Life Insurance: 3 Tips for First-Time Buyers

Purchasing life insurance for the first time can be overwhelming. How do you know how much coverage you need? Should you choose a term plan or a whole one? Today's blog from your Lake of the Ozarks insurance agent offers a few tips for those purchasing a life insurance plan for the first time.

1. Understand the Importance of Life Insurance.

Why does someone need life insurance? Understanding the importance of life insurance is the first step in purchasing a policy. Life insurance is designed to provide financial support to your family in the event of your death. The benefits can help pay for mortgages, a college education, estate planning and more. If someone else depends on your income, you should strongly consider purchasing a life insurance policy. However, even if these risks don't seem to apply to you now, you might still consider a life insurance policy, as the younger you are the less expensive a life insurance policy is.

2. Research the Types of Life Insurance.

There are two basic types of life insurance: term life and whole life. Term life insurance policies provide a more affordable option with an expiration date. For example, you could purchase a term life insurance policy that lasts until your children have graduated high school and are making a living of their own. When they are no longer dependent on your income, the need for a life insurance policy decreases. A whole life insurance policy on the other hand lasts from the time you purchase the policy until your death. Talk to your independent insurance agent at the Lake of the Ozarks to discuss your specific needs and determine which policy is best for you.

3. Determine How Much Life Insurance You Need.

The amount of life insurance needed is dependent upon you, your family situation and your financial situation. There are a variety of online calculators that can be used to help determine a value for your life insurance coverage. For a rough estimate, you can simply take your annual income and multiply it by 8. However, a more detailed estimate would need to be calculated with the monthly expenses your family would incur after your death. Your insurance agent can also help you with this step. While calculators are great for coming up with an estimation, there are other things to consider that those calculated numbers don't include.

If you're thinking about purchasing a life insurance policy, give Insure the Lake a call at 573-348-2794. As your local Osage Beach insurance agent, I'll be able to provide you personal and professional service. We're here for all your insurance needs, from life and health to auto and home.

Request a Free Quote Online! Contact Insure the Lake today for all your Lake of the Ozarks insurance needs! 

About the Author: Steve is a double back-flip insurance ninja. He was named Young Insurance Agent of the Year by the Missouri Association of Insurance Agents in 2010 and is a Certified Insurance Counselor. When he is not helping customers, he enjoys community service, Latin dancing with his beautiful wife and going on adventures with his two awesome sons.

Steve Naught, CIC

NAUGHT-NAUGHT AGENCY

3736 Osage Beach Parkway

Osage Beach, MO 65065

Next to Golden Coral

T: 573-348-2794

F: 573-348-0191

stnaught@naught-naught.com


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A Guide to Purchasing Insurance for Millennials

As a millennials, you're now at the point in your life where you have to figure out insurance coverage on your own. You're being removed from your parents' policies and discovering how to purchase your own individual policies. All of this can quickly become overwhelming and Insure the Lake is here to help. Keep reading for a few insurance tips for millennial from your Osage Beach insurance agent:

1. Find an Independent Insurance Agent.

As this may be your first time purchasing an insurance policy of your own, it's important to have someone you can trust to answer all your questions. Finding an independent insurance agent at the Lake of the Ozarks is an important first step in getting proper insurance coverage. You don't want to end up with insurance through an online company that makes you wait on hold to talk with anyone. Get the personal service you need by choosing a local, independent agent. With an independent agent, not only do you get great service, but you also have access to a variety of different policies. For example, Insure the Lake has direct contracts with over 50 insurance companies and access to hundreds more through brokerage services. This allows us to get you the most comprehensive coverage at a competitive price. You'll have just one person that you deal with in regards to all your insurance needs, from auto policies and renter's insurance to health and life insurance.

2. Make Sure You're Completely Covered. 

As a young adult, the cost of insurance may seem like the most important aspect. However, you don't want to find yourself in a situation where you're not adequately covered. Those situations could end up costing you a lot more in the long run. You may be tempted to choose the policy with the lowest price, but it's important that you understand what the policy covers and what it doesn't. In many cases, just a few dollars more a month can ensure you're fully covered for a variety of different situations. This is where your agent comes in handy, because they can clarify anything that may be confusing to you with your policy. In addition, they can shop around for the best coverage to fit your individual needs. Ask as many questions as you need to make sure you have adequate coverage.

3. Ask About Discounts. 

When it comes to insurance coverage, there are a variety of different discounts available. Are you a college student? You might qualify for a good student discount. Are you a good driver? With no traffic violations, etc. on your record, you could qualify for a good driver discount. In addition, sometimes there are discounts available for bundling your policies and purchasing them all with the same insurance carrier. Talk to your local insurance agent to see what discounts you may be eligible for.

4. Fill In the Gaps. 

While each state requires a minimum auto coverage and some landlord's will require renter's insurance, you have a lot of options when it comes to insurance coverage. It's important that you understand what is and what isn't covered by your insurance policies. While a typical auto insurance policy and renter's or homeowners policy will cover the basics, you need to consider your unique needs. Do you own some valuable jewelry passed down in your family? Do you own a lot of expensive electronic equipment? You may need to purchase additional coverage for items like these that may exceed the limits of your basic policy. Talk to your agent about possible gaps and how you can ensure coverage for all your personal risks.

If you've recently moved out on your own or are planning to do so in the next few months, contact your local Lake of the Ozarks insurance agent at 573-348-2794. At Insure the Lake, we're here to offer you the personal and professional service that you deserve. We understand that the world of insurance can be confusing and we're here to help by answering all your questions.

Request a Free Quote Online! Contact Insure the Lake today for all your Lake of the Ozarks insurance needs! 

About the Author: Steve is a double back-flip insurance ninja. He was named Young Insurance Agent of the Year by the Missouri Association of Insurance Agents in 2010 and is a Certified Insurance Counselor. When he is not helping customers, he enjoys community service, Latin dancing with his beautiful wife and going on adventures with his two awesome sons.

Steve Naught, CIC

NAUGHT-NAUGHT AGENCY

3736 Osage Beach Parkway

Osage Beach, MO 65065

Next to Golden Coral

T: 573-348-2794

F: 573-348-0191

stnaught@naught-naught.com


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Safety Tips for Burn Awareness Week

The first full week of February each year is dedicated to burn awareness. Being unsafe in the kitchen can not only lead to severe burns and scalds, but could also cause a kitchen fire. According to the American Burn Association, approximately 4,000 deaths occur from fire and burn injuries and about 600,000 burn injuries are treated in hospital emergency departments. In today's blog, your local independent insurance agent at the Lake of the Ozarks offers a few safety tips for burn and fire prevention.

Scald, Burn & Fire Prevention Tips

While we traditionally associated burns with fires, scald burns caused by hot liquids should also be of high concern, especially with young children. Keep these safety tips in mind when cooking and when dealing with hot liquids or open flames.

1. If possible, use the back burners when cooking on the stove top.

2. Be sure to turn pot handles away from the stove's edge when cooking.

3. Never leave food cooking on a stove-top unattended.

4. Use a timer when baking food and check it regularly to make sure it's not spilling over, which could lead to a fire.

5. When cooking with oil, be sure to heat the oil slowly to the temperature that you need. Then add food gently so the hot oil does not splatter.

6. Always cook with a lid beside your pan. If you have a fire, slide the lid over the pan and turn off the burner.

7. Keep all small kitchen appliance cords coiled and away from counter edges.

8. Use oven mitts or potholders when removing hot food from the oven or microwave. Never use wet oven mitts or potholders, as they can cause scald burns.

9. Replace old or worn out oven mitts.

10. Keep oven mitts and potholders away from the stove top, as these items can easily catch fire.

11. Open hot food containers slowly, away from the face to avoid steam burns.

12. Keep hot foods and liquids away from table and counter edges.

13. Use non-slip place settings when you have young children. 

14. If you have young children, avoid using tablecloths that the children can pull on. They could easily pull a hot dish or beverage over onto themselves.

15. Never carry a hot beverage or dish while also carrying a child. One wrong step and you can easily spill hot liquid onto the child or the child can easily stick their hand in the hot dish.

16. Keep children out of the kitchen and away from BBQ grills when you're cooking.

17. Always turn on the cold water faucet first and then turn on the hot water.

18. Set the temperature on your water heater to 125°F or less.

19. Keep children away from fireplaces and candles.

20. Never leave a burning candle unattended, especially with children around. Also place candles out of reach of children.

Review Your Insurance

In the event of a burn or fire, you want to make sure you're properly insured. Having good health insurance will help you with the financial burden of medical bills if you have to be treated for a severe burn. Make sure you're aware of what your deductible is and how much your insurance covers after that. In many situations where you could get burned, the possibility of a fire starting is also there. In fact, kitchen fires make up nearly half of all the reported home structure fires. Therefore, it's also important to make sure your Lake of the Ozarks homeowners insurance is up-to-date. Give your Osage Beach insurance agent a call at 573-348-2794 to start reviewing your insurance policies today!

Request a Free Quote Online! Contact Insure the Lake today for all your Lake of the Ozarks insurance needs! 

About the Author: Steve is a double back-flip insurance ninja. He was named Young Insurance Agent of the Year by the Missouri Association of Insurance Agents in 2010 and is a Certified Insurance Counselor. When he is not helping customers, he enjoys community service, Latin dancing with his beautiful wife and going on adventures with his two awesome sons.

Steve Naught, CIC

NAUGHT-NAUGHT AGENCY

3736 Osage Beach Parkway

Osage Beach, MO 65065

Next to Golden Coral

T: 573-348-2794

F: 573-348-0191

stnaught@naught-naught.com


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3 Reasons Why Insurance is Important

Being intangible, insurance is one of those things out of sight, out of mind. Many people have the minimum coverage required and that is all. In today's blog, Insure the Lake is going to discuss 3 reasons insurance is important. This goes for all types of Lake of the Ozarks insurance from home and auto to life and business.

1. Having Insurance is Required Sometimes.

Insurance is important because sometimes it's actually required by law. While the actual requirements may differ from state to state, nearly every state has a law on minimum auto insurance coverage.  Homeowners insurance may not be required by law, but if your house is financed, your lender is going to require it. Workers compensation insurance is also compulsory for business owners in most states. Talk to your insurance agent to make sure you have the coverage that is required in your state.

2. Insurance Offers Peace of Mind.

Insurance is one of those things you hope you don't have to use, but you're glad it's there when you need it. It offers peace of mind that in the event of an emergency or disaster, you can financially pick yourself back up. Medical bills from a car accidents, rebuilding costs for storm damage to your home or the death of the breadwinner in your family all can cause a huge financial strain on your family. Having insurance gives you the ability to relax in knowing that if any of those unexpected situations do arise, you have financial assistance to help cover it.

3. Insurance Provides Stability.

Along with peace of mind,  you also have stability. In the event of a death in the family, the insurance money (with the right coverage) will offset the lost income allowing the family to continue on as they were, financially anyway. While there will obviously be some disruption to the "normal" way of life, the financial stress will be avoided. As for businesses, insurance provides the stability needed to either continue business just as before or depending on your policy, can provide coverage for lost business due to a major interruption. Financial stability is one of the biggest benefits of having proper insurance coverage.

If you're just getting by with the minimum insurance coverage required, you could be putting you and your family at risk. Many insurance policies, such as life insurance, are more affordable than you might think. Talk to your Osage Beach insurance agent today about your options. Get peace of mind today by knowing you'll have financial stability in the event something goes wrong. Call Insure the Lake at 573-348-2794.

Request a Free Quote Online! Contact Insure the Lake today for all your Lake of the Ozarks insurance needs! 

About the Author: Steve is a double back-flip insurance ninja. He was named Young Insurance Agent of the Year by the Missouri Association of Insurance Agents in 2010 and is a Certified Insurance Counselor. When he is not helping customers, he enjoys community service, Latin dancing with his beautiful wife and going on adventures with his two awesome sons.

Steve Naught, CIC

NAUGHT-NAUGHT AGENCY

3736 Osage Beach Parkway

Osage Beach, MO 65065

Next to Golden Coral

T: 573-348-2794

F: 573-348-0191

stnaught@naught-naught.com


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