Life Insurance Policies Made Simple

Life insurance is weird. It has its own set of rules, and it’s built around something none of us really like to think about it. Still, we all know it’s important. If you’re ready to start seriously looking at policies, a little advice can go a long way. This Chambers Bay Insurance guide will simplify life insurance and how it works in University Place, WA.

Term

Term is one of the more common policy types — especially for anyone under retirement age. Term policies are set for a specific number of years. They usually range from 10 to 30 years. You pay a monthly fee, and if the policy has to be claimed, it pays a predetermined amount. A lot of employers include these types of policies as a perk. The thing to understand about a term policy is that once it expires, it no longer covers you (or anyone attached to the policy), and you have to look for a new one.

Whole Life

Whole life is the counterpart to term. A whole life policy, as the name implies, will cover you for your whole life. It works kind of like an investment account. The premiums you pay are put into an interest-accruing account. Whatever the policy is worth at the time it is redeemed is what you get. The interesting thing about whole life policies is that they aren’t exclusively redeemed when someone passes. Many have clauses that allow you to cash out the policy after a certain amount has accrued or certain conditions have been met. The biggest thing to understand is that term policies usually pay out far more than is paid in. With whole life, the payout is equal to the total payments invested plus whatever interest they earn.

Universal Life

Universal life policies are very similar to whole life policies. They primarily grow value by investing your premiums and compiling interest over time. The major difference is that universal plans are much more flexible and more closely tied to investment returns. Depending on how they are managed, they can produce significantly more or less value than a whole life policy.

Clearly, there’s a lot to consider when shopping for life insurance. If you want to have a deeper look at the different options and how they mature, having a talk with your Chambers Bay Insurance agent certainly wouldn’t hurt. They’ve been serving University Place, WA, long enough to give you sound advice.
 

3 Tips for Buying Commercial Insurance in University Place, WA

Do you own a business in University Place, WA? If so, you’ll want to protect this valuable asset with the right commercial insurance policy. To do this, you’ll need to work with a reputable agent serving the area. Also, you’ll want to save money, as well. Read on to learn about three tips for finding the right commercial insurance for your particular business at the right price.

1. Compare Several Quotes

You’ll want to be sure when buying commercial insurance to compare several quotes from different insurance carriers. Look over the quotes in detail with the help of an agent from Chambers Bay Insurance to make sure you understand exactly what is covered and at what cost.

2. Bundle Your Insurance Policies

To save money on your insurance premiums, consider bundling all of your insurance policies under one insurance carrier. You can bundle your auto insurance, home insurance, renters insurance, life insurance, and more. Bundling is one of the easiest ways to save money on your new or existing commercial insurance policy.

3. Work with a Reputable Agent

When it comes to protecting your business, working with a reputable insurance agent is the best way to go about purchasing a commercial insurance policy. An insurance agent will help you understand the policy you decide on and help you get it for the right price.

To learn more about buying a commercial insurance policy in University Place, WA, contact the trusted team at Chambers Bay Insurance who serves this area. Our friendly agents will answer all your questions and concerns and take the time to get to know your business before helping you to compare quotes and choose the right one.

Are There Ways to Lower Your Home Insurance Premiums?

Many people assume they’re stuck with their premiums. The truth is there are several ways to lower your home insurance premiums in Univertsity Place, WA if you’re willing to do the research and the work. A home insurance policy from Chambers Bay Insurance is just the start. Here’s how you can reduce your premiums.

Review Your Coverage

If you look at your home insurance policy right now, you might find you’re paying for coverage you don’t need or coverage that doesn’t apply to you. For example, you may find you’re paying for structures on the property you no longer have.

You might have possessions listed that you sold or otherwise got rid of. Don’t lower coverage to your detriment, but always make sure you’re only paying for coverage you need.

Make Your Home Safer

Sometimes, you can lower your premium by adding safety features and making sure your home can withstand hazards. For example, you can add a stronger roof, wind shutters, a security system, and other safety measures.

The more protection your home has against the perils named on your insurance policy, the better chance you have to reduce your premiums. You can speak with your insurer to see what specific safety features they value.

Ask Your Insurer

Many insurers have deals, packages, and discounts they don’t always advertise. As the saying goes, it doesn’t hurt to ask. A professional agent will have no problem working with you to see if there’s some way they can help you save on your home insurance.

In addition, using the same insurer for all your insurance needs can often help you save money on all your insurance premiums, not just your home insurance. Homeowners in University Place, WA have many options available to them. If you want to save money on your insurance premiums, start by contacting Chambers Bay Insurance.