How much life insurance is enough

No beneficiary of life insurance has ever said, "Wow, they had too much insurance". But how much life insurance is enough? There is a fine balance between the amount of life insurance that will protect your family and the amount you can afford to have. You need to consider several factors when coming up with the perfect amount. Your independent insurance agent can help you to determine that amount and help you find a policy to fit your budget. If you live in or near Arvada, CO, at Alliance Insurance Services we have spent almost 30 years building strong relationships with our customers 

Debt

No matter what your age, you should have enough life insurance to pay any debt you have. Obviously, your debt may fluctuate and isn’t the same at all periods of your life. Somethings are static, however, like a mortgage payment. If you always have a car payment, keep that in mind as well. Included in this figure should be enough money to pay for your final expenses which depending on what you want can be quite expensive. 

People who count on you

When you are younger, it can be elderly parents or a sibling who you are helping out. As you mature it may increase significantly when you marry and if you have children. When your children are young, losing a parent will be devastating and even more so if they can’t continue to live in the home they are used to. The age of your children affects how much life insurance you need. 

Considering these things, experts recommend 7-10 years of income in life insurance. The amount you will need is directly related to your yearly income. As your children grow up and move out, you can reassess the amount of life insurance you need. 

Contact Alliance Insurance Services in Arvada, CO for your life insurance needs.

What is included in my commercial insurance plan?

When you are in the Arvada, CO area and want to be your own boss, starting a company could be a great option. Those that are small business owners here can succeed if they are diligent and do their best to protect the business. A great way that any business owner can protect their company is by getting a commercial insurance policy. This insurance includes several types of insurance protection. 

Protection for Liability

An important form of coverage that will come with any commercial insurance plan is protection for liability. A small business owner should be aware that they have a variety of commercial liability risks. If you are found liable for the losses of another party, it could be very detrimental for your business. Fortunately, you can mitigate this by getting liability insurance through your commercial insurance plan. 

Protection for Company Assets

When you get a commercial insurance plan you are also going to receive protection for your company assets. A business today may need to invest a lot in commercial assets to get the company off the ground. If you were to lose these assets to damage or theft, the impact could be very significant. Fortunately, when you invest in a commercial insurance plan you are going to receive the protection needed to repair or replace these items.

Anyone that would like to get a commercial insurance plan in the Arvada, CO area should call the insurance team at Alliance Insurance Services. There are a lot of reasons to speak with Alliance Insurance Services as they can help you understand your needs and options and answer any questions that you have. This support can then help you build a policy that will provide you with ideal coverage for your situation.