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Life Insurance Choices

When the inevitable occurs and your loved ones are left to grieve, you will feel at ease knowing you have a customized life insurance policy in place. Life insurance provides security for the future and allows your family to maintain financial stability. There are a variety of different types of life insurance policies to choose from when looking for a policy that will work for your specific situation. Allow these informational points to assist you in determining which policy would best suit your future needs:

  • Term Life Insurance: This acts as a temporary relief and is less expensive than the standard policy. These policies are intended for short-term needs, such as paying off a mortgage, starting a business, or ensuring your child is able to receive a college education.
  • Whole Life Insurance: This permanent form of life insurance protection provides you with guaranteed death benefits, guaranteed premiums, and a guaranteed cash value that will increase year after year. These policies are important for anyone who has someone else depending on them financially.
  • Universal Life Insurance: Universal policies provide the insured with the ability to alter their death benefits and premiums. Cash value in these types of life insurance policies earn interest at a current rate.

For help finding the perfect life insurance policy that will work best to keep your loved ones financially stable, contact the independent insurance professionals at The Schwab Agency in Colleyville, Texas.

Saving on Home Insurance

All homeowners insurance policies are meant to protect your house. However, they are not all built the same, which means that they come at much different prices. While you do not want to base your home insurance choice solely on the cost, it should be a factor. To make sure that you are not paying too much for your coverage, keep these tips in mind to save on homeowners insurance.

  1. Compare – since not all insurance companies will offer the same coverage options at the same price, take the time to shop around and compare your options. Working with an independent insurance agent can help to make the process much easier since they will compare policies for you.
  2. Increase your deductible – just like your other insurance policies, the higher your deductible is, the lower your premiums will be. Just make sure that you choose a deductible that you can actually afford in case you ever have to make a claim.
  3. Combine – most insurance companies will offer discounts if you combine your home insurance policy with your other personal policies, such as life and auto insurance. Before you automatically bundle your coverage, make sure that you will actually be saving money.
  4. Install security features – the less likely it is that your home will be damaged, the more you can save. Make sure that you have working fire and carbon monoxide alarms, as well as a burglar alarm installed to help keep your home and assets protected.

For all of your home insurance needs, contact the insurance professionals at The Schwab Agency in Colleyville, Texas. As an independent insurance agency, we will work with you to make sure that you have the right amount of protection for your specific needs, all at the right price to fit your budget.

Life Insurance Medical Exams

When you invest in a life insurance policy, it is not uncommon for your insurance company to require a medical exam, since the healthier you are, the lower your insurance premiums will be. To make sure that you know what to expect during your exam, keep these tips in mind.

  • Information they will need – during your life insurance policy medical exam, your doctor will look at essentials, such as your blood pressure, height and weight, and an EKG. They may also require urine and blood samples, as well as your medical history. You will also have to answer various medical questions. The entire process does not take very long, and you may end up spending more time in the waiting room than in the actual office.
  • Make it go well – to get the best results from your exam, try to schedule it early in the morning. Get a good night’s sleep, and avoid any alcohol the day before. Try to skip your morning cup of coffee before you head to the doctor’s office, and drink plenty of water.
  • After your exam – when your medical exam is over, the information will be sent over to your life insurance company, typically within five business days. Then it will take another five business days to complete the underwriting process, which means that you may not hear back from your life insurance company for two weeks after your exam. If you have any questions about the entire process, make sure to contact your insurance agent.

When looking for the right life insurance policy, contact the insurance professionals at The Schwab Agency in Colleyville, TX. We will work with you to make sure that you have the coverage that you and your loved ones deserve, all at the right price to fit your budget.

Teens and Auto Insurance

When your teen gets their license, it is not uncommon to feel a wide range of emotions. While you are happy that they have reached a milestone in their life, it also means that you will not always be with them while they are on the road. It also means that you will have to start paying much higher auto insurance premiums.

Adding your teen driver to your auto insurance policy will almost double the cost of your coverage. This is because auto insurance providers believe that teens are some of the riskiest drivers on the road. This belief is backed by many studies, including a study that showed that the crash rate per mile driven for drivers 16 to 19 years old is four times higher than the same risk for older drivers. The highest accident risk is for 16, whose crash rating is double that of 18 and 19 year olds.

Another study compared the auto insurance rates in 10 zip codes in each state of what it would cost for a 40 year old male to insure his 2014 Honda Accord, and then what it would cost to add a 16 year old teen driver to the policy. Across the country, the auto insurance bill for the household raised on average by 152 percent. When adding a teenage male to the car insurance bill, the premiums rose on average by 172 percent, while adding a female teen driver only caused the rates to rise by 129 percent.

When looking for the right car insurance policy that will protect your whole family, contact the insurance professionals at The Schwab Agency in Colleyville, Texas. We will work with you to ensure that you have the right amount of protection, all at the right price to fit your budget.

In any business, you must have insurance to protect you and your workers from loss in the event of catastrophe. You carry workers compensation coverage so that your employees are paid if they are injured on the job. But you may be able to lower your premiums with a few simple steps.

Start by talking to your insurance agent about risk management. Ask them how you can implement a risk management plan with your staff, to minimize the likelihood of injury. Review the claims that your employees make, and see if these problems raise concerns that you can address in the risk management plan. Once you have done what you can to prevent injury, discuss plans to help rehabilitated workers to return to employment. Since your premiums depend largely on the losses sustained by injured employees, develop a system for getting those employees back to work. Instead of waiting until they are fully ready to perform their former jobs, consider allowing them to return in a limited capacity.

Contact The Schwab Agency with questions concerning your business insurance needs in Colleyville, Texas.