When Should You Get Life Insurance?

Technically, the best time to get life insurance is right after a child is born, since life insurance gets more expensive as each year passes. However, chances are most people don’t have life insurance policies as they are born, so the answer to when you should get life insurance in Frederick, MD can depend on your financial situation. Age does play a role in when you should get life insurance, but you need life insurance when people will rely on your income.

Since life insurance provides money after death, whatever age you have people depending on your income is when you should get life insurance. There are plenty of common examples to demonstrate when life insurance is good. If you are 30 but still single, then you likely don’t need to purchase life insurance. If you are 25, married, and you have a newborn, then you should get life insurance. If you are 28 and both your spouse and you work then you may not need life insurance, but now is the time to begin thinking about it. In many cases, as soon as you start a family you need life insurance. Life insurance is not about you but instead helps provide for the family. If you don’t have a family, there are some other instances where life insurance makes sense. If you are single but a parent has cosigned a mortgage or student loan, then a life insurance policy can help pay for their share if something does happen to you. Even if you don’t have children yet, many married couples rely on both incomes to pay the bills, so it’s something to consider. An agent at Wellspring Insurance Network Inc. can help you determine if your circumstances mean you have time to wait on life insurance.

Contact Wellspring Insurance Network Inc. serving Frederick, MD, to get a quote on life insurance. 

 

Commercial Insurance For Your Ecommerce Store: What It Is And Why You Need It

When it comes to protecting your E-commerce business, insurance can be a tricky topic. However, commercial insurance coverage is an essential way to protect your online business. In the event that you are facing a claim, commercial insurance can be the difference between a minor situation and a total disaster. 

Do I Need Commercial Insurance?  

If you are an eCommerce business owner and have revenue coming in from selling products or providing services, you should think about commercial insurance. Even if you work out of your Frederick, MD home, coverage is essential, because your homeowner’s policy is not likely to cover any business lawsuits. 

What Are The Most Common Types of Ecommerce Insurance 

Wellspring Insurance Network Inc. recommends three basic types of insurance you need to consider for your Ecommerce business: 

Liability Insurance – Liability insurance protects you in the event a third party is injured by your product or service. For example, if a child is injured by a toy you sold their parents online. 

Property Insurance – If you sell products, you need to insure them. Property insurance covers more than inventory, it also provides replacement costs and protection against loss, theft, or damage to your inventory, equipment, and business property – which your Frederick, MD homeowners policy will not cover. 

Transit Insurance – Also called inland marine insurance, when you send or receive large batches inventory through suppliers, warehouses or distributors. this policy protects against loss or damage during the shipping process. 

Smart Business Planning 

There will always be some risks involved in running an E-commerce business, but worrying loss due to lack of insurance coverage shouldn’t be one of them. Working to identify the perfect commercial insurance for your E-commerce business with an informed broker can help you take those worries off your plate. For more information about how to protect your E-commerce business, call Wellspring Insurance Network Inc. today.