Partnerships and Business Insurance

A partnership in Astoria, OR is a common form of business structure in small businesses. A step up from the sole proprietor or single owner type company, the partnership is both an ongoing agreement combining different owners as well a unique management form with its own set of rules. As a result, partnerships are not all exactly alike nor do they follow a default form. So when it comes to commercial insurance, a lot depends on how the partnership treats coverage, who needs it among the owners, how the partnership liability is shared, and who is responsible for paying the associated premiums. These details frequently need to be spelled out in partnership agreements in some form, whether combined with other expense responsibilities or in specific language of partnership responsibility.

While it’s easy to assume that a partnership would have equal parts, in many cases there might be majority partners and minority partners. Law firms in Astoria, OR are good example of this kind of ownership distribution. That in turn has an impact on both how much a given single partnership is responsible for coverage as well as how much he or she can depend on the others to provide their share of the same. Because nuances are common from company to company, it’s important for the partnership to work with a qualified expert like those at Linda Dugan Insurance. In many cases commercial insurance policies need to be crafted to match the specific details of a given partnership and the needs of the partners involved. General plans won’t serve the business well and will often create more problems than solve them. Call Linda Dugan Insurance for more information to establish the right commercial insurance plan for your partnership.



Term life insurance in Astoria, OR

If you are the main source of your family’s income, it is important to purchase a term life insurance policy as a means of planning and securing their future. Undoubtedly, no one wishes to plan for their death since the thought of it is scary but such planning can save your family from financial stress upon your death. 

Why you should buy Term Life Insurance
Life insurance helps in replacing your income once you die helping your family manages their living costs and pay any existing debts. Examples of these debts include house mortgages which can be fully settled using the money from term life death benefits. This will save your family from financial stress. Due to its low cost, term life insurance policy is the most dominant type of life insurance in current times according to Linda Dugan Insurance, Astoria, OR. 

Benefits of term life insurance
Term life insurance is a simple type of life insurance whereby you are aware of what your beneficiaries should expect. Also, this insurance is affordable since it offers large coverage for the lowest initial premium. The initial premium will also be fixed to ensure that they don’t alter before the end of your insurance term. Finally, the beneficiaries will receive a tax-free death benefit package if you pass-on during the term of your policy.

Term vs. Whole Life Insurance
Often, a question will arise on whether you should opt for whole life or term life insurance, but it all goes down to your specific situation. Notably, whole life is just one form of permanent life insurance, and you should review the situation at hand before settling on an insurance policy.

As seen above, purchasing a term life insurance is a good way of ensuring that your loved ones are protected from financial burden upon your demise. At Linda Dugan Insurance which is based in Astoria, OR, you will get to learn about the benefits associated with this policy. It is high time you visited our company.