It can be somewhat intimidating to think about the different kinds of life insurance available and make good decisions about the coverage needed. This is why it is important to talk with an agent at Linda Dugan Insurance, serving Astoria, OR and nearby areas, to get some help understanding what life insurance is adequate for your needs.

Types of Life Insurance

Here are some basic differences regarding different kinds of life insurance:

• Whole Life: This type of life insurance provides protection for loved ones if a person dies, can pay some part of the benefits if a person becomes permanently disabled, and serves partially as an investment. Whole life insurance is meant to be kept for a long time. Over time it builds up cash value, which can be used to borrow against or to pay premiums for future insurance.
• Term Life: Term life provides insurance for a specific time period and does not accumulate cash value.
• Universal Life and other investment styles: Universal life is a hybrid policy that combines term life with a savings component. Ask your agent about the life insurance types that have investment characteristics.

Insurance for Different Stages of Life

The type and the amount of life insurance protection needed to provide adequate coverage depend on a person’s age, marital status, and the number of children they have. Younger, single people have only the basic life insurance needs that are necessary to cover the cost of a funeral. When a person gets married or has a significant other in their life, it is time to consider life insurance to help them if something happens to you.

Once a person has children, it becomes imperative to have adequate life insurance coverage. As an adult, who loves their children, having life insurance gives you peace of mind when thinking about providing a secure future for your kids. As you get older, when your kids grow up and move away from home, life insurance needs are reduced.

Make an appointment to talk about life insurance with your agent at Linda Dugan Insurance in Astoria, OR if you need a new policy or to review existing policies to make sure you have adequate coverage.

Small businesses are a huge sector in the business world and for them to be successful, a commercial insurance is vital. If you are ever wondering the importance of acquiring the insurance, we will cover the essence of it adequately. For the residents of Astoria, OR, visit Linda Dugan Insurance to get a commercial insurance for your small business. A commercial insurance is important for your small business due to the following reasons.

Credibility

When you insure your business, potential customers and investors will feel that your business is trustworthy. This is important because it will help you get customers and also land great deals from people who are willing to invest in it. A customer will feel safer doing transactions with a business that is well covered.  In the long run, the business prospers.

Law

If your small business has employees, the law will demand a commercial insurance to cover for workers compensation, people with disability and unemployment.  If you fail to acquire the insurance, the business could be fined. The amount of money used to cover the fines could prove to be more costly than acquiring the insurance policy.

The future is uncertain

It is everyone’s wish to see their business grow and become prominent in the future. However, the future is always uncertain and no one knows for certain what is going to happen. For this basic reason, a commercial insurance is required in case there is a disaster. The insurance policy will give you the peace of mind to operate the business. In case anything was to happen, you will be well covered.

Acquiring loans

Not everyone has the required budget to fund their business until it is successful. To deal with budget limitations, the business will look for a lending institution to help with the finances. With a commercial insurance policy, the lender will probably give you the money. If you don’t have one, they will be very reluctant because they will feel their money is unsafe. If you reside in Astoria, OR, visit us at Linda Dugan Insurance to get a commercial insurance for your small business.