At The Smith Insurance Group Inc. in Sandy, UT, we help our clients prepare for all stages of life. From ensuring that your house is covered as you raise your kids to preparing to provide for your loved ones at the end of life, our policies are designed to ensure your family is ready for anything life throws at you. While many life insurance policyholders opt to list a family member, spouse, or close friend as a beneficiary for their life insurance policy, others may want to leave a legacy behind and support their favorite charitable cause. If you list an organization, such as your preferred charity, as a life insurance beneficiary, you might worry that it won’t be possible. While there are some limits on what we can and can’t do with life insurance policies, there may be some wiggle room to have an unconventional life insurance beneficiary.

Can I Donate My Death Benefit to a Non-Profit?

Similarly to naming loved ones as a beneficiary of a life insurance policy, you can add a non-profit organization or charitable organization to your life insurance policy as a beneficiary. If you’d like to divide your life insurance benefit between family members and a charitable cause, you can list multiple beneficiaries for your life insurance policy. If you list a charity as a life insurance beneficiary, you’ll want to notify them so they can contact your insurance company in case of your passing. Adding a charity as a beneficiary is sometimes restricted, so you’ll want to review your policy with our agents.

For more information about our life insurance policies, call The Smith Insurance Group Inc. in Sandy, UT!

Boats bring a lot of joy and memories to our lives. Sadly, boats are a seasonal treat, especially for Sandy, UT residents. Because of this, you may wonder if there’s any point in keeping insurance on your boat during those cold winter months. After all, you aren’t using it, so why do you need coverage?

Unfortunately, it’s not as simple as that. The Smith Insurance Group Inc. is here to explain why you need boat insurance year-round.

You Might Be Required To

If you are currently making payments on your boat, your lender likely requires you to have some level of insurance coverage year-round. This is because they want to ensure that their investment is always protected. In addition, the marina where you dock your boat may require insurance as well since they’re often not responsible for the damage.

There’s No Off Season for Disasters

Just because your boat isn’t out on the water doesn’t mean it can’t be damaged. Depending on where and how you store your boat, it may be at risk of storm damage, fires, theft, vandalism, and more. If you have allowed your insurance coverage to lapse, you may be left paying for the repairs–or even a new boat–out of pocket.

Speak With An Experienced Sandy, UT Agent About Boat Insurance Today!

Your boat is a significant investment and should be protected as such. Here at The Smith Insurance Group Inc, we understand how important your boat is and will work with you to find the coverage options that best suit your needs. Contact our office today to learn more about how we can help you.

Understanding the complex world of health insurance can be rather challenging. At The Smith Insurance Group Inc., located in Sandy, UT, our goal is to make it easy and help you understand the different types of plans and policies available. Review some of the most popular ones so that when you come in for your consultation, you can feel comfortable about the level of knowledge you have on the subject.

The Four Main Types of Health Insurance

Health Maintenance Organization (HMO) Plans

HMOs offer a range of services within a network of healthcare providers. With this plan, you must choose a primary care physician (PCP) who will manage your healthcare needs. You’ll need a referral to see specialists. HMOs usually have lower out-of-pocket costs, but you’ll have limited flexibility when choosing a provider.

Preferred Provider Organization (PPO) Plans

PPO plans offer more flexibility in choosing healthcare providers. You don’t need a referral to see a specialist; you can visit providers outside the network. However, out-of-network care may result in more money coming out of your pocket.

Exclusive Provider Organization (EPO) Plans

EPOs are a combination of sort between HMO and PPO plans. Like HMOs, you’ll need to select a primary care physician and receive care within the plan’s network. However, you don’t need a referral to see specialists. EPO plans typically have lower premiums than PPOs but offer less flexibility in provider choice.

Point of Service (POS) Plans

POS plans combine elements of HMO and PPO plans. You’ll choose a primary care physician and need referrals for specialist care. However, you can receive out-of-network care at a higher rate if you choose to. POS plans will have you reaching for your wallet less than PPOs but offer more flexibility than HMOs.

Get Expert Guidance from The Smith Insurance Group Inc.

At The Smith Insurance Group Inc. in Sandy, UT, we know that every individual and family has different healthcare needs. Our knowledgeable staff will help you review the different types of health insurance plans and assist you in choosing the best plan for your situation. Contact us today to start your journey toward the health coverage you need.

The agents at the Smith Insurance Group Inc. serving the Sandy, UT area express the importance of a motorcycle insurance policy. Utah requires all drivers, including motorcyclists, to have liability insurance before they can legally drive on public roads. Motorcycle liability insurance will help you pay for any damage to another driver’s vehicle or injuries caused in an accident deemed your fault.

You can choose from many other types of motorcycle insurance to create the best policy for you and your situation. Read on to learn more about other types of motorcycle insurance coverage options.

Types of Motorcycle Insurance Coverage Options

Uninsured and Underinsured Motorcycle Insurance

If you become involved in an accident that is the other driver’s fault but that driver does not have any insurance or does not have an adequate amount of insurance, this type of motorcycle insurance will come in handy. This is because it will help you repair your bike and pay medical bills if you or your passenger are injured due to the accident.

Comprehensive Insurance

Comprehensive insurance will help if a natural disaster, such as a tornado or hurricane, damages your bike. It can also assist you with repairs or replace your motorcycle if it is damaged or destroyed by a fire or vandalism. This insurance coverage will also help you replace your bike if it is stolen.

Collision Insurance

If you collide with another vehicle or hit a stationary object, collision insurance will assist you in paying for any damages.

If you owe money to a lender for the purchase of your motorcycle, you will need to have both collision and comprehensive insurance coverage to protect your lender’s investment in your motorcycle.

Contact Smith Insurance Group Inc.

To obtain adequate motorcycle insurance for you and your bike, contact the experienced and knowledgeable agents at the Smith Insurance Group Inc. serving the Sandy, UT area today!

We all know how important life insurance is, but it can be challenging to determine precisely how much coverage you need. Everyone’s situation is different, and the right amount of life insurance depends on your individual needs. The Smith Insurance Group Inc. specializes in protecting Sandy, UT area families with life insurance policies.

Determining how much life insurance is enough.

When deciding how much life insurance to purchase, you should consider a few factors. The most crucial factor is determining the amount of money your family will need if you pass away suddenly. This includes funeral expenses, any debts you may have, and any other financial obligations such as mortgage payments or college tuition costs for your children. You should also consider the income your family would lose in the event of your death and factor this into the total amount of coverage needed.

Once you have an estimate of the financial obligations that need to be met in the event of your death, you should decide which type of life insurance policy best fits your needs. Term insurance policies provide coverage for a set period at a lower cost than permanent policies but do not offer any cash value. Permanent policies such as whole-life and universal-life provide lifetime protection with tax-advantaged cash values that grow over time. 

Determining how much life insurance you need is a personal decision based on your circumstances and goals for protecting your loved ones after you’re gone. Talk to an experienced broker at The Smith Insurance Group Inc. who can help guide you through this process and suggest specific types of policies that meet your unique needs. We proudly serve the Sandy, UT area.

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.