Three types of life insurance you might be interested in carrying

Understanding the different types of life insurance and how they work before you choose a policy is essential. At Access Insurance Services, we can help you find a life insurance policy in San Antonio, TX.

The following are three types of life insurance you might be interested in carrying. It would help if you understood the differences between these policy types before selecting a policy for your needs.  

Term life insurance

Term life insurance is a temporary form of life insurance. These policies are typically offered over fixed periods such as one, five, or 10-year terms. 

While a term life insurance policy won’t accumulate value over time, it will offer the advantage of inexpensive premiums. Term life insurance comes along with some of the least expensive monthly premiums out there. 

Whole life insurance

Unlike term life insurance, whole life insurance is a form of permanent life insurance. This life insurance accumulates cash value over time and offers lifelong coverage.

Universal life insurance

Universal life insurance is a type of permanent life insurance, just like whole life insurance. However, universal life insurance offers the benefits of adjustable premiums and death benefit amounts. There are three types of universal life insurance: indexed universal, guaranteed universal, and variable universal life insurance. 

Every consumer’s situation is different. When choosing a policy, you should consider factors such as how much of a death benefit you need, how long you need coverage, and how much you can afford on monthly premiums.

Get in touch with Access Insurance Services for quotes on life insurance policies and the information you need to make the right choice regarding insurance coverage. We’re here for consumers in San Antonio, TX who are on the market for life insurance. 

Factors to consider when determining commercial insurance coverage

Your company needs an adequate amount of commercial insurance coverage to protect your assets. If you’re looking for the right commercial insurance provider, you should know that we offer insurance coverage to businesses in San Antonio, TX at Access Insurance Services.

One of the most important decisions you’ll make when you purchase commercial insurance is how much coverage to carry. The following are three factors to consider when determining how much commercial insurance coverage to carry. 

Legal requirements that you need to meet

If you are legally required to carry certain types of commercial insurance, such as workers’ compensation coverage, you must meet legal requirements with your coverage amounts. Workers’ compensation and commercial auto coverage are two types of coverage that are generally required by law. 

Make sure you research how much coverage you legally need to meet your company’s legal responsibilities with your commercial insurance policy. 

The total value of your company’s assets

Your company’s value is an essential factor in determining how much coverage you should carry. More valuable companies with more assets need to carry more commercial insurance coverage than smaller companies with fewer assets. That’s why you should evaluate your company to decide how much commercial insurance coverage to carry. 

The unique liability and property damage risks for your company

Suppose your company operates in an industry with common injuries and high liability risks. In that case, you need to ensure that you carry an adequate amount of commercial insurance for the risk. It would help if you also were sure to carry proper coverage of the dangers of natural disaster damage to your commercial property caused by your geographic location.  

Do you have questions about commercial insurance coverage in San Antonio, TX? Get in touch with us at Access Insurance Services to learn more about commercial insurance coverage options for your company.