There are tons of different types of policies that fall under the category of life insurance. Keeping this in mind, one of the most common types of life insurance is term life. What is term life? Keep reading to find out. If you live in the Little Falls, MN area, the agents with Hanneken Insurance Agency Inc. can answer your questions.
Term life insurance put simply is life insurance that will pay out a death benefit during a specific term. This means that the term is preset when the policy is taken out and if it is not claimed or filed within that time limit, the policy is invalid. In most cases, term life insurance goes in increments of ten. This means policy terms can run from 10 years, to 20, to 30 and so on.
Term life insurance policies are wonderful if you have dependent children and want to make sure that there is a policy in place in the event that you pass before they are 18. It is also good if you have other dependents and you want them to be taken care of for a specific amount of time. Term policies are great for those that do not want a policy that is going to last for a very long time.
Term life insurance is not the only kind of policy out there. You can also take out whole life insurance that pays out no matter when you pass, but these are much more expensive, and you can also take out partial payout policies and more. If you have questions and live in the Little Falls, MN area, the agents with Hanneken Insurance Agency Inc. can help answer all your questions and get you the best policy possible for your individual needs.
Commercial insurance is important for small businesses. It helps protect you against losses that can financially harm or ruin your business. If you are looking to take out a new policy, here are a few tips to keep in mind as you obtain price quotes.
Learn What Coverage You Need
When you are looking to obtain commercial insurance for your small business, take time to learn what coverage options are available and then which ones are applicable to your business. This helps ensure you are getting the coverage you need.
Carefully Consider Your Deductible
When you are looking to obtain a commercial insurance policy, carefully consider your deductible. The higher the deductible, the less your premium will be. But you need to ensure you can comfortably afford the deductible as well. If your deductible is too high, it can negatively affect your business if you need to file a claim. Keep this in mind to select the right coverage for you.
Determine What Coverage You Are Required to Have
Lastly, take the time to learn what coverages the city, county and building owner require you to carry when you open a small business in the area. If you don’t have the right insurance, you can be fined and those fines can add up quickly. The last thing you want is to be paying high fines when you’re trying to establish and run a profitable business.
Are you looking to obtain a new commercial insurance policy? Then let Hanneken Insurance Agency Inc. help. We serve the greater Little Falls, MN area. Give us a call now to get a free estimate or get answers to your insurance questions.