Month: August 2021

Whole life insurance is a type of insurance that is a part investment and part insurance. It is an interesting type of insurance that can be helpful to families in a number of ways. If you are interested in whole life insurance, contact us today at Alliance Insurance Services in Arvada, CO.

Death Benefit

Perhaps the simplest aspect to whole life insurance is its death benefit. This is the amount that is paid to your beneficiaries upon your death. When the policy is created, you choose a death benefit amount. This amount will determine the amount of your monthly premiums. Higher benefits mean higher premiums.

Cash Value

What often sets this type of life insurance apart for many is that the policy will build its own cash value over time. As time goes on, the premiums you pay for your insurance are invested by the company, and part of that income is reflected in a cash value for your policy. This is an amount that you can borrow against if you need to. Having a big financial emergency is made a lot easier to handle for many who have this kind of policy. 

Whole Life

The insurance company can’t cancel your policy no matter how old you get as long as you keep paying the premiums. Whole life policies are just that- they are good for your whole life. Keep your whole life policy in good standing and the death benefit and cash value will both be there when they are needed. 

Get Your Whole Life Policy

If you are interested in this type of life insurance, it’s a good idea to get started and lock in your premium price. Give us a call at Alliance Insurance Services in Arvada, CO to discuss this type of life insurance with an insurance agent. 

Getting commercial insurance in Colorado must be done to stay compliant with state law. There are two types of commercial insurance that are required for most small businesses, and there are other policies that come in handy but are not required. If you want to know more about helpful commercial policies, call us at Alliance Insurance Services in Arvada, CO.

Workers’ Compensation

Colorado requires every business of every size to have workers’ compensation insurance for each of its employees. This coverage is required for every business that has one or more employees. And, people who do work for the company are presumed by the state to be employees, and they have to have this coverage for them even if they are not signed on as employees. Workers’ compensation insurance pays for the bills due after an employee gets sick or injured while performing work for your company. 

Commercial Auto Insurance

Every vehicle that is owned by your business must be covered by a commercial auto policy. These policies come with a number of different mandatory minimums for several types of coverage. These include bodily injury liability and property damage liability. It is not required by the state to have this coverage for vehicles that you use for work but that are not owned by the company. However, personal auto policies generally will not pay out when there is an accident while you’re doing work tasks. In these cases, you need to get a type of policy known as hired and non-owned. 

Get Your Commercial Insurance Policies

If your business is required to have commercial insurance, don’t risk going without it. Not only could you end up owing money, but you could also end up with fines and fees. Give us a call today at Alliance Insurance Services in Arvada, CO to find out more.