Buying life insurance for a child is not for everyone, but it can be a wise choice depending on your circumstances. The team at Don Allred Insurance is always ready to discuss these issues with you. In the meantime, let’s review a few pros and cons.
- Relatively Inexpensive: Life insurance for children is inexpensive compared to policies for adults. Buying a policy allows you to lock in low rates, which are lowest for younger children.
- Guaranteed Insurability: Paying your premiums means your child will always have life insurance regardless of their future medical status. This can be critical if your child or your family has a history of medical challenges.
- Cash Value: All life insurance policies for children are whole-life policies, so a portion of the premiums builds cash value for the future.
- Final Expenses: In the unlikely event of your child’s passing, money will be available to handle the arrangements.
Long-Term Commitment: Premiums are payable for years or decades, so buying a policy makes the most sense if you are confident you will always be able to make the payments.
Low Rate of Return: Other investments typically have higher returns than life insurance. It is often better to safeguard your child’s future by ensuring the proper level of life insurance for yourself, your spouse, or others.
Coverage Limits: The total value of policies for children typically are capped at less than $100,000.
Contact Don Allred Insurance
Buying children’s life insurance can be a good choice for some families. Medical status, financial resources, and the other arrangements you’ve made all come into play. As always, the Don Allred Insurance team serving Burlington, NC can help you consider whether children’s life insurance makes sense as part of your broader insurance coverage.
Your car insurance policy is only one of the ways to keep yourself safe on the road. It is always far more important to learn ways to prevent accidents from happening in the first place. Here at Don Allred Insurance, serving Burlington, NC, and the surrounding areas, we make it our job to educate clients on all aspects of road safety. Keep reading to learn how vision problems can affect your driving.
Astigmatism is one of the most common types of vision issues. This is also one type of vision problem that is often ignored and goes undiagnosed. This vision problem affects the way your eyes perceive light. The cornea of the eye is not shaped properly in people with astigmatism, so light does not get adequately refracted as a result. This can cause blurry vision and halos of light and cause problems with night driving as well.
Far-Sighted and Near Sighted
People who suffer from being far-sighted or near-sighted have trouble seeing things up close or far away. It is vital when driving to be able to see appropriately both far away and up close.
How This Affects Your Driving Safety
When you are on the road and cannot see properly, you are putting yourself and everyone else at risk. You will not have the same amount of reaction time if you can’t see what is coming at you. You also might panic more easily when you cannot clearly see where you are going.
To prevent these types of unsafe driving conditions, it is important to have vision problems treated adequately with contacts or glasses.
If you want to learn about our auto insurance plans, please get in touch with us at Don Allred Insurance, serving Burlington, NC, and the surrounding areas.
Owning a home in the Burlington, NC area has proven to be an excellent long-term option for many people. When you move here, being an owner will provide you with a consistent place to live, the ability to hedge against inflation, and build equity over the years. If you want to own a home here, having insurance is essential. You need to have this coverage for many reasons.
Protect Your Assets
Your home is likely one of the most important and valuable assets you will ever own. When you invest in a home, you will want to know your investment is covered, and getting insurance is one of the best ways to do this. With home coverage, you will have support if a covered risk damages your home. You also will have coverage for your personal belongings up to limits set by your policy.
Reduce Liability Concerns
Getting home coverage to reduce liability risks is also a good idea. If you are going to own a home, you will take on some liability risks. If there is an accident at your home, you could be found liable for the damages. When you have a proper insurance plan, you can reduce some of these risks as it will offer financial support in these situations.
There are many great reasons to purchase a Burlington, NC area home. When you would like to invest in a property here, calling our team with Don Allred Insurance would be helpful. Our insurance professionals at Don Allred Insurance know the value of this coverage and will offer any support you need to build your next plan.
Suppose you’ve ever received a spam message that claims you are the beneficiary of millions of dollars from someone you don’t recognize. In that case, you may wonder how you would tell if you were the real beneficiary of a life insurance policy.
At Don Allred Insurance in Burlington, NC, we know that being the beneficiary of a life insurance policy can help to ease some of the financial pain of a loved one’s death. Whether you have received a notification that you are the beneficiary of a life insurance policy or you suspect that you may be the beneficiary, there are some ways that you can officially find out if this news is legitimate.
What is a life insurance policy beneficiary?
In life insurance policies, the term “beneficiary” refers to the individual the policyholder has legally assigned benefits from the policy in the case of the policyholder’s death. Depending on the policy, this could also be an entity or group of individuals.
When the life insurance policyholder passes away, the beneficiary can file a claim and receive the policyholder’s death benefit. Suppose a policy does not have a beneficiary. In that case, the policy’s benefits will be turned over to the state where the holder used to reside, such as North Carolina for a North Carolina resident.
How can I tell if I am a life insurance policy beneficiary?
The easiest way to tell if you are the beneficiary of a life insurance policy is by directly contacting the insurance company where the policy is held. You can also use a life insurance policy locator.
If you think you may benefit from a life insurance policy at Don Allred Insurance in Burlington, NC, call our office today!
With the legalization of medical marijuana in many states, more and more people are using it for their medical conditions. Even though it hasn’t been legalized in Burlington, NC, Don Allred Insurance knows there is a lot of confusion surrounding medical marijuana and health insurance.
The answer depends mainly on the specific policy you have. While some insurers may refuse to cover any costs associated with marijuana use, others may not even consider it when making coverage decisions. In most cases, however, your insurer will not deny coverage simply because you use marijuana for medicinal purposes. Other factors, such as the type of treatment or medication used, may still affect your coverage eligibility.
It’s also important to note that while many states have legalized medical marijuana, it is still illegal under federal law. As a result, insurance companies operating on a federal level (e.g., employers offering group plans) may refuse to cover any costs related to its use. Some employers may have policies prohibiting employees from using medicinal marijuana on the job or during work hours.
Ultimately, whether or not your health insurance could be affected by using medical marijuana depends on the specifics of your policy and the laws in your state. It’s always best to check before trying new medications or treatments to ensure they will be covered under your policy. If you’re a Burlington, NC resident looking for assistance understanding how medical marijuana could affect your health insurance coverage, don’t hesitate to contact Don Allred Insurance today! We’d be happy to help answer any questions you might have about this topic and provide guidance as needed.
If you’re a Burlington, NC resident and own a car, navigating the different types of auto insurance coverage options can be challenging. At Don Allred Insurance, we provide Burlington residents with various coverage options tailored to each person’s individual needs. Whether it’s liability insurance, collision coverage, or comprehensive auto insurance plans, we have a range of coverage options that Burlington residents can rely on. Here’s a quick look at some of the different types of auto insurance coverage available from Don Allred Insurance and what they mean for Burlington drivers.
Most states require liability insurance to cover any damage, bodily injury, or property damage you may cause to another party in a car accident. It doesn’t cover any damage to your own vehicle. Still, it does give Burlington drivers the peace of mind that they won’t be held personally responsible for any damage caused to another party.
Collision coverage is optional and pays for repairs or replacement of your car if it is damaged in an accident. Drivers can choose to have a deductible applied to their policy, reducing the amount they pay out of pocket for repairs or replacement costs.
Comprehensive Auto Insurance
Comprehensive insurance coverage covers damages not caused by a car accident, such as extreme weather, vandalism, or collision with an animal.
Contact An Expert
It can be difficult to choose between the coverage options available for car owners. At Don Allred Insurance, serving Burlington, NC, we help drivers understand the different auto insurance options available to choose a plan that’s right for them. Contact Don Allred Insurance today for more information on auto insurance coverage options.
There are a few insurance options to choose from when selecting your home insurance. You may choose to secure the replacement value of your home, or you can cover the house for the market value. To find out which option best suits your needs, you can count on Don Allred Insurance, proudly serving Burlington, NC. We make finding the right insurance policy easy and more straightforward.
Home Insurance Coverage
You can insure your home for more than it’s worth when you choose replacement value policies. That means the insurance will pay for the replacement value of your home rather than the market value. The home’s market value can differ occasionally, but replacement value provides the coverage you need to rebuild your home after a covered event.
Get the insight and assistance you need to get the right coverage for your needs by consulting with a knowledgeable insurance agent at Don Allred Insurance. We are focused on providing exceptional customer service to ensure you get protection from risks to your home and property. We also offer customer service before, during, and after the policy purchase. It’s all a part of our commitment to providing exceptional services to the residents of Burlington, NC, and the surrounding areas.
Call Us Today
If you want to learn more about the insurance options we offer or need assistance finding the right policy for your needs, we would love to help. Call or stop by our office to speak with one of our helpful agents today. Be sure to secure the protection that offers you peace of mind.
Do you live in the Burlington, NC area? Do you wonder what would happen to your loved ones in the event of your passing? Don Allred Insurance can help with a life insurance policy.
Buying life insurance will protect your loved ones from the devastating financial losses that could result in the event of your death. It will provide financial security, pay off debts, and help with living expenses, medical costs, and final expenses.
An accident or devastating illness can happen to anyone at any time. So, even if you are young, your family needs the protection a life insurance policy can provide.
There are three basic types of life insurance.
- Term life insurance provides coverage at a fixed rate for a period of time. After expiration, the client must renew the coverage. If the insured dies during the term, the death benefit is paid out to the beneficiaries. Term insurance is the least expensive life insurance.
- Whole life insurance has significantly higher premiums. It is renewed for your lifetime. The coverage matures as the policy grows in value, and withdrawals can be made for any reason. It serves as an investment tool as well as an insurance policy.
- Universal life insurance is permanent life insurance. With this policy, the insured is covered for their entire lifetime as long as the premiums are paid and any other policy requirements are maintained. There is a savings component with lifelong protection with this type of insurance. When you pass, the death benefit is paid out.
Don’t leave your loved ones without the financial security they will need and deserve. Life insurance will provide that security. Don Allred Insurance can provide you with a no-obligation quote or answer any questions you may have. Contact our office today.
At Don Allred Insurance, we want you to understand your options, so your insurance works entirely for you. In a previous blog, we explained what underinsurance means; in this blog, we’ll address the process to correct it.
Unless you work for yourself, your employer provides health insurance for you. Self-employed individuals choose their insurance, so you pick your level of coverage. However, those who work for companies owned by another individual get the insurance that their employer chose for their group health plan.
Most North Carolina employers pick decent coverage, but you might want better coverage or have a pre-existing condition that it doesn’t cover. You can and should obtain personal health coverage to supplement your employer’s coverage. You’re allowed to do that.
You can choose the coverage you want, and Don Allred Insurance can help you. To select your coverage, phone us or email us. We’ll ask you a few questions about your health and current coverage. This lets us determine what you need to fill in the blanks left by your other insurance.
While your employer pays the premiums for your workplace policy, you will handle the premiums for your supplemental policy. These vary depending on the type of coverage and the policy benefits. Some policies include dental and vision coverage, while others only cover medical health needs. You can choose a plan that provides precisely what you need.
Contact Don Allred Insurance today to purchase supplemental personal health insurance. Although you probably already have some medical coverage, we can help you fill in the blanks left by that policy.
When you marry, you join in holy matrimony, but you might need to keep your auto insurance separate. Despite the commercials on TV, if one-half of the happy couple has a poor driving record or a DWI/DUI on their record, you shouldn’t share a policy.
At Don Allred Insurance, we serve Burlington, NC residents with auto insurance to help them protect their financial futures and their vehicles. We also try to help them save money. Ideally, a couple saves money when they bundle their auto insurance by combining the policies.
It doesn’t always work that way though. A few scenarios could cause the insurance rates of the spouse with a perfect record to increase, while not affecting the other spouse’s premiums. So, why will it probably hurt one-half of the happy couple to merge the policies?
- A spouse has a very poor credit score.
- A spouse has a driving under the influence (DUI) or driving while intoxicated (DWI) charge on their driving record.
- A spouse has a poor driving record, resulting in the loss of points.
Instead of the individual with the ideal record balancing the record of the individual with bad credit or driving habits, it works the opposite way if they try to get an auto policy together. The premium of the individual with a bad record stays the same, but the premiums of the driver with a good record go up.
Talk with your spouse before visiting Don Allred Insurance. It’s better to talk about your credit and driving experiences before trying to merge your insurance. Enjoy your marital bliss in Burlington, NC, and keep separate policies if one of you has bad credit or a poor driving record.