Your Insurance Policy: A Lifeline During Difficult Times
The team at Staples and Associates understands the immense challenges our neighbors in the south are facing in the wake of recent devastating hurricanes, storms, and floods. Our thoughts are continuously with those who have lost homes, livelihoods, and loved ones.
As an insurance agency, we know that when disaster hits, there are a lot of questions about what insurance provides for when catastrophe hits. We’re here to offer guidance on your insurance policies, such as flood and life insurance, and how these can be a lifeline during difficult times.
What Flood and Life Insurance Provide When the Unthinkable Happens
Both flood and life insurance protect individuals and families, especially after catastrophic events like hurricanes.
Most homeowners’ insurance does not cover flood damage. While homes and businesses in some areas are required to have flood insurance, floods can happen anywhere at any time. Flood insurance covers both physical damage to your home or building, as well as your belongings. It also offers:
- Building Coverage: Covers damage to homes caused by flooding, including structural repairs to things like electrical and plumbing systems and more.
- Contents Coverage: This includes personal belongings like clothes, furniture, electronic equipment, curtains, microwaves, washers, and dryers, among other items.
Learn more about getting flood insurance from Stapes and Associates or contact an agent with questions.
Life Insurance
In essence, life insurance is financial protection after the loss of the insured, which may cause financial hardship for the insured’s family or business partners. Life insurance policies can be used for income replacement, covering debt, educational funding, mortgage protection, and wealth transfer, among other things.
- Term Life: Because of their low cost and simplicity, these policies are widely popular. Term Life policies are generally good for 10, 15, 20, or 30 years and pay a death benefit if you pass away within that period.
- Whole Life: These policies last for the whole life of the insured, and act as an asset with a cash value that will grow, tax-deferred, over time.
- Universal Life: While these are the most flexible policies, universal life is typically structured to meet permanent death benefits, cash accumulation, or a combination of both. An agent from Staples and Associates can tailor a Universal Life policy to your needs.
Life insurance offers peace of mind knowing that loved ones will be taken care of, allowing families to focus on recovery and healing. If you or a loved one are interested in life insurance, learn more from Staples and Associates, or contact our team.
Together, flood and life insurance can create a safety net, helping families rebuild their lives and maintain financial stability in the aftermath of a disaster. Review your policies today with a Staples and Associates agent.