Personal Products* Policies:
Below is a brief and general description of each product for educational purposes only. One must always refer to the specific policy, in its entirety, in order to determine the exact coverage the policy provides. Please see our website’s . Please for more information on the protection these policies provide.
- Property and Casualty Policies:
- Auto (PAP): A typical policy covers the insured’s automobile, plus any newly acquired vehicles owned by the insured during the first 14 days after purchase, and any trailer owned by the insured. Every driver in a household must be covered under this policy.
- Boat: This policy covers small boats used on lakes and rivers. It includes coverage for damage to the boat, but does not include liability damages. This policy is recommended if the cost of replacing your boat is more than what you are willing to pay.
- Comprehensive Personal Liability: A policy providing protection to the insured and eligible dependents for personal actions resulting in bodily injury or property damage to others. This policy is recommended for well-to-do clients or those who are engaged in activities that increase exposure to liability or the chance of being sued.
- Flood: An important policy for many Central Texas residents. Flood insurance is purchased separately from your homeowner’s policy. The insured building must be affixed to a permanent foundation. There are two levels of coverage: 1) Emergency Program (lower limits of coverage), and 2) Regular Program (higher limits of coverage). Mudslides are only covered if the entire neighborhood is affected, but not if the insured’s property is the only one sustaining damage. This policy is highly recommended for all homeowners.
- Homeowner’s: This policy covers non-business related dwellings (excluding land it’s built on), other attached structures, selected personal property, liability and crime. If the covered dwelling is uninhabitable due to a loss, the insured is provided with living expenses or fair rental value. This policy is required if you have a mortgage on your home and is recommended to all homeowners.
- Mobile Home: This policy covers mobile homes for the replacement cost or actual cash value of the home. However, other properties attached to the mobile home are covered on the actual cash value basis. This is recommended for mobile home owners.
- Personal Umbrella Liability (PUL): A policy that provides additional higher protection limits over existing policies or items not covered under existing policies. This is recommended for well-to-do clients with high exposure to liability or chance of being sued.
- Renters: This is a policy that covers the personal property of a renter. Very often renters are the ones most in need for this insurance policy because they often don’t have the funds necessary to replace what they may lose. This is recommended to all renters.
- Life and Health Policies:
- Individual and/or Family Health Policy: Covering losses due to medical services, health issues, accidents, and injuries, this is very important coverage to have and is recommended to all of our clients and their families.
- Disability Income: This coverage is intended to replace a portion of the insured’s income should they become disabled. This policy is especially recommended for individuals with high exposure to personal injury (those who have high risk jobs such as construction workers, etc.).
- Family Income Policy: Consists of a Decreased Term Life policy and a Whole Life insurance policy. This coverage provides income to the family beginning at the death of the insured, until the policy expires. This policy is especially recommended for clients with young children or grandchildren to support.
- Health Savings Accounts (HSAs) or High Deductible Health Plans (HDHPs): These policies allow individuals (under age 65) and/or eligible dependents to pay for current health expenses and save for future qualified medical and retiree health expenses on a tax free basis.
- Joint Life Policy: A policy written on the lives of two or more individuals. This policy pays the face value when the first death occurs and is recommended for married couples or non-married couples in long-term committed relationships.
- Long Term Care Insurance: Coverage intended to reimburse for the costs associated with medical and/or covered personal services provided to the insured in a non-hospital setting due to ongoing illness, injury, and/or age-related complications. This policy is especially recommended to clients who may not be able to afford the cost of such care.
- Term Life Insurance: There are various types of Term life insurance policies. Typically, the insured pays premiums for a limited time, with coverage provided during that time. The face amount is paid only if death occurs during the time the policy is in-force. Policies of this type are the least expensive life insurance option and are recommended for insureds with a family or an identified beneficiary that s/he wants to support after death. This policy is also recommended to clients who want to fund a buy-sell agreement for business continuation purposes.
- Whole Life Insurance: There are various types of Whole Life policies. The main difference between Whole Life and Term Life is the flexibility and savings feature encompassed in Whole Life policies. The insured may choose to pay premiums for as long as s/he lives, with a single lump-sum payment, or over a certain number of years. The policy can be structured to pay the face value when reaching a certain age or at the end of a specified period. This policy is recommended for clients who want to have life protection with a savings feature.
* Please note that we may or may not offer all of the products listed above at all times or for your particular business or personal needs.
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