There are a wide variety of life insurance policies available today, the most basic being term insurance and permanent insurance. Within these two categories, however, there are several different types of policies to choose from. Familiarizing yourself with the differences can help you better customize the specific coverage to meet you and your family’s unique needs. Here are some guidelines to help you determine which is your best life insurance option.

Term Life Insurance

Term life insurance is the most basic type of life insurance, as it offers only death benefit protection and doesn’t build up cash value within the policy. Term life insurance is generally very affordable, especially if you are young and in good health at the time you apply for coverage. Coverage is purchased for a set length of time, such as ten, 15, 20, 25, 30 or more years. Many insurance carriers offer a 1-year renewable term option. The premium amount typically remains the same while the policy in force. Once the coverage expires, you will need to re-qualify for a new policy at your current heath status and age to continue coverage, generally at a much higher rate, however, some policies may offer the option to convert to a permanent life insurance plan. If your financial needs may change, you can purchase a “convertible” term policy, which allows you to convert it to permanent insurance coverage without a medical examination in exchange for a higher premium.

Permanent Life Insurance

Permanent life insurance offers death benefit protection as well as cash value. Unlike term life insurance, it doesn’t have a time limit and is intended to last for the remainder of the insured’s life, as long as the premium is paid.  There are several different types of permanent life insurance:

• Whole Life Insurance – The most simple permanent life insurance coverage. The premium amount it set for the entire length of the policy, no matter your eventual age or health. The cash value component grows on a tax-deferred basis, can be withdrawn at will, and is only taxed when withdrawn. Some policies include tax-deferred dividends as well. 
• Universal Life Insurance – More flexible than whole life, you can choose how much of your policy goes toward the death benefit and the policy’s cash value. Cash can be withdrawn for a variety of reasons, including debt payoff, retirement income or vacations.  
• Variable and Variable Universal Life Insurance – Offer a variety of different options for investment, such as equities or mutual funds. They have the possibility of growing more quickly, but also can be more at risk depending on the movement of the market. 
• Survivorship Life Insurance – Covers more than one person. With a “first to die” policy, the coverage pays out when the first person dies. “Last to die” policies pay out when the second covered person passes away. This coverage may be less expensive than separate policies, especially if one of the people is in good health.  
• Final Expense Life Insurance – Also known as “burial insurance”, this coverage is typically purchased by seniors between the age of 50 and 85. This coverage ensures that your survivors aren’t burdened by costs related to your burial, such as headstone, flowers, and memorial services. 
• No Medical Exam Life Insurance – Doesn’t require a medical examination during the underwriting process, but is generally more expensive. 

Do you have questions about your life insurance needs? San Marcos Insurance Group is here to answer all your questions and point you in the right direction. Give us a call if you live in Chandler, AZ, and want more information about which life insurance policy will best serve you and your family’s needs best.   
 

Businesses benefit from insurance, in crisis situations, which threatens its existence.  Also, your landlord may require coverages to protect the landlord’s property. San Marcos Insurance Group Chandler, AZ will take care of your business, protecting you and your clients or customers.   

Business Owner’s Policy

This policy is your Business-saver insurances which is a combination of general liability and property insurance.  General liability will cover injuries to third persons on your property but no injuries to employees.  If there is a personal injury including damage to one’s reputation to a client or customer or the business, the General liability insurance will cover:

*   Lawyers’ fees.
*    The damages you owe the client.
*    The client’s or customer’s medical bills.
*    Any and other lawsuit costs.

It there fires your property insurance will cover all business property which would include desks,  chairs, computers, and any business fixtures. General liability does not cover:

* Damage to your property.
*  Employee injuries.
*  Employment disputes.
*  Damage to your vehicles.
*  Professional mistakes.

Fidelity and Crime Insurance
Covers employee fraud and dishonesty

Business Car Insurance
Business purpose only

Workers Compensation Insurance
Arizona’s Workers Compensation legislation is based upon  "no-fault" regulations.  "No-fault"  means that if an employee is injured on the job, it does not make a difference as to who caused the injury or if the damage was caused by the injured worker’s bad performance.  The injured worker cannot make a legal claim to a court and file a lawsuit against his employer, or another employee.  The compensation for the employee’s injury is limited by the rules and regulations of the Workers Compensation payment rates.

San Marcos Insurance Group Chandler, AZ, our staff is experts in this area of business or commercial insurance.  Please call!

When you first founded your business in Chandler, AZ, you didn’t need commercial insurance. Maybe you assumed you would never need insurance for your company. A lot of people start a side gig as something to help make ends meet or keep them busy on weekends, and before long, that side gig has become their main gig, and then it goes from being just a job to being a real piece of the Southwestern economic landscape. It’s sort of a mixed blessing when something that started as a hobby you pursued in the garage becomes an honest to goodness business.

So you call San Marcos Insurance Group to get coverage. You’re taking on employees and business risks, so you need to get covered. But your company just keeps growing, and it seems like once a year it’s time to call your people again and boost your insurance.

Eventually you have to make the decision as to whether you want to keep growing. It’s not just the insurance costs, it’s all of the extra responsibilities that come with a thriving business. Eventually you have to hire a legal team, IT guys, customer service reps and so on.

If you want to ride your growth as far as it will take you, just don’t neglect your insurance. When you deal with San Marcos Insurance Group, they can help to connect you to an insurer who will cover your Chandler, AZ business and bear in mind that you might not be done growing, that you could be on the phone again next year, next month, or even next week to ask for a new deal.

Most business owners have their hands full when it comes to making decisions throughout the day. In fact, the fatigue that many owners feel when they’re faced with so many choices often causes them to skip over the details and consequences of those choices. But a commercial insurance policy in Chandler, AZ isn’t something to just skim over and forget about. Find out more about the basics, so you have both eyes open before you make a crucial decision for the future of your company. 

Commercial Insurance Protects 

The bills you pay to keep your company running are likely all fairly straight-forward. Your electricity bill, water bill, property taxes: they all blend together after a while. But commercial insurance is there to protect the property and people of a business. The more you do and the more people you work with, the more liability you carry. When you take out a policy that protects you from lawsuits and thunderstorms alike, you may find yourself in a much better position should anything go wrong. The support you get from a company like San Marcos Insurance Group is meant to support and safeguard a business from as many angles as possible. 

Choosing a Partner 

From natural disasters to a run-in with a burglar, San Marcos Insurance Group is here to make it easier for business owners to keep their organizations from going under. Just one major event can cause a company to go past the point of no return, and we don’t want to see that happen to you. Our staff can ask you the right questions before pointing you in the best possible direction. Give us a call if you live in Chandler, AZ, and want to learn more about which commercial insurance policy will best serve your needs.  

At San Marcos Insurance Group, we are often asked about health insurance policies. Many people in the Chandler, AZ area wonder if they can insure just their kids under a policy, or if they have to insure themselves as well under that same policy. Here is some information you should know if you have this question.

If you are looking to only insure your child, it has gotten hard to find child only health insurance policies since Obamacare came to pass. This is because everyone is required to carry health insurance now, so theoretically, your child should be covered under the same plan that you are. However, this is not always the case. If you are looking for a child only policy, they are still available, but fewer insurers are offering them. As such, you may need to spend more time looking for them than you used to. You may also have to show that you are enrolled in a health insurance plan in order to enroll your children in a different plan. Also keep in mind that your children may be eligible for state run insurance, so be sure to look into that if you are looking for health insurance for just your children.

If you are looking to purchase a health insurance policy in the greater Chandler, AZ area, call San Marcos Insurance Group. We are an insurance brokerage firm who can help you with a wide array of insurance policies, including health insurance. We can help you find the right insurance policy for just your kids, for yourself or for your entire family. Give us a call today to get started and get the health coverage that is needed for your household.

What would you do if your business were destroyed by a fire or storm? Having sufficient commercial property insurance could offer you security during times of crisis. The San Marcos Insurance Group in Chandler, AZ understands that you cannot keep your business going after a disaster unless you are supported with the proper business insurance.

What to Do for Your Property Insurance

Take an inventory of your business items, including equipment, material, as well as the buildings specs. When you go to your insurance agent to set up property insurance, let them know whether or not you own the property. If you are renting space, some landlords may require you to have a certain minimum amount of coverage according to your rental agreement.

What Commercial Property Insurance May Cover

Depending on the type of coverage your policy details, you may have all of the following included if you need to file a claim:

• The building and the windows
• Any signage that is damaged
• Desks, chairs, and other office equipment
• Landscaping and any fencing

Additional Coverage to Consider

Because commercial property insurance normally covers only property that is at one specific business location, you may require additional coverage such as Business Interruption Coverage or Electronic Data Processing Insurance.

Business Income Interruption is optional insurance that covers lost profits and expenses while your business is closed. If you need time to remodel because of a flood, you may be able to use your business interruption insurance to replace your lost income.

Electronic Data Processing, or EDP, is property insurance that has to do with protecting computer data related to your business. Commercial property insurance has a limited policy concerning electronic data, so adding EDP you have a better chance of being covered if your system is compromised.

If you are in the Chandler, AZ area, walk into the offices of the San Marcos Insurance Group. They have knowledgeable professionals that can help you with your commercial property insurance.

Life insurance is a complicated thing if you do not know what you are looking at. For those that are looking into naming a beneficiary, there are some qualifications that you should consider. For those that live in the Chandler, AZ area, the agents with San Marcos Insurance Group can help you to find the answers that you need.

When it comes down to it, anyone can be named as the beneficiary on an insurance policy. The hang up is that you must have their social security number, address, and their legal name. You must also provide these same details for yourself. There are some full stops that keep people from randomly taking out insurance policies on you without your knowledge. Any insurance policy is going to require a signature of the person whom the policy covers.

This means that if you are taking the policy out on yourself, you simply provide your own information and then sign and name the beneficiary. If you feel that the beneficiary might be challenged, you should take your documents to a notary public that can stamp and date them and prove that both parties were present when the policy was signed.

 In most cases, an insurance company does not care who is named a beneficiary. You do however need to make sure that your beneficiary knows that they have been named and that they have access to any pertinent paperwork or information that they may need to actually collect the policy. Since insurance does not require that you be related to the person you name as the beneficiary, you want to take your time selecting them. For those in the Chandler, AZ area, the agents with San Marcos Insurance Group can help you find the perfect policy.  

In Chandler, AZ, the agents of San Marcos Insurance Group can help their clients work through the process of determining how much of a deductible they need to make their auto insurance policy affordable. Deductibles can range from $500 to $5000 in some areas. The type of insurance, the book value of the vehicle, and the estimated amount of the monthly premiums all need to be taken into consideration. When you are choosing the level of your deductible, you need to look at how much money you have on hand to make repairs if an accident does occur.

Deductibles are a specific amount of money that you decide to pay before your insurance coverage kicks in. Because it reduces the amount of money your insurance company has to pay out, each level of deductible will reduce your monthly premium by a specific percentage. Some insurance companies offer what is known as a vanishing deductible, which means the amount of the deductible is gradually reduced for each year the insured goes without having an accident or traffic citation. While these seem like a good idea, they do have their drawbacks. Before choosing a deductible amount, the insured should carefully consider how much money they are willing to pay out before making a claim.

Residents who live in communities and neighborhoods near Chandler, AZ can talk to the agents of San Marcos Insurance Group if they have questions about their auto insurance deductibles and how to keep them under control. The agents can help you determine what type of deductible will work best for your particular situation and will help you build a policy that suits your exact needs. Call the agents of San Marcos Insurance Group today and let them guide you through the deductible process.

In Chandler, AZ, agents of the San Marcos Insurance Group can help to identify potential problems within a policy that may pose a problem for drivers who may not have fully read it in its entirety before signing it. It is important to read through a policy completely before agreeing to it. Policies often contain a variety of stipulations that will allow a driver to be dropped if certain things occur. Many of these events may be out of their control. Take a few minutes and review your policy so you understand what is and is not covered. The following list contains a few reasons why policies get canceled.

• Too many tickets in a one-year period of time
• Too many accidents in a one-year period of time (Even if the accident is not your fault, it can work against you.)
• Too many late payments or cancellation notices
• Not maintaining a valid driver’s license
• Excessive, non-accident related claims

At the San Marcos Insurance Group, residents of Chandler, AZ can find the answers they need when it comes to professional service and quality auto insurance. Agents at the office are able to answer questions and put the right insurance policy with the right person at an affordable rate. Every state requires its residents to carry at least a minimum amount of car insurance. Don’t let your insurance lapse due to an oversight or because you didn’t realize you were not meeting the requirements of the policy. Call our office today and get the answers you need to remain insured and financially protected from loss. A few minutes with one of our agents will get you back on track.