Can we use a part of our San Antonio, Texas life insurance death benefit for a terminally ill patient?

Getting the news from the doctor that your father, mother, sister or brother has a terminal disease and has less than 24 months to live can be the worst moment of your life. You will never forget that moment and there is not much you can do but hope and pray that your loved one will live out his or her days as comfortably as possible.

If a terminally ill patient has a life insurance policy with an accelerated death benefit provision or rider, money can be advance while the insured is still alive. In San Antonio, Texas, families who face the prospects of paying for acute medical care and expensive home care, can use some of the death benefit to take good care of their loved one.

Whether you live in Bexar County or neighboring Comal County, the cost of caring for a terminally ill patient can be beyond the budget of the individual or individuals who take on the responsibility of looking after their loved one during their final months.

When you qualify for and take advantage of an accelerated death benefit, your life insurance company will give you a percentage of the death benefit of the policy. The amount that you can get depends upon the life insurance company, the surrender value, and a number of other variables. You no longer have to pay any more premiums and, upon the death of the terminally ill patient, any remaining death benefit will be paid to the beneficiaries.

In many cases, the money received through an accelerated death benefit is not subject to federal taxes. This is a complex matter and it is always best to get advice from an attorney or financial advisor who understands the implications of exercising your rights and taking an accelerated death benefit.

As your independent agent, we are here to help guide you through what is a very difficult time for everyone. Please give us a call and talk to an independent agent so you can explore other possible options such as pursuing a viatical or life settlement in the secondary market for insurance.

Are there any guidelines to be followed after a business loss has occurred in San Antonio, Texas?

If you have suffered a business loss in the San Antonio, Texas, area, we are here to help! Our trained and experienced independent agents are available to discuss your specific situation and provide you with some guidelines that may help you to sort out this difficult development.

It is a challenging time for so many with the recent turn of events in the economy, but your Comal county and Bexar county insurance representatives are standing by with some simple solutions. Many commercial entities are going through similar business conflicts. We are prepared to listen and gain an understanding of your situation, no matter how difficult or complex it may seem. Our job is to take the difficulty out this disaster and help you get back on your feet. When it seems like no one can help, it is simply not the case. Our independent agents have handled hundreds of cases just like yours. We will work with you to understand exactly what has transpired, and then provide a plan that is unique to your needs. We believe in working with our clients for total resolution whenever possible.

We take great measures to ensure our independent insurance agents are up to date on current events, the latest insurance policies, government regulations, and San Antonio insurance laws. Do not delay. We want to hear from you, share our knowledge, and make your life easier at a time when it seems like there are no answers. Contact your San Antonio, Texas, office today and get the support you have been waiting for.

My neighbor’s kid got injured while playing at my home’s trampoline, Will my San Antonio, Texas insurance company be responsible for such claims?

Your homeowners insurance policy not only covers damage or loss to your dwelling, but it also provides liability coverage to protect you against any claim that may be filed if someone is injured while on your property. If your neighbor’s kid is playing with your kid at your home in San Antonio, Texas, you should try to keep an eye the children. As an adult and a parent, you should lay down the law that there should be no rough-housing or other risky behavior.

Of course you can no better predict what a child of 10 might do than you can predict whether it will rain next Saturday. Even if you warn your neighbor’s child to stay off the trampoline, you may still be held liable if he or she ignores your warning and climbs up on the irresistible piece of sporting equipment.

If little Johnny starts jumping up and down and then falls off when he tries to do a back flip, the parents of the injured child may politely request that you pay for Johnny’s medical bills..If you agree with the parents and agree to pay for the medical attention that their son requires, you can file a claim with your homeowners insurance.

Your insurance company will investigate the incident and usually agree to a settlement with the injured party. In the event that you want to fight the claim, your home insurance company will stand by you and help pay for any legal costs that you incur while mounting a defense against any potential lawsuit. Whether you buy insurance in Bexar County or Comal County, Texas, or live in San Antonio or Laredo, you should have homeowners insurance.

If you have any questions about whether or not your liability insurance will cover an accident that occurs on your property, please give us a call. An independent agent is always available to review your homeowners policy and make sure you have the proper amount of coverage for your home.


Difference Between Agreed Value and Market Value in San Antonio, Texas

Texas has a mandatory minimum auto insurance coverage requirement for drivers in the state. Most car owners in San Antonio, the rest of Bexar County and Comal County insure their cars with standard auto insurance policies. But there are some situations were the value of a car, either because of its age, the restoration work, or the modifications and customizations, make the car worth a lot of money – in fact enough that typical car insurance isn’t adequate to cover the cost of repairing or replacing it if it is damaged, destroyed, or stolen.

As your independent agent, we want to make sure that you understand the difference between agreed value and market value so you buy the best auto insurance for your needs.

Agreed Value

When you insure a car for the “agreed value,” the insurance company effectively agrees to pay you the amount you mutually agree on if something happens to the car. There is no reduction in what you receive due to depreciation or anything else. The policy is written for the fixed amount that the car owner and insurance company agree on. That value is determined by the car’s monetary value and what it costs the car owner to protect and maintain it.

The typical types of cars that benefit from agreed value insurance are antique cars, classic cars, cars with major customization and modification work, and racing cars. Most insurance companies have specific requirements that car owners must meet to qualify for this type of insurance. The car may have to be at least 15 years old, and if it isn’t that old, it is a newer automobile with major modifications and custom work that makes it worth much more than market value.

Premiums are a lot lower for agreed upon insurance, but there are strict stipulations that the car owner must agree to, so the deal isn’t signed, sealed or delivered at the snap of your fingers. You may have to agree to protect your car in a secure garage, and you won’t be able to drive it as you would a normal vehicle, and you won’t be able to use it commercially. If you go to classic car shows, you can drive it for that.

Market Value

Once known as the Kelly Blue Book, now it is just called The Blue Book. It is a guidebook for insurance companies and automobile dealers to use in figuring out a car’s value, based on age, mileage and condition. When you insure your car under a standard policy for market value, that means that if the car is totaled, you would be reimbursed for the blue book value, which factors in what you paid for the car, minus depreciation, based on the car’s condition, and mileage.