Is life insurance for children a good idea?

Whether insurance for children is a good idea, is a matter of controversy in some circles. There are positives and negatives to the equation. Many financial advisors say the priority should be in making sure the parents have adequate life insurance, and once that is in place, other options can be considered. The pros at Access Insurance Services of San Antonio, TX can help you determine what is in your and your family’s best interest.

The primary benefit would be to cover costs involved in the event that a child dies. This rarely happens, so the odds are not very high, but still the cost of such a policy is an added expense. If your child is a major movie star, however, that could change the picture.

Another positive that is offered is that it makes sure a child will be eligible for insurance in the future if the child develops severe medical problems that might make it difficult to get insurance later in life. Again the odds of this happening are small.

A third area that is brought up at times is the idea of it being a means of savings, such as a whole life or permanent life insurance policy. This could create some cash value later on in life. However, the negative side is, you could perhaps do just as well with a savings account and not have the added cost of paying for insurance you may not ever need.

There is no clear black and white answer, and everyone’s situation is different. If you are considering this option, contact us at Access Insurance Services San Antonio, TX to go over your insurance needs. We can help you determine what is best for you and for your child’s future.

What You Need to Know About Commercial Property Insurance Tax-Deductions

Some business owners in the San Antonio, TX area choose to rent commercial property instead of own because of the possible risks of owning. If you decide to lease your commercial space, did you know that you can reap some serious benefits? 

Leasing property for commercial use means that it is your responsibility to carry commercial insurance.  It’s to your benefit because it can protect the investment the items and equipment necessary to run your business in case of a catastrophe, such as fire, theft, or natural disaster. It also protects you if someone is injured inside your space and you are found liable for any damages to that individual. 

The best news is that commercial insurance is tax deductible for your business because you are protecting yourself, your business, and the property where you conduct your business. Most all insurance options associated with your commercial rental space are included, such as extra coverage for flood, landlord liability insurance, and even the cost of health insurance and workers’ compensation for employees that work in or out of the rental space.

Another benefit of a commercial insurance policy is that it can allow you to combine a variety of insurance coverage needs into a single plan that is more cost effective. Often, you can find better deals by bundling insurance needs together than selecting them separately. Finally, if your business is adversely affected by a rare weather event, you will be able to take a deduction on your taxes for part or all of the loss.

Access Insurance Services

Access Insurance Services provide a variety of insurance options in the San Antonio, TX area. Contact an Access agent today to discuss your commercial property insurance needs to protect your business space.