Insurance Professionals of Arizona
IPA represents numerous insurance carriers in Arizona to find you the best insurance coverage at the lowest possible premium. Call us at 480 981 6338 to get our insurance quotes today!
A Complete Guide to Life Insurance by Insurance Professionals of Arizona. There are two main categories of life insurance: term and permanent.
The simplest explanation for these is that term insurance gives you life insurance coverage for a specific amount of time, for a certain period or term, and you are only covered and receive a death benefit if you die within that specific period of time. Permanent life insurance, on the other hand, covers you until you die regardless of when you die, or in other words, for your whole life.
This is why permanent life insurance is often referred to as “whole life.” Within each of these main categories there are a variety of life insurance options to choose from. Let’s dig a little deeper to understand each one. What Is Hazard Insurance for Homeowners? - Insurance Pro AZ. What Is Hazard Insurance for Homeowners?
For many families, home is where the heart – and the money – is. American families have 68% of their wealth stored in their homes, which is why many people view their house as both a place to live and an investment. When you purchase homeowners’ insurance you’re not just fulfilling a mortgage lender’s requirement, you’re protecting your investment. But the various insurance policies that you can buy can l confuse many homeowners. They want protection, but they don’t want to pay too much. Do Insurers Have COVID-19 Covered? - Insurance Pro AZ. Do Insurers Have COVID-19 Covered?
There’s no doubt about it – the coronavirus pandemic caught everyone unprepared. Schools had to pivot to distance learning within weeks. Businesses sent everyone home and we all learned how to work remotely. It’s been roughly six months now, and most of us have adjusted. Our new way of life includes masks hanging next to the car keys by the front door and having a co-worker who barks to be let out. Does Business Insurance Cover Interruptions due to a Pandemic? Similar to how car insurance protects your car if you’re in an accident, business insurance protects your business’ assets and property from loss.
Even if you don’t own physical assets such as inventory, you may have assets like accounts receivable or intellectual property such as patents. Every business has something they need to protect. How Does SB 1087 Affect Your Auto Insurance in Arizona? How to Prepare your Home for the Arizona Monsoon Season. Review Your Homeowners Insurance When Refinancing Your Home. Homeowners insurance protects both your home and the mortgage lender’s investment.
Things to Know about Life Insurance During COVID-19. 3 Advantages To Becoming An Independent Insurance Agent With IPA. Why Become an Independent Agent with IPA?
IPA gives our agents the tools to succeed – like the Management system with a built-in comparative Rater. You will experience increased productivity as you quickly compare quotes for home, auto, life, health, and commercial insurance from over 20 carriers simultaneously. 15 Common Questions on Property and Casualty Insurance - IPA. An umbrella commercial property policy simply provides the beneficiary with additional coverage above and beyond the original liability limits in the event of a catastrophic loss.
This provides additional financial coverage in the event of a catastrophic loss where damages exceed the liability limits of the original policy. For example, if there is a natural disaster such as an earthquake which completely destroys not only the commercial building you own, but also all the equipment within it, as well as your entire fleet of vehicles, and the damages exceed the maximum limits of your original policy, you will likely be permanently out of business. An umbrella policy can give you peace of mind that all your business property is covered even in the absolute worst case scenario. How To Become An Independent Insurance Agent - A Guide By IPA. Currently, about 30% of all insurance agents are independent insurance agents.
One of the biggest factors holding agents back from the decision to become independent is financial. Independent agents make their living 100% by commission and are often responsible for their own overhead and marketing costs. This can make becoming an independent agent feel riskier than staying a captive agent. The truth is you can actually make more money in commissions as an independent agent.
Typically, commission ranges for captive agents writing home and auto policies range between 5-10% of the premium. For example, a $1,000 auto insurance policy with a 10% commission provides the agent with $100. In the example we used before, the $1,000 auto insurance policy would provide a decreasing level of commission every year. In this case, over the three years, this captive agent made $240 on this policy.
Independent agents, on the other hand, are paid primarily on commission. Equipment Breakdown Coverage vs. Home Warranty. : What’s the difference?
Our homes are made up of appliances and mechanical systems. Things like our water heater, oven, and garbage disposal are all parts of our daily routine. So when one of them breaks down, our routines are disrupted. So how do you ensure that your appliances and systems are covered and can be easily replaced in case of an accidental breakdown? 15 Common Questions on Property and Casualty Insurance - IPA. Life Insurance Company in Arizona, Phoenix Life Insurance - IPA. Affordable Health Insurance Plans in Arizona. For 2020, private health insurers are expanding the number of healthcare plans they will offer to Arizona residents through the healthcare marketplace.
These plans can be purchased by anyone needing health coverage for 2020 that is not already enrolled in their employer’s plan, or already on Medicare or Medicaid. For residents living in Maricopa County, there are now five health insurance companies that will be offering coverage, up from four a year ago. According to the Arizona Republic, those five companies that confirmed they will be offering plans in Arizona are: Minnesota-based Bright Health New York-based Oscar. Return of Premium Life Insurance: Pros & Cons. Some people simply do not trust the stock market or other investment vehicles. This is certainly understandable, especially if they were hit hard by the economic collapse of 10 years ago.
Over 60% of all US households saw a significant decline in wealth during the Great Recession, many of whom saw their retirement savings wiped out. This is not to mention the millions of Americans who lost their jobs, we’re unable to find work, and who accrued mountains of debt. Others, for lack of a better way of putting it, simply do not trust themselves. With investment accounts there is always the temptation to withdraw funds early, even with a penalty. Does Life Insurance Policy Cover Suicide? - Insurance Pro AZ. When you have lost a loved one to suicide, the last thing you want to think about is money. You want to reflect on the person’s life and provide comfort to those that are impacted the most. However, you will still be brought back to the financial impact of suicide.
How am I supposed to cover funeral expenses? If he/she was the primary breadwinner, do I have enough to provide for my livelihood in the future? What financial obligations am I left with? What is Permanent Life Insurance? As we have noted previously because permanent life insurance provides a death benefit no matter when you die, the insurance company is guaranteed 100% to pay a death benefit to your beneficiaries as long as all the premiums are paid. That means that permanent life insurance rates are significantly higher than those for term life insurance. For example, it would not be unusual for a guaranteed universal life insurance policy to be four times the cost of a term policy with similar coverage, while a whole life policy could easily be 10 times the cost of a term policy.
This is one of the reasons that we recommend permanent life policies for our clients only if they have specific long-term or “permanent” financial obligations or for estate and tax purposes. How to Choose Commercial Insurance Broker - Insurance Pro AZ. Think for a moment what a huge role your business plays in your life. It is the way you provide for your family, fund your lifestyle, prepare for the future, use your talents and expertise and talents, support you employees, serve your customers, and contribute in your community. How to choose the right Auto Insurance Broker – Insurance Pro AZ. Contents When people decide to buy a new car, they typically spend a lot of time choosing the right one for them. They think about their needs: Understanding Commercial Prescription Drug Insurance - IPA.
10 Tips to Choose the Best Commercial Insurance Agent. Why You Need Health and Life Insurance - Insurance Pro AZ. How to get the Best Commercial Insurance in Arizona - Insurance Pro AZ. In addition to finding an agent that knows your business and cares about getting you the exact coverage you need, you need to think about how many options your agent will have when it comes to commercial policies and whose best interest they have in mind. There is a big difference between captive and independent insurance agents. We will take the time to explain each. Guide on Choosing the Best Car Insurance by Insurance Professionals of Arizona. Commercial Insurance Premium Financing - Advice #2: Sort Out Your Financing Costs of commercial insurance vary depending on the company that provides it, the number and type of policies you select, as well as on other mini-factors (such as risks, liability, etc.)
Prices also vary from state to state, as well as on your gross sales. We suggest that, no matter what your business is, you always opt for the General Liability Insurance. Arizona Insurance Companies, Insurance Brokers in AZ - IPA.