Month: May 2017

Life Insurance is important to protect your family in the event that tragedy strikes. Fortunately, buying insurance is cheaper than you think.

While we are young and healthy, life insurance is at the very bottom of the list of things that we would like to spend our money on. We feel like we are going to live forever. In the back of our minds, we know this isn’t the case, but we’ll worry about that later. Unfortunately, once “later” comes, it may be difficult or impossible to get the life insurance you need. I have good news though…

Buying life insurance in PA can be cheaper than you think. If you are only looking to cover specific expenses (i.e. mortgage), for a set number of years, you can get a term life insurance policy which can be less than $20 per month. In addition, most term life insurance policies have a conversion feature that allows you to transition the policy to a permanent product (Whole Life Insurance, Universal Life Insurance) within a certain number of years. The benefit to this would be if you developed health issues within the policy term, you may be eligible for a permanent policy in the same rating class that you bought the original term policy.

 

Life insurance can also be used as an investment tool for retirement, or funding your child’s college education. With whole life insurance, your contributions accrue cash value. Because this policy is purchased with after-tax earnings, that cash value can be withdrawn tax free up to your policy contribution. Any interest earned over and above what you’ve put into the policy is taxable. While life insurance shouldn’t be your only investment vehicle, it should certainly be part of your portfolio. Many of my customers are pleasantly surprised with the amount of cash value accumulated on a whole life policy.

Finally, life insurance quotes can be developed to fit your budget. Let’s say you have $50 a month available for life insurance, we can back into a term and limit available to you for that price.

Experience has shown me that life can change in an instant. As you build your family and buy a home, make sure you take the steps to keep your family in that home should something happen to you. Don’t let the opportunity for affordable life insurance pass you by.

Don’t know how much life insurance you need? That’s okay! Our agents at Risk Averse would be happy to have that discussion with you.

 

Call Risk Averse Insurance in Media, PA to discuss your life insurance needs. Risk Averse Insurance is an insurance agency in Delaware County that specializes in providing high-quality insurance products at an affordable price.

 

Having Builders Risk Insurance while you build or renovate your investment properties can prevent you from losing your investment in the event of a claim.

 

Flipping homes or buying rental properties has become a booming business in Philadelphia in recent years, and for good reason… real estate is booming in the Philadelphia area right now. Kensington, Fishtown, Northern Liberties, and University City are just a few of the neighborhoods that are seeing a complete rejuvenation of old homes. Some are being restored, while others are being knocked down and completely rebuilt.

During the time when a home is under construction, a lot can go wrong. An uncapped wire, or soldering a pipe can lead to hundreds of thousands of dollars in damage and potentially shut down your dream of investing in real estate. It is important that you have the correct insurance coverage in place throughout the project life-cycle to protect your investment. Builders risk insurance is designed to protect your property during the construction phase. It is a property-only insurance policy that protects your investment property, and associated building costs should something happen to the structure itself.

In addition to money you have invested in the materials and labor, you have money tied up in legal fees, architecture, engineering, etc. that you’ll need to recoup in the event of a loss. A builders risk insurance policy will allow you to recover these expenses should disaster strike.

You will also need to consider who is responsible for obtaining the builders risk insurance and what the insurable interest is for each party. This could vary depending on who is building the structure, and may fluctuate throughout the project. Reviewing the project with an experienced agent on a case-by-case basis is your best bet.

At Risk Averse Insurance, we strive to provide you with the sufficient coverage and knowledge necessary to protect your investment and your future. Call one of our insurance professionals today to review your next construction project in the Delaware County area.

Call Risk Averse Insurance in Media, PA to discuss Builders Risk insurance for your business.Risk Averse Insurance is an insurance agency in Delaware County that specializes in providing high-quality insurance products at an affordable price.