5 Questions to Ask Your Life Insurance Agent

Life insurance is not always something that people want to talk about, but it is important. It can help protect a family’s future if one of the family members passes away. But getting the right policy in the correct amount can feel confusing. Fortunately, Oliver Insurance can help residents of Canby, OR and the surrounding area get the life insurance they need to keep their family safe. That can give them a lot of peace of mind, and reduce worries and fears over what could happen in the future. Asking the right questions when getting life insurance is very important. Here are five to specifically address.

1. Who is the beneficiary of this policy, and can that be changed?

2. How much will this policy cost every month, and does the premium go up with age?

3. Is this term life or whole life insurance, and what is the difference between them?

4. Is there an age limit after which this policy is not renewable?

5. Are there specific causes of death that this policy does not provide coverage for?

The more a person knows about their life insurance, how it works, what it covers, and who benefits from it, the more they can work to get the policy that is really best for them. Canby, OR residents, and people who live in that general area should reach out to Oliver Insurance, where they can get their questions answered by knowledgeable agents. They can also get quotes from several different companies, so they can choose the life insurance policy that makes the most sense and will be the best for them. It is one of the easiest ways to provide good peace of mind, and to feel comfortable about making plans for the future.

What is the Youngest Age a Person can Buy Life Insurance?

When it comes to investing in your child’s future, one of the wisest choices you can make is to invest in life insurance. And while you may think that we are referring to life insurance on yourself — a policy that would pay out to your child in the event of your death — we are actually referring to a life insurance policy on your child. Why is it so important to invest in a policy for your child? Think about it. Don’t you want to leave your child with financial assistance in the event of your death? Sure you do, and your child will want to do the same for their children. But you don’t have to leave it to your child to buy a policy when they get older. Instead, you can invest in one for them while they are still young, locking in extremely affordable rates. 

When you buy a policy for your child while they are still young, the premiums will be much more affordable than they would be if your child waits until he or she is older and starts to invest in a policy. For example, a 5-year-old is likely to get a $10,000 policy for well under $10 a month, with these rates locked in. And many insurance policies will allow the policyholder to double their policies several times throughout their lives and only a minimal increase in the policy premium will take place. 

To learn more about buying life insurance for your child, please contact Oliver Insurance serving the Canby, OR area. A qualified insurance agent can help you choose a plan that best meets your needs. 
 

6 Questions to Ask When Getting Commercial Insurance for Your Business

Every company generally needs commercial insurance, but there may be some exceptions to the rule. Additionally, just because companies need insurance does not mean that insurance will be the same for everyone. There are very different types of companies, and that means very different needs. Here are six of the most important questions any Canby, OR company should ask when they are about to get commercial insurance, and Oliver Insurance can help answer those questions.

1. Is commercial insurance necessary for this business?

For people who work online at home, for example, commercial insurance may not even be needed.

2. What coverage limits should be considered, and why?

Coverage limits should be proportionate to the kind of business being operated and the risks that come with that business.

3. Which company is providing this insurance protection?

The quality and trustworthiness of the company is important, but there are many good companies to choose from.

4. What kind of deductible does this policy come with?

A deductible will have to be paid before insurance pays out on a claim, so it is important to know what that amount will be.

5. What if coverage needs to be changed later?

Being able to easily adjust coverage with a phone call or email to the agent can be very valuable as business needs change.

6. Is someone available to help if there are more questions?

Having a dedicated agent to help with concerns is a valuable part of working with a good insurance company.

By getting answers to the most important questions about commercial insurance in Canby, OR, companies can much more easily determine what their true needs are. That can help them protect themselves, and have the peace of mind they need to feel stable and comfortable with the products and services they provide to others. Reach out to Oliver Insurance today, and start getting the information and assistance needed to have the right commercial insurance policy.

How to Protect Your Business From Personal Injury Claims

It’s difficult to be completely covered from personal injury claims. But if you can put every precaution into place — which includes getting the proper insurance coverage for your business — you’ll likely be able to stay protected and ultimately save your business thousands of dollars, if not more.

How to Create the Ideal Protection for Your Business

Of course, the best way to prevent personal injury claims from occurring against your business is to prevent accidents from happening. This means taking care of your property, hiring responsible employees who are great at their jobs, and taking extra safety and security precautions.

The next step is to have general liability insurance coverage for your business. Often, this comes along with property insurance, but you’ll need to speak with your insurance agent to be sure.

General liability insurance covers your business in the event that someone attempts to sue you because they were personally injured on or because of your business, employees, or property. You’ll also have property damage coverage as well as coverage for things like advertising injury issues, slander, and libel. These latter problems are things that business owners often don’t think of, but they should.

Contact Oliver Insurance for Help With Commercial Coverage

Are you a business owner in Canby, OR who is looking for help with commercial insurance? Finding great deals on commercial insurance for your business can be a challenge, but we’re here to help, and we’re proud to serve business owners in Canby, OR.

Give us a call at your earliest conveniences, or stop by one of our local offices. One of our knowledgeable and skilled insurance agents can sit down with you to discuss your commercial insurance options as soon as today! We look forward to hearing from you at Oliver Insurance!

Assurance with Insurance

There is certainly no doubt about it that we are living in turbulent and uncertain times. The news is constantly filled with issues of every assortment, and people are having trouble getting a handle on just what exactly is going on in the world around them. Thankfully, this kind of uncertainty does not have to extend to your assets and personal belongings.

Insurance now more than ever is a vital thing to have. Not only is some form of insurance legally required in many places, but it also is needed everywhere. From wild forest fires to floods, to hurricanes, droughts, earthquakes, and political unrest, now has never been a better time to get your assets insured in case of a pending disaster.

With this kind of climate you do not want to be caught with your proverbial pants down, as a devastating loss could be just around the corner, and without the proper coverage, there is not a whole lot that could be done about it should the unthinkable happen. 

That is why it is better to simply not take the risk. Do the due diligence and make sure that you and your family are protected reasonably from any number of events that could affect you in a negative way. Rest easy knowing that even in the worst situation your assets will be protected and in a worse case scenario you will still be financially stable.

If you would like to get or up your insurance but aren’t sure where to start, try getting in contact with Oliver Insurance, they service many areas, including Canby, OR. With the help of these professionals, you can weigh your options and see which insurance plan is right for you and your family’s needs. Then you can finally get some uninterrupted sleep. 

What Does Boat Insurance Cover?

Boaters residing in Canby, OR are not required by law to carry boating insurance on anything that is considered to be a pleasure boat, and this includes motorboats or sailboats that are used for personal use or even for racing. Your bank will usually stipulate that your boat must be covered until it is paid off, and boat insurance is a good investment that many people choose to make even if they do not currently owe money on their craft.

What Does Boat Insurance Do?

Boat insurance helps provide financial protection against the losses or damages that can occur to your boat. This generally does not include personal watercraft, or jet skis, canoes, or kayaks but will include vessels used for fishing, pontoon boats, leisure crafts, and yachts. A separate policy will be needed for a personal watercraft, and your homeowner’s insurance will likely provide a limited amount of coverage for a smaller craft like canoes. 

You can purchase collision damage protection that will help cover costs related to replacing and repairing your boat after a wreck, and property damage liability indemnification helps take care of expenses related to other people’s property that you damage with your boat. Bodily injury coverage helps pay for medical bills and lawsuits pertaining to injuries sustained because of your boat, and comprehensive coverage is for scenarios where your boat is stolen, vandalized, or hurt in situations other than an accident. You can also purchase underinsured or uninsured boat insurance to provide coverage when in an accident with someone who has no or insufficient insurance. 

Oliver Insurance Can Assist You

Oliver Insurance has been faithfully serving the community in Canby, OR, providing them with quality insurance to meet their specifications.  We welcome you to stop in or call us to schedule an appointment, and we will be happy to find an insurance package to meet all your boat insurance needs. 

The Universal Life Insurance Issue

Universal life insurance made its red-carpet entrance into the insurance industry marketplace during the 1970’s. By the time the 1980’s-1990’s arrived, Universal Life Insurance had become a major player in the insurance world and, eventually made up ¼ of all life insurance policies purchased during this time, even for those living in and around Canby, OR. 

Universal Life Insurance Defined

Universal life insurance is a permanent, hybrid life insurance policy that combines the affordable characteristics of a term-life insurance policy with the savings available by a whole life insurance policy.

Universal life insurance, offered by Oliver Insurance, is designed to provide policyholders a “cash value” savings account that earns tax-exempt interest. The amount of interest earned depends upon the current interest rate environment.

Why Some Universal Life Premiums Are Soaring

We live in a true global economy. Interest rates began to their steady decline in the 1980’s, and then plummeted even further around the 2008 recession. As a result, the Federal Reserve reacted to the economic recession quickly. In response, they lowered the cost to borrow money, but ultimately, these reduced interest rates impacted all investors, even life insurers in Canby, OR.  

The Market’s Reaction

Understandably, universal life policyholders — many who were reassured by salespeople when they purchased their universal policy years ago, have reacted negatively to this cost increase.

Protecting Universal Life Policyholders

Regulator and consumer advocates alike, have been advocating to protect universal life policyholders (especially those with seasoned life insurance policies) from these soaring premium increases.  

Advice for Longtime Universal Life Policyholders

Try to stay ahead of the curve by:

  • Contacting your Oliver Insurance to learn how to determine your current policy’s cash reserves.
  • Working with your insurer to lower the policy’s death benefit, and thus, your costs, if possible.

           

 

3 Common Risks Commercial Business Owners Face

When you own a commercial business in Canby, OR, you may want to consider what it really means to operate on a daily basis. It’s not uncommon for owners to assume that they’ve taken all the necessary precaution when they in fact the face a number of risks in their neighborhood.  Oliver Insurance may be able to help you get a more realistic idea of what it means to be responsible for your employees, clients, and property. 

1. Litigation 

Business owners should have preventative measures in place if they happen to be sued by either customers or employees. Often times litigation is entirely legitimate. For example, an employee may need to sue for additional consideration for injuries they sustained on the job. However, other times people may see successful businesses as a target for their own gain. No matter why a lawsuit is initiated, owners should be able to fight or settle based on its merits without fear.  

2. Natural Disasters 

Canby, OR may not face a lot of blizzards or hurricanes, but they may be involved with earthquakes or big storms. Weather damage can be difficult to account for when it comes to your property, which is why owners are often unprepared for what may come after the winds have died down. 

3. Limited Insurance 

Most commercial businesses have some type of commercial insurance, but they may not have enough of it to really help in the event of a crisis. Calling Oliver Insurance is an excellent way to prepare yourself for all that may lie ahead when it comes to your particular needs. We can ask you the questions and give you the advice it takes to get the best possible policy. Giving us a call today is always the right step to protect your livelihood. 

Why Boat Insurance is Just as Important as Car Insurance

Everyone knows the importance of having car insurance, especially because it’s illegal to cruise down the road without it. Boat insurance, on the other hand, is commonly overlooked. Without boat insurance from Oliver Insurance, serving Canby, OR and the surrounding area, you could find yourself in a bind.

Not Everyone Has Boat Insurance 
Not everyone has boat insurance since it’s not required except for when your boat isn’t paid off and your lender requires it. Therefore, if your boat is on the water and another boat hits yours, you could find yourself responsible for the entire cost of the repairs if the other boater doesn’t have insurance. If you can’t afford to repair it right away, you just won’t be able to use your watercraft until you can pay to repair it. 

Expenses You Could Be Responsible for
Let’s say a passenger on your boat slips, falls and gets hurts, or maybe you get into an accident with another boat and hurt a person on that boat. You’ll be responsible for whatever medical bills accrue as a result of the accident. If you damage someone else’s property with your boat, you’ll have to pay the cost to repair the damage. If you can’t afford to pay the cost, it’s possible the person will sue you. With boat insurance, the damage is covered. 

Covers Your Boat
Your boat is an investment. Let’s say a storm hits your boat or a vandal damages it. You could find yourself not able to go out on the water until you can pay for it unless you have boat insurance. 

To get a quote or open a new boat insurance policy, contact Oliver Insurance, serving Canby, OR and the surrounding area, by calling 503-263-6968. 

What does commercial insurance cover for a small business?

When you run a small business in Canby, OR, you may wind up needing to seek a commercial policy through Oliver Insurance sooner than you think. So the question is what exactly the commercial policy will cover for a small business.

It comes down to your industry and the products or services you provide. If customers, clients or even business partners are visiting a physical location, whether it’s a repair shop or a restaurant or just a home office, then commercial general liability is a must.

Commercial property coverage will, of course, cover losses due to a fire, theft, etc. It may even cover loss of income resulting from these damages. This might not be necessary if you work from home, but is essential if you run a restaurant, a food truck, anything that is not covered by an existing policy.

Beyond this, commercial insurance essentially covers all of the same things for a small business as for a large business, but at a smaller scale. You can look into professional liability insurance if, for instance, you are a writer and you don’t want to be hit with a libel case. You can look into a home-based business plan if you want some extra protection for a small startup. There is product liability insurance if you sell on Etsy and want to make sure that nobody can hold you accountable if they are injured by one of your products. There’s workers’ compensation if you have employees, property insurance for the physical location, vehicle insurance for the delivery truck and so on.

If it’s a risk that you cannot afford to cover yourself, then contacting Oliver Insurance might not be a bad idea to protect your Canby, OR business.