Why should people get long term care insurance?

Those that are in the Coppell, TX area are going to have many different types of insurance needs. One type of insurance that all people should consider getting is long term care insurance, which offers financial resources to those that have long term care needs. There are several reasons why you should obtain this type of coverage. 

Financial Resources to Pay for Care

It is impossible to predict how your health will be in the future. While some people can live on their own well into their 90s, others need more care and assistance. If you need care and assistance for a long time, the cost can be extremely expensive. When you obtain a long term care insurance plan, it will provide the financial resources needed to cover some or all of your future long term care needs. 

Access to Care When Needed

Today, many people with limited financial resources are able to obtain long term care through Medicaid and other sponsored programs. Unfortunately, it can take a while to be approved for this care. When you have long term care insurance, you will have more freedom of choice and will have access to the financial resources you need much sooner. This can ensure that you live where you want and have the care when it is needed.

Having a long term care insurance plan continues to be a good idea for anyone in the Coppell, TX area. When you are going to choose a new plan here, it would be a good idea for you to call The Select Insurance Agency. The team with The Select Insurance Agency can help you understand the value of this coverage and select a plan that will provide you with the right coverage for your situation. 

How to determine which type of life insurance to buy

One of the most critical financial plans you will ever make is buying a life insurance policy to replace your family’s income once you die. However, with all the choices available, finding the right type of insurance can be overwhelming and confusing. That’s why The Select Insurance Agency is here to help you determine which type of life insurance works for you based on your needs, budget, and lifestyle.

What is your budget?

Life insurance can be as affordable as a few dollars per month to several hundreds of dollars. Each insurance company in Coppell, TX, offers different rates for specific policies based on needs to help people pay for what they need. Remember, life insurance is cheapest when you buy at a young age and most expensive when you are older. In fact, some insurance companies do not sell policies to individuals above the age of 85 years.

Know the factors that affect your rates

Like any other policy, life insurance is calculated based on the info you provide. So, make sure you provide truthful information to avoid penalties. Some of the factors that can affect your rates include:

  • Age
  • Gender
  • Weight and height
  • Current health and medical history
  • History of substance abuse
  • Hobbies
  • Criminal history

Choose a period for your policy

When it comes to policy duration, you can either choose to pay for a number of years or your whole life. Consider your present financial situation and determine what you want your life insurance to cover. For instance, if you have a debt, mortgage, or children joining the college in a couple of years, you may want to buy term life insurance to cover the years required.

How much insurance do you need?

The simple answer to this question is–know why you need life insurance in the first place. Your reasons will help you break down the amount you need to set aside, the number of years, and which policy will fit your needs.

Looking to buy life insurance in Coppell, TX? let The Select Insurance Agency help you find a policy that matches your needs. Contact us for a terrific deal!

Exploring The Benefits Of Dental Insurance

The Select Insurance Agency offers coverage to the Coppell, TX community. For more than a decade, we have helped our clients find policies designed to meet their individual needs. As an independent insurance agency, we have positive relationships with multiple carriers throughout Texas.

Exploring The Benefits Of Dental Insurance

Having good health is important to enjoy a less stressful lifestyle. One of the ways that you can stay healthy is by taking care of your teeth. If you have a nice, bright smile, that could increase your self-esteem and give you positive feelings as you prepare for the day ahead. That’s why dental insurance is an asset. Dental insurance helps you maintain the health of your teeth and gums. The policy also covers your preventative care, such as regular cleanings. You are also covered if you need to undergo a procedure such as fillings or a root canal. You are also covered if you need to go to the emergency due to severe tooth pain.

Network

Based on the type of policy that you choose, you will have access to different dentists across Coppell, TX. If you are unfamiliar with the options for care under your policy, you can amend your policy to visit your dentist outside of the specified network.

Individual Policy

While you may have dental insurance through your employer, it is more beneficial to have your own individual policy. If you have your own policy, you will have access to a wide variety of choices compared to simply relying on the choices outlined by your employer.

The Select Insurance Agency Will You Find The Coverage You Need

Visit our website today to learn more information about dental insurance.

5 Things to Consider When Getting Health Insurance

Health insurance might be the most important insurance you get. You, therefore, need to make a good decision, and to help you with this, check out these 5 things to consider when getting health insurance.

Medication Coverage

Find out whether the medications you take (if any) are covered. You also need to find out whether you will have to buy generic alternatives while on the cover and what the copay will be so you don’t spend a lot.

The Covered Providers and Networks

It’s important to know whether your hospital is covered by the insurance you get. If you pick The Select Insurance Agency while in Coppell, TX for your cover, you will get clear information on the hospitals covered. Not checking beforehand can force you to pay out of pocket to be able to see your regular physician or compromise and go to a different one that’s in your insurer’s network. 

Premiums Payable

While premiums are important to consider, don’t base your decision on premiums alone. Insurance that you pay for cheaply may have a smaller network of hospitals covered and higher deductibles which will cost you more in the long run so always consider different factors.

Extra Benefits

Some insurers will throw in extra perks for their members such as free gym ownerships, legal consultations, and free counseling. While these are great deals, the extras should not deceive you to pay more than you need to for a cover. 

The Deductibles

This is the amount that you have to pay before the insurance can be used. You need to be careful when deciding because higher deductibles may mean lower premiums while lower deductibles may mean higher premiums. 
 
Hopefully, this list will be helpful for you with your insurance matters so don’t hesitate to head to The Select Insurance Agency especially if you’re in Coppell, TX, for more information and some great coverage options.

What are the benefits of getting workers comp insurance in Texas?

People that are in the Coppell, TX area and own a business should make sure that their company is properly protected. One type of insurance that can help to protect a company is workers comp insurance. There are a range of benefits that come when you have this type of insurance coverage in place. 

Ensures Employees are Protected

Worker’s compensation insurance is an important form of coverage that aims to ensure that employees are properly protected if they are hurt or injured while at work. If they do incur an injury, they will know that they will receive the care that they need as well as the protection of their wages while they recover. This is a valuable benefit that could also help you find and retain staff.

Insurance Reduced Liability Risk for Employer

When you have a workers compensation insurance plan in place it could help you to avoid liability claims. If you have a team member that gets hurt at work, they will file a claim with the worker’s compensation insurance provider to receive support. If you do not have this insurance in place, the employee will be more likely to sue you and your business for the same support. Due to this, you will have a lower liability risk with this insurance in place. 

Those that are looking for a workers comp insurance plan in the Coppell, TX area should call The Select Insurance Agency. There are a lot of important benefits that come with this insurance. At the same time, there are many decisions that need to be made when you are choosing a new policy. The team with The Select Insurance Agency can help you understand the different options and build you a policy that will provide the ideal protection for your situation. 

Protecting your small business with commercial insurance

Small businesses are singularly vulnerable to risks that might not damage a larger business. It can make it hard to sleep at night imagining all the things that can go wrong. It is crucial to identify the risks facing your business and try to mitigate them as much as possible with commercial insurance. The Select Insurance Agency in Coppell, TX has been serving residents of the metro Dallas Fort Worth area for 15 years. We work with over 30 companies to find the perfect policy for all of our customers. 

A business owner’s policy provides protection most businesses can benefit from. By buying them together in one policy instead of two separate policies, you are able to benefit from better pricing. A business owner policy combines commercial property insurance with commercial liability insurance. The commercial property insurance covers all of your property, not just the building. You can’t do business without your machinery, office equipment, inventory, and raw materials. The liability insurance protects you from the effects of being sued. Litigation can cost you your business if you are not insured and end up with a judgment against you and legal fees.

Business interruption insurance can help guarantee if your business is hit with a covered peril you will come out on the other end and be able to reopen for business. Just because your business is in shambles, it doesn’t mean your bills or obligations go away. With business interruption insurance you will be able to pay your bills, meet payroll, and even take a salary. Not all perils are covered however so be sure to read the policy for detail. 

At The Select Insurance Agency in Coppell, TX, our team will work with you to curate the perfect commercial policy to protect your small business. Visit our office or give us a call for a no-obligation quote. 

Three things to know about toy insurance

If you own expensive luxury items like ATVs, boats, and luxury collections, you should know what toy insurance is. Toy insurance is a type of coverage we offer in Coppel, TX at The Select Insurance Agency.

The following are three things to know about toy insurance.

Toy insurance involves insuring a wide variety of high-value items such as recreational vehicles and collector items.

The first thing you need to know is what types of possessions toy insurance provides coverage for. Toy insurance can refer to a wide variety of coverage types.

Generally, this type of coverage involves insuring recreational vehicles or collector items. Toy insurance is generally coverage for a variety of types of items that are owned as a luxury or for recreational purposes.  

Toy insurance can cover costs resulting from liability damages, burglary, flooding, fire, natural disasters, and more.

Insuring high-value items is obviously important. Purchasing toy insurance can mean you’ll have coverage on valuable items for a wide variety of incidents.

If you’ve invested in high-value items, it’s important to protect your high-value possessions from all the possible causes of damages out there like burglary, flooding, fire, and natural disasters. Liability damage protection is also important for certain luxury items. 

You need coverage to use an ATV, four-wheeler, or similar vehicle.

If you own a recreational vehicle, getting insurance for it is essential. The use of an ATV, four-wheeler, or similar vehicle can lead to injury and property damage. Purchasing toy insurance coverage can protect you against these potential costs. 

Are you currently looking for a toy insurance policy? We can help you find the right policy for your needs in Coppell, TX. Get in touch with us at The Select Insurance Agency if you have any questions about toy insurance. 

When is it necessary to get RV insurance?

In the Coppell, TX area, it continues to be very common for people to want to purchase an RV. If you do buy an RV when you are here, you will have a fun asset that can give you a lot of great memories. RV owners do need to get insurance for it as it is almost always necessary. 

When Taking Out Financing

Taking out a loan to buy an RV is very common due to the initial cost that comes with the purchase. Anyone that has taken out financing will need to meet their lender’s standards, which normally requires you to carry RV insurance. With a full RV insurance policy, you will have the coverage needed to repair or replace the RV following a wide range of situations that could result in a loss. The lenders want you to have RV insurance as it ultimately protects their collateral.

When on a Public Road

You will also need to get RV insurance when you are going out on a public road. Those that are going to purchase an RV and want to drive it around need to meet the standards set for all motorists. This will require that you have a liability RV insurance policy. With this coverage, you are assured to be able to pay for damages that could be caused in an accident.

There are a lot of reasons that an owner of a RV will need to have RV insurance. As you are looking for your next policy in the Coppell, TX area, a great resource of information and guidance is The Select Insurance Agency. Those that call The Select Insurance Agency will get to learn a lot about how this insurance will protect themselves. Based on this assessment, you can choose a policy that offers great coverage. 

How Much Life Insurance Do I Need?

Having a life insurance policy in Coppell, TX not only secures the future of your loved ones, but it also gives you peace of mind. If you’re considering purchasing a life insurance policy, you may be wondering how much you need. The team at The Select Insurance Agency has put together this short guide to help you get started.

Calculating how much life insurance you need is simple. Here are two ways to do it.

Calculate to Reveal a Gap

You take your long-term financial obligations, such as mortgage and debt, and then subtract your assets. What is left is the gap that a life insurance policy would fill and this is the minimum amount you would want to purchase. To do this, add your salary to the number of years you want to replace that income. Is 10 years enough? Maybe fifteen? Add these to your mortgage balance, debt, and future costs such as burial expenses and tuition. If you’re a stay-at-home parent, be sure to include what it would cost to replace you and add this amount. From the total, subtract your liquid assets; cash, savings, 401K, and any other liquid assets you may have, including current life insurance policies. The remaining number determines the amount of coverage you need.  

Use the 10 times Value 

The 10 times value is a general rule of thumb to follow when trying to determine how much life insurance you need. This rule states that you need 10 times your current salary in life insurance benefits. For example, if you make $50,000 per year, you’ll need $500,00 in life insurance. However, keep in mind inflation and fluctuating interest rates that could mean you need more. If you have dependents, take on another $100,00 for each child. 

To learn more about obtaining a life insurance policy, contact the team at The Select Insurance Agency, serving the Coppell, TX area. 

Who should get umbrella insurance in Texas?

When you are in the Coppell, TX area, you are bound to have a variety of different personal insurance needs. When you are looking to build a new personal insurance plan, one type of insurance to consider getting is umbrella insurance, which will provide you with additional personal liability insurance coverage. There are several situations when someone should invest in an umbrella insurance policy. 

Those that Want Additional Coverage

One situation when getting umbrella insurance is a good idea is when you want additional coverage. Those that have home or auto policies will have some coverage in place already. However, the liability coverage received is limited to the policy level. If there is ever a very bad accident, your damages could exceed that level. Fortunately, when you have an umbrella insurance coverage policy, you will have the additional protection needed on top of the base policies.

Peace of Mind

You should also want to get an umbrella insurance policy if you would like a peace of mind. It can be very hard to build insurance policies that will offset all of your liability risks. Fortunately, if you do get an umbrella insurance policy, you can receive coverage for a very vast set of risks that could result in a liability claim. This could provide you with protection and peace of mind. 

There are a lot of situations when getting umbrella insurance in the Coppell, TX area is a good idea. Since this can be a complex type of insurance to pick, you should call the team at The Select Insurance Agency. When you call The Select Insurance Agency, you are going to learn a lot more about umbrella insurance. They can then evaluate your personal situation and help you determine if this insurance coverage is right for you.