Do You Need Term Life Insurance or Whole Life Insurance?

At The Smith Insurance Group Inc., we understand the importance of life insurance to your family’s future. You may not have yet paid off your home in Sandy, UT, or your children may have just started school. Life insurance can help you pay for those things after you’ve died.

You’ve got many choices of life insurance products, though, and that can make it a tough decision. You need to determine if you want term or whole life insurance.

What does that mean, you ask? The difference between the two policy types comes down to the period they cover.

Term Policies

A term policy refers to one that remains active during the specified period it covers. Typically, this refers to a period of 10, 20, or 30 years. The policy remains active if you pay your premiums during this period. If you die during the term of the policy, it pays your beneficiary the amount of money named in the policy.

Whole Policies

 A whole policy or whole life insurance is one that remains active throughout your life as long as you pay the premiums. Some whole-life policies let you purchase the coverage outright, so you pay the equivalent lump sum of the average number of years the typical policyholder pays into the policy. If that’s 30 years of premiums, that’s what you pay. Others require monthly or quarterly premium payments.

Contact Us

Contact The Smith Insurance Group Inc., serving Sandy, UT, for more information on life insurance. Let us help you find the ideal policy for you, whether you need a term or whole-life policy.

Make Sure You Have Motorcycle Insurance to Protect Your Ride

The Smith Insurance Group Inc. of Sandy, UT is ready to provide you with a quote or answer any questions you may have.

Insurance on your bike is as important to your protection while driving as all your safety gear. It pays for repairs, medical bills for injuries sustained, and replacement costs. Without this coverage, you would pay out of pocket for these things.

Most states, including Utah, require motorcycle insurance. Without it can result in hefty fines and, in some cases, the loss of your license. Here are some types of coverage that are recommended.

  • Liability coverage – it helps pay for costs resulting from damage or injury to another person if you are at fault.
  • Medical payments and personal injury protection – this coverage will help you pay for your own medical costs and provide personal injury protection for more coverage. Optional personal injury protection can help pay for lost wages, childcare, and other related expenses during recovery.
  • Passenger coverage – Anyone riding with you will not have to worry about medical payments resulting from injury if an accident occurs.
  • Collision and comprehensive coverage – help pay for damage done to your property. Collision covers the cost of repairing or replacing the motorcycle if involved in an accident. Comprehensive offers the same protection if a non-collision event occurs such as theft, fire, or weather event. Your bike is protected even when parked on your property.
  • Breakdown coverage – this optional coverage pays for certain repairs to your motorcycle. Similar to an extended warranty, it pays for engine, transmission, and other maintenance repairs.
  • Roadside assistance and towing – this coverage will have your motorcycle towed to the nearest shop. It also covers flat tires, battery failure, and mechanical or electrical failures, and provides free delivery of fuel, oil, or water if needed.

If you are a motorcycle rider, do not be caught without this insurance. The Smith Insurance Group Inc. of Sandy, UT can help you obtain the protection you need. Contact our team today.

Be sure to protect your boat when it is in dry dock storage

The Smith Insurance Group Inc. is the agency boat owners in the Sandy, UT area can turn to with all their insurance questions and needs. If you are wondering if you have the protection you need for your boat, give us a call or stop by today!

Dry dock storage insurance protection for your boat

Different boat insurance policies provide different levels and types of coverage. It is crucial to select a policy that has the protection that you need. Because everyone’s insurance needs differ, it makes sense to analyze your insurance needs carefully and choose a policy that meets them.

This is especially true when your boat is not on the water. There can be differences in the coverage provided depending on where and how you store your boat. Someone who trailers their boat home and stores it in the garage for the winter will likely have different insurance needs than someone who keeps their boat in a dry dock.

Let your insurance agent know your habits and preferences regarding boat storage so they can help you determine your unique insurance needs. Finding the right policy may take time, but it is worth the effort. 

Give us a call today!

Boat owners in the greater Sandy, UT area rely on the team at The Smith Insurance Group Inc. We help you get the right insurance to protect your boat. If it’s time to upgrade your current policy or you’re getting ready to buy your first boat, we are here to help. Contact our office today and let us help you with all of your boat insurance needs.

Your Health is Important – Make Sure You Are Insured to Protect You from the Unexpected

Don’t allow yourself to be caught in a financial situation because of unpaid medical bills. Let The Smith Insurance Group Inc. of Sandy, UT explain how health insurance can help you weather the storm of any unexpected medical bills you may encounter.

We never know when a car accident will put us out of commission. Or when a serious diagnosis from the doctor stops us in our tracks. Both of these scenarios can potentially negatively affect our finances.

Health insurance will provide financial protection if you are faced with the unthinkable. For example, if you suffer from a broken leg, it can cost up to $7500 or more. If you have health insurance coverage, it can defray most of the cost of this injury.

You can obtain preventive services such as vaccinations and lab tests, usually at no cost to you. Getting the recommended preventive services your doctor advises will help you to maintain good health and well-being.

With health insurance, you will have access to a network of doctors, hospitals, and other resources to maintain good health. You can find the doctor of your choice close to your home. You will have peace of mind and worry less because you know you have financial and medical protection in case of a medical incident.

That old phrase, "you have nothing if you don’t have your health," is a truism. A good health insurance plan will protect your health and your family’s financial future. Don’t be without it any longer.

Contact the insurance professionals at The Smith Insurance Group. Let us explain how a health insurance policy can benefit you and your family.

Finding a term life policy to fit any budget

The Smith Insurance Group Inc. is proud to provide the residents of Sandy, UT with the insurance services they need. If you are wondering how to fit a life insurance policy into your budget, we are here to help!

Finding a term life insurance policy to fit any budget

Life insurance is a crucial thing to have, especially if you are a parent. However, for many young families, every added expense can strain their budget.

Luckily, a term life policy can give your family the protection it needs without breaking the bank. Because of the many available and affordable options, it is unnecessary to go without life insurance protection. Now is a great time to review the possible options and choose the appropriate policy for your needs.

Adults who no longer need to protect young children can also find term life insurance beneficial. Such policies can help to defray burial and end-of-life expenses.

There’s no reason for anyone who wants life insurance to go without it. Sitting down with a local agent to review the available options is an excellent first step. Understanding what policies will fit into your budget will help you make an informed decision that will pay dividends for you and your family. Find out more about term life today.

Give us a call today!

If you live in Sandy, UT or the surrounding area, you can depend on the team at The Smith Insurance Group Inc. for all your insurance needs. We can help you review the term life policies that fit your budget and help you determine which one is right for you. Give us a call or stop by our office today.

Does Utah Require Boat Insurance?

Utah has no shortage of spectacular waterways to explore by boat, and doing so safely is the top priority of all involved. Utah does not require operators to have insurance on their vessels. However, this doesn’t mean that boat insurance should be skipped. Not only does boat insurance cover damage to your boat sustained in a covered incident, but it also provides invaluable liability coverage that can protect you from having to pay thousands of dollars in out of pocket fees for an accident that you cause that damages another person’s property or results in serious injury. Additionally, uninsured and underinsured boater coverage will protect you from paying for the repairs to your boat or medical expenses incurred by you or a passenger if a boat owner hits you without insurance. 

If your boat has a motor attached to it or is a sailboat, then Utah law requires that it be registered and numbered. The DMV processes boat registrations and the registration certificate must be on board the boat at all times if you are stopped by law enforcement. If you are operating a motorboat or sailboat, you can do so if you are under the age of 16 only if accompanied and supervised by a responsible individual that is 18 years or older. For personal watercraft devices, children between the ages of 12 and 17 can operate these vessels after completing a Utah State Parks approved boater safety and education course. 

For more information on boat insurance, call The Smith Insurance Group Inc. in Sandy, UT a call to learn more. 

 

 

The ABCs of Boat Insurance

Knowing how insurance works for something as expensive as a boat can be challenging. For example, if you are a new boat owner, you may wonder how much coverage will be enough for your boat or whether your home insurance covers your boat. At The Smith Insurance Group Inc., we want to shed some light on boat insurance.

If you are a boat owner, there are things you need to know to make sure you get the right insurance coverage for your pricey asset. As much as boats are fun, they are prone to many unfortunate incidences. That’s where boat insurance comes in. Without further ado, let’s look at the ABCs of boat insurance.

Different boat insurance coverages

Boat insurance isn’t designed as a one-size-fits-all insurance policy. You only choose coverage options suitable for your needs. Typical boat insurance options to choose from include:

  • Physical damage coverage
  • Liability coverage
  • Uninsured boat coverage
  • Medical coverage
  • Towing coverage

Boats may encounter various catastrophes, and that is why insurance is critical. Boat insurance offers coverage in boat sinking, theft, storms, collision, fire, and much more. Talk to your agent to see which coverage fits you.

Does home insurance cover your boat?

Home insurance covers small boats, typically for below $1,000. However, for bigger boats, you need boat insurance. Plus, home insurance only covers physical damage to your boat, excluding crucial protection like liability coverage.

Is boat insurance mandatory in Utah?

Unlike most states, boaters must purchase boat insurance in Utah. The mandatory boat insurance should include at least liability coverage in the policy.

Boat insurance in Sandy, UT

When using your boat, you need to have ample protection for peace of mind. Are you in Sandy, UT, and its surroundings looking for boat insurance? Contact us at The Smith Insurance Group Inc. Call us today for an affordable quote.

 

Why Should I Invest in Health Insurance?

Nothing beats a healthy you. Health is wealth. Good health keeps you going on with day-to-day activities living a happy life. But the increasing rate of health-related issues is worrying. Today you are enjoying life, and tomorrow you are bedridden. Not to mention the high cost of health care that has made health care a financial burden.

Nowadays, a consultation will cost some dollars, not to mention a simple surgery that might cost you thousands of dollars. In that case, health insurance has become necessary for everyone who wants to protect their assets. The Smith Insurance Group Inc. has prepared for you some of the reasons you should invest in health insurance.

Provides daycare services

One of the reasons for having health insurance is that it sorts your daycare treatment. Due to advanced treatment methods, some surgeries take a day, and you are left to go home the same day. It also provides outpatient services like consultations and clinic visits.

Caters for hospitalization expenses

Your health insurance should cover inpatient services like medication, boarding, surgeries, transplant, test, and much more. You can imagine the amount of money you could pay for this from your pocket.

Provides emergency services

Your health cover also pays for unexpected illnesses and injuries that require urgent treatment to avoid complications.

Provides routine health services

The policy provides health services that help us catch medical conditions early, like cancer screenings. It also offers preventative care like immunization.

Health insurance in Sandy, UT

Nowadays, health insurance is not just for hospitalization — it offers other benefits. There are many health insurance plans to choose from. Be sure to talk to an insurance agent to help you choose the right policy. If you are in Sandy, UT, and its surroundings, speak to us at The Smith Insurance Group Inc. for all your health insurance needs.

Who needs motorcycle insurance in Utah?

The Sandy, UT area can be a great place to work and live. When you are in this area, you will enjoy the nice weather that exists most of the year and the amazing terrain. Due to this, owning a motorcycle in this part of Utah can be a great option. There are various reasons why you will need to carry motorcycle insurance when in this part of the state. 

Coverage Needed to Protect Motorcycle

A reason that many will need to get coverage here is that it is the best way to protect the motorcycle. Your motorcycle is an important asset and one that you may rely on to get around the community. If you are looking to get a motorcycle, protecting the asset is very important. Your motorcycle insurance plan will offer the support that is needed to replace or repair your motorcycle if it is stolen, damaged in an accident, or you incur another form of the covered loss. 

Coverage is a Requirement

You should also get motorcycle coverage as it likely will be a requirement. Those that are going to drive a motorcycle need to make sure they have liability insurance. Without it, they will be in violation of state law and could face various penalties. Also, if you have a loan that is outstanding against your motorcycle, you could be required to carry a full insurance plan. 

Getting a motorcycle insurance plan is necessary for those that own a motorcycle in the Sandy, UT area. When evaluating your various options for motorcycle insurance coverage, calling The Smith Insurance Group Inc. can be ideal. As you are looking for support in this area, The Smith Insurance Group Inc. can help you choose a plan that will meet your needs and properly protect your motorcycle at all times. 

Full Life Insurance: A Look at This Option

Are you interested in a full life insurance policy but aren’t sure what it represents? You’re not alone. That’s why we at The Smith Insurance Group Inc. created this guide for Sandy, UT residents. Our team will help you better understand your options and minimize your confusion. 

Full or Whole Life Insurance Explained 

Whole life insurance will cover you for the rest of your life, not just for a set time. For example, term life insurance usually covers 10-20 years and will expire after that date passes. By contrast, your whole life policy will last the rest of your life and give you a high level of coverage and multiple levels of guarantees.

Their three primary guarantees include a guaranteed rate of return on the cash value, premium payments that don’t increase, and a death benefit that does not decrease. Though costlier than many types of life insurance, it does provide the most comprehensive payment options. 

What Full Life Insurance Covers 

This insurance policy will cover just about every type of death, including cancer, heart attacks, car accidents, murders, suicides, and much more. Most policies do have a built-in waiting period for suicide, though, as they don’t want someone to abuse the system in this way. 

Some policies may also not cover suicide, depending on their wording and their setup. Each death of this type is carefully investigated to ensure that it was not done for monetary gain by the receiving member. If the receiving member contributed to the death, they get no payout. 

Handling Your Insurance Needs 

Do you want a life insurance policy that makes sense for your needs? If so, please don’t hesitate to contact us at The Smith Insurance Group Inc. right away to learn more. Our team can help Sandy, UT residents find the policy that makes the most sense for their needs and minimize their financial difficulties.