RateGenius Insurance

9300 United Drive, Suite 180
Austin, TX 78758

Can You Benefit from Life Insurance While You’re Alive?

Many people focus strictly on the death benefits of a life insurance policy. However, life insurance policies also come with living benefits as well. A life insurance policy from Genius Insurance can benefit you in numerous ways while you’re still alive. Here is a look at just some of the living benefits that can come with an Austin, TX life insurance policy.

Leverage the Cash Value of Your Policy

You can do many things strictly with the cash value of your life insurance policy. Typically, this applies to permanent life insurance. Your policy can accumulate cash value, which you can then use for various purposes.

  • Take out a loan – You can often take a loan out against the cash value of your policy for any reason.
  • Take money out – You can sometimes make withdrawals from the cash value of your policy.
  • Cancel the policy – Although not recommended, it’s sometimes possible to cancel or surrender policy to release the cash value to yourself.
  • Settle the policy – In some cases, it’s possible to sell your policy for cash.

Other possibilities for using the policy’s cash value also exist. When you leverage the cash value of your policy, you effectively turn it from a death benefit vehicle into an investment possibility and financial asset.

Use Your Living Benefits

The term “living benefits” often means what you can do with your life insurance policy while alive. However, the term is also a specifically named category of benefits you can add to a life insurance policy. Living benefits can come as standard with certain types of policies, or you can apply for them individually. Typically, these benefits consist of payouts for long-term care and chronic illness.

Life insurance in Austin, TX offers many other benefits you can use while you’re still alive, including retirement benefits and tax benefits. The benefits available to you will depend on your policy and options. To learn more about what you can do with your life insurance while still alive, contact Rate Genius Insurance today.

Does Commercial Insurance Cover Hail Damage?

If you own a business, it is up to you to purchase commercial insurance that will protect your company from future potential losses. A loss can happen for a variety of reasons. One of the most common is an act of nature such as storm damage in the form of hail. If you have commercial insurance, you may be wondering if your policy will protect your business in the event of damage from hail.

Hail Damage and Commercial Insurance

Fortunately, hail damage is covered by most commercial insurance policies. Before making a commercial insurance purchase, go over the terms and conditions carefully to help you understand how much coverage you are allowed and whether you need to purchase additional coverage to prevent financial impacts. A good insurance agent can work with you to discover gaps in coverage and solutions to cover any issues that can arise. 

Finding the Right Commercial Coverage

Commercial insurance is one of the best ways that you can protect your business from losses as a result of a covered event. Before selecting the type of insurance you need, consult with a knowledgeable insurance agent to discover your options and for advice on your personal needs. If you live in or near the Austin, TX area, Rate Genius Insurance can help you make that important decision and help prevent errors that can mean impacts on your business. 

Don’t guess when it comes to selecting commercial coverage. Know your needs and work with a skilled agent that is going to guide you in the right direction. Residents of Austin, TX can call or stop by Rate Genius Insurance and discuss their situation with a helpful agent. 

Three common misconceptions about life insurance

Life insurance is one of the most discussed covers in the market; nonetheless, with all its technicalities and regulations, the concept of life insurance can be tricky to figure out. Consequently, this opens up the door for a variety of misconceptions, we at Austin, TX, Rate Genius Insurance have dealt with a variety of misconceptions which this article sorts to clear. 

  • With money in savings, you don’t need life Insurance

It is commonly thought that savings can always take care of an individual’s loved ones after death, this is under the premise that the next of kin will be allowed to in a way to inherit the resources left behind by the diseased. Well, this is not the case because even with much savings, your family may be left with half of your savings after estate-tax payment, which can go as high as 45%. Our experts at Austin, TX, Rate Genius Insurance always advise our clients to take up Life insurance covers as, unlike savings, there is no complication in taxations and aids to guard your family against undesirable financial difficulty and stress.

  • I’m Single I don’t need coverage 

Most single individuals feel that they don’t need life insurance based on the notion that they have no dependents. Nonetheless, single people are recommended to have a life insurance as it aids in covering liabilities from personal debt in addition to funeral and hospital bills. When single individuals are uninsured, they stand a high risk of leaving behind a legacy of unpaid expenses that can be forced upon the next of kin; consequently, this causes extra burden in times of grief. A life insurance cover for a single person can be a good opportunity for an individual earning a low-income single to contribute to a favorite charity as well as other cause.

  • Stay-at-Home Parent Don’t Need Life Insurance

The services and value of a homemaker are significantly high; subsequently, a life insurance cover for a stay home parent is a necessity. While homemakers may not bring in a paycheck, the services done are priceless and can cost thousands of dollars to replace particularly when it comes to childcare.   

 

Commercial Insurance Coverage Options

Regardless of how keen you are when running your business, things can happen. Someone can slip and fall while on your premises, and you would be forced to pay the medical bills among other expenses out of pocket. Your company can also be sued for negligence and your business premises can face negative publicity.

Fortunately, commercial insurance can offer the protection you need as long as you get the right coverage. Such a coverage protects you from burdening lawsuits and accidents that may place your business operations in jeopardy. It helps protect both your financial and physical assets. At Rate Genius Insurance, we offer different commercial coverage options to Austin, TX businesses, and we can do this for your business too.

Types of commercial insurance coverages

  • Property insurance –this policy covers your company’s building and its contents. It pays for damages and losses that may occur due to risks like fire and theft.
  • Liability insurance –this insurance plan will offer protection against injuries you may cause to third parties. For instance, if a person sues you for property damage or personal injuries, the expenses for resolving the suit will be covered by this policy.
  • Malpractice insurance –also known as professional liability insurance, this plan will pay for losses that result from injuries to third parties when the professional services you offer fall below the set safety standards of your profession.
  • Automobile insurance –a commercial automobile policy is designed to cover the truck, cars, vans, and trailers you use in the business. This coverage will provide reimbursement when your vehicles are stolen or damaged, or if your driver damages property or injures a person.
  • Workers’ compensation insurance –This insurance plan offers protection for your workers while on the job. Each company is required by law to have this policy. 

Now that you know about the various types of commercial insurance, you need to pick a reliable insurer to protect your business. Rate Genius Insurance has been serving Austin, TX residents for several years, and we can offer the protection your company needs.

How Much Life Insurance Is Enough For The Average Family?

When it comes to protecting your family, one of the most important purchases you can make to safeguard their future is life insurance. Adequate life insurance will allow them to live comfortably for years without the burden of the loss of income. Loss of income without the protection offered by life insurance can mean serious problems for families.

Protecting Your Loved Ones

Life insurance is designed to give people the protection they need to deal with a traumatic loss and prevent hardship. If you are shopping for life insurance, you may have many questions about how to choose the right amount. Not having enough coverage can put your family in a tight spot, and too much can be expensive over time. Getting the right amount of coverage is key in offering protection without overpaying.

Finding The Right Products

Generally, it is recommended that the insured person gather the total of household bills as well as projected bills to create a total that can sustain the family for ten years after the loss of life. Some of the factors that go into gathering information and getting a satisfactory amount include utilities, mortgage, insurance, car payments, and even tuition. Ask your life insurance agent to help guide you through the process. Residents in and around the Austin, TX area know they can rely on Rate Genius Insurance.

If you are considering making a life insurance purchase, and live in or around the Austin, TX area, you should call or stop by Rate Genius Insurance and get more information about our excellent life insurance products.

 

Can You Add Commercial Insurance to Existing Policies?

Commercial insurance is something that all business owners can benefit from, and with the right policy, you and your business can both be protected. Commercial policies do a great deal to help make sure that the business does not go under should something happen, and that the business owner does not foot the majority of the bill should they need to rebuild, pay employee medical bills, or replace merchandise. For those that live in the Austin, TX area, the agents with Rate Genius Insurance can help you to find the policy you need every time.

Commercial Insurance and Existing Policies

Odds are your insurance company offers commercial policies of some sort. This makes adding a commercial policy to your existing account or existing premiums easy. In many cases, all you have to do is take out an extra commercial policy with your current insurance company, and you can then pay all your premiums at once. This is going to allow you to make the most of your policies and is going to simplify paying for your insurance every month. Though you do have to have separate coverage for it to be considered a commercial policy, you do not necessarily have to have another insurance company to have a policy.

It is always best to check with your current insurance company to see if they offer a commercial policy before you seek out another company or agency to fulfill your needs. With the right commercial policy, your business can be protected from just about anything. For those in the Austin, TX, the agents of Rate Genius Insurance can help you find a policy to fit your lifestyle and needs. Contact our offices to get a quote and get started.

How Young Is Too Young for Life Insurance?

Austin, TX, is a fun town. It’s exciting, growing, and quickly becoming one of the cultural centers of America. While living in the area is full of pros, it isn’t quite magical enough for you to escape some of the mundanities of adult life. That includes contemplating insurance. Before you contact your rep at Rate Genius Insurance, you might be wondering if you really need life insurance. Let’s take a look at that question and help you build a better idea.

The Purpose

Understanding when to get life insurance begins with understanding why you should get it. It’s pretty basic. You want life insurance to offset the costs of death. It’s an unfortunate topic, but funeral costs and other issues can be expensive. Life insurance prevents that from being a burden on those you leave behind. The other primary reason to get life insurance is to provide financial assistance to anyone who depends on you. Most of the time this would be a spouse or children, but it can include a lot more. So, with those concepts in mind, let’s discuss when you should start.

Age

The general rule of thumb (and there are exceptions) is that life insurance is cheaper the younger you are when you initiate the policy. That said, young children don’t really need a policy. After all, who are they supporting financially? Besides that, we’re ok with being optimistic about their futures.

Thinking along those lines, you might consider waiting until you are married or have kids to get started, but for many people, this might not happen until your 30s or later. It turns out that there is a mathematical sweet spot. If you start in your 20s, even though you’ll pay for a longer time, you’ll ultimately save money on your policy. If you happen to have missed the golden opportunity, it’s not too late to still save. Every year past your 20s is likely to add a little more to the premiums, and the rate accelerates with age.

Let’s simplify. If you have a steady income, you should probably have a life insurance policy. If you want to review options and make sure your policy is matched to your goals, speak with your Rate Genius Insurance representative in Austin, TX.

Protect Your Business With A Commercial Insurance Policy

If you’ve been thinking of starting a small business, you’re going to spend a considerable sum of money upfront. An investment as essential and as money-demanding as starting a business does require a commercial insurance policy that’ll help you protect the value of your investment. Residents of Austin, TX can work with Rate Genius Insurance agents for all of their commercial insurance needs.

Commercial Insurance with No Worries

A lot of business owners can be myopic, choosing to focus on the short-term demands of the company and because of that end up ignoring the long-term issues. The only way to protect yourself and your employees from damages that can be potentially costly is to get insurance for your business. If you can locate a plan that covers all your needs, then you can focus on running the company without any additional worries.

Full Coverage

No two commercial insurance plans are the same. So, before you purchase any coverage, make sure you research all the available options to find the best fit for your business. It doesn’t matter if potential mishaps and accidents among your staff are your most significant worry, or if it is fire and storms, you can always find a commercial insurance plan that’ll account for all your fears. When you do find the right plan, the cost of it being on the high side may scare you a little, but when your company comes across a challenge, you’ll appreciate and be happy you invested.

Some commercial insurance companies only offer policies that cover specific industries. It is important to always look for insurance companies that cover your type of business. If you are a restaurant owner, for example, then you’ll want to purchase a plan from a company that works with restaurateurs.

Business owners should never underestimate the importance of commercial insurance policies. Failure to keep up with your insurance can be very costly in the long run.

Contact us

Rate Genius Insurance is available to discuss all your commercial insurance needs. For everyone who resides in Austin, TX and around the state, please reach out to our offices to learn more about how to get a quote and better protect your business.

 

Will my insurance prices go up if my health gets bad?

When you think about purchasing a life insurance policy from Rate Genius Insurance in Austin, TX, you want to make sure that you are getting the most protection and that you won’t have any unexpected expenses. Life insurance is a serious investment, and you need to be able to depend on it when the time comes.

When you sign up for life insurance, you have to answer a lot of questions. Many of them are about your lifestyle and your habits. For instance, you will have to tell whether you smoke or drink, and how much. Unless you signed up through an employer, you probably had to take a health exam. Then your rate will be determined by factors such as your age, weight, health, and lifestyle habits.

As long as you tell the truth during your initial application, those are the factors that will determine how your insurance cost is assessed. If you have a heart attack, stroke, or any other medical emergency, it will not count against you because you have already been approved based on your application. If you lie during your application, your insurance can refuse to pay out when you need it.

Because of this, it may be wise to purchase a comprehensive life insurance policy when you are younger. You may think that you can wait until you are older and have extra money, but if you do that you may face the risk of having developed health problems that make your life insurance more difficult to obtain.

You can compare different life policies at Rate Genius Insurance. We welcome new customers in Austin, TX and around the state. Reach out to our offices to have your questions answered and to learn more about the policies we offer.

Why should you insure your business?

You have invested money, effort, and time into your business, and to allow any risks to interfere with it would be tragic. So, you have to find the means in Austin, TX, to protect it against any unforeseen risks. Your business is a large investment that guarantees your livelihood and to ignore the opportunities to protect it is irresponsible.

A commercial insurance policy ensures that you are prepared even if a risk occurs. It assures that you don’t end up using your company profits or revenue to pay for expenses that could be avoided as long as it does not go beyond the policy limits. Are you still wondering why you should insure your business? Here are a few reasons why you should acquire a commercial insurance policy from Rate Genius Insurance in Austin, TX.

Peace of mind

When it comes to getting the best out of your business, passion, concentration, and peace of mind is needed. However, you cannot have any of that when wondering if your business is going to collapse tomorrow or if a disaster is going to strike which can damage your building. You need to focus on the day to day operations without fear. Having a commercial policy can help you relax with the proper coverage in place to cover financial strains that may arise with damages and injuries.

Taking care of employees

Your employees are the greatest assets. In the day to day duties, they may receive injuries which require medical attention. With a workmen’s policy, you get to pay their medical bills without using your revenues, and in return, they get to go back to work as soon as possible.

Protection against Liability claims

As long as you are interacting with people in your day to day activities, you should be prepared for any liability claims and lawsuits. You never know who you might injure either through advertisement or your products. You may wake up one day to find out that you are being sued for defamation and slander. If you don’t have a commercial policy, you may end up using your business revenue which can lead to bankruptcy.

In conclusion, if you decide to insure your business, Rate Genius Insurance is here to guide you. Feel free to contact us to learn more about commercial insurance.