Some insurance agencies or underwriters require a medical exam before they will issue an insurance policy. Most do. This exam simply confirms the information you provided in your insurance application to Michael Taylor Agency serving Columbia, SC.

Insurance companies refer to this as the paramedical exam. The insurance company pays for the medical exam. If you ask for a second exam to try for a lower insurance premium, you will need to pay for the second exam.

You can find no-exam policies, but the life insurance company uses your existing health records to determine eligibility. You must provide the company with permission to access your records, which means signing a HIPAA waiver.

Insurance Classifications

While you’re not just a number to your insurance company, you will fall into one of five categories. These categories include:

• Preferred Plus – excellent health, family history, and height/weight ratio,
• Preferred – Very good health with a minor health condition,
• Standard Plus – good health and family history, but inappropriate height/weight ratio,
• Standard – complicated family history and inappropriate height/weight ratio,
• Substandard – complicated family history and recent, serious medical condition.

The good news is that you can change the premium you have over time. You might start in the substandard category, but as years pass and you have better health, you would move up to a different category. Perhaps you started in Standard Plus, but you lose weight healthily. Since that was the only mark against you, you would vault into the Preferred Plus category. That would reduce your premiums significantly, as well as qualify you for a variety of policies reserved for the healthiest individuals.

Contact the Michael Taylor Agency serving Columbia, SC to apply for life insurance. It only takes a simple medical exam to qualify.

If you don’t have a lot of questions about life insurance, you are in the minority. Life insurance is not well understood by a majority of people. You can rely on Michael Taylor Agency in Columbia, SC, your local independent agency, to have the answers you need when it comes to choosing life insurance. 

The best time to buy life insurance?

Life insurance is the most affordable when you are young and healthy, but the best time to buy life insurance is before you need it. 

Do I need to buy life insurance if I get it from my employer?

Yes, you do. There is no guarantee that you will stay with your current employer forever and you might lose your life insurance. It is better if you buy your own life insurance and then you are in control of the policy and the amount. 

Do I need life insurance if I am not married?

Whether or not you are married is not the determining factor. What is more important is if someone is dependent on you. If someone needs your income to survive, then yes, you need life insurance even if you are not married. 

Should I buy whole life or term insurance?

Both types of life insurance have a place in financial long-term planning. Whole life will stay with you for your entire life and it earns dividends. You can borrow from the cash value if the need arises. Term life insurance lasts for a set term and is more affordable. It is right for the times when you need large amounts of life insurance. You are paying strictly for the protection. When the term is over, there is no cash value. 

In Columbia, SC, Michael Taylor Agency is your local agency to contact when you have life insurance questions and needs. 

At Michael Taylor Agency in Columbia, SC, we always have a rough time explaining to some of our clients why they should get life insurance. The decision to get a life insurance policy is usually met with confusion, hesitation, or even denial. Eventually, it is not a comfortable subject to even think or discuss. But, ask yourself, what if you die? As for matters of protecting your family with this policy, it is essential to split facts from fiction.

To begin, learn some truth or facts about common insurance myths. This step will change your mentality and assist you in making sober decisions about getting life insurance coverage.

Myth#1: If you’re young and single, you don’t require life insurance

Even without kids, your aging parents or siblings dependent on you will still need money to pay for hospital bills, debts, and other expenses. When you die, you may leave them in financial limbo. 

Besides, you don’t intend to remain single for life. Later in life, you will get married and have children who will need your financial support once you are gone. For this reason, you need life insurance today. Better yet, you will get favorable premiums when young.

Myth#2: Life insurance is for individuals only

While life insurance protects individuals with dependents and debts, this policy suits businesses, too. Proceeds from life insurance can be used to settle business loans. Besides, the proceeds can be used to cushion your employees and business partners as they think about the future course of action.

Myth#3: Life insurance is expensive

Many people overestimate the price of life insurance and end up not buying the policy. However, life insurance is affordable to almost everyone, depending on the amount and type of coverage you need. For starters, you can begin with a policy that suits your budget, and later on, you can get additional coverage.

Get life insurance today!

No matter who or where you are, it is recommendable to cover your assets and loved ones with life insurance. For further inquiries, contact Michael Taylor Agency in Columbia, SC today.

Those that live near Columbia, SC are going to have a variety of important insurance needs. One type of coverage that many people should consider is life insurance, as it can offer valuable protection to those that you care about. If you do want to get life insurance here, choosing the right plan is important. The two most common options are term and whole life. You should consider the features of both when deciding which is right for you. 

Term Life Coverage

A term life insurance plan is a very popular form of coverage. This type of plan will give you coverage for a defined term, which often is between 20 and 30 years in length. This will provide life insurance coverage up to your policy amount. Term life is often a popular option as the premiums are often lower than other forms of protection. 

Whole Life Coverage

You can also consider a whole life insurance plan, which can offer coverage for the rest of your life if you continue to make payments. When you have a whole life plan, a portion of your payment each month will deposit into an account that builds with interest. In the future, this account can be accessed to convert it into cash or post it as collateral. This can make it a good addition to your investment portfolio as well. 

Picking the right life insurance plan is always going to be an important decision. As you are looking for a new plan near Columbia, SC, it can be helpful to call the Michael Taylor Agency. The team with the Michael Taylor Agency can help you assess your different life insurance options and give the guidance needed to choose a plan that will offer you the right protection for your situation. 

It is never too early to start thinking about retirement insurance in South Carolina. One of the most common types of insurance to purchase ahead of your retirement is long term care insurance, also known as LCTI. This insurance will help to cover the costs of care during your retirement or provide benefits as a form of income.

At the Michael Taylor Agency serving Columbia, SC, we want you and your family to be covered during your retirement. 

Types of Long Term Care Insurance

The cost of long-term care after an accident or during old age is significant. This is what long-term care insurance is meant to cover.

There are a number of different ways to get long-term care insurance. The way to determine the kind that you need will depend on your life situation today.

You can get coverage to pay for expenses for nursing home care, residential care, or at-home services. 

As with any insurance, there will be some exclusions depending on your insurance company.

Facilities for Long-Term Care

Even if you are choosing long-term care insurance for residential coverage, you have to be careful about learning what your policy covers. It may not be a blanket check for whatever you wish.

When you are choosing long-term care insurance, be sure that you know what types of facilities your policy will cover. Some insurance companies will only pay for a state-licensed facility or care that is specified as nursing home care.

Others will cover assisted living, and many cover in-home care and equipment. You may even be covered for some modifications at home, such as a wheelchair ramp or bathroom safety bars.

Get a Quote

When you are looking for long-term care insurance, know what you need and what to expect when it’s time to make a claim. Contact the Michael Taylor Agency serving Columbia, SC for more information on how to purchase long-term care insurance, and to get a quote.

As a first-time life insurance buyer in Columbia, SC, getting a life policy can seem like an endless process of estimations and calculations. While it often tends to get detailed, settling into the proper life insurance is all about understanding your short-term and long-term needs. Michael Taylor Agency explains three crucial things to consider when getting a life policy.

How Long Do You Need Coverage?

Life insurance comprises two main coverage options, both of which consist of different maturity periods. Whole life coverage is the first option that exists for as long as you live and often comes in handy in providing your spouse with income replacement upon your demise. On the other hand, term life coverage exists for a specific period, such as the duration of your mortgage, after which you can get the benefits of your insurance. Based on these differences, consider where your needs lie and your insurance’s duration before getting your coverage.

Think About the Various Uses of Life Insurance

Life insurance essentially protects your loved ones when you leave them behind, but that is not its only purpose. Some life policies can be used as savings plans, most notably when their value increases over time. Such a plan works in a similar capacity to a retirement policy, helping you get financial stability in your future. Make it a point to ask your insurance agent about your coverage options’ various uses to allow you to get the best out of each. 

Evaluate Exclusions in Your Policy

Life insurance often involves exclusions, aspects that can cause hindrances in payouts in the future when not adhered to. Assess your policy’s finer details before making it official and ask questions to ensure you comprehend all clauses. Consider getting your insurance agent’s help to break down any jargon, as it will go a long way in ensuring your dependants have peace of mind during settlement procedures.

We understand that life insurance can often get overwhelming; that is why our Columbia, SC agents are ready to take you through this crucial part of your journey. Call Michael Taylor Agency today to discuss your life insurance needs.

 Having a family comprising a spouse, children, or other beneficiaries who depend on you for their upkeep, you may wonder how your family would cope financially if you could not provide for them. As a Columbia SC resident, you can make sure that your family and loved ones do not suffer financial challenges from a personal tragedy by procuring outstanding life insurance at Michael Taylor Agency. If you are a young person and in excellent health, it’s time to consider how your loved ones will cope financially and emotionally upon your untimely demise.

Buying the right life insurance policy from a dignified insurance company in Columbia, SC may save your loved ones from financial ruin in the event of an unexpected tragedy. Regrettably, many Columbia SC residents wait to buy coverage until an illness or accident strikes making it a daunting task to land a reliable policy. Visit our offices today at Michael Taylor Agency offices. Our professional agents are available to conduct life insurance needs analysis to ensure that you get the coverage you need and the ultimate protection your loved ones require.

Types of life insurance coverage.

Term life insurance: This form of policy is designed to last for a given duration,probably10,20 or 30 years.When the specified term lapses, the coverage becomes null and void. A term life policy is the least expensive coverage option.

Whole life insurance: This form of policy does not get expired. Your policy will remain effective as long as you proceed to submit your premiums promptly. Your payments are converted into investments and culminate into equity that you can cash out when unexpected eventuality strikes.

Universal life insurance: It’s a flexible coverage that combines terms and real-life insurance benefits. A policyholder can utilize your accumulated earnings to settle your premium costs when necessary. It accrues cash value over time, and you can take loans against your equity.

Variable universal life insurance: It’s similar to universal life insurance in the sense that it’s flexible when it comes to settlement of premiums, and its cost of insurance increases over a while. This form of policy possesses a cash value account that does not pay a fixed rate of return.

Contact us or visit our Michael Taylor Agency offices in Columbia, SC for more information about obtaining a spectacular life insurance policy.

Anyone that lives in the Columbia, SC area will have a lot of personal insurance needs. One important form of protection that people here need to get is life insurance. With this type of coverage, you can obtain financial protection for those that depend on you. There are a few reasons why people in this area of South Carolina will need to get a life insurance plan. 

You Want to Protect Dependents

A common reason that people in South Carolina will need to get a life insurance plan is that it provides valuable protection for their dependents. When you choose to purchase a life insurance plan it will offer an insurance benefit to the beneficiaries if you were to pass away. Insured people are able to build a policy that suits their coverage needs. A plan can be flexible based on the amount of time you need coverage for and the coverage level that you want. 

You Want to Cover End of Life Expenses

Another reason that you should consider getting life insurance is so you can cover the end of life expenses. Even if you do not have dependents, having coverage can be helpful to those that you care about as your policy can cover your end of life expenses. These expenses can include covering hospital bills and funeral expenses. 

When you are looking for a life insurance plan when you are in the Columbia, SC area, it would be a good idea for you to call the Michael Taylor Agency. The team with the Michael Taylor Agency understands the value that comes with this insurance coverage. When you do call this company you are going to receive the personalized guidance that is needed to fully determine your needs and understand your options when picking a policy. 

When searching online for retirement insurance policies, you’re probably bombarded with search results chock-full of information relating to health insurance as a retiree. What you’re probably searching for, though, is a type of insurance that supplements you financially during retirement. And while health insurance for retirees is part of the insurance that you can benefit from, there are actually several types that you should consider. Here at the Michael Taylor Agency serving the Columbia, SC area, we’ve put together a quick guide on retirement insurance and the types you may need. 

Health Insurance

No matter your age, you need health insurance. Once you retire, if you can no longer purchase insurance through your employer, you can always turn to the healthcare marketplace to find a policy. A seasoned insurance agent from our agency can help you customize a health insurance policy to meet your exact needs. 

Long-Term Care Insurance

This type of insurance is needed during retirement because there will likely come a point when you may need long-term care of some sort, which can be extremely expensive. Long-term care insurance is great for providing assistance with in-home care as well as nursing home services.

Early Retirement Medical Insurance and Supplemental Medicare Insurance

An early retirement medical insurance policy is ideal for those who intend to retire early and need help paying for the costs of health insurance until they qualify for Medicare at the age of 65. Not everyone benefits from this type of policy, so it’s important to discuss its pros and cons before investing in one. 

If you would like to learn more about retirement insurance and the various types that you may need, please contact Michael Taylor Agency serving the Columbia, SC area. 

Anyone that lives in the Columbia, SC area needs to spend some time assessing their insurance needs. Life insurance is a type of coverage that all people need to think about. There are a number of reasons why you may need this protection. 

Providing Financial Protection

The main reason that you need to get life insurance is that it can provide financial protection for those that rely on you and your income. If you have dependents, it is important that they are cared for financially if you were to pass away. When you build a life insurance policy, you can create one that includes all future costs that they could incur including costs of living, higher education, or anything else that you want to take care of. 

Prepare for Future

Even if you do not have dependents today, there is a chance you will in the future. All people should consider getting life insurance today as it could be more affordable than if you were to wait until you need coverage. Further, even if you do not have dependents, the life insurance proceeds could help cover the end of life expenses so your loved ones do not have a financial burden if you were to pass away. 

There are many reasons that someone should get life insurance in the Columbia, SC area. When you are looking for your next policy here, you should speak with a professional that understands all of your different options. One great resource for information when it comes to life insurance is the Michael Taylor Agency. If you do call the Michael Taylor Agency, you will get the guidance needed to choose a great policy. The team here will help you understand your needs and options, which will give you the support needed to choose the right policy.