Skip to content
Send us a Text Click to Call
Michael Taylor Agency

1313 Percival Rd.
Columbia, SC 29223

Get Directions

South Carolina Insurance Blog
Click to Schedule an Appointment

Get a Quote

Life Insurance for the New Year: Is Your Policy Keeping Up with You?

When you purchase life insurance in Columbia, SC, it might seem straightforward. However, as we enter the New Year, it’s an ideal time to review your policy. At Michael Taylor Agency, we can help determine if your current policy meets your needs.

Is Your Life Insurance Policy Sufficient?

Whether you bought life insurance last year or a decade ago, it’s worth reviewing. Does the policy provide enough coverage to cover financial obligations in the event of your or a loved one’s passing?

It’s possible to update your policy. Most people purchase a policy and then forget about it. Our goal is to ensure that doesn’t happen.

Questions to Consider

Here are a few questions to ask yourself about your existing life insurance policy:

  • Would the policy cover not only funeral expenses but other debt?
  • Does it have a cash value?
  • Is the term long enough to last your entire life?

There are other questions to consider, too. It all depends on the type of policy you have, your health status, and your personal finances. Working with an experienced life insurance agent allows you to examine your policy and make any necessary changes carefully. It could mean the difference between full financial protection or not.

Start Reviewing Your Policy Today

Don’t discover the hard way that your life insurance policy is insufficient. At Michael Taylor Agency, our agents can review your policy, learn more about you, and make recommendations. We can also provide new quotes to ensure you get the best deal. Contact us today!

Read More

The Benefits of Whole Life Insurance

Understanding the Benefits of Whole Life Insurance

Both term life and whole life insurance policies are available to a wide range of customers, and whole life is a highly popular type. Both types come with their own benefits, but many prefer the benefits they get from having a whole life policy. Several important benefits might make this type of policy right for you. Contact us at Michael Taylor Agency in Columbia, SC, if you need life insurance.

Lifetime Coverage

One of the most important benefits of a whole life policy is that it covers you for your whole life. You can keep it for the rest of your life no matter how old you get. The insurance company can’t cancel the policy as long as you want to keep it and keep paying the premiums. This is a significant benefit because there is no expiration date as there is with term life insurance policies. This is a significant advantage for those who don’t want to have a policy that expires, so they need to apply for another policy later.

Cash Value

A whole life policy also benefits from having a cash value. As the years pass, this is a small amount that grows bigger and bigger until it’s a substantial amount. This is a value that you can borrow against as the policyholder. Having this value available can bring peace of mind to people who want to know they’ll have access to funds if needed. It could come in handy if there were a financial emergency after a few years of getting the policy.

Get Whole Life Insurance in South Carolina

If you’re interested in this type of life insurance, we’re here to help. Call us at Michael Taylor Agency in Columbia, SC to get started with a policy.

Read More

Protect Your Retirement With the Right Insurance Coverage

If you’re preparing for retirement, you’re likely looking forward to the free time and activities you’ll get to enjoy. However, this might not be your reality if you don’t have the right insurance coverage. With retirement insurance, you can safeguard your future and enjoy your later years more fully without worrying about having what you need. If you’re in the Columbia, SC, area, the Michael Taylor Agency can help.

Protect Your Retirement

Even if you’ve meticulously planned for your golden years, you may not have everything you need in terms of protection. Changes to your health or living situation can affect what you have left for other things. But with the right insurance, you won’t face risks to your future even if your circumstances take an unexpected turn.

Increase Your Peace of Mind

Peace of mind is crucial as you age, and insurance is one of the best ways to enhance that peace for you and your loved ones. Working with an agent who can help protect your retirement will make you feel more comfortable and confident. This will enable you to do what you want and need to do as you age and can boost your retirement planning through more security and increased happiness.

Work With Trusted Professionals

Contact us today at Michael Taylor Agency if you’re in the Columbia, SC, area and looking for retirement insurance options. There are ways to protect your future and increase your security so you can have more fun as you age. Our agents are committed to helping you find the insurance and planning options that fit your lifestyle and goals so you can make your retirement years great.

Read More

Do you really need a million dollars of life insurance coverage?

If you are beginning or building your life insurance program and live in the Columbia, SC, area, the Michael Taylor Agency can help.

One of the first questions those in our community ask is, "How much life insurance do they need?" or “Do I need a million dollars in life insurance protection?"

The answer may lie in what you want your life insurance to do.

Cover final expense.

Yes, funeral expenses can be expensive, but it will not take a million dollars in protection to cover. If you are just interested in burial expenses, $15,000 may be sufficient.

Cover debts.

Many purchase life insurance to cover any debts they may be leaving behind. These often include credit cards, personal debts, and even medical expenses.

Mortgage coverage.

If you have a significant mortgage on your home, you may want to ensure your life insurance suffices to pay it off. This can also help a family maintain their lifestyle.

Living expenses.

When choosing how much life insurance you should need, you may want to consider enough to cover living expenses for an extended period. This can allow a family to transition after a death.

College and future expenses.

When you add in college and future expenses for bringing up a child, you can see how an insured could want a million dollars or more in protection.

Contact the Michael Taylor Agency for Help.

You may not need a million dollars worth of life insurance protection. Still, when you add up burial expenses, personal and medical debts, childcare, mortgages, and college, you can see where it would be beneficial. The point is that it may depend on you and your goals and budget. Reach out to us at Michael Taylor Agency in Columbia, SC.

We can discuss your options. Reach out to us for your free quote today.

Read More

Why Term Life Insurance Is So Popular

Many people need life insurance because they have loved ones dependent on them. It is crucial to secure this insurance so that those who rely on you will have financial security after you’re gone. Life insurance mainly comes in two forms – term life and whole life insurance. Whole life insurance is a policy that remains valid for the rest of the policyholder’s life. Term life operates differently. However, its popularity stems from its simplicity. To learn more about term life insurance, get in touch with us at Michael Taylor Agency in Columbia, SC.

The Benefits of Term Life Insurance

Term life insurance provides a significant advantage over whole life: it is considerably less expensive. This affordability has enabled many people who may not ordinarily afford it to take up life insurance. Given the high cost of living in today’s world, life insurance could seem like an unnecessary expense for those on a tight budget. However, with term life insurance, this isn’t usually the case.

Simple Policies

While the nuances of whole life insurance can be complex, term life insurance is straightforward. Unlike whole life policies, it does not accrue cash value over time, nor are there expensive premiums associated with whole life. The downside of term life insurance is that it expires after a certain period. However, many find the cost-saving benefits outweigh this shortcoming. And, in case your policy expires, you can always apply for a new one to take its place.

Get Term Life Insurance

If you’re interested in term life insurance, contact Michael Taylor Agency in Columbia, SC, to learn more.

Read More

Trouble Saving? Consider Permanent Life Insurance

Do you have life insurance? Experts state that more than half of us either don’t have any or don’t have a sufficient amount. Numerous excuses exist for this, including tight budgets. The Michael Taylor Agency can help individuals in the Columbia, SC, area.

If you are struggling to set aside money for future or unforeseen circumstances, permanent life insurance might be your best option.

Permanent insurance, also known as whole life insurance, offers coverage that lasts as long as the premium payments are kept up-to-date. This insurance establishes premiums at the time of the initial purchase. Despite the consistency in premiums and coverage, permanent insurance can accrue a cash value that increases over time.

What Sets Permanent Insurance Apart

Unlike term insurance, which provides protection for a specified period, permanent insurance is lifelong. Despite the higher costs per thousand bases of permanent life insurance, it includes a savings component, allowing for cash value accumulation. This cash value can increase over time, be accessed through a loan, or be cashed in later.

Although whole life insurance is more costly due to its permanency and cash value, it is a good option for individuals who find saving money challenging.

Not only does permanent insurance provide life insurance coverage, it also builds equity. And for some, this combination is highly appealing.

Learn More Today

If you are interested in learning more about permanent life insurance and how it compares to term life insurance, contact us at the Michael Taylor Agency in Columbia, SC. We can help you compare coverage, provide a quote, and even project your policy’s cash value in the years to come.

Get started today by contacting the Michael Taylor Agency.

Read More

Five Ways Life Insurance Helps You Celebrate Life

Life insurance isn’t about death; it’s about removing the worries from the living. It’s a way to celebrate life by ensuring your loved ones live how they’re accustomed to, and your legacy lives on. It’s about ensuring the lifestyle you’ve worked hard to build continues for the ones you care about. But those aren’t the only ways life insurance helps you celebrate life. Here are a few more reasons for you to ponder:

  • Peace of mind: Knowing your loved ones are financially secure when you die takes a lot of worry off your chest. This release helps you enjoy your life to the fullest without worrying about how much of a financial impact your death will have on your family.
  • Legacy: Life insurance provides a financial legacy for your loved ones or even a favorite charity. This ensures that your values and causes are supported even when you’re gone. 
  • Living benefits: Some policies offer benefits like critical illness coverage or cash value accumulation. You can use these benefits while you’re alive to cover unexpected expenses, celebrate milestones, or support a comfortable retirement.
  • Financial planning: Your life insurance policy is essential to your comprehensive financial plan. It helps you plan for future expenses, like your significant other’s retirement or your children’s education. This type of planning helps prepare for the future now so you can enjoy the rest of your life with your loved ones.
  • Celebrating essential life stages: Getting life insurance often happens when other major life events occur, like having a child, getting married, or buying a home. These are all occasions to celebrate life now and in the future.

Life insurance from the Michael Taylor Agency is more than you may think. It’s truly a reason to celebrate the life you share with your loved ones in Columbia, SC, from moment to moment. 

Read More

Insurance For Your High-Risk Years. Why Choose Term Life Insurance

Columbia, SC, is a flourishing city that is increasingly attracting younger people who are building their families and careers in this vibrant environment. Notably, many of these younger families are entering "high-risk" years. The Michael Taylor Agency offers a practical solution for safeguarding families during these precarious periods: Term Life Insurance.

The Basics of Term Life Insurance

Term life insurance provides coverage for a specific duration, often for 10 or 20 years, safeguarding the life of the insured individual.

Safeguarding the High-Risk Years

The "high-risk" years typically coincide with when young families are in their 20s to 40s. This period comes with financial challenges, such as high mortgages and impending college tuition, while incomes need to be protected. In the event of an unexpected loss of an income earner during these vital years, the family could face devastating consequences.

How Can Term Insurance Help?

Term insurance is an affordable variant of life insurance that can usually be purchased in large amounts at comparatively low rates. This allowance enables families to cover final expenses, mortgage payments, credit card debts, and even college education costs.

Take a Step Toward Enhanced Financial Security Today

Initiating your term life insurance policy is as simple as contacting us at the Michael Taylor Agency of Columbia, SC. Answer a few questions, and you can start your journey toward greater financial assurance. Young, healthy applicants usually do not need a physical examination.

Make the Smart Choice with Michael Taylor Agency

Achieving the life insurance coverage you and your family deserve has never been easier with the assistance of the Michael Taylor Agency. Reach out to us today and begin your protection journey.

Read More

Five Expenses Life Insurance Could Help Cover

Life insurance is a safety net, providing financial support in challenging times when a policyholder passes away. It could help cover several different major costs if you’re no longer around.

Paying for Daily Living Expenses

Life insurance can play a crucial role in helping beneficiaries manage daily living expenses without the policyholder. This is especially important in Columbia, SC, where the cost of living has risen recently. The payout from a life insurance policy could help pay necessities like food, utilities, and rent or mortgage payments.

Funding Your Children’s Education

A life insurance policy can also be instrumental in ensuring that a policyholder’s children can afford higher education. With college tuition continually rising, life insurance proceeds can pay for tuition, books, and room and board.

Facilitating Retirement Savings

For surviving spouses, life insurance may supplement their retirement savings. This is one of the main reasons to get a life insurance policy for a large amount.

Paying Off Debts and Mortgages

Life insurance can provide beneficiaries with the means to pay off outstanding debts, including mortgages, credit cards, and loans. If you pass away, this might be the only way your spouse could keep the house.

Covering Funeral and Final Expenses

Finally, life insurance can cover funeral and final expenses, which are sometimes substantial. We at Michael Taylor Agency have seen some parents get a small life insurance policy for their children so they wouldn’t need to worry about funeral costs during a very trying time.

Get Life Insurance

Life insurance may provide financial assistance for your loved ones in many ways. If you need help finding life insurance and are in Columbia, SC, contact us at Michael Taylor Agency.

Read More

What Is Retirement Insurance? Your Questions Answered

When you plan for retirement, there are many things to consider – including insurance. At Michael Taylor Agency, serving Columbia, SC, we’re happy to help you decide which types of insurance are most important to help you during retirement. Medical costs in retirement can be expensive, but having the right coverage can help you save hundreds or even thousands of dollars. 

What Kind of Insurance Do Retirees Need?

Many people who retire believe they will rely solely upon their Medicare coverage to help with their medical expenses. However, upon doing research, a significant portion of these people realize that they will also need a Medigap plan to help cover the significant costs that Medicare does not cover. 

What Is Medigap Insurance?

Medigap insurance is a policy you can purchase to help share the out-of-pocket costs associated with Medicare coverage. Finding the right Medigap policy for your needs can help you protect your retirement savings. 

How Can You Find the Right Medigap Policy?

Finding the right Medigap policy is important. You’ll want to find a policy that you find affordable but which will also benefit you to the greatest extent possible. Medigap policies can be complicated, just as Medicare itself is complicated. Finding an insurance agent to help you walk through the options and make the most informed decision possible is important. 

This is why many customers come to Michael Taylor Agency serving Columbia, SC. Our informed and helpful insurance agents are dedicated to helping you find the right coverage for your needs. Enjoy your retirement with the right policy for you.

Read More

Partner Carriers

  • Assurance America
  • Foremost
  • Geico
  • Heritage
  • National General
  • Nationwide
  • Progressive
  • Safeco
  • State Auto
  • Stillwater
  • Trexis