Bundling your business indurance coverage

Business insurance is complicated because of the many issues involved in creating coverage for business owners. One solution is the Business Owners Policy, or BOP, that combines protection from all the areas of risks and liabilities in one package. The JC Demo Insurance Group in Matthews, NC can help you determine the level of coverage our business needs. You can get the whole package or any part of the package that you decide you need.

The policy starts with coverage for the building and contents. If you don’t own the building, you would still need contents coverage. There is also specialized coverage for certain types of content coverage.

The BOP also includes business interruption coverage which covers the loss of income if you are unable to operate your business. If there is a fire or some other catastrophe that stops your business from operating, you would have your income covered. It can also cover the costs of operating from another location.

A third part of the package is liability coverage. This would be a basic liability policy covering things like accidents where people get hurt o your property. It would also cover you for any liability from a product you made that was used off the property.

 A business owners policy does not cover auto insurance, workers compensation or health insurance for employees. Those would have to be bought separately but could be included in your overall portfolio of coverages.

Bundling your coverages like this can save you some money. They also offer you a lot of flexibility as you can mix and match portions to your needs. Stop by or call the JC Demo Insurance Group in Matthews, NC to learn more about getting insurance for your business. We can help you understand all your options and help you get the best insurance for your situation.

 

 

What does life insurance cover?

Life insurance is an asset that some take for granted in Matthews, NC. It is not until the unfortunate happens, though, that an indemnity plan as such becomes an absolute treasure. You should understand the details of any assurance plan before agreeing to pay a monthly premium.

An agent from JC Demo Insurance Group can help you determine which indemnity policy works best for your lifestyle. Read this article about the basics of life insurance before scheduling your meeting!

What is life insurance?

Life insurance is a plan that allows you to have a bit of serenity. A life assurance policy pays for your final expenses so that your loved ones do not have the extra burden of trying to figure out how to cover funeral costs and other bills. A life indemnity plan may also cover lingering expenses such as mortgage payments and credit card bills left behind after a death.

The best life insurance policy provides enough financial support for family members to survive after an individual’s untimely death in Matthews NC. Such is the reason why some breadwinners choose to pay higher premiums for more coverage.

Call us for help!

There are various stipulations in a life assurance plan that could lead to forfeiture of coverage. Such is the reason why it is important that you speak with an agent from JC Demo Insurance Group before agreeing to a policy that may not fit your lifestyle needs.

An agent can help you understand the criteria used to determine your monthly premium amount. He can also explain your responsibilities as a policyholder. Call JC Demo Insurance Group today for a life insurance quote that gets you headed in the direction of better financial security in Matthews, NC!

Can Anyone be a Life Insurance Beneficiary?

Although you can name practically anyone to be the beneficiary of your life insurance policy, it only makes sense to select individuals you want to help financially after you’re gone. Life proceeds can provide financial support to one or more people for years to come. By choosing wisely, you can ensure these funds are put to excellent use. If you’re unsure who to select as a beneficiary, consider the following:

You Can Choose More Than One Beneficiary

You can choose more than one beneficiary to receive proceeds from your life insurance policy. You can divide proceeds evenly between your beneficiaries or designate the percentage you want each beneficiary to receive. Having control over the distribution of life benefits makes it easier for you to help loved ones in Matthews, NC in the way you feel they need it most.

Beneficiaries Can Be Primary or Contingent 

Your primary beneficiary is your first choice for receiving life proceeds upon your demise. This can be one or several people. If all your primary beneficiaries expire before you do, life benefits automatically go to your contingent (or secondary) beneficiary, which may be one or more people as well. Having both primary and contingent beneficiaries ensures funds are distributed the way you want.

Beneficiaries can be Revocable or Irrevocable

A revocable beneficiary can be replaced if you change your mind later on. An irrevocable beneficiary cannot – unless he or she gives consent. If you purchase a life policy when you’re young, it may be to your advantage to designate your beneficiaries as revocable as it gives you a chance to reconsider if your situation changes later down the line.

A life insurance policy from JC Demo Insurance Group can provide financial security for loved ones after you’re gone. For greater insight into life insurance options and costs, contact JC Demo Insurance Group in Matthews, NC.

How do I know if I need business interruption insurance?

When you choose a commercial insurance policy at  JC Demo Insurance Group, you get a lot of options. You know the obvious needs of your small business in Matthews, NC, such as property insurance and general liability. You may need business auto insurance or worker’s compensation.

You may not realize how vulnerable you are if you don’t also have business interruption insurance. Before making your final decision, you should consider the kinds of expenses covered by this sort of policy and when it comes into effect. 

When does a Business Interruption Policy start working?

Nobody wants to think their business could be the victim or a disaster, but it happens all too often. A fire, vandalism or a natural disaster could cause your business to stop operations.

During that time, your creditors, vendors, utilities, and others will still expect you to meet your responsibilities. Money won’t be coming in, but it will continue to go out.

What kinds of expenses your Business Interruption Policy will cover

Your policy will protect you for the amount of money you would have been able to earn, based on your financial records, if you were doing regular business. That means that if you have a Business Interruption Policy, you will still be able to pay

  • Utility bills
  • Employee wages and benefits
  • Payments on your property, whether a mortgage or rent
  • Taxes
  • Other regular business needs.

Even a short outage could cause you to lose customers forever. In the meantime, you will be dipping into savings or scrambling to pay the bills.

You want to protect your Matthews, NC business from any serious losses. If you think this kind of policy could benefit you, feel free to call JC Demo Insurance Group today to discuss your options.

3 Reasons Why Young People Need Life Insurance

Chances are, if you’re in your 20’s or 30’s, you’re not sure why you should buy life insurance. But purchasing this type of coverage while you’re young carries many benefits. In order to protect your young family and try your hand at investing, here’s why you should buy life insurance in Matthews, NC.

1. Pay Off Loans In Case Of Death

Since you’re still young, you may feel invincible. You’re not immune to death, however. Unfortunately, if you should die young, your debts will not die with you.

If you have student loans, for instance, they can’t be forgiven, even if your family demonstrates that you cannot pay them back. In the case of your passing, your next of kin would automatically adopt those debts.

If you purchase life insurance from JC Demo Insurance Group, though, you can opt for a policy that would pay your debts off.

2. Protect Your Business And Family

As the breadwinner of your family, what would happen if you suddenly passed away?

In an instant, your family would lose its main source of income. On top of lacking money to live off of, they would have to cover your burial expenses.

Buying life insurance while you’re young provides a financial cushion for your young family Not only would your funeral expenses be covered, but your family would get enough money to tide them over in the wake of your sudden death. They can have an income to tide them over as they get back up on their feet.

3. Life Insurance As An Investment

Have you ever thought of life insurance as an investment?

As a young policyholder, you can profit from this investment. Certain life policies can offer you payout’s even while you are alive. Those life policies can be used as a loan of sorts; you can borrow against them in order to pay off your other possessions, such as your home or car.

Building enough equity through your life policy to make it a viable investment requires you to hold the policy for many years. The younger you are when you purchase your policy, the better an investment it will be for you in the future.

Are you ready to future proof your life while you’re still young? Contact a friendly JC Demo Insurance Group agent to determine what policy works best for you. Purchase a life insurance policy in Matthews, NC today.

Three Insurance Mistakes That Put Your Business At Risk

Like most business owners, chances are you’re constantly looking for ways to cut unnecessary expenditures from your budget. But when it comes to your business insurance, cutting corners can be costly. Here are the top three costly insurance mistakes JC Demo Insurance Group has found many business owners make when it comes to their insurance coverage. 

Lack of Risk Management Strategies 

With proper risk management programs in place, you can lower your insurance premiums. Preventative strategies such as installing a central burglar alarm, using security cameras, updating older buildings, and using client contracts can reduce your Property, and General Liability premiums, and reduce E&O lawsuit risks.  

Paying For Unnecessary Insurance Policies 

Spending money on something your business doesn’t need is like putting cash in the trash. Every business is not alike and does not have the same insurance needs. When you work with an agent who is experienced with your type of business or industry, they already know the risks you face and can tailor your coverage accordingly. Smart business owners don’t pay for coverage they don’t need and maximize the coverage of insurance they may need for unforeseen events.  

Not Updating Your Insurance Plans 

Changes in your business, even small changes, can affect your insurance policy coverage and needs. If you don’t update your policies to reflect those changes, you could either be lacking in crucial coverage or be paying too much for coverage you no longer need. If you move to a new location, hire or fire employees, start offering new services, or invest in expensive new equipment or real estate, you will probably need to amend your policy to reflect those changes. In general, even if you think you haven’t made any significant business changes, you should have your insurance plans reviewed every six months to a year.  

Talk to your Matthews, NC business insurance experts today about the safety measures you can implement to protect your business and assets. At JC Demo Insurance Group, our agents can steer your business in the right direction and ensure you have the coverage you need. 

Top five trends in life insurance 2018

Often at times, planning for death may sound bizarre. The fact of the matter is, death is inevitable and it’s important that an individual plan for it. It is for this reason that one should consider getting a good life insurance policy.

With 2018 slowly coming to an end, there have been a number of key trends in the life insurance industry which will definitely affect both customers and insurance companies. Here are the top five trends that have had a vulnerability in 2018.

1. Use of cloud computing

Most millennial have kept off from getting a life insurance plan due to the hustle in getting all the required details. This process has been thought to exhausting and time-consuming. With the introduction of cloud computing, most information required will be easily accessed.

2. The internet advantage

Previously, most steps in getting an insurance cover required a physical meeting between the insurance agent and customer. The internet has however improved convenience since you are now able to purchase an insurance plan from the comfort of your home.

3. Automated underwritings

Introduction of automation tools in the insurance sector has improved customers satisfaction with insurance agents effectively interacting with customers and automatically tracking changes in their underwriting details.

4. Incorporation of the blockchain.

Integration of blockchain in the life insurance industry has led to the provision of a more transparent system for both insurance agents and clients. In addition, it has made the process more flexible and improved security with its audit-ability technique.

5. Multi-channel access

With the fact that most customer needs are digitally inclined, insurance companies have had to embrace the use of smart and seamless was in order that their customers can easily follow through their plans and get the opportunity to regularly update their details from anyplace.

At Matthews, NC, JC Demo Insurance Group, we offer a wide range of life insurance options to both new and existing customers. Call us or visit us today so that we can provide advice and solutions in regards to the 2018 life insurance trends which will be of great benefit to you.

Make Sure Commerical Insurance Covers Business Interruption

Property damage is an obvious risk from natural disasters like hurricanes. Less obvious is damage that can be caused by business interruption. Even if the commercial building for the business is not damaged, the lack of electricity for extended periods, after a natural disaster, can cause such a severe loss of business revenues that the business may fail unless it has adequate business interruption insurance.

The good people at JC Demo Insurance Group, serving Matthews, NC, and the surrounding area, know very well about the impact of hurricanes on the businesses in the state of North Carolina. They highly recommend that all businesses conduct a commercial insurance review to make sure they have adequate coverage. Business interruption insurance is an important part of their overall protection.

How does business interruption insurance work?

Business interruption insurance is meant to cover the expenses that continue during the period when a business is forced to stop operations. Some expenses are variable and can be paused while the business is not operating. Other expenses are fixed and continue if the business is operating or not.

Work with your insurance agent to separate the business expenses into those two categories to make a monthly estimate of those expenses that must be paid and cannot be stopped.

The next part of the estimate needed for adequate coverage is making an educated guess about how long a business will be forced to stop operating. Minor emergencies, such as street repairs that block customers from being able to enter the facility, are less challenging. Major natural disasters are able to stop a business from operating for many months.

It is bad enough when the area where your business is located suffers severe damage caused by a natural disaster. A wise business owner has business interruption insurance so they do not also lose their business in the aftermath. Contact your agent at JC Demo Insurance Group in Matthews, NC to get a quote.

What Do I Need to Make a Life Insurance Claim?

When a loved one passes on during the term of their life insurance policy – this means the policy didn’t mature – any of the named beneficiaries can claim the proceeds. The claim is known as ‘Life Insurance claim’ or ‘death claim.’ At JC Demo Insurance Group, we can help you with your life insurance claim in Matthews, NC.

How to make a life insurance claim

The most crucial step you must take is to inform the insurance company about the death of the insured. According to insurance companies, there are two main classifications of death – ‘early death’ as well as ‘non-early death.’ They are based on the time the insured took the policy. An early death means the insured died within 3 years of acquiring the life plan.

The papers required to file a death claim for these two types of deaths can vary depending on the insurance company. So, make sure you approach the insurer to get the claim intimation form. You should also ask them to clarify more about the documents you need to provide for the claim.

Document checklist

Usually, a life insurance claim requires these documents:

  • The original policy document
  • The death certificate
  • Police FIR (if an unnatural death occurred)
  • Hospital records (if the deceased passed on due to an illness)
  • Medical certificate (to show cause of death)
  • ID proof of any beneficiary
  • Discharge form
  • Post-mortem report (if an unnatural death occurred)

Being a claimant, you need to make a claim immediately after the insured dies. Ensure you have all the required documents too. Once you submit the claim, the insurance company should issue a settlement shortly. But, you must determine how the funds will be distributed.

JC Demo Insurance Group has been offering numerous insurance services to Matthews, NC residents. Contact us for more information about life insurance and the claim process.

 

Can I get insurance to cover times when my business is closed through no fault of my own?

Business owners in Matthews, NC know that there aren’t any guarantees when it comes to predicting how much business you will do in any given time. Some variation is normal, but a real business stoppage could seriously harm the business. At  JC Demo Insurance Group, we help small businesses that need this kind of protection. 

Why Do Business Stoppages Happen? 

Changing seasons bring in different kinds of customers, and sometimes of the year may be very quiet, especially with certain types of businesses. But sometimes a real catastrophe occurs, and the business really has to close until the situation changes. 

A catastrophe includes acts of nature, like an explosion, a tornado, a big winter storm or a tropical storm. Even a fire could cause you to suspend business operations while you take care of rebuilding or moving. 

Expenses Keep Piling Up

While your business is closed, the bills keep coming in. You still need to pay your mortgage, utilities, and other regular bills. 

You will also need to deal with your employees in some way. They can’t do with the loss of income either, as their own bills will still keep come in.

How Much Business Interruption Insurance Do You Need?

Some businesses can be moved to a temporary location while the main problem is dealt with. In those cases, you might not need as much protection. 

Whatever you do, keep good records. The amount you can claim will depend a lot on how much your business loses by being closed. 

A business interruption insurance policy in Matthews, NC is usually part of a commercial insurance package. Call  JC Demo Insurance Group today to make sure your business has the protection it needs.