When You Should Start Thinking About Acquiring Life Insurance

If you are considering registering for life insurance in Sandy, UT, there are some important things to consider before you take that step. Read on to find out when it is a good idea to get life insurance.

Adding to the Family

Is your family expecting your first child? Even if it is your second or even fifth child, it is crucial to put some serious thought into the future of your family. After all, it is no surprise that you will not be around forever. In the unfortunate event of something happening to you or your spouse while your children are young, life insurance can provide them with a sense of financial security. It is advisable for a couple to take out life insurance policies for each of them in such an instance. Term insurance may be a better option, if you are interested in avoiding high premiums.

On the other hand, many experts state that it is not advisable to acquire life insurance if you are young and single, since the future is uncertain and you do not know how many children you will have. However, it can be of benefit to buy some form of life insurance at this point, since the cost would be low and you can get a term of 30 years that will be in place by the time you have kids.

During the Golden Years

If you are over middle-age or entering your “golden years”, you may want to consider getting a life insurance policy. The death benefit of a whole-life policy will allow your heirs to have the ability to pay the estate-tax when you pass. The policy would be best if held by a trust, so that it is not counted as part of your estate.

When you are ready to begin the discussion about your own life insurance, reach out to Smart Way Insurance Agency, which serves Sandy, UT and the surrounding areas. 

How Should I Choose a Commercial Insurance Policy in Sandy?

Combing through a commercial insurance policy likely doesn’t sound like very much fun, which is how a lot of business owners end up making their decisions based on price alone. Smart Way Insurance Agency can certainly tell you that this is not the best way to protect your business. Here are a few tips to keep in mind when it comes to choosing a commercial insurance policy. 

Remember: One Size Does Not Fit All 

You already know that a major corporation in Sandy UT will need a different policy from the small mom-and-pop stores that dot the town. But there’s a lot more to it than that. Companies who deal with more hazardous conditions need to prepare for everything that could go wrong — either with their employees or with their customers. You can tailor your insurance policy so that it addresses the more likely events that can threaten your business. 

Keep Injuries in Mind

People can be hurt at any hour of the day for any reason, and whether or not you’re directly responsible, your business is likely to come under attack. By having insurance that will not only cover medical and other direct costs but also lawsuits should the happen to be filed against you, your company can better prepare for hard times ahead. 

Talk to Someone Who Knows 

This is by far the best way to choose a commercial insurance policy unless you’re planning to study commercial insurance law. Smart Way Insurance Agency helps the people of Sandy, UT navigate through even the most complicated of clauses, explaining how it works in plain English. If you’re in the midst of trying to decide which policy is right for you, then give us a call to discuss your company with us.