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.

Health insurance in Astoria, OR can be extremely frustrating to muddle through, even as some insurance carriers try to make it a little easier. Instead of using as many technical terms, they may begin to stress more of the costs of choosing someone out-of-network, or which services don’t have a co-pay. And yet, even with these efforts, it’s not always easy to know what you’re signing up for. Here are three reasons to look over your policy again. 

1. You May Be Covered for Far Less Than You Think 

From high deductibles (to catch outside services) to your specific network, you may not be covered for nearly as many kinds of treatment as you believe. If you happen to have an emergency while you’re out of town, you’re not likely to have many options about where you go and who treats you. It’s only after you return home and receive a bill that you realize nothing was actually covered by your policy. 

2. You Don’t Want to Find Out Too Late 

Finding a bill in your mailbox is the worst possible time to realize what your health insurance covered. Taking the time to look over it now, even if it takes some time to go over each clause, is a far better strategy. Linda Dugan Insurance has seen too many people end up finding out the truth later when they should have taken the time to address it all sooner. 

3. You Can Get Your Questions Answered 

Taking the time to go over your insurance policy now gives you a chance to ask the questions you don’t want to ask later on. Linda Dugan Insurance has been helping the people of Astoria, OR get their questions answered for years, and we can help you too. 

Being properly covered by insurance is extremely important for all people. When you are considering your insurance needs, one of the most important types of insurance that you should also consider getting is umbrella insurance. This type of insurance is essentially additional liability coverage insurance that is in addition to your standard home or auto policies. There are several reasons why you should consider investing in an umbrella insurance policy.

Provides Coverage for Additional Risks

One of the main reasons why Astoria, OR residents should consider investing in umbrella insurance is that it will provide coverage for additional risks. While you can have a lot of financial coverage on your home or auto policies, the situations in which you are covered are still fairly limited. With an umbrella insurance policy, you will receive coverage for a variety of additional risks including the risk of slander or libel.

Additional Financial Coverage

An Astoria, OR customer will also receive more financial coverage when they have an umbrella insurance policy in place. When you are shopping for an umbrella insurance policy, you will be able to select the dollar amount of coverage that you want. This coverage can then provide you with additional liability insurance coverage that will come in handy if you are sued for liability and the damages exceed the amounts set forth in your home or auto policies. 

If you believe that you could benefit from the additional coverage provided by umbrella insurance, reaching out to Linda Dugan Insurance could be a great option. The team at Linda Dugan Insurance will be better able to explain all of the advantages of having umbrella insurance and they will be able to help find you a policy that provides you with the right level of umbrella coverage for your situation.

If you have been thinking about buying a life insurance policy but you don’t know how you are going to pay for it, it is pertinent that you come up with a plan for a budget so that you can make the premium payments. You can ask anyone and you will hear over and over how important it is to invest in life insurance. Not only does it provide you with peace of mind in knowing you can leave your loved ones financially protected if you were to pass away but it’s also a great way to invest money if you buy a whole life policy that comes with a cash value. For now, Linda Dugan Insurance serving the Astoria, OR area would like to share two tips for budgeting for a life insurance policy. 

Get Your Priorities In Line

Sure, that $2 McChicken and small fry from McDonald’s might be quick and convenient for lunch each day, but this is costing you $60 a month. What if you chose a healthier lunch option that you can bring from home and instead of spending the money at McDonald’s, you invest it in an insurance policy? Budgeting for a life insurance policy starts with getting your priorities straight. 

Set a Goal and Stick to It

If you want to invest in life insurance, you can set a goal to set aside $50 a month to pay for your premium. When you set goals, studies have shown that they become much easier to meet rather than trying to accomplish something without putting a plan in place.

If you would like to learn more about budgeting for life insurance, please contact Linda Dugan Insurance serving the Astoria, OR area.

As Your Business Grows, So Should Your Coverage

Commercial insurance policies provide coverage for many different aspects of your business- from liability and property damage to business interruption coverage. As your business grows its value is also increasing. We recommend that all of our commercial clients in the greater Astoria, OR area sit down with one of the agents at Linda Dugan Insurance each year to review their policies and discuss any changes that may need to be made.

One of the foundational pieces of the commercial insurance coverage puzzle is Commercial General Liability Insurance, sometimes referred to as CGL. This policy type will protect your business from the risk that can come with owning a business. This protection from claims brought forward by customers or employees will likely need to grow with you as your business expands. Similarly, as your inventory, commercial assets, and any commercial buildings and vehicles that your company owns an increase in value, so too should your coverage.

Whether you are concerned about your increased liability coverage needs or want to explore a Key Person policy, your annual policy review is the perfect opportunity to make sure that all of your commercial insurance needs are being met at the appropriate coverage level. Our team is highly knowledgeable of commercial insurance and how to implement a portfolio strategy that provides you with the breadth of coverage to protect your business interests. Contact us today and schedule your commercial policy review!

The team at Linda Dugan Insurance is here to protect your business interests in the greater Astoria, OR area, and help you to protect all of the hard work that goes into owning a business. Contact us today to schedule your annual review of your commercial insurance needs.