Frequently Asked Questions

---

While We Specialize in Business, Life & Retirement, we maintain our offering with a full suite of insurance solutions

• Business-Liability, Property, BOP, Commercial Auto, Workers Comp, Etc.
• Retirement Planning- Annuities, Long Term Care, IUL
• Life & DI-Term, Whole Life, Key Person, Short Term Disability
• Farm-Equine-Livestock-Crops
• Home
• Auto

Homeowners insurance typically covers damage to your home and personal property from events like fire, theft, and certain natural disasters. It may also provide liability coverage in case someone is injured on your property.

Auto insurance rates are influenced by factors such as your driving record, age, type of vehicle, location, and coverage limits. Additionally, factors like credit score and previous insurance claims history may also impact rates.

Depending on the value of your possessions, you may need additional coverage such as scheduled personal property coverage or a separate floater policy to adequately protect valuable items like jewelry, artwork, or collectibles.

Collision coverage typically pays for damage to your vehicle caused by collisions with other vehicles or objects, while comprehensive coverage protects against damage from events like theft, vandalism, or natural disasters.

Personal property stolen from your car may be covered under your homeowners or renters insurance policy, rather than your auto insurance. It's essential to review your policy to understand coverage limits and exclusions.

The insurance needs of a small business may vary, but common types of coverage include general liability, property insurance, professional liability (errors and omissions), workers' compensation, and business interruption insurance.

You can potentially lower your business insurance premiums by implementing risk management strategies, maintaining a safe workplace, bundling policies with the same insurer, and periodically reviewing your coverage needs.

Business interruption insurance helps replace lost income and cover ongoing expenses if your business is unable to operate due to a covered event, such as fire, natural disaster, or other unforeseen circumstances.

Cyber liability insurance can be crucial for businesses that handle sensitive customer data or rely on computer systems for their operations. It helps protect against data breaches, cyberattacks, and related legal liabilities.

Term life insurance provides coverage for a specific period (e.g., 10, 20, or 30 years), while whole life insurance provides coverage for the insured's entire life and includes a cash value component that grows over time.

The amount of life insurance coverage you need depends on factors such as your income, financial obligations, debts, and future expenses (e.g., mortgage, education costs, and funeral expenses). A financial advisor can help you determine the appropriate coverage amount.

Some life insurance policies allow for adjustments or conversions, such as increasing coverage, changing beneficiaries, or converting a term policy to a permanent policy. It's essential to review your policy and consult with your insurance agent for options.

Even if you're single and childless, life insurance can still be beneficial to cover funeral expenses, outstanding debts, or leave a financial legacy for loved ones or charitable organizations. Additionally, purchasing life insurance while you're young and healthy can lock in lower premiums.

Yes, it's possible to have multiple life insurance policies to tailor coverage to your specific needs. However, it's essential to consider your overall financial situation and avoid over-insuring yourself beyond your actual needs.

An IUL, or Indexed Universal Life insurance, is a type of permanent life insurance policy that combines elements of traditional universal life insurance with the potential for cash value growth linked to the performance of stock market indexes, such as the S&P 500. Here's how it typically works:

1. Death Benefit: Like other types of life insurance, an IUL provides a death benefit that is paid out to the beneficiary upon the death of the insured individual. This death benefit is typically income tax-free and can help provide financial security for loved ones.
2. Premium Payments: Policyholders pay premiums into the IUL policy, which can be flexible in nature. They can choose the amount and frequency of premium payments within certain limits, allowing for adjustments based on their financial circumstances.
3. Cash Value Accumulation: A portion of the premium payments goes toward the cash value component of the policy. Unlike traditional universal life insurance, where the cash value grows at a fixed interest rate set by the insurance company, the cash value in an IUL policy can potentially grow based on the performance of selected stock market indexes.
4. Indexing Strategy: Insurance companies typically offer different indexing strategies for policyholders to choose from. Common indexing strategies include annual point-to-point, monthly sum, and monthly average methods. The cash value growth is tied to the performance of the selected index, subject to certain caps, floors, and participation rates set by the insurance company.
5. Guarantees: While the cash value growth is linked to the performance of the stock market indexes, most IUL policies come with certain guarantees to protect the cash value from market downturns. These guarantees may include a minimum interest rate or floor, ensuring that the cash value does not decrease even if the selected index performs poorly.
6. Flexibility: IUL policies offer flexibility in terms of premium payments, death benefit options, and access to cash value through policy loans or withdrawals. Policyholders can adjust their coverage and access funds for various financial needs, such as supplementing retirement income or funding education expenses.

It's essential to understand that Indexed Universal Life insurance policies can be complex financial products, and their suitability depends on individual financial goals, risk tolerance, and understanding of the policy's features and limitations. Consulting with a financial advisor or insurance professional can help determine if an IUL is the right choice for your financial needs and objectives.

Farm insurance typically provides coverage for the physical structures on the farm, such as barns, equipment, and machinery, as well as coverage for livestock, crops, and liability protection for farm operations.

Even small hobby farms can benefit from farm insurance to protect against unexpected events like property damage, liability claims, or injuries to visitors. It's essential to assess your specific risks and coverage needs with an insurance agent.

Farm insurance is specifically designed to cover the unique risks associated with agricultural operations, while homeowners insurance typically excludes coverage for farm-related activities and structures beyond certain limits. Farm insurance provides broader protection tailored to farming operations.

Farm insurance can provide coverage for farm vehicles such as tractors, trucks, and trailers used in farm operations. Coverage may include liability protection, physical damage coverage, and coverage for equipment attached to the vehicles.

Liability coverage is essential for farms to protect against lawsuits arising from bodily injury or property damage resulting from farm operations, accidents involving visitors, or product liability claims related to farm products.

Yes, farm insurance policies often allow for customization with optional coverage endorsements to add protection for specialized equipment, outbuildings, irrigation systems, or other unique aspects of your farming operation.

Farm insurance can cover a wide range of farming operations, including crop farms, horse farms, livestock farms, dairy farms, poultry farms, orchards, vineyards, and hobby farms. Coverage can be tailored to the specific needs of each type of farm.