What is a business owner’s policy?

While North Carolina law does not require your Matthews NC business to carry a commercial insurance policy, JC Demo Insurance Group wants to explain why purchasing a business owner’s policy (BOP) provides you the financial protection you can’t afford to miss.

A BOP provides you with the three most common business insurance types in one policy. You save money since the premium costs less than purchasing the coverages separately. You need business insurance to protect you from business loss caused by named perils, the insurance term for weather events such as a tornado, hurricane, hail, etc. a BOP also protects you in liability issues such as if a customer slips and falls in your store, injuring themself. Finally, the BOP protects you from business interruptions such as closure while repairs from a fire take place.

If you apply for a business loan or try to land venture capital or angel investor funding, your insurance will comprise one of the top things they ask to see. Others include your business plan, business continuity plan, and your marketing plans.

A BOP from JC Demo Insurance Group includes business interruption coverage, liability coverage, and property damage. This provides businesses of any size or type from solopreneur to corporation with the essential coverage to protect their financial health as well as their physical business property.

While a BOP does not fulfill the needs of every company, you can find out if it fits your business’ needs by contacting JC Demo Insurance Group today. We serve the Matthews, NC area with the business insurance it needs to protect the economy. Talk to your agent today to learn if you could benefit from a BOP policy or if you need other types of business insurance such as a boiler policy or glass insurance.

Having life insurance is an essential lifetime financial strategy. Besides protecting your loved ones from financial distress when you pass on, you can derive many benefits from the life policy while still alive. At JC Demo Insurance Group in Matthews, NC, we will walk with you on the various life insurance types and customize one that meets all your needs.

Benefits of life insurance 

• Loan security

Your life insurance policy can act as security for loans in a bank. This could cater to such things as emergencies, school fees, or act as your retirement supplement. You don’t have to put your life investments on hold while saving for your life insurance policy.

• Tax-deferred growth benefits

Holders of life insurance policies receive tax relief on their incomes. The tax relief can act as a source of income with the benefits being used for other investments.

• Term benefits

Benefits from life insurance can be paid back on different terms. You can have these terms coincide with major life events such as your children’s graduation or for your planned wedding.

• Debt payment

Life insurance benefits can be used to repay off your mortgage upon your demise. The benefits can also be used to pay for crucial expenses such as medical bills or your children’s tuition fees. This is essential as it lifts the heavy financial obligation on your loved ones.

• Burial final costs

The burial costs could be overwhelming for your family. Life insurance benefits will ensure that you get a decent burial.

• Family inheritance

To maintain your family’s current living standards, life insurance benefits can be awarded as a form of inheritance to your family members. Our agents at JC Demo Insurance Group will discuss the kind of life you want for your family upon your demise and the most appropriate sum assured.

Please visit our website or talk to our agents at JC Demo Insurance Group in Matthews, NC, on life insurance’s many benefits.