BUSINESS

Do you have questions about business insurance to help you choose the best coverage and policies for you and your business?  Remember, fires and car accidents happen; people slip, fall, get sick, and even die. And all of these things can occur in your business. This is with all businesses, whether they are one-person operations or multimillion dollar corporations, need business insurance.  Call today 603-436-3922.  Here are answers to six of the most frequently asked questions about business insurance.

LIFE

Living Life Benefit Policy - As an example, if you need a $500,000 benefit and have a critical or catostrophic illness or become disabled, you can draw on this policy of up to 70% on a 10, 20 or 30 year.   Ask me how.

1. I own a small business. The only person working with me is my wife (or son, or brother). Do I need workers' compensation insurance?

 

Yes, family members must be covered by workers' compensation insurance, even if they are the only employees of the company.

 

2. If I am an officer of a corporation as well as an employee who does a lot of administrative work, do I have to carry workers' compensation on myself?

 

Yes; All employees of a corporation must be covered by workers' compensation insurance.

 

3. I'm self-employed, the sole proprietor of my company which is not incorporated; Do I need to get workers' compensation insurance for myself?

 

No, as the sole proprietor of an unincorporated business you would not need to insure yourself. However, as a sole proprietor, you do have the option to elect coverage for yourself. For more information, call us.

 

4. I am self-employed, the sole employee of a corporation; Do I need workers' compensation insurance?

 

Yes, as an employee of the corporation, even as its only employee, you must carry workers' compensation insurance.

3. I'm self-employed, the sole proprietor of my company which is not incorporated; Do I need to get workers' compensation insurance for myself?

 

No, as the sole proprietor of an unincorporated business you would not need to insure yourself. However, as a sole proprietor, you do have the option to elect coverage for yourself. For more information, call us.

 

4. I am self-employed, the sole employee of a corporation; Do I need workers' compensation insurance?

 

Yes, as an employee of the corporation, even as its only employee, you must carry workers' compensation insurance.

 

5. I am starting a business and need workers' compensation insurance. What do I do?

 

You can get insurance through any insurance agent or broker who handles business insurance, call us today and  we can walk you through the types of insurance.

 

6. I am the owner of a very small business, with only a few employees. Do I need workers' compensation insurance?

 

All employers in New Hampshire are required by state law to carry workers' compensation insurance covering their employees, including themselves if they are an employee of their company. This requirement applies regardless of the number of hours worked in any given week, except that domestic service employees must work a minimum of 16 hours per week in order to require coverage.

 

 

4. What is Variable Universal Life Insurance?

 

This is a form of universal life insurance that combines the premium and death benefit flexibility of traditional universal life insurance and the investment flexibility and risks of variable life insurance. These products are considered securities because the policy owner assumes investment risk associated with the variable investment divisions, whose performance will fluctuate with market conditions. Variable Universal Life is offered by prospectus only, which contains complete information about the product including charges and expenses.  Call today 603-436-3922 for more information about Variable Universal Life.

3. What is Universal Life Insurance?

 

This is adjustable life insurance that allows flexible premium payments,* pays the life insurance benefit if the insured dies before the maturity date, and pays the cash value if the insured is living at the maturity date. A flexible premium is one that may be paid at a scheduled or unscheduled time. When a premium is paid, an expense charge is immediately deducted and the balance is placed in a cash value fund to earn interest at the current rate. Each month, all insurance expense charges necessary to keep the policy in force are paid internally from the cash value, regardless of whether or not the premium was paid. The cost of insurance will increase each year on the policy anniversary based on the attained age of the insured. This is a non–participating policy on which no dividends are payable.

 

* The policy will terminate at any time if the cash surrender value is insufficient to pay the monthly deductions. This can happen due to insufficient premium payments, if loans or withdrawals are made, or if current interest rates or charges fluctuates. Call today 603-436-3922 for more information about Universal Life.

 

Here are answers to four of the most frequently asked questions about life insurance to help you choose the best policies for you and your loved ones.  Call today 603-436-3922

 

1. What is Whole Life Insurance?

 

This is life insurance that remains in force during the lifetime of the insured, provided premiums are paid as specified in the policy. Whole Life provides a guaranteed premium, a guaranteed death benefit, and a guaranteed cash value. While a Whole Life policy is in force you may take out a policy loan against the cash value or receive the cash value (less any policy loans and accumulated interest) should you need to surrender the policy. In addition, a Whole Life policy can pay dividends, which may be used to enhance both the death benefit and the cash value or may be used to reduce your premium payment. Dividends are not guaranteed and policy loans accrue interest and reduce the death benefit. For more information about Whole Life please Call today 603-436-3922.

 

2. What is Term Insurance?

 

This is life insurance, that pays a death benefit provided the insured dies during a specified period, and premiums are paid as designated in the contract. No death benefit is payable if the insured survives past the end of the term. Since premiums paid are used entirely to cover the cost of insurance, there is no cash value on a term insurance policy. Premiums may increase or decrease, depending on the type of term insurance owned. For further information about term life, please Call today 603-436-3922.

 

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