Life can be very unpredictable and none of us know when we will leave this world which is the reason that life insurance is so important. In Coppell, TX, the staff at The Select Insurance Agency know and understand the purpose of all the different types of life insurance options that are available.

Reasons You Need a Life Insurance Policy

Life insurance will help your loved ones pay off debts after you pass away which means there will be less stress for your family financially while they are grieving your death. A life insurance policy will also provide you with peace of mind in knowing your family will be taken care of in the event of your untimely death.

Types of Life Insurance Policies

Universal Life Insurance

The most popular of the three main types of life insurance policies, universal life insurance is a type of savings account of sorts.  This type of policy allows you to borrow money from it while you are still alive so you can pay off debts on your own and your beneficiaries will not have those debts to worry about after you die.

Term Life Insurance

A term life insurance policy will only help your loved ones if you pass away during the term in which it is an active policy. It is a very simple type of life insurance policy and you get to set the length of each term, however, if the term expires and you renew, your premiums may go up somewhat.

Whole Life Insurance

A whole life insurance policy is also known as a permanent life insurance policy and it will pay out in a death benefit when you pass away. There are three different types of whole life insurance policies, including universal life, variable universal life, and traditional whole life.

An experienced life insurance agent can assist you in determining which type of life insurance policy will be the best one for you and your situation. Call the agents at The Select Insurance Agency in Coppell, TX to get your policy started today!

Choosing health insurance is not easy. So much depends on your making the right choice. Many different factors go into the decision and getting it wrong means you will have the wrong coverage for an entire year. Having an independent insurance agent who knows you, your needs and the options available is a big help and makes it a lot less stressful. At The Select Insurance Agency in Coppell, TX, we are dedicated to helping our customers make good insurance decisions and, since we work for you, making you happy is our goal. 

What is the plan deductible?

All plans have a deductible that must be met before coverage begins. High deductible plans have just that, a high deductible. If you are very healthy and likely won’t need much medical care this year, this is an affordable option. If you need to use your insurance frequently, it may be more expensive than a lower deductible plan. 

Is my doctor in-network?

All plans have networks of healthcare providers. Not every provider is in every network. Depending on the type of plan you have, you may have to use providers in-network to get any coverage. 

Are my prescriptions covered by the plan? 

If you are taking prescriptions, you need to check the formulary for any plan you are considering to find out if your medication is covered and what the co-pay is. 

Does the plan include dental, vision, and hearing services?

What exactly is the plan providing? If it is only medical coverage, do you have the option to add these additional types of coverage?

How much is the monthly premium?

While this may in reality be the most important question, it should not be the only reason for choosing a particular plan. 

When you are ready to make your health insurance choice, at The Select Insurance Agency in Coppell, TX,  we are ready to help.

People that live in the Coppell, TX area need to make sure they have the proper insurance in place to take care of themselves and their dependents. One form of insurance that people in this area should get is dental insurance. There are a few reasons why people should get a dental insurance plan.

Access to Affordable Routine Care

One of the reasons that you should get dental insurance is so you have access to affordable routine care. Caring for your teeth is very important. Those who do will have fewer long-term issues and can avoid significant decay and discomfort. A great way to ensure you avoid these challenges is by having your teeth cleaned a couple of times per year. When you have insurance, you can see a dentist for reduced rates, which can save you money and provide the care you need to keep your teeth in good shape.

Avoid Significant Costs

Another advantage of dental insurance is so you can avoid significant costs. If you ever need a dental or oral procedure, your costs can be significant. Fortunately, when you have dental insurance, you can reduce these expenses. You will often have annual maximums and other cost savings that will reduce the amount of money you need to spend out of pocket. 

If you are assessing your dental insurance needs in the Coppell, TX area, it would be a good idea to properly evaluate your needs and options. One company that can help you choose the best plan for your situation is The Select Insurance Agency. Those professionals with The Select Insurance Agency can help you properly assess all of your insurance needs. This will help you then build a plan that will provide you with ideal coverage for your situation. 

Workers’ compensation helps provide insurance coverage in the event an employee is injured or killed at work. When injured, workers’ compensation helps pay for medical bills and lost wages while the employee recovers. In addition, workers’ compensation helps protect you as the business owner, reducing the risk of being sued for damages and negligence associated with an employee’s injury. Business owners in Coppell, TX, should call the experts at The Select Insurance Agency today to discuss how workers’ compensation can protect their business assets. 

What is Workers Compensation Insurance?

Workers’ compensation insurance provides money to cover medical expenses, rehabilitation costs, and lost wages to employees who become injured or ill, related to the scope of their job. 

Who is Required to Carry Workers Compensation Insurance? 

All states require businesses with non-owner employees to purchase workers’ compensation insurance to cover their employees in the event of an on-the-job accident. Business owners who do not provide workers’ compensation coverage may face severe repercussions when they have to pay for injury claims and fines out of pocket. Additionally, business owners who fail to purchase this insurance may face imprisonment or lose their right to conduct business in the state. 

How Does a Workers Compensation Claim Work? 

When an employee becomes injured on the job, they must visit a healthcare professional immediately to document injuries to support their claim. Employees can begin the claim process by filing the necessary paperwork, and when approved, they will receive compensation payments. Then, when ready, the employee can return to work. 

Business owners in Coppell, TX, needing help with their workers’ compensation insurance policies, can reach out to the experts at The Select Insurance Agency. Our agents can help answer your questions and get you the best insurance plan for your business needs. 

Those that are in the Coppell, TX area and want to enjoy the area as much as they can, should consider getting a recreational toy. If you are going to purchase a recreational toy, you can have a lot of great experiences but will also be making a major investment. Due to this, getting toy insurance should be considered a necessity. This coverage can help someone here in several ways. 

Protect Asset

One of the ways your toy insurance plan can protect you is by covering your asset. If you choose to purchase any type of recreational toy, you will be making a significant investment. Due to this, you should always look to protect your asset as well as you can. A great way that this can be done is by getting a full toy insurance plan as it will protect your recreational asset.

Mitigate Risk of Liability Claims

Owners should also get a toy insurance plan to offset their liability risk. If you choose to operate a recreational toy, there is going to be a chance that you cause an accident. Whenever you are at fault for an accident, it will be your responsibility to cover damages associated with it. If you get a proper toy insurance plan, you will get the liability coverage you need to mitigate this risk. 

Those that are going to purchase a recreational toy in the Coppell, TX area will clearly want to have proper insurance for it. As you are looking for a plan here, calling The Select Insurance Agency is a good idea. There are a lot of different choices to make when selecting a toy insurance plan and  The Select Insurance Agency can make this process easier. The team will carefully assess your situation and offer the support you need to choose your next policy. 

RVs offer a great way to explore the world while bringing the comforts of home along for the adventure. Coppell, TX RV owners have spent a lot of money purchasing their RV, maintaining it, and getting it ready for the open road. Because RVs are such a considerable investment, the experts at The Select Insurance Agency understand the need to protect them with RV insurance. 

Continue reading for more information about the basics RV insurance has to offer: 

What is RV Insurance? 

RV insurance protects from excessive financial loss in the case of an accident or theft. In addition, the insurance policy may provide coverage for personal injuries, legal liability, or vehicle repairs. Additionally, some RV insurance policies offer roadside assistance, which can be beneficial for those who do a lot of traveling in the RV. 

What Coverage is Included in RV Insurance? 

RV insurance policies offer similar protection as car insurance does. Coverage typically included in an RV insurance policy include: 

• Bodily injury liability coverage: Protects you if you or a driver insured under the policy causes injury to someone else. This coverage also protects against any injury claims where you were found liable in a court of law. 
• Property damage liability coverage: Protect you when you’re found at fault in an accident with damage to another person’s property.
• Collision coverage: Helps pay for repairs or replacement if the RV becomes damaged in a crash. 
• Comprehensive coverage: Provides coverage if the RV is stolen or damaged by fire, vandalism, or severe weather. 
• Uninsured/underinsured motorist coverage: Provides coverage in an accident when the other driver does not have insurance or has enough insurance coverage. 

Essentially RV insurance helps protect RV owners against anything that can happen to their RV or traveling. Those in Coppell, TX can learn more about the basics of RV insurance by reaching out to the experts at The Select Insurance Agency. 

Umbrella is a unique kind of insurance that works with two of the policies that you already have. It is affordably priced and gives you more protection right where you need it. If you want to talk to an agent about umbrella insurance, call us today at The Select Insurance Agency in Coppell, TX.

Liability Coverage

The liability coverage that you have is extremely important. It pays the medical and/or property damage bills once there has been an accident. Your home policy and auto policy each have their own amount of liability coverage, but this coverage is often quite low. It may not be enough to get all the bills paid after a serious accident has occurred. To give themselves more liability coverage, many people purchase an umbrella insurance policy. This adds more liability coverage to their auto and home policies.

How Umbrella Insurance Works

When you have an accident at your home or in your vehicle, your home or auto insurance will pay for the resulting bills if you are held liable for them. However, the maximum payout for these policies is often too low to pay for all of the bills. This would result in you having to come up with the overage. However, if you have an umbrella policy, this policy would come in next to pay the overage up until the bills reach the policy’s own maximum. And for umbrella policies, the maximums are very high. This leaves you much better protected in case of serious accidents. 

Cover Yourself With Umbrella Insurance

If you want to be better protected in case of accidents, it’s smart to have an umbrella policy. To find out more about them, give us a call at The Select Insurance Agency in Coppell, TX.

If you live in Coppell, TX, understanding the basics of insurance policies is incredible. With a life insurance policy, defining your beneficiary is one of the most critical aspects. That way, you must be sober when making such decisions. The Select Insurance Agency has your best interest at heart when contemplating who to register as your beneficiary. Here is how to go about the whole process and avoid mistakes.

Understand and Observe the Divine Purpose of the Insurance 

Buying life insurance cover is not an ordinary decision, as serious considerations must count. It is advisable to define your primary reasons as to why you need the insurance. If you plan to safeguard the welfare of your family in your absence, indicating your spouse as the chief beneficiary is wise. However, if you want to keep your company active after your death, your business associate is best suited when choosing a legatee.

Are There Multiple Options

You have options beyond your spouse when looking for your life insurance beneficiary. The preferences extend beyond your kids and relatives too. What more, it is not mandatory to include one person, as you can choose several. You have the liberty to define two several beneficiaries indicating what they should receive when the time comes. What more, you can identify a charity institution or a trustee to be a beneficiary.

Is It Necessary to Identify a Backup Beneficiary?

Besides identifying your desired beneficiary, the law provides a second option in case of particular situations. For instance, your beneficiary may die before time, or they may fail to comply, prompting your insurer to reach the secondary heir. Be keen when selecting your secondary beneficiary, as they are equally critical.

The Insurance Policy Must Always Be Up-To-Date

Your insurer does not make automatic updates when changes occur. For instance, if you had named your parent before getting married, you must not assume that your spouse becomes a beneficiary by default after marrying. You must update where necessary, as your insurer works with the updated data. 

Contact The Select Insurance Agency for all your queries if you live in Coppell, TX.