Your life insurance decisions can greatly impact your family’s finances. Consumers in Ruidoso, NM can purchase life insurance coverage from us at Family Insurance Associates. We help our customers to make life insurance decisions that ensure financial security in the future. 

Here are four common mistakes consumers sometimes make regarding life insurance. 

Waiting too long to purchase life insurance coverage

Buying life insurance is something that you should never put off. As you get older, purchasing life insurance may become more difficult. This is especially true if you end up suffering from a severe health problem. 

Buying life insurance now protects your family and gives you the peace of mind that you’re doing everything possible to secure your family financially. 

Choosing an inadequate amount of life insurance coverage

Your family may be entirely reliant on your life insurance for financial support if you pass away unexpectedly. This makes it essential for you to invest in adequate coverage. Carefully calculate the amount of financial support your beneficiaries will need without your income to determine how much coverage to buy. 

Failing to understand the various types of life insurance fully

You need to decide whether to purchase term, universal, whole, or another type of life insurance. It’s vital that you understand what the differences are between these various life insurance types to choose the right policy for your situation. 

Letting a life insurance policy lapse

Your life insurance policy can lapse if you miss a payment. It’s not always a simple matter to purchase a policy again after your policy has lapsed. That’s why you must ensure you keep up with all your premium payments. 

When you need life insurance in Ruidoso, NM, we’re here to help. Get in touch with us at Family Insurance Associates to get a quote on a life insurance policy. 

If you’re a business owner who is curious about whether you can file both a commercial and general insurance claim simultaneously, we’re here to help. At Family Insurance Associates, we’re here to help Ruidoso, NM residents with all of their insurance needs. 

What’s the Difference Between General Liability and Commercial Insurance?

Both general liability insurance and commercial insurance can work to protect your business. Typically, commercial insurance works to cover issues that are not covered by your general liability insurance. This means that it’s a good idea to have both policies in place to ensure that you and your business are protected in the event of an unexpected accident. 

Should You File a General Liability and Commercial Insurance Claim at the Same Time?

It’s essential to work closely with your insurance agent following a workplace accident to help you understand whether it makes sense to file a general liability claim or both a general liability and a commercial insurance claim. 

If you find that your general liability claim does not cover all of your expenses or does not cover the costs of the person affected by the accident, you’ll want to file a commercial insurance claim at the same time as your general liability claim. Your insurance agent may recommend that you wait to find out the payout from your general insurance claim before you file your commercial insurance claim, as your initial general claim may fully cover your expenses.

Family Insurance Associates: Serving Ruidoso, NM Residents

At Family Insurance Associates, we’re proud to serve Ruidoso, NM residents and business owners. Our team is here to meet all of your insurance needs. Reach out to us today or stop by to learn more.

Today, many people find insurance to be confusing and overwhelming. At Family Insurance Associates, we want to help the residents of Ruidoso, NM, and the surrounding areas, make intelligent, confident insurance decisions. Keep reading to learn more about choosing dental and vision insurance. 

Why Is Insurance Confusing?

Insurance can seem confusing because there are many types of insurance plans for different needs. If you don’t know how these different types of plans work for different types of people, you can quickly start feeling overwhelmed by all of the choices. You can alleviate some of this confusion and overwhelm by sitting down with a knowledgeable insurance representative. This professional will be able to walk you through the different plans available and help you decide which one is right for you. 

Are Dental and Vision Part of Health Insurance?

In some cases, yes, but in other cases, no. Some forms of health insurance include dental and vision coverage. If this is the case, you can make a few quick decisions to determine which services you will need. If dental and vision are not included in your health insurance, you will want to spend some time researching the types of available plans and which will work best for you. 

Do I Need Dental and Vision Insurance?

Dental and vision insurance are excellent services to have. Dental services and vision services can be expensive when paid for out of pocket. A dental and vision insurance plan can help offset some of these expenses. 

If you would like to learn more about health, dental, or vision insurance, don’t hesitate to contact us at Family Insurance Associates serving Ruidoso, NM, and the surrounding areas. We will be happy to help you. 

Life insurance policies can be confusing, and those requiring an exam often end up providing less coverage than someone needs, which is why no-exam life insurance policies are becoming a popular choice. These policies offer coverage without worrying about the hassle of a medical exam or a lengthy underwriting process. Still, there are many benefits to these policies, as well as more than one type.

Benefits of No-Exam Life Insurance Policies

No-exam life insurance policies have become popular due to their convenience and quick application process. Unlike traditional policies, they don’t require a medical exam or a lengthy underwriting process, allowing individuals in the Ruidoso, NM area to obtain coverage with minimal effort quickly. No-exam policies are especially beneficial for those with pre-existing medical conditions or who need immediate coverage due to major life changes.

Types of No-Exam Life Insurance Policies

There are mainly two types of no-exam life insurance policies available: simplified issue and guaranteed issue. Simplified issue policies require applicants to answer a few medical questions on the application, but they offer higher coverage limits and are usually more affordable than guaranteed issue policies. For help determining whether simplified or guaranteed issue policies are right for you, contact the experts at Family Insurance Associates.

Factors to Consider

When looking for a no-exam life insurance policy, there are several important things to keep in mind. These include how much you’ll need to pay in premiums, how much coverage you need, how long you’ll need coverage, the policy’s terms and conditions, and the insurance company’s reputation. Always take your time to compare policies for your specific needs.

Protect your family’s future with the help of Family Insurance Associates, serving the Ruidoso, NM area. Our team of experienced agents will work with you to find the right insurance coverage for your budget and needs. Visit our website today, or email us to learn more and to get started.

If you’re a business owner in New Mexico and looking for ways to protect your business investments, consider getting commercial insurance. 

Contact the insurance experts at Family Insurance Services in Ruidoso, NM for a free quote! 

Be Prepared for The Unexpected and Whatever Comes Your Way with Commercial Insurance

Commercial insurance is like having a financial security blanket that helps shield your business from financial losses in the form of lawsuits, theft of services, theft of intellectual property, and damage from natural disasters. 

General liability insurance shields your business from devastating financial losses from lawsuits if patrons are injured on your property. 

Worker’s comp can safeguard your finances against compensation claims for medical reimbursement and damages awarded to injured employees on the job site. 

How to Choose the Best Commercial Insurance Policy for Your Business in New Mexico

Business owners have a wide variety of insurance options to shield their financial investments from unexpected losses. 

The best way to find a custom commercial insurance policy to protect every aspect of your business is to talk to a knowledgeable insurance agent who can show you the benefits of each policy type.

A licensed insurance agent at Family Insurance Associates in Ruidoso, NM can answer your questions about getting commercial insurance in New Mexico.

They can also review individual commercial insurance policy options, add-ons, and premiums to customize coverage. 

Get a Commercial Insurance Quote in New Mexico

Ready to invest in a New Mexico commercial insurance policy to protect your business? An insurance solution is available if you need insurance to protect your business assets, commercial trucking fleet, or liability protection. 

Contact an insurance agent at Family Insurance Associates in Ruidoso and get a free quote for commercial insurance today! 

Perhaps your employer only offers the minimum medical insurance required by US law, but you really want dental and vision coverage. Family Insurance Associates wants you to know that you can add that coverage with a personal dental and vision plan from our firm.

Dental and Vision Coverage Choices

You have many choices. Not all dental and vision policies offer the same coverage. You can choose between the two – either adding dental or vision coverage. You don’t have to add both types of insurance.

Local Doctors

Don’t worry about keeping your local Ruidoso, NM doctors when you add this type of insurance. Our plans already provide local coverage.

Essential or Comprehensive Coverage

You will need to choose between plans covering essential annual checkups and more comprehensive plans covering advanced treatments. Dental insurance refers to treatments such as braces or invisible straightening options. Vision insurance refers to purchasing glasses, contact lenses, or undergoing laser surgery.

Deciding on a Deductible

Some plans offer no deductible, while others require you to decide on a deductible you find comfortable. A deductible refers to the amount of money you’ll pay for dental and vision services before insurance kicks in and pays.

A higher deductible typically lowers your monthly premium. A lower deductible raises the monthly premium. While it might seem tempting to choose the option that results in a lower premium, consider how often you’ll need services that require a deductible. Do the math to determine which option costs you less.

If you need to purchase glasses and contacts each year, then choosing a higher premium with a lower deductible could save you money in the long run. Similarly, if you know that you want to get braces or teeth whitening or you’ll need filings eventually, choosing a lower deductible with higher premiums makes more sense.

Contact Us Today

In Ruidoso, NM, contact Family Insurance Associates for dental and vision coverage to help you remain healthier. Let us help you build an insurance plan that provides for your dental and vision care.

Most people don’t want to think about life insurance too soon because it gets them thinking about when they die and leave their loved ones behind. Even though it’s something most people don’t want to think about, it’s important to think about and plan for sooner rather than later. There are many life insurance policies and ways to calculate how much life insurance might be right for you.

Types of life insurance policies available

There are two main types of life insurance policies available on the market. The first is term life insurance. Term life insurance only covers a certain time rather than the rest of your life. This option does not come with the option of building cash value as the permanent option does.

The second type of life insurance is permanent life insurance. Permanent life insurance is set in place for the remaining part of your life instead of a set time. With this comes a premium rate that is set at a fixed rate. Unlike term life insurance, permanent life insurance builds up cash value.

Important things to consider

On top of deciding whether you want term or permanent life insurance, other things are also important to consider.

• Your policy should include enough to pay off your debt in full, plus a little extra for interest.
• Income replacement for dependents if you are the sole income provider
• Only insure people who would be a financial loss to you if they died.

Calculating how much life insurance to get

There are a few different ways to calculate the right amount of life insurance that you should have.

• Multiply your annual income by 6-10 and add 100,000 per child.
• Multiply the annual salary by the number of years left until you retire.
• Take the amount of money survivors will need to maintain a standard of living and multiply it by 20.
• DIME: Debt, Income, Mortgage, Education

Contact us today for a quote at Family Insurance Associates in Ruidoso, NM.

Family Insurance Associates is the insurance resource for business owners in the Ruidoso, NM area. If you are looking for the right commercial insurance policy to protect your business, we are here to help! Contact our office today to learn more. 

Look for these features when selecting your commercial insurance policy 

Thinking of starting a new business, or has your established company outgrown its current policy? Finding the right commercial policy is an integral part of protecting your business. Below are a few features to consider when selecting your policy:

• An adequate level of protection – assess your coverage needs considering the value of all equipment and machinery. Be sure that your policy limits are enough to protect your business.
• Coverage for any specialized needs like high inventory risk or liability needs if you operate in an industry with many lawsuits associated with doing business. Liability protection is also crucial in high-risk industries where injuries often occur.
• Work with a local agent – when you obtain your commercial insurance policy through a local agent, you will have an effective resource available if you ever need to file a claim. A local agent will also be helpful when reviewing your policy for completeness before renewal.

Finding the right commercial policy doesn’t have to be a chore when you work with a local agent!

We are here to help with all of your commercial insurance needs 

If you own a business in Ruidoso, NM, or the surrounding area, turn to the team at Family Insurance Associates for all of your commercial insurance needs. Contact our office today and schedule a consultation to find out more about commercial insurance.

The best way to protect yourself from unnecessary expenses is to ensure you know what you’re signing up for. Check your company’s plan closely to ensure that these benefits are covered 100 percent. In addition, make sure you understand any waiting periods before you can receive coverage. Waiting periods vary widely, but they are often between 90 and 180 days—Call Family Insurance Associates in Ruidoso, NM for expert help. 

What to Know About the Restrictions 

Dental and vision insurance plans have strict limitations, including yearly maximums on benefits and a minimum period of coverage. Some plans have a waiting period before coverage begins. Dental plans have a maximum benefit amount for dental procedures. 

You might have a vision plan that only covers up to a certain dollar amount of prescription eyewear. Similarly, a dental plan might only cover certain procedures, such as root canals, but not cosmetic dentistry like teeth whitening. 

Some dental and vision plans have limitations on how often you can visit the dentist, how much vision care you can receive, or how much you can spend on vision care. Major medical usually has a fixed dollar amount, such as $500 or $1,000. 

You may not be covered for certain services, such as orthotics, during the first few months of your policy. Some policies have a maximum value. After receiving that amount, you must continue to pay for the plan’s share of the cost of covered services. Some plans have a maximum number of visits or amount of money you can spend on vision care per year. 

Final Thoughts 

If an employee’s spouse has a vision plan through their employer, can the employee add that spouse to their vision plan to avoid paying for the spouse’s vision coverage? What if the spouse’s vision plan is better than the employee’s vision plan?

Does the employer need to keep track of all of these plans? What if an employee has vision coverage through their spouse’s vision plan and the employee’s spouse has a better vision plan? For the correct answers, call Family Insurance Associates in Ruidoso, NM.

Life insurance is not something that is one and done. The life insurance that is right for you when you are 25 and unmarried may not be the same life insurance that is correct even ten years later. It needs to be reevaluated from time to time. At Family Insurance Associates in Ruidoso, NM, we know that this is not a subject most customers are very familiar with. We are delighted to discuss all the vital information with you. As independent insurance agents, we have loads of options to find the perfect fit. 

When you first go out on your own

Part of adulting is taking responsibility for your life. You are young and healthy, and dying is probably far down on your list of worries. But, it is never too soon to take responsibility for any debt that you may have. You may not need vast amounts of life insurance, but making sure you have some is good. 

When you change employers

If you count on the life insurance provided with your benefits package through your employer, changing jobs will affect your life insurance. 

When you start a family

Children are the most major change you will probably ever make in your life, and they are certainly someone you need to provide for. This long-term thing may require years of your income, depending on how young your children are. 

Retirement

Once you are retired, there may be very little need for life insurance unless you are not in a position to pay for final expenses. Talk about the options with your independent insurance agent. 

Contact Family Insurance Associates in Ruidoso, NM when you are ready to sit down and discuss what your life insurance needs are.