Month: February 2025

Commercial Insurance Tips for Small Businesses

Posted on by AgentInsure

Many small businesses in Matthews, NC often operate on tight budgets, but insurance isn’t something you should skip. Commercial insurance could financially save your small business if something major happens. Here are some tips to help you find affordable commercial insurance coverage.

1. Bundle Coverages for Better Protection & Savings

Many insurance providers offer business owners policies (BOPs), which bundle essential coverages like general liability, property insurance, and business interruption coverage. These are usually bundled together at a lower rate than they would be if purchased separately.

Bundling these coverages can ensure you have a solid foundation of protection, help you save on premiums, and make managing multiple coverages easier.

2. Consider Higher Deductibles to Lower Premiums

Choosing higher deductibles can significantly lower premiums. A higher deductible means you’ll pay more out of pocket if there’s a claim, but you might get a significantly lower premium for taking on that additional risk.

The amount you could save by increasing deductibles varies. Our agents at JC Demo Insurance Group can check policy specifics for you.

3. Work With an Independent Agent to Compare Options

When checking policies, working with an independent insurance agent is the easiest way to shop around. Independent agents aren’t beholden to any one insurance company — they’re independent. That means they work for you.

An independent agent can check policy options from multiple insurance companies, comparing coverages and rates. They also have the knowledge necessary to help you determine which policy option works best for your business.

If you own a business in Matthews, NC, contact the team of independent agents at JC Demo Insurance Group for help. We’ve worked with many small business owners and managers and will be glad to help you obtain the right commercial insurance.

What Happens If You Name a Minor As a Beneficiary And You Pass Away When They’re a Minor?

Posted on by AgentInsure

Planning for the future often includes naming beneficiaries for your life insurance policy. If you’ve named a minor as a beneficiary, it’s important to understand what happens if you pass away while they’re still underage. At JC Demo Insurance Group in Matthews, NC, we want to help you plan ahead to ensure your loved ones are protected.

Minors Can’t Directly Receive Life Insurance Proceeds

If a minor is named as a beneficiary and you pass away, the funds from your life insurance policy won’t be paid directly to them. Legally, minors can’t manage large sums of money until they reach the age of majority, which is usually 18 or 21, depending on the state. Instead, the money will be held in a trust or managed by a court-appointed guardian until the child is old enough to take control of it. This process can sometimes create delays or additional legal expenses. Without proper planning, the financial security you intended to provide could be unnecessarily complicated.

How to Avoid Issues When Naming a Minor as a Beneficiary

Many people choose to establish a trust or designate a custodian under the Uniform Transfers to Minors Act (UTMA) to prevent complications. This allows you to set specific terms for how and when the money should be distributed. It’s a simple yet effective way to ensure your child is financially supported without unnecessary delays or legal hurdles.

Let’s Plan for Their Future Together

At JC Demo Insurance Group in Matthews, NC, we’re here to help you make the best decisions for your family. Contact us today to review your life insurance policy and explore options to protect your loved ones, no matter what the future holds.