Those that live near Columbia, SC are going to have a variety of important insurance needs. One type of coverage that many people should consider is life insurance, as it can offer valuable protection to those that you care about. If you do want to get life insurance here, choosing the right plan is important. The two most common options are term and whole life. You should consider the features of both when deciding which is right for you. 

Term Life Coverage

A term life insurance plan is a very popular form of coverage. This type of plan will give you coverage for a defined term, which often is between 20 and 30 years in length. This will provide life insurance coverage up to your policy amount. Term life is often a popular option as the premiums are often lower than other forms of protection. 

Whole Life Coverage

You can also consider a whole life insurance plan, which can offer coverage for the rest of your life if you continue to make payments. When you have a whole life plan, a portion of your payment each month will deposit into an account that builds with interest. In the future, this account can be accessed to convert it into cash or post it as collateral. This can make it a good addition to your investment portfolio as well. 

Picking the right life insurance plan is always going to be an important decision. As you are looking for a new plan near Columbia, SC, it can be helpful to call the Michael Taylor Agency. The team with the Michael Taylor Agency can help you assess your different life insurance options and give the guidance needed to choose a plan that will offer you the right protection for your situation. 

It is never too early to start thinking about retirement insurance in South Carolina. One of the most common types of insurance to purchase ahead of your retirement is long term care insurance, also known as LCTI. This insurance will help to cover the costs of care during your retirement or provide benefits as a form of income.

At the Michael Taylor Agency serving Columbia, SC, we want you and your family to be covered during your retirement. 

Types of Long Term Care Insurance

The cost of long-term care after an accident or during old age is significant. This is what long-term care insurance is meant to cover.

There are a number of different ways to get long-term care insurance. The way to determine the kind that you need will depend on your life situation today.

You can get coverage to pay for expenses for nursing home care, residential care, or at-home services. 

As with any insurance, there will be some exclusions depending on your insurance company.

Facilities for Long-Term Care

Even if you are choosing long-term care insurance for residential coverage, you have to be careful about learning what your policy covers. It may not be a blanket check for whatever you wish.

When you are choosing long-term care insurance, be sure that you know what types of facilities your policy will cover. Some insurance companies will only pay for a state-licensed facility or care that is specified as nursing home care.

Others will cover assisted living, and many cover in-home care and equipment. You may even be covered for some modifications at home, such as a wheelchair ramp or bathroom safety bars.

Get a Quote

When you are looking for long-term care insurance, know what you need and what to expect when it’s time to make a claim. Contact the Michael Taylor Agency serving Columbia, SC for more information on how to purchase long-term care insurance, and to get a quote.

As a first-time life insurance buyer in Columbia, SC, getting a life policy can seem like an endless process of estimations and calculations. While it often tends to get detailed, settling into the proper life insurance is all about understanding your short-term and long-term needs. Michael Taylor Agency explains three crucial things to consider when getting a life policy.

How Long Do You Need Coverage?

Life insurance comprises two main coverage options, both of which consist of different maturity periods. Whole life coverage is the first option that exists for as long as you live and often comes in handy in providing your spouse with income replacement upon your demise. On the other hand, term life coverage exists for a specific period, such as the duration of your mortgage, after which you can get the benefits of your insurance. Based on these differences, consider where your needs lie and your insurance’s duration before getting your coverage.

Think About the Various Uses of Life Insurance

Life insurance essentially protects your loved ones when you leave them behind, but that is not its only purpose. Some life policies can be used as savings plans, most notably when their value increases over time. Such a plan works in a similar capacity to a retirement policy, helping you get financial stability in your future. Make it a point to ask your insurance agent about your coverage options’ various uses to allow you to get the best out of each. 

Evaluate Exclusions in Your Policy

Life insurance often involves exclusions, aspects that can cause hindrances in payouts in the future when not adhered to. Assess your policy’s finer details before making it official and ask questions to ensure you comprehend all clauses. Consider getting your insurance agent’s help to break down any jargon, as it will go a long way in ensuring your dependants have peace of mind during settlement procedures.

We understand that life insurance can often get overwhelming; that is why our Columbia, SC agents are ready to take you through this crucial part of your journey. Call Michael Taylor Agency today to discuss your life insurance needs.

 Having a family comprising a spouse, children, or other beneficiaries who depend on you for their upkeep, you may wonder how your family would cope financially if you could not provide for them. As a Columbia SC resident, you can make sure that your family and loved ones do not suffer financial challenges from a personal tragedy by procuring outstanding life insurance at Michael Taylor Agency. If you are a young person and in excellent health, it’s time to consider how your loved ones will cope financially and emotionally upon your untimely demise.

Buying the right life insurance policy from a dignified insurance company in Columbia, SC may save your loved ones from financial ruin in the event of an unexpected tragedy. Regrettably, many Columbia SC residents wait to buy coverage until an illness or accident strikes making it a daunting task to land a reliable policy. Visit our offices today at Michael Taylor Agency offices. Our professional agents are available to conduct life insurance needs analysis to ensure that you get the coverage you need and the ultimate protection your loved ones require.

Types of life insurance coverage.

Term life insurance: This form of policy is designed to last for a given duration,probably10,20 or 30 years.When the specified term lapses, the coverage becomes null and void. A term life policy is the least expensive coverage option.

Whole life insurance: This form of policy does not get expired. Your policy will remain effective as long as you proceed to submit your premiums promptly. Your payments are converted into investments and culminate into equity that you can cash out when unexpected eventuality strikes.

Universal life insurance: It’s a flexible coverage that combines terms and real-life insurance benefits. A policyholder can utilize your accumulated earnings to settle your premium costs when necessary. It accrues cash value over time, and you can take loans against your equity.

Variable universal life insurance: It’s similar to universal life insurance in the sense that it’s flexible when it comes to settlement of premiums, and its cost of insurance increases over a while. This form of policy possesses a cash value account that does not pay a fixed rate of return.

Contact us or visit our Michael Taylor Agency offices in Columbia, SC for more information about obtaining a spectacular life insurance policy.

Anyone that lives in the Columbia, SC area will have a lot of personal insurance needs. One important form of protection that people here need to get is life insurance. With this type of coverage, you can obtain financial protection for those that depend on you. There are a few reasons why people in this area of South Carolina will need to get a life insurance plan. 

You Want to Protect Dependents

A common reason that people in South Carolina will need to get a life insurance plan is that it provides valuable protection for their dependents. When you choose to purchase a life insurance plan it will offer an insurance benefit to the beneficiaries if you were to pass away. Insured people are able to build a policy that suits their coverage needs. A plan can be flexible based on the amount of time you need coverage for and the coverage level that you want. 

You Want to Cover End of Life Expenses

Another reason that you should consider getting life insurance is so you can cover the end of life expenses. Even if you do not have dependents, having coverage can be helpful to those that you care about as your policy can cover your end of life expenses. These expenses can include covering hospital bills and funeral expenses. 

When you are looking for a life insurance plan when you are in the Columbia, SC area, it would be a good idea for you to call the Michael Taylor Agency. The team with the Michael Taylor Agency understands the value that comes with this insurance coverage. When you do call this company you are going to receive the personalized guidance that is needed to fully determine your needs and understand your options when picking a policy. 

When searching online for retirement insurance policies, you’re probably bombarded with search results chock-full of information relating to health insurance as a retiree. What you’re probably searching for, though, is a type of insurance that supplements you financially during retirement. And while health insurance for retirees is part of the insurance that you can benefit from, there are actually several types that you should consider. Here at the Michael Taylor Agency serving the Columbia, SC area, we’ve put together a quick guide on retirement insurance and the types you may need. 

Health Insurance

No matter your age, you need health insurance. Once you retire, if you can no longer purchase insurance through your employer, you can always turn to the healthcare marketplace to find a policy. A seasoned insurance agent from our agency can help you customize a health insurance policy to meet your exact needs. 

Long-Term Care Insurance

This type of insurance is needed during retirement because there will likely come a point when you may need long-term care of some sort, which can be extremely expensive. Long-term care insurance is great for providing assistance with in-home care as well as nursing home services.

Early Retirement Medical Insurance and Supplemental Medicare Insurance

An early retirement medical insurance policy is ideal for those who intend to retire early and need help paying for the costs of health insurance until they qualify for Medicare at the age of 65. Not everyone benefits from this type of policy, so it’s important to discuss its pros and cons before investing in one. 

If you would like to learn more about retirement insurance and the various types that you may need, please contact Michael Taylor Agency serving the Columbia, SC area. 

Anyone that lives in the Columbia, SC area needs to spend some time assessing their insurance needs. Life insurance is a type of coverage that all people need to think about. There are a number of reasons why you may need this protection. 

Providing Financial Protection

The main reason that you need to get life insurance is that it can provide financial protection for those that rely on you and your income. If you have dependents, it is important that they are cared for financially if you were to pass away. When you build a life insurance policy, you can create one that includes all future costs that they could incur including costs of living, higher education, or anything else that you want to take care of. 

Prepare for Future

Even if you do not have dependents today, there is a chance you will in the future. All people should consider getting life insurance today as it could be more affordable than if you were to wait until you need coverage. Further, even if you do not have dependents, the life insurance proceeds could help cover the end of life expenses so your loved ones do not have a financial burden if you were to pass away. 

There are many reasons that someone should get life insurance in the Columbia, SC area. When you are looking for your next policy here, you should speak with a professional that understands all of your different options. One great resource for information when it comes to life insurance is the Michael Taylor Agency. If you do call the Michael Taylor Agency, you will get the guidance needed to choose a great policy. The team here will help you understand your needs and options, which will give you the support needed to choose the right policy. 

In the Columbia, SC area, it is very important to spend time carefully assessing your insurance needs. One form of insurance that all people could benefit from is life insurance. When you get a life insurance policy, you will be able to provide financial protection to those that you care about. There are several reasons why you need to have this type of insurance. 

Provide Financial Protection

The main reason that people need to get life insurance is that it can provide valuable financial protection to those that you care about. If there are people in your life that depend on your income, you should make sure that they are properly covered financially. When you get a life insurance policy, you can build it based on the future financial needs that your dependents may have. This could help to cover the costs of housing, higher education, or even retirement.

Investment Option

Another reason that you should get a life insurance policy is that it can provide you with a valuable investment option. When you get a whole life insurance policy, some of your monthly premiums will build up in an account that you could eventually liquidate. These accounts and plans will give you life insurance protection and also a conservative investment option that could increase dramatically in the future.

As you are looking for life insurance in the Columbia, SC area, you should reach out to the team at the Michael Taylor Agency. If you speak with the team at the Michael Taylor Agency, you can learn a lot more about how this insurance can protect you. They can then help you to build a policy that will offer you and your dependants with the right level of insurance coverage to meet any future needs. 

Maybe you’re in your 20’s or 30’s and don’t believe you’re quite old enough to get life insurance. While there is no set age for acquiring good life insurance coverage, the life insurance needs of a 20-year-old will probably be different than that of a 60-year-old. Learn about what kind of coverage would be best for you with the Michael Taylor Agency in Columbia, SC. 

What Does Life Insurance Cover?

Life insurance covers your family in the case that you die and are no longer able to provide for your family. Usually, this doesn’t concern people in their 20’s or 30’s as they may not have families quite yet. While it is legally required in most states to have the minimum amount of life insurance coverage when you reach 25, most people don’t consider getting more coverage until much later. 

However, it could be beneficial to have life insurance coverage in your 20’s and 30’s beyond the required minimum amount. You can get good coverage when you’re young for lower monthly payments than someone who is older. This is because you are less likely to need coverage when you are younger. 

Why Get Life Insurance?

It’s easy to overlook getting life insurance when you’re young because you still have a long life ahead of you. However, life is unpredictable and anything can happen, so you should have the coverage in case something happens. Even if you don’t have a family of your own, you should think about your parents, siblings, and other relatives in the event of your possible death. Things like funeral costs and other expenses can add up, so having the extra coverage can go a long way. 

Get Covered with the Michael Taylor Agency

To ensure that your family is covered, visit the Michael Taylor Agency. Our office is located in Columbia, SC, and you can schedule an appointment with us or get a consultation over the phone.  

Purchasing life insurance is one of the most important things you can do to protect your family, but it can be difficult to understand which policy is best for you. At Michael Taylor Agency in Columbia, SC, we work hard to match our clients with the best policy for their needs. 

Term Life

Term life provides life insurance coverage for a specified term, which is generally 10-30 years. When the term is over, you may have the option to renew the policy. However, your premium may change if you choose to renew the policy. 

Term life insurance can be the best option if you plan on being financially secure enough to not require life insurance after the term is, or if you are at an age where you don’t expect to outlive the policy. Term life premiums are generally less expensive than whole life premiums, but the only value term life offers is the death benefit. If you outlive the policy, you and your family don’t receive any money.

Whole Life

Whole life policies are more complex than term policies. Your policy will cover you until your death. It also builds cash value. Many policies allow you to borrow against the cash value or cash out the funds. However, this may be removed from your death benefit if it isn’t replaced. Whole life policies earn a modest interest rate. Premiums are higher for a whole life. One reason for this is that the company will have to pay the benefit upon your passing, unlike term life where you may outlive the policy. The other reason is the cash value the policy builds.

Whole life insurance can be the best option if you want a policy that will remain with you until your death and if you are looking for an easy way to invest. 

No one wants to think about life insurance, but the right policy will keep your family financially stable. To learn more about which life insurance policy is best for you in Columbia SC, contact us at Michael Taylor Agency.