Not only is it possible to have more than one life insurance policy from Strack Insurance Services, but you should also have more than one policy to truly protect yourself. Since it does cost you more to buy multiple policies, the coverage should be justified. If you are single and only make $45,000 a year, for example, then you probably don’t need to have millions in coverage, since life insurance policies are designed to protect dependents.

While not everyone may benefit from more than one policy in Arlington, TX, there are some instances where it works. If you need additional coverage after you have another kid or new mortgage, it may make sense to buy a new life insurance policy instead of just increasing the coverage limits on your current policy. There is an advanced financial strategy that comes with more than one policy, and this can be known as ladder strategy. This involves a few term life insurance policies that are designed to expire as you start to pay down debt. With this, you may have a 30-year, 20-year and 10-year term policy all at once. With this strategy, you may get lower premiums over the lifetime of the policies, instead of just one level premium. There is also the option to mitigate risk with more than one policy. It is vary rare that a life insurance company will go out of business, and there are protections in place for you if that happens, but some people just don’t like the idea of relying on one policy in order to plan for their beneficiaries’ future.

There are also different types of life insurance polices to consider. You may want a combination of term and permanent polices. Since term life insurance is put in place for a specific time period, many might want to rely on this coverage during a time of heavy financial burden. An example is when kids are young and there is a lot of principal left on their mortgage. This way, you still have a permanent life insurance policy for when your term policy drops off.

Contact Strack Insurance Services, serving Arlington, TX, to get a quote on life insurance.

Workers compensation insurance is not required by Texas state law, but it is a coverage that many employers opt to purchase to help protect their businesses when unforeseen accidents occur. 

What Does Workers Compensation Insurance Cover?

Employers are required to pay for their employees’ medical care when it is needed to treat workplace injuries. For many staffers, it will also be necessary for them to receive monetary compensation while they are recuperating and are unable to work. This can no doubt prove to be expensive, and workers compensation insurance can help pay for these bills. 

Although employers do their best to ensure that no one is hurt at their place of business, falls and other mishaps can still happen. When this is the case, both parties will often find themselves appearing in a court of law to settle financial disputes. Fortunately, this is another area where workers compensation insurance is beneficial, as it can provide indemnification against liability expenses related to legal issues. 

Workers compensation insurance also kicks in when a laborer dies through work-related activities, and this can help pay for funeral costs and payments that help support your employee’s beneficiaries. Workers compensation benefits may extend to people who perform services for you on a freelance basis, contractors, general employees, and even to yourself. Your agent can help answer questions regarding what is specifically covered, as it will vary, depending on the type of business that you are running. 

Contact Strack Insurance Services in Arlington, TX

At Strack insurance Services in Arlington, TX, we strive to always provide superior service to our clientele. We offer various insurance products, including homeowners, automobile, and commercial insurance, and we look forward to finding the appropriate insurance package that’s right for you. Reach out to us today for more information!