Should I Purchase Life Insurance for My Children

Life insurance isn’t just for adults. There are many policies available to for children, as well in Arvada, CO. In fact, purchasing life insurance for your children is a good idea for many reasons. The professional team at Alliance Insurance Services will help you find the right policy at the right price. Read on to learn more about the benefits of life insurance for children.

It Offers a Way to Save

When you purchase a permanent life insurance policy for your children, you will see its cash value grow slowly over the years. The owner can then borrow against the policy for cash or turn in the policy, which often includes a fee. This money can be used to help fund college and related expenses. Furthermore, the cash value of your child’s life insurance policy is generally non-taxable. The only case where it will be taxed is if you withdraw more than the premiums paid for the policy.

It Helps Your Child Qualify for Life Insurance Later in Life

While your child may be born healthy, they could develop a medical issue later in life that disqualifies them from purchasing a life insurance policy. To avoid this, it’s recommended to purchase a policy early in a child’s life. This way, you are locking in a policy that you can add to later on.

It Helps Cover Burial Expenses

If a child were to pass away, the life insurance policy you bought will help cover funeral expenses, medical bills, family counseling, and contribute to the financial stability of the family, especially if parents need to take time off from work.

To learn more about purchasing life insurance in Arvada, CO, contact the team at Alliance Insurance Services serving this area.  

 

 

What Types of Commercial Insurance Do I Need to Operate a Franchise?

Starting a franchise business is attractive for many entrepreneurs because the probability of success is higher than starting an independent small business. There are many factors that make a franchise have a better chance of success, which includes the capital requirements and a well-tested business model. Another thing that improves success is that the basic commercial insurance needs that are part of the terms and conditions of the typical franchise contract.

Working With Your Insurance Agent

Part of the analysis of whether a particular franchise business is a good choice when compared to another one is understanding all the actual operating expenses. When you are considering a franchise opportunity, it makes perfect sense to work with your insurance agent at Alliance Insurance Services, serving Arvada, CO and the surrounding area, to get quotes for the commercial insurance requirements.

Commercial Insurance for Franchise Operations

Commercial insurance is a broad category that actually includes many kinds of policies and coverage such as:

  • Workers’ Compensation Insurance: This protects your employees for on-the-job accidents and injuries.
  • General Liability: Every business needs to have coverage for general liability.
  • Product Liability: Any business that makes or sells products needs this protection.
  • Professional Liability: Professionals that are licensed to operate need to have this kind of protection, which may also be called malpractice insurance in the health care sector or errors & omissions insurance in the financial sector.
  • Property & Casualty: If the business rents or owns commercial property and/or equipment, this protection is needed.
  • Commercial Vehicle Insurance: Any vehicles used for business purposes, even if only occasionally, need to have this protection.
  • Business Interruption: This protection helps pay the ongoing bills if the business cannot operate for unexpected reasons.
  • Umbrella Insurance: This protection extends the policy limits of other coverage and may cover special risks that are not otherwise covered.

Contact your agent at Alliance Insurance Services in Arvada, CO to make an appointment. Bring copies of any franchise-operator contracts that you are considering, so you can discuss the commercial insurance needs and get a quote.