses to make sure they are sturdy. Over time these hoses can crack and burst, sending hundreds of gallons of water into your home.
Install outdoor lighting to discourage intruders and make your yard a safer place for your guests. Outdoor lighting can cut down the risk of outdoor injuries on your property.
If you would like to learn more about insuring your home and keeping it safe, call our friendly staff at Michael Taylor Agency in Columbia, SC.
Part of planning for a comfortable retirement in Rock Hill or Columbia, SC is taking a good look at the insurance policies that you have carried with the Michael Taylor Agency and make sure that they still work with your current income and lifestyle. Let’s take a look at a few tips that could help you and your family.
Review Your Liability Coverage to Protect the Nest Egg
When you are on a fixed income, the possibility of having to pay out a large settlement to somebody who tripped on your front walk, at the beach house, or on your boat could empty your savings accounts. Check the liability maximums on your home and auto insurance policies. Consider adding umbrella insurance for added protection.
Medigap Insurance Keeps You on a Predictable Monthly Budget
While Medicare does kick in for your retirement, it doesn’t always take care of the rising costs of prescriptions or visits to your specialist. A good Medigap insurance policy can help you stay healthy without taking a large chunk out of your monthly budget. Sitting down with an insurance professional can help you find the policy that best fits your situation.
Consider Your Deductibles on Auto and Home Insurance
In the past, you have raised the deductibles for your insurance policies to save on the cost of the coverage. Now that high deductible might be more of a burden. It might be time to lower it so that accidents remain an inconvenience, not a severe hit to your financial stability.
For more ideas on how to plan for a retirement in Rock Hill or Columbia, SC that provides peace of mind along with a comfortable lifestyle, give us a call at Michael Taylor Agency and set up an appointment with our retirement specialists today.
Life insurance is something that everyone can benefit from and having the right life insurance policy makes a huge difference. There are a few different basics you need to know about life insurance and the helpful agents with Michael Taylor Agency in the Columbia, SC area can help.
A common question when it comes to life insurance is can you have more than one person on your life insurance policy? Put simply, you can pay the premiums for more than one person at a time and can insure them all through the same agency, but each person is going to need to have their own policy that is specifically named for them and adjusted for them as well.
One person can insure multiple people, but each person is going to need to have their own insurance that is named for that specific person. A good example is a parent that has life insurance through work. They are the head insured, and they can then insure their spouse and children. Though the primary insurer is paying for all the policies at the same time and they are all through the same company, they are all technically individual policies that would have to be paid out separately even if something happened to the entire family at the same time.
So why is life insurance done this way? This is to make sure that if something happens to one member of the family, that individual policy can be paid out without disrupting the coverage of the other family members. For those in the Columbia, SC area, the agents with Michael Taylor Agency can help to find the perfect insurance policy and coverage for your family or yourself.
If you are getting ready to retire in the Columbia, SC area, you probably have a nice nest egg designed to provide a steady income for the next twenty years. But what happens if you are faced with huge hospital bills or are involved in a major auto accident? It can all be gone in an instant. Your retirement specialist at Michael Taylor Agency encourages you to discuss insurance products designed to keep the cost of living affordable and predictable.
Umbrella Insurance Leaves Your Savings in the Bank
When your net worth climbs to a half million or more, you become a target. You could be faced with a costly lawsuit if somebody suffers from an accident you may have caused. Instead of emptying your retirement fund or having to sell your home, umbrella insurance could cover the added expense and only cost you a few dollars a month.
Supplemental Insurance for Medicare Keeps Health Affordable
You are beginning to collect your benefits from the government, including having Medicare cover many of your health costs. But prescriptions and a large portion of costs remain your responsibility. A supplemental health insurance policy helps to keep those costs down, and you will know how much to budget for each month.
Talk about Long-Term Disability and Nursing Home Costs
Finally, should you or your spouse’s health suddenly decline, you may require nursing home support. If you leave your estate unprotected, you could blow through your nest egg in just a few months. A long-term disability policy can provide the help you need without stripping you of your house and standard of living.
Look forward to a retirement free from financial worries when you work with your agent at Michael Taylor Agency and enjoy your years taking advantage of everything Columbia, SC has to offer.
One of the most important types of insurance coverage that many people need to consider is life insurance. When you get a life insurance policy, you are helping to ensure that your loved ones are cared for if you happen to pass away. When looking for life insurance, the two main options to consider are a term or whole life insurance policy. There are several features of both types of insurance that you need to understand when determining which type of insurance is right for you.
One type of insurance you should consider is whole life insurance. This type of insurance policy will provide you with coverage of a defined amount for the rest of your life. When making payments to the insurance company, a portion will also build up into an account that can be liquidated at any time. This can also make it a good investment. However, payments tend to be much higher than other insurance options.
For those looking for the best short-term solution with life insurance in the Columbia, SC area, one of the best types of insurance is term life coverage. With this type of coverage, you will receive a specific amount of coverage for a certain amount of time. This is ideal for people looking for the most coverage with the lowest payment.
Since life insurance is so important, you need to make sure that you get the right policy to match your needs. For those that are in the Columbia, SC area, going to meet with the Michael Taylor Agency is a great option. When you meet with the Michael Taylor Agency, you will receive far more insight into all of your life insurance options and the agency can prepare a quote for your policy. Contact our agents for more information.
In the U.S., "Retirement insurance" refers specifically to the payments made by the Social Security Administration for those who have reached the age of sixty-two. This is where you collect on your benefits after a lifetime of paying into social security. The payments are generally modest but enough for most retirees to get by, or to help them with some supplemental income each month. However, this shouldn’t be the entirety of your retirement insurance plan. Michael Taylor Agency can help Columbia, SC retirees to live a much more secure life post-retirement.
So the question is, then, what other insurance is important in your retirement years?
Different people will, of course, have different priorities, but for most, retirement insurance will come down to life insurance, property insurance, auto insurance, and possibly an umbrella policy. Life insurance is especially important if you have dependents or want to be able to help your family out when you’re no longer around. Making sure that you have enough coming to your family for funeral expenses and other arrangements can be a very big help. An umbrella policy can also be very helpful as it offers an extra reserve of coverage to dip into when your other policies reach their limit.
It has been shown that while retirees often take in less income than they did at a younger age, they are better at saving and spending money than ever before. A lifetime of experience goes a long way in financial planning. Michael Taylor Agency can help you to devise the plan you need to make sure that your family in Columbia, SC are taken care of.