When you think about life insurance, your mind only points you to protecting your loved ones. While this is true, life insurance is a lot cooler than that. Life insurance can be the most prized asset you have if you plug it thoughtfully into your financial plan. To that end, Family Insurance Associates of Ruidoso, NM shares insights into how life insurance can protect your financial interests.

Accessing cash value

While most people associate life insurance with death benefits, many don’t know that you can access part of the investment while alive. Some life insurance plans allow you to access your accumulated cash value, enabling you to meet financial needs like college fees. Besides, you can borrow against your cash value or use the proceeds as supplemental retirement income. 

Business protection

Many people assume that life insurance is just for individuals. The truth is that you can invest in life insurance to protect your business. Life insurance protects your hard-earned business by keeping things running even after an exit of a key employee or partner. With proper planning, life insurance can help your loved ones maintain control of your investment by using life insurance proceeds to purchase your stock. 

Covers your debts

If you don’t want to leave a debt-laden legacy, then you must consider life insurance. When you die, your debts don’t disappear magically. While some may be discharged -for others-your cosigners will have to pay them off. You certainly wouldn’t want this because you are a prudent financial planner. With life insurance proceeds, outstanding mortgage or car loan can be cleared, saving your loved ones and cosigners the debt burden. 

Invest in life insurance today!

Although life insurance protects your loved ones, it can do a lot more than that. Life insurance safeguards your financial interests later in life and even when you die. In light of this, if you are considering life insurance in Ruidoso, NM, you are on the right track. Contact Family Insurance Associates for a personalized quote. 

You are working hard every day to grow your business and to be able to reap the benefits but first, you must make sure you have the best commercial insurance policy in place to protect it. The commercial insurance agents at the Family Insurance Associates in Ruidoso, NM can help you to create a commercial insurance policy that works best for all of your business needs.

New Mexico Commercial Insurance Requirements

In the state of New Mexico, all drivers must have an auto liability policy in place and this includes your business-owned vehicles and anyone using a personal vehicle while doing work for your business. This type of insurance will cover anyone injured in a car accident and any property damage that occurs due to an accident.  

Also in New Mexico, you must carry a worker’s compensation insurance package for your employees if you employ three or more people, whether they are full or part-time employees. This type of coverage will help pay for the lost wages and medical bills of an employee who is injured on the job.

Business Owner’s Insurance and General Liability

Your business owner’s insurance policy, as well as a general commercial insurance liability policy, will cover medical bills for anyone visiting your business who is injured or anyone that suffers injuries due to something connected with your business. Either one of these types of policies will also cover any customer property that is damaged by your business as well as any damages your business incurs due to a natural disaster, a fire, vandalism, or a theft incident. A general liability policy can also cover your business and you if there is a libel or slander lawsuit filed against your business.

Other Coverage Options

Other commercial insurance options that you can obtain include cyber and professional liability insurance. Cyber liability insurance covers your business if a data breach occurs in compromises your customers’ information, and it will also help cover the cost of contacting near customers to let them know about the data breach. It also covers the cost of monitoring for fraud. Professional liability insurance will cover any lawsuits due to negligence, late or incomplete work by your business, or any mistakes and oversight that happened with your business.

Contact Us

To create the best commercial insurance policy for you and your business comment contact the commercial insurance agents at the Family Insurance Associates in Ruidoso, NM today!

There are a lot of insurance products available today. Sometimes, shopping for insurance can feel overwhelming. At Family Insurance Associates serving Ruidoso, NM, we are here to take the confusion out of insurance. We want you to be able to make the best insurance choices, so we are providing the best insurance information for you and your family. Keep reading to learn more about dental and vision insurance. 

Do I Need Separate Dental and Vision Insurance?

Many people incorrectly think that dental and vision are included in all health insurance policies. This is not always the case. In many cases, dental and vision will not be included in your regular health insurance policy. It will be necessary to purchase a separate policy. You should read your health insurance information closely to determine if you need dental and vision as well. 

Are Dental and Vision Plans All The Same?

Another misconception people have is to assume that vision and dental plans are all alike. Plans can vary greatly. The reason for this is to make sure you are not purchasing and paying for services you do not need or want. This is to give you more options. However, it is also very important that you review the dental and vision plans carefully to make sure you are only purchasing and paying for services that are appropriate for you and your family. 

The best way to determine which dental and vision plan you need is to sit down with an insurance representative. Our staff will be able to help you navigate the information concerning dental and vision insurance coverage so that you can make the best possible choice. 

If you would like to learn more about dental and vision insurance coverage, please call our staff at Family Insurance Associates serving Ruidoso, NM. 

Life insurance an important thing you can do for your family. It is a way to show them how much you love them. Unlike your home and auto insurance, you don’t get a yearly renewal on your life insurance so you may just pay the premium and not think about it.  At Family Insurance Associates in Ruidoso, NM, we know that the amount of life insurance you need to protect your loved one changes over your lifetime and should be reviewed particularly when there are major changes in your life.

Job change

One of the benefits most jobs offer is life insurance. When you change jobs you may be able to retain your life insurance by taking over the premium yourself. This may not be the best option. You should talk to your personal insurance agent to see what they have to offer before you decide on the best option. 

Purchase a home

A home is a huge financial responsibility and you need adequate coverage if something happens to you. Leaving your family or loved ones to figure out how to pay your mortgage is a bad thing. 

Getting married

When you get married you will change the beneficiary on your life insurance. While you are talking to your insurance professional take the time to evaluate the amount of coverage you have.  

Having children

Children change your life in many ways. Making sure that they will be able to continue the same life you provide if you are not there to provide for them is vital. This figure depends on the age and number of children as well as your income. 

At Family Insurance Associates in Ruidoso, NM, we would be happy to review your life insurance coverage with you. Call our office or stop by and let us help you make sure you have the right amount of life insurance. 

When you operate a small business you take on certain risks that are unique to the type of company it is. The team at Family Insurance Associates of the Ruidoso, NM area will help you get a commercial business package that is specific to your needs.

Strategic Risk

Often, you don’t have a solid plan for your decision-making process if issues come up when you first start your business. If you know the structure, target market, production strategy, and how you’ll handle sales and marketing, you’re definitely in good shape. It makes sense to have a group from different departments (or even if you hire a consultant for some aspects) to discuss how you’ll handle any crises that come up.

Reputation Risk

This is often overlooked but it’s an important one. Since much of business is done by people doing research and deciding that they like how your company operates, it can be disastrous if a customer(s) put up bad reviews or take to their social media and say negative things about your business.

Liability Risk

All organizations must deal with some level of liability risk. However, your business would be more vulnerable if it’s small since you wouldn’t have the means to pay for damages without it hurting the funds for operating your company. If a customer or employee is hurt or you fail to meet any contractual obligations, you may have a lawsuit against your company. It is worthwhile to have a lawyer on your side to seek advice.

Business Interruption Risk

If your business is interrupted by a natural disaster or something else, this can make it difficult or impossible to go to your office. There may be damage to your equipment or supplies. If you have few staff members and one or several have an illness this impacts your operations as well. For this reason, you should have a business continuity plan that you go over with your staff.

Financial Risk

Of course, as a small business, you already have fewer funds than a larger organization. If there’s a hit to the local economy or even a recession across the nation, this can hurt your business. Make sure that you know your options such as funds, state, or federal grants, or if there are paycheck protection programs that will help you pay your employees.

Family Insurance Associates will work with you to put together the commercial insurance policies that make the most sense. Serving the Ruidoso, NM region, we are proud to work with small businesses to give a measure of protection for these risks and more.

It is far better for you to have a health insurance plan than not. Health insurance can cover everything from regular doctor visits to treatments for catastrophic ailments like cancer.

However, as Family Insurance Associates serving Ruidoso, NM explains, health insurance often does not cover vision and dental. You may want to consider carrying an additional policy that covers these two crucial parts of the human body. Such a policy would likely save you a great deal of money over the long term.

Some people who have 20 20 vision believe that they don’t need vision insurance and can pay for regular visits to the eye doctor out of pocket. However, most people need to wear glasses or contacts for one condition or another and therefore, would benefit from carrying such insurance. Dozens of eye conditions come with age, such as cataracts and macular degeneration. Your eyes are important to your livelihood, and protecting your vision should be a top priority.

Dental insurance is a must for everyone. If you count up all the teeth cleanings, X-rays, fillings, and so on, then dental insurance becomes cost-effective. Add to those expenses treatments for chipped teeth and cavities. Then you can see why this type of policy is likely something that you need to carry. Having teeth in good condition gives you the ability to chew and enjoy food to the fullest.

For more information on vision and dental insurance and the benefits of carrying it, contact Family Insurance Associates serving Ruidoso, NM for more information.

The only rule most life insurance providers in Ruidoso, NM have regarding who you can and cannot name as a beneficiary is that you can’t name a minor. If you want the policy to pay out to a niece, nephew, son, or daughter who’s under eighteen, you’ll need to go through a trusted adult.

Beyond that, you can name anyone you like as a beneficiary, from your wife to your best friend to a favorite football player.

So now the question is: Do you need to provide any sort of documentation as evidence of your relationship to the beneficiary? The answer is no. You might not even need to prove that you’re married to your spouse.

But, they do need the beneficiary’s legal name, and depending on the nature of the relationship and the nature of the policy, they might need some information like social security number, mailing address, and phone number. This varies from situation to situation, and you’ll have to wait and see what information your insurer asks for.

If you have a marriage license for your spouse, birth certificates for your kids, that can be of help, but no document proves someone is your best friend. Some human relationships are easy to document; others are not. Life insurers know this, and they know that not every life insurance beneficiary is going to have the paperwork to prove that they fill that role in your life that you say they fill.

If you’re looking for life insurance in Ruidoso, NM, get in touch with Family Insurance Associates. Family Insurance Associates can help to connect you to the policy that you need to set your mind at ease.

If you’ve been in business for a while, the chances are high that you’ve had the same commercial insurance policy for a while, too. That can mean it’s time for a review of that policy, to help ensure it’s still protecting you appropriately. As your business grows and expands, or goes through changes, your insurance needs can also change. What worked for you when you opened your doors might not fit your current business model the right way. At Family Insurance Associates, we want to make sure all our Alamagordo and Ruidoso, NM business clients have the appropriate level and type of insurance coverage, so their companies can be protected. We’re here to help you succeed.

When you get a business insurance review, we’ll look at all the ways your policy is protecting you and where any gaps in coverage might be. By asking plenty of questions about your current business and how it’s changed since the last time your policy was reviewed, we can get a clearer picture of how your commercial policy is meeting your needs. You have enough to think about as a business owner, and you don’t want to have to worry about your insurance policy, too. We can give you back peace of mind, knowing that you have the proper coverage level you need to keep your business thoroughly protected in the long run.

One of the leading causes of tooth loss and poor vision is a lack of treatment when it’s necessary. A leading cause of health neglect is a lack of insurance. Paying for services out of pocket can be overwhelming for many, which is why it is a great idea to have dental and vision coverage.

Catch Issues Early

Vision and dental insurance can help you stay problem-free because it covers the cost of routine checkups and evaluations to detect problems before they can cause extensive damage. Most dental and vision insurance allows for these visits and may pay most, if not all, of the office visit cost. For more information on how dental and vision insurance works, have a consultation with an insurance agent.

Finding the Right Plan

There are many dental and vision insurance plans on the market today. Those who live near the Ruidoso, NM area can count on Family Insurance Associates to provide them with top options to fit each need. The licensed insurance agents there can work one on one with each client to determine their current and potential future needs to help recommend plans that can work based off of personal factors. In addition, if there are any questions about coverage options or claims, we can help you understand how the policy works and all of the terms and conditions.

Anyone interested in purchasing dental and vision insurance, and lives in the Ruidoso, NM area, should call or stop by Family Insurance Associates today and speak with a representative. Don’t wait until issues arise to get the coverage necessary to keep an eye on your vision and dental health. 

Life in Ruidoso, NM, has its perks. The fresh mountain air, fantastic winter sports and laid back New Mexico lifestyle are all amazing. Sometimes it’s hard to imagine thinking about things like life insurance, but it’s important. When shopping, you’re sure to have plenty of questions, but at Family Insurance Associates, we’ve found that the very top question is, “How much life insurance is enough?”

Consider Your Debt

No one wants to leave behind debt. Ultimately, all of the bills come due, and that’s not a pleasant thought. So, consider how much you have left on a mortgage, car loans, student loans or anything else. If the insurance policy can cover everything remaining on those loans, it’s a very good start.

Keep something in mind. You can be in a good financial situation and have debt right now. There’s nothing wrong with it. But, when you aren’t working, the paychecks stop coming. That’s why the insurance needs to cover all of your outstanding debts.

Who Do You Support?

That brings us to the next point. The paychecks stop coming. That means anyone who depends on you for income could be in a very difficult spot. This doesn’t just have to be a spouse or children. Plenty of people support their parents, other family members and other people in general. With life insurance, you can maintain that support by having a sufficient policy. The general idea is that the lump sum of life insurance can be invested to provide lasting income. The rule of thumb is to have $500,000 plus however much you make in a year. It’s not a perfect gauge, but it gets you in the ballpark.

You can see how getting the right amount of coverage can be tricky, even in Ruidoso, NM. A simple conversation with your Family Insurance Associates representative can make sure you have everything you need.