2019 April 20 by Peter Green Insurance
Life Insurance Policy Selections.
Exactly how do you decide on a key person insurance to buy? Getting a key person insurance is a huge financial investment and can be a hard decision. It is essential to recognize the various policies to invest in and the advantages of each in order to make the choice that is best for you and your loved ones.
There are a couple of basic kinds of life insurance coverage plans: Term Life Insurance and Permanent Life Insurance. Term life insurance is a good alternative if you only need to cover sudden estate fees or economic duties. It is a popular choice among younger individuals who want to have security against the unforeseen, without making a huge investment. Permanent life insurance coverage plans for example, whole life, universal life and variable life, supply the chance to build investments that not only cover funeral costs but additionally can be made use of as supplemental retirement income, tuition money and far more.
- Term Life Insurance, you are acquiring protection that lasts for a set amount of time. These policies could be renewed as needed and are simple to handle. There is no financial investment and no danger to the insurance policy holder. Term life plans are the least costly selection and supply a guaranteed survivor benefit. Whatever price plan you choose is the amount your family will receive.
- Permanent Life Insurance provides a few more options. Depending on the plan, you can determine exactly what to pay towards your premium, where to invest your collected assets and even more. You can choose between whole, universal and variable life insurance plans. These policies do not end after a term. They are yours to keep as long as the premiums are paid.
- Whole Life Insurance coverage plans are just one of the more conventional forms of life insurance. With whole life insurance, your costs stay the exact same over the life of the plan and the policy does not decrease in worth. A section of your premium payment is reserved to build cash worth. The monetary worth is invested to create a more substantial benefit for your family. An additional benefit is that if you need liquid cash, you could borrow against the policy.
- Universal Life Insurance is one more permanent insurance policy that gives you the opportunity to collect more substantial benefits. Just like whole life, a portion of your premium is invested however universal life insurance offers far more adaptability. With a universal life insurance policy, you could choose how your money is spent, make adjustments to the month-to-month premium, and reduce the death benefit. This is a fantastic strategy to work around life’s changing needs.
- Variable Life Insurance resembles whole and universal life insurance policies because a section of your premium builds cash value. Much like universal policies, you can alter your premiums or the death benefit as needed. The key difference is that the built up cash value could be invested in an assortment of stock market options. This makes universal life insurance a good selection for the wise investor.
Contact Peter Green Insurance at 714-258-2800 for a quote and we will give recommendations that best suit your demands and budget. Let us assess your plan every year to ensure it remains updated with your way of living.
Peter Green Insurance Agency is based in Costa Mesa of Orange County California. We serve businesses and people throughout California, Washington, Nevada, and Arizona. We belong to the following insurance organizations.
2019 March 2 by Peter Green Insurance
Why A Business Should Purchase Key-Person Insurance?
Any person that makes a valuable contribution to a company may be deemed a key person. A scientific or medical company may rely on a specific scientist working on a new drug. A manufacturing company may depend upon the talent of a specially qualified engineer. The CEO or President of a private company be a key person for life insurance.
Why Purchase a Key-Person Policy?
A small business is often extremely vulnerable to the loss of one or two key people. In the event of an untimely death or disability, the policy would provide the financial means for the small business to continue operations despite the loss of the critical employee. Business owners also opt for key-person protection to satisfy the concerns of investors, shareholders or partners.
What Is Commonly Covered?
In general, key-person policy insurance protects a business against lost profits directly related to the specialized skills or contribution of the particular employee. Losses related to the need to hire or replace a critical employee. Additionally, for the interest and protection of shareholder or partner interests is also a typical provision.
Understand The Difference: Key-Person Versus Life Insurance
Small-business owners often confuse key-person coverage with life or disability coverage. In fact, some business owners purchase life insurance on a key employee rather than key-person coverage. Unfortunately, that may be a mistake. Both life insurance and key-person coverage protect a critical employee, but there are a few important differences that every small-business owner needs to understand in order to make an informed decision.
- Protecting the Business: The main difference between the policies is the emphasis on protecting the business versus the employee. In the event of disability, the impact on the company may be substantially different than on the individual. Key-person policy insurance recognizes that impact and provides valuable protection for the business.
- Minimal Coverage: One of the most significant reasons to purchase key-person coverage rather than a company-owned life insurance policy is the dollar amount of potential damages. The coverage of most life insurance policies is fairly minimal when compared to the real value of the company.For example, a life insurance policy in the amount of $1 million or even $5 million may be very small in relation to the full value of the company itself. Investors, partners and other stakeholders need assurance that they are protected in the event a critical contributor is no longer able to perform.
- Tax Free: Last but not least, most proceeds received by a business in the event of a claim are tax-free, which is a significant advantage to a small business required to justify long-term expenditures during a period of adjustment and growth. By minimizing risk and locking in affordable long-term security, it’s possible for a small business to generate impressive investor interest, especially given the relative scarcity of alternatives in today’s tough economy. Thus, tax-free claims, protection for the business and the dollar amount of potential damages are some of the reasons your business should consider looking into key-person policy insurance.
2019 February 14 by Peter Green Insurance
Financial security for a family should purchase of life coverage.
The list is but a few talking points. You’ll have more thoughts, as well.
1. Life insurance may seem complicated, but all policies fall into one of two basic camps. Pure term policies are insurance only, meaning you pay a premium for a specific time period and the policy pays out a certain amount when you die. Whole life policies combine term policies with an investment product. In addition, they can build a cash value.
2. Whole life insurance may be right for some people, while others may prefer to keep their investing and insurance separate. On one hand, you can keep whole life policies the rest of your life, building up cash tax-free. You can even borrow from the policy for other purposes. Because whole life is often more expensive than term life insurance, many people who buy whole life insurance often buy too little, leaving them under insured.
3. Purchase enough insurance to meet your immediate, as well as, consideration for potential needs. Your health condition may change making later purchase more costly or impossible.
4. the term of the policy meets the length of financial responsibility. You’ll most likely want the policy to last as long as you have dependents, a mortgage, etc. A needs analysis is helpful and should be suggested.
5. Buy insurance when you’re “young and healthy. “Rates usually rise for older individuals and those who are in less than optimal health.
6. Don’t buy unless you have dependents, a significant other, or assets to protect. Life insurance is about protecting that which you leave behind.
7. Always be truthful when you apply for coverage. Insurers get very concerned about forgotten medical issues.
8. An independent life insurance agent is a good source for coverage and will assist you in comparing company’s, policies and premiums. Obtaining life insurance prices and coverage has never been easier.
9. Obtain advise for your specific financial circumstances. Outline your objectives clearly to stay on track towards your financial goals.
2019 February 8 by Peter Green Insurance
Did You Know?
You’ll need a wide range of business insurance policies, starting with your landlord. Most startups need property insurance, employee dishonesty insurance, and workers compensation coverage. The majority of businesses can purchase an affordably priced “Business Owners Policy or “BOP” policy. However, when it comes to the general liability business insurance your company needs, focus not just on slips and falls. Focus on bigger mistakes that could lead to costly lawsuits. This is when professional liability insurance helps fill the gap.
You may have read statistics that a substantially large percentage of companies just starting out fail. In addition to lack of capital, another key reason for business failure may be attributed inadequate limits and types business insurance to protect potential clients from the risks you represent to your clients. Whether you are just getting your business off the ground or your scaling up, potential clients need to know you will protect their financial interests. Insurance coverage will be a consideration in who they may choose as an adviser or consultant. In the case where you may be requested to sign an agreement, request the insurance coverage requirements prior to agreeing to the contracting fees. The cost of coverage is industry specific, based your experience, historical data, and character of the services provided your client.
How Professional Liability Insurance Helps You?
Professional liability insurance is a type of coverage that provides protection from negligence claims similar to types of commercial liability insurance. However, this focuses in specifically on the mistakes you make or the failures that occur as a result of the advice and /or guidance you provide. Professional liability insurance goes further than what your basic general commercial liability business insurance plan. It gives you more coverage for a different type of risk and generally much larger financial claim. Operating in the disruptive, innovative, and comprehensive environment your business is working in today’s world insurance helps with financial security.
Who needs it?
- Are you making decisions about the operations of your company?
- Are you providing advice or guidance to your customers or clients?
- Are people depending on you to provide the very best advice or a very specific outcome?
If so it is time to upgrade your business insurance to reflect this higher level of risk. Professional liability insurance can help you get there.
The good news is that this form of commercial liability insurance is readily available and it can be customized to address the specific risks associated with your industry and even your local environment. Talk to your business insurance agent today about upgrading your coverage. It could be what keeps your new business operational and growing rather than shuttering its doors for a negligence claim.
2019 January 29 by Peter Green Insurance
Special Moments, Difficult Discussions
It’s a lovely Sunday morning. You’re at home having a delicious breakfast with your spouse and kids. It’s a special moment when you can relax and forget the stress of everyday life. All you want to do is enjoy the smell of buttered bread, spend time with your family and chat for a while. We don’t know you personally, but we’re pretty sure there’s at least one topic you wouldn’t bring to the table—although you should: death.
There are many reasons why people avoid talking about death, but allow us to give you a piece of advice: Having this tough conversation shows how much you care about your loved ones. Dealing with death requires some preparation and you should start making important decisions while you can. One of them is assessing the necessity of purchasing life insurance. You can think of it as a financial tool that will be a weight off your heirs’ shoulders. Here’s why:
Financial Protection For Loved Ones
Living as a couple is a journey that involves sharing dreams, establishing plans, and making investments. From having kids, to buying a dream house and budgeting for a vacation, everything comes with a price. When you work hard to get a promotion and your spouse gives up a fancy purchase to save money, it’s because you two are looking ahead. These mutual efforts are also an essential way to strengthen your relationship.
However, life isn’t predictable. We know that no one likes to think about this possibility, but what if one of you were to die tomorrow? Your surviving spouse’s income may not be enough to honor commitments and expenses, which could mean a change in living standards and quality of life. Unfortunately, we have to be realistic and give you the bad news: If you have children, an unexpected death would be even more troublesome. In particular, with the lose of income, food, clothes, education, housing, and health costs become a real tangible burden to those left behind.
Purchasing life insurance can give you peace of mind because then you can go to bed everyday knowing that if the worst happens, your family will suffer your loss, but they won’t have to deal with a financial meltdown at such a difficult time.
Someone Needs You
Even if you’re single and don’t have kids, there are still some situations when it’s advisable to purchase life insurance. For instance, if you take care of your aging parents and they rely on your financial assistance, an unexpected death would make them suffer twice. First and foremost, because they are grieving. Second, because they’ll have to reorganize their finances, which is always a painful process.
Don’t let dreams and plans die with you. Making sure your loved ones will be able to continue their lives is a true gesture of love. At Peter Green Insurance, we offer financial planning strategies with the benefit of life insurance and our agents are ready to explain all the details and assist you with choosing the best option to protect those you love. Contact me for a confidential discussion. Call 888-725-7776, send an email.