Why should I get a life insurance policy?

People that are in the Matthews, NC area need to spend time considering all of their personal insurance needs. One important form of insurance coverage that they need to get is life insurance. A full life insurance plan offers financial protection to your dependents. There are a few reasons why you need to get this insurance coverage when you are here. 

Protect Your Dependents

A key reason to get life insurance when you are here is that it can protect your dependents. When there are loved ones that rely on your and your financial resources, you need to make sure that they have financial resources if you happened to pass away. When you get a life insurance plan, you are able to build it to ensure they have the necessary protection to live the same lifestyle. 

Alternative Investment Option

You can also use life insurance to invest in your future. With whole life insurance, you will get the life insurance benefit to provide coverage and can also use the policy as an investment. With each payment, some of the money you spend will go into an account that will build in value slowly over time. Eventually, it can be liquidated and used for any purpose that you want. 

Getting life insurance is important for anyone that is in the Matthews, NC area. If you would like to learn more about your life insurance needs and options, it would be a good option for you to call JC Demo Insurance Group. Picking a quality insurance plan can seem very complicated and the team at JC Demo Insurance Group can make it easier for you. They are able to do this by assessing your needs and helping you build a plan that meets your needs. 

Required Commercial Insurance in North Carolina

When you have a small business or even a larger one, there are certain types of insurance that the state of Kentucky requires you to have. There are two main types required in Kentucky, but there are many other types of commercial insurance that comes recommended but not required. Call us at JC Demo Insurance Group in Matthews, NC to find out more. 

Workers’ Compensation Coverage

This is a type of insurance that business owners must have if their business has three or more employees. It doesn’t matter whether they are full-time or part-time. This insurance policy pays employees’ medical bills for injuries and sicknesses that they get while in the workplace. With this insurance coverage, you can protect your business against hefty medical bills that could place your business in financial trouble. 

Commercial Auto Coverage

For North Carolina businesses, every vehicle that the business owns must be insured with a commercial auto policy. This policy provides several different types of coverage, and the state sets the minimum amounts for each of these coverage types. The state sets mandatory minimum amounts for several types of auto coverage that must be met. There is a specific amount that must be met for injury liability for one person as well as another amount for injury liability for everyone who was injured in an accident. There is a set amount required for your property damage liability. Another minimum amount is required for uninsured motorist coverage for one person who was injured. Another amount is mandated for everyone injured in the accident. There is also an amount required for uninsured motorist property damage for the entire accident. 

Get Your Commercial Coverage

If your business needs these or other commercial insurance policies, contact us at JC Demo Insurance Group in Matthews, NC to talk with an insurance agent. 

What is a business owner’s policy?

What is a business owner’s policy?

While North Carolina law does not require your Matthews NC business to carry a commercial insurance policy, JC Demo Insurance Group wants to explain why purchasing a business owner’s policy (BOP) provides you the financial protection you can’t afford to miss.

A BOP provides you with the three most common business insurance types in one policy. You save money since the premium costs less than purchasing the coverages separately. You need business insurance to protect you from business loss caused by named perils, the insurance term for weather events such as a tornado, hurricane, hail, etc. a BOP also protects you in liability issues such as if a customer slips and falls in your store, injuring themself. Finally, the BOP protects you from business interruptions such as closure while repairs from a fire take place.

If you apply for a business loan or try to land venture capital or angel investor funding, your insurance will comprise one of the top things they ask to see. Others include your business plan, business continuity plan, and your marketing plans.

A BOP from JC Demo Insurance Group includes business interruption coverage, liability coverage, and property damage. This provides businesses of any size or type from solopreneur to corporation with the essential coverage to protect their financial health as well as their physical business property.

While a BOP does not fulfill the needs of every company, you can find out if it fits your business’ needs by contacting JC Demo Insurance Group today. We serve the Matthews, NC area with the business insurance it needs to protect the economy. Talk to your agent today to learn if you could benefit from a BOP policy or if you need other types of business insurance such as a boiler policy or glass insurance.

5 Benefits of having a life insurance policy

Having life insurance is an essential lifetime financial strategy. Besides protecting your loved ones from financial distress when you pass on, you can derive many benefits from the life policy while still alive. At JC Demo Insurance Group in Matthews, NC, we will walk with you on the various life insurance types and customize one that meets all your needs.

Benefits of life insurance 

  • Loan security

Your life insurance policy can act as security for loans in a bank. This could cater to such things as emergencies, school fees, or act as your retirement supplement. You don’t have to put your life investments on hold while saving for your life insurance policy.

  • Tax-deferred growth benefits

Holders of life insurance policies receive tax relief on their incomes. The tax relief can act as a source of income with the benefits being used for other investments.

  • Term benefits

Benefits from life insurance can be paid back on different terms. You can have these terms coincide with major life events such as your children’s graduation or for your planned wedding.

  • Debt payment

Life insurance benefits can be used to repay off your mortgage upon your demise. The benefits can also be used to pay for crucial expenses such as medical bills or your children’s tuition fees. This is essential as it lifts the heavy financial obligation on your loved ones.

  • Burial final costs

The burial costs could be overwhelming for your family. Life insurance benefits will ensure that you get a decent burial.

  • Family inheritance

To maintain your family’s current living standards, life insurance benefits can be awarded as a form of inheritance to your family members. Our agents at JC Demo Insurance Group will discuss the kind of life you want for your family upon your demise and the most appropriate sum assured.

Please visit our website or talk to our agents at JC Demo Insurance Group in Matthews, NC, on life insurance’s many benefits.

3 signs of a good commercial insurance plan

Your business in Matthews, NC is one of your most valuable assets. Why wouldn’t you want to have the best protection to prevent it from enduring financial turmoil? A commercial insurance plan is the best way to prepare for the unexpected. JC Demo Insurance Group can help you create an indemnity plan that is tailor-made to meet the unique needs of your company. Read on to learn about the three signs of a good commercial insurance plan. 

Sign #1: The policy covers income loss

You never know when an unexpected power outage will close your business for a day. A good insurance plan helps you prepare for such an occurrence by offering business income loss coverage. This indemnity option pays you for the sales you would have gained were it not for the unforeseen event closing your store. 

Business income loss is a good idea even when working from home. It only takes one bad Internet connection to thwart your workday. 

Sign #2: Natural disasters are included

A standard disaster in Matthews, NC is not included in a standard commercial insurance plan. You need to purchase additional coverage if you want to receive compensation for damage and loss related to flooding and fires caused by Mother Nature. 

Sign #3: General liability coverage is strong

Some entrepreneurs purchase just enough general liability coverage to satisfy the norm. You do yourself no favors by taking the cheap route when it comes to general liability insurance, though. It only takes one customer falling over one of your displays to cause significant financial hardship. 

It is important to note that not all commercial insurance plans are equal. Some business owners have employees and, thus, require workers compensation coverage. Other entrepreneurs are mobile services and, as such, require commercial auto insurance. 

An agent at JC Demo Insurance Group can help you find a commercial indemnity plan that best suits your company’s needs. Call them today to get started with a quote.

How Much Life Insurance Will You Need?

Death is not the most comfortable topic to discuss, but at times it is necessary. For those with dependents who count on you as their sole financial mode of support, you’ll need to get a life insurance policy. Purchasing a policy is easy in Matthews, NC. The agents at JC Demo Insurance Group can help you discover the amount of coverage you will need.

Life insurance is mainly about taking care of your family after you’re gone. How much you need will be based on your assets and the amount of debt you owe. For example, if you’re the primary breadwinner and you have an outstanding mortgage, auto loans, and credit card debt, you’ll need enough coverage to pay for all of those items, in addition to the funeral, burial, or cremation costs.

You should also consider any young children in your household. Do you need to provide for them for the rest of their lives? Not necessarily. If you can afford to do so, then yes, but otherwise they’ll need enough to get by on for a few months or maybe even a year. Think about it this way. If someone close to you died and you suddenly inherited all of their debt at once, you would feel completely overwhelmed. If that person had enough life insurance coverage to manage their debt, then you would not feel as though their death was a burden.

Talk it over with your insurance agent to find out exactly how much life insurance you need. At the JC Demo Insurance Group in Matthews, NC, their agents can help you get what you’re looking for so that you don’t have to worry about your family’s future. While you’re there you can also look into getting home, auto, or business insurance too.

Why you need life insurance

As we all mature, buy a house, get married, have children and grandchildren, and potentially start a business, the idea of obtaining a life insurance policy begins to take shape. Having a sound financial plan in place as you age is a good idea that will give you the peace of mind you need and deserve.

There are many reasons to obtain a life insurance policy and one of them is to protect our loved ones after we are gone from this earth. This is very important to people of all ages because even if you are a younger parent, your children need to be provided for in the event you die suddenly and unexpectedly. Money from your life insurance policy can provide the people who mean the most to you with the things they need, such as housing, childcare, and other essentials.

Many times when someone dies who had no life insurance policy in place, their family has to dip into their own savings or ask for assistance from the public for funeral expenses. If you have a life insurance policy, this can pay for your final expenses and possibly leave some amount as an inheritance for your children and grandchildren.

A life insurance policy can also alleviate debt that you still had when you died, such as a mortgage, vehicle loans, or credit cards. It is unfair to saddle your children or spouse with these types of debts when you die and by having a life insurance policy in place, you can have peace of mind in knowing everything will be taken care of when you pass away.

To create the best life insurance policy for you and your situation, you will need to enlist the assistance of an experienced life insurance agent. The staff at the JC Demo Insurance Group in Matthews, NC is ready to assist you with all of your life insurance needs. Call for an appointment today!

Is Your NC Business Disaster Ready?

Advanced planning is key to protecting your small business in Matthews, NC from disasters. You can’t keep disasters from happening, but you can take measures to minimize injuries and property damage at your business site. Here are a few suggestions from JC Demo Insurance Group on how you can ready your NC business for disasters.

Make a Disaster Preparedness Plan

A disaster preparedness plan can give you an edge in recovering from a disaster.  Designate a disaster coordinator to help create your plan and a disaster committee to help implement it. Your plan should cover such factors as employee safety, communications during and after a disaster, evacuation procedures during business hours, and business operations post-disaster. Rehearse your plan on a regular basis and update it when necessary to keep it relevant.    

Update Your Commercial Insurance

Assess the risks your small business faces in Matthews, NC and update your commercial coverage accordingly. Your property coverage should be sufficient to compensate you for damage to your building, equipment, and inventory. If your business has to close down temporarily for disaster repairs, business interruption can expedite your recovery by covering lost revenue, payroll, business loans, and other expenses to avoid financial loss. Talk to your JC Demo Insurance agent about other essential coverage you may need to recover from disasters.

Protect Essential Data

Protect your essential business data by backing it up on different devices and storing it safely in separate locations. This includes business files, financial records, customer and employee information, and other data essential to your business operations. Make sure this data is encrypted to prevent security breaches and that your encryption keys are only accessible to authorized personnel.

To purchase commercial coverage to protect your NC business against disasters, contact JC Demo Insurance Group today.

Why Matthews, NC Residents Should Consider Variable Life Insurance

For over 20 years, JC Demo Insurance Group has assisted residents throughout North and South Carolina through providing access to different types of personal insurance coverage. We use our standing as an independent agency to our advantage by establishing relationships in multiple markets around Matthews, NC. This allows us to meet the insurance needs of our clients regardless of their situation.

Consider Variable Life Insurance

JC Demo Insurance Group is aware that many people believe that purchasing life insurance is unnecessary. However, purchasing a life insurance policy is very beneficial to your future. There are some alternatives that you may consider, such as variable life insurance. Here is an in-depth look at variable life insurance and why that may be the best option for you.

A variable life insurance policy is an agreement involving you and the insurance company. Under the terms of the agreement, your beneficiaries will receive an outlined amount after your death. Variable life insurance policies also include a cash value that is based on your premiums and investment choices.

As the policyholder, you will have a large influence on how your premiums are invested. Primarily, you can choose to invest your premiums into bonds, stocks, or mutual funds. You can also choose to place some of your premiums into a fixed account. Putting some of your assets into a fixed account guarantees that they will accumulate a fixed rate of interest. The more money that you put into your premiums, the lower your expenses will be.

JC Demo Insurance Group Can Assist You

We are committed to providing excellent customer service to all of our clients in Matthews, NC and the surrounding areas. If you are interested in a variable life insurance policy, our agents will discuss all of the details with you, so that you can make an informed decision. Contact us at your earliest convenience or visit our website.

A Guide to the Types of Commercial Insurance

When you go into business for yourself, you have numerous things to accomplish including insuring the business against loss. This basic of business continuity requires knowledge of the many policy types though because commercial insurance offers a wide variety of kinds of coverage.

Typically, you obtain a business owner’s policy (BOP) to cover your liability and general damages to your storefront or office environment. You can purchase the components of a BOP separately as property and liability insurance. If you hire employees, you will also need workers’ compensation insurance. Otherwise, you will need specialized policies to cover various aspects of your business.

Here is what each policy type does. 

  • Automobile Insurance: provides liability and property damage coverages to the vehicles in your fleet and damages caused by your employees when driving a fleet vehicle.
  • Boiler and machinery insurance: also called equipment breakdown insurance, this covers repair or replacement of boilers, business machines, equipment plus pays for the business interruption losses.
  • Builder’s risk insurance: also called construction insurance, this covers your structure as it gets built.
  • Business interruption insurance: pays for the real property expenses resulting from a named peril as well as lost income.
  • Crime insurance: reimburses your business from loss from property crimes including burglary, robbery, and theft.
  • Debris removal insurance: this policy pays for removing debris following a named peril such as a fire.
  • Directors’ and officers’ liability insurance: Corporations and non-profits obtain this insurance to cover the costs of lawsuits involving their officers and directors.
  • Errors and omissions ("E & O") insurance: most common among manufacturing firms, attorneys, and medical practitioners as well as publications, it pays for failures or mistakes causing third party injury. The mistake must be inadvertent, not intentional.
  • Glass insurance reimburses you for the replacement of broken windows and plate glass on your commercial buildings.
  • Inland marine insurance: a typical insurance type for dry cleaners and shipping services, it pays for damage to property in transit and third party property at your business.
  • Liability insurance: pays for injury or damages to third parties. 
  • Malpractice insurance: also called professional liability insurance, covers losses stemming from third party injury due to a professional not meeting the appropriate standard of care. Also, it covers attorney fees.
  • Ordinance or law insurance pays to have a building demolished and rebuilt to code when the structure has been partially destroyed. 
  • Property insurance: reimburses you for damage to real or personal property.
  • Tenant’s insurance: a requirement of many landlords as a stipulation of a commercial lease, this policy covers repairing damages to the lessee’s improvements and building damages caused by the lessee’s employee negligence. This differs from renter’s insurance which covers your property and belongings.
  • Workers’ compensation insurance: this policy pays for medical care and time off from work due to injury or illness from the workplace.

Avoid the confusion by speaking with an insurance agent from JC Demo Insurance Group today. We serve the Matthews, NC area.