Category: Life Insurance

29 Nov 2018
3 Questions to Ask About Life Insurance Coverage

3 Questions to Ask About Life Insurance Coverage

What You Should Know About Life Insurance

You work tirelessly to provide for your family. From washing the dishes to providing family holidays to working towards life goals, you are there for it all. When you’re thinking about your family’s future, however, you should consider life insurance in Wellesley, MA. If you’re in the market for life insurance, here’s what you should know about life insurance.

How does it work?

Life insurance is designed to support your family and loved ones when you are no longer around to do so. It provides a payment in the event of your death that helps to protect your family’s finances and lifestyle. From everyday expenses such as a mortgage and car payments to long-term goals like funding your child’s college education and allowing your spouse to retire on time, life insurance can help support your family’s finances.

What types of life insurance coverage are available?

Typically, life insurance policies fall into two categories: term and permanent. Term life insurance is set for a specific period of time, such as 5, 10, 30 years. If you were to die within this term, the policy would pay out. If you survive the term, you would have to renew it for coverage. This is ideal for families that want to help with specific expenses, such as a 30-year mortgage. Permanent insurance, however, covers you for your entire life (as long as premiums are paid). Permanent coverage also includes an investment component, meaning you can borrow against your policy when finances are needed.

When should I get life insurance?

The right time to buy life insurance is the time at which it would benefit you! Most people take out life insurance when a major event happens, such as they get married, buy a home, have a baby, or take on a new job with a higher income. However, even if you have no dependents, you can still take out life insurance. Coverage can help to pay for remaining debt and funeral costs when you die, meaning that you don’t leave loved ones in the lurch. Talk to your insurer to determine if a life insurance could help your future finances and family.

Not sure how to get started? Talk to the Massachusetts life insurance experts at CAV Insurance Agency are well-versed in suiting the right policies to each individual. Give us a call today on 781-237-4107 to learn how life insurance can help you.

18 May 2017
Get Wet, Not Killed: Boating Safety Tips

Boating Safety Tips

Boating is supposed to be an incredibly fun and memorable experience, but it can only be so when you keep safety in mind.

Even if you are as experienced a captain as Captain Nemo, it is always a good idea to review boating safety rules before you hit the water. The best way to remain calm and remember the safety tips is to go over them as much as possible. If you want to protect yourself and those aboard your vessel, it is important that you consider the following safety tips.

  1. Be Aware of the Weather
    You absolutely must be aware of the weather before you go out on the water. You can check your phone, online, and your TV to get a good forecast of your local weather. If you get to your boat and you see dark clouds, feel sudden drops in temperature, and notice changing winds, play it safe and get off the water.
  2. Develop a Float Plan
    Always make sure to let someone know you are going boating before you head out to sea. You need to develop a Float Plan. A good plan includes the following information:
    • Boat type and registration information
    • Name, address, and phone number of the boat owner
    • Trip itinerary
    • Name and phone number of all passengers
    • Alternative forms of communication like Emergency Position Indicating Radio Beacon (EPIRB) or Personal Locator Beacon
  3. Always Wear Lifejackets
    Most drowning victims are the result of them not wearing their life jacket. Make sure that your family and friends don’t become another statistic by giving each member onboard a lifejacket that properly fits them. Make it a rule that they wear it all times when aboard the sea vessel.

Boat insurance can protect you from such dangers in terms of property and liability, but it’s best to do what you can to avoid any issues. For all of your insurance questions and needs, contact CAV Insurance today.

11 May 2017
How to Pick the Right Life Insurance Policy

How to Pick the Right Life Insurance Policy

When it comes to something as important as your loved ones’ financial security if you die, make sure that you take these tips into consideration to ensure you pick the right life insurance policy. 

Life insurance is a policy that provides your loved ones with a lump sum of money called a death benefit in the event of your death. But for many people, choosing a life insurance policy can be quite the hectic adventure. There is a lot that rides on your decision, and if you choose incorrectly, it will be your loved ones that face the consequences. Make sure that you choose the right life insurance policy with these tips.

  1. Know the Two Types of Life Insurance
    ∆ Term Life Insurance – Term life insurance, as the name suggests, only lasts for a limited term. The terms usually go from 5-30 years and this policy is typically the least expensive life insurance option. Term life, however, does not hold any value outside of the death benefit.
    ∆ Whole Life Insurance – Again, much can be learned from the name of the policy. Whole life insurance will cover you for your entire life, as long as you pay all your premiums on time. While a bit pricier than term life, whole life accrues cash value that can be used, should you reach retirement and decide that paying the premiums is not something you want to continue doing.
  2. Know How Much Life Insurance You Need
    In order for your family to be fully financially protected, you have to consider your monetary value to them at the moment. You have to consider the mortgage, car payments, credit card debt, student loans, future children tuition, and other child-related costs and things for which you pay.

Life insurance is an incredibly important policy; a policy that requires much thought and consideration in order to protect your loved ones. For all of your insurance questions and needs, contact CAV Insurance today.