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What is the difference between term and whole life insurance?

Posted on November 17, 2023November 27, 2023 by admin

When choosing life insurance in Houston, TX, you have to make several choices. One of the most important choices is whether you want to purchase a term or whole life policy. At City Centre Insurance Agency LLC, we can give you the information you need so you can make an informed decision.

Life Insurance Policy Options

Term Life Insurance

Term life insurance is basically a contract between you and an insurance company that pays out in the event of death. This is the most common kind of life insurance and usually lasts between 10 and 30 years.

The person named in the policy is responsible for paying a premium every month. If the person dies during the time period, the insurance pays out. If the person does not die while the policy is active, the policy simply ends with no benefit to the insured.

Whole Life Insurance

Whole life insurance is different because it has a cash component. You can also carry the same whole life policy for an entire lifetime. Many people choose to purchase whole life policies for loved ones while they are young so these benefits are locked in.

The insurance will pay a death benefit if the insured person dies during the contract period. Some of the money paid into the policy adds up on a tax-deferred basis. You can borrow against your own policy to get cash. Once you have a whole life policy, your premium stays the same throughout your lifetime, with no need for a physical.

Reach Out To Us

There are advantages to buying life insurance as soon as possible. If you are in Houston, TX and would like to get the peace of mind you and your family deserve, please call City Centre Insurance Agency LLC today.

Managed care and what you need to know

Posted on October 20, 2023October 30, 2023 by admin

Health insurance is something that most people are not familiar with. It is not as simple as just choosing a plan, it is a matter of understanding what managed care is and how it affects you and your health. City Centre Insurance Agency LLC in Houston, TX offers more than one insurance carrier to guarantee that you will have the best possibility of finding the right policy.

When it is time to choose your health policy for the year, it can be very confusing. Understanding what will be covered, how much it will pay, and what managed care means are all important. You will have to live with the decision that you make for the next year. That is a long time to live with a bad decision.

Basics of Managed Care

There are three basic types of managed care: HMO, PPO, and POS. There are important differences between the different types and knowing what those differences are and how they affect your coverage. Managed care organizations have contracts with groups of healthcare providers and medical facilities to help control costs. The more restrictive a plan is, the less it usually costs.

HMO

HMO stands for Heath Maintenance Organization which is the most restrictive type. With an HMO you need to get care within the network and have a primary care physician to coordinate your care.

PPO

PPO stands for Preferred Provider Organization will usually give the best rates for care within the network. But will pay part of the costs outside the network.

POS

Point of Service coverage is a combination of HMO and PPO. It lets you choose which type of coverage you want on each occasion.

Schedule A Consultation Today

Contact City Centre Insurance Agency LLC when you need health insurance information or a new policy in Houston, TX. Give our office a call for a no-obligation quote.

How commercial insurance protects your small business

Posted on September 22, 2023October 1, 2023 by admin

Owning your own small business is part of the American dream. To avoid having that dream become a nightmare, having the right commercial insurance is essential. Owning a business is full of risks and mitigating those risks as much as possible is what you hope your commercial insurance will do. In Houston, TX, you can count on City Centre Insurance Agency LLC to help you to have the commercial insurance that is perfect for your small business.

Commercial Insurance Benefits

Property coverage

Commercial property insurance covers the building if you own it, but it also covers all the things that you use to do business. Depending on the nature of your business it can be machinery, tools, display units, electronics, office equipment, records, inventory, and raw materials. You will be able to get back on your feet much quicker with this coverage.

Liability coverage

Being sued is one of the biggest dangers that small businesses face. Without this coverage, your business may not be able to survive if you have to pay a judgment against you and the legal fees that go along with it.

Business interruption insurance

If your small business is hit by a covered peril, how will you meet your payroll or pay the regular monthly expenses? With business interruption insurance you will get the money that you need to stay current until you are able to get back up and running. Just because your business is down doesn’t mean your expenses go away.

Workers Compensation

Employers in Texas are not required to carry workers’ compensation insurance, but that doesn’t mean that they are not required to pay employees who are injured. Having workers’ compensation coverage makes everyone, the employer and the employee feel more secure.

We Are Here To Help

Call City Centre Insurance Agency LLC in Houston, TX if you want the help of our experienced independent agents when choosing your commercial coverage.

Exploring Types of Homeowners Insurance Policies

Posted on August 24, 2023September 11, 2023 by admin

For homeowners, a homeowners insurance policy is a must-have to protect your property and yourself from risk and liability. Getting the right type of policy will ensure you get the optimal protection for your specific situation. At City Centre Insurance Agency LLC in Houston, TX, all types of homeowners insurance policies.

Let’s look at the common types of homeowners insurance policies:

HO-1: Basic Form: As the name suggests, this is the basic form of homeowners insurance and offers the most limited coverage. Your home and personal belongings are insured for their actual cash value against ten named perils.
HO-2: Broad Form: This policy is a worthwhile upgrade from the basic form for those seeking pocket-friendly coverage. The home is insured at its replacement cost value, and personal property is covered at its actual cash value against six named perils.
HO-3: Special Form: The HO-3 policy is the most popular type of home insurance policy, especially among single-family homeowners. It offers coverage for all perils except those intentionally excluded in the policy. Some commonly excluded perils included war, mechanical breakdown, wear and tear, neglect, and intentional loss.
HO-4: Contents Broad Form: Also identified as renters insurance, it offers coverage specifically to those who rent homes. It covers your property inside the rented house and anywhere worldwide. For instance, if you travel for a holiday and lose your personal laptop, you will be covered by the HO-4 policy.
HO-5: Comprehensive Form: This policy offers more robust protection for single-family homes. Both the house and personal property are covered at replacement cost value. This coverage is more suitable if you have high-value assets, like gold jewelry and expensive art, within your home.

Need a reliable home insurance policy in Houston, TX?

Welcome to City Centre Insurance Agency LLC for incredible home insurance offers. Contact us today for free insights on what type of home insurance policy suits you.

What Is Auto Insurance, And Why Is It Important?

Posted on July 28, 2023August 9, 2023 by admin

If you own a car, you are required to have auto insurance in almost every state. Most drivers purchase auto insurance because it’s the law, but they don’t know much about it. We at City Centre Insurance Agency LLC in Houston TX are here to help. Let’s take a deep dive into auto insurance.

What Is Auto Insurance?

Vehicles are expensive assets, and car accidents are often unpredictable. Auto insurance is a type of insurance that provides motorists with protection against financial loss in the event of a crash or any other covered peril. It provides coverage for:

Liability: Your legal duty to others for property damage and bodily injury
Property: Such as theft or damage to your car
Medical: The expenses related to treating your injuries, rehabilitation, and in some instances, lost wages and funeral expenses

Benefits of Having Auto Insurance

Some advantages of having car insurance include:

It covers you in case you cause an accident: Causing a crash is among the most stressful things that can happen to a driver because you are likely to be responsible for the resulting costs. Auto insurance will cover these costs on your behalf.
It can help you take care of damages resulting from “acts of God”: Extreme weather events such as ice storms, hail, and wildfires can damage your vehicle. Auto insurance can aid you in paying for the damage during these extreme weather events where no one is at fault.
It protects passengers: If you are involved in a vehicle collision, your passengers will likely get injured. Auto insurance can help you pay for your passengers’ treatment.
It can supplement your health insurance: Auto insurance can pay for the treatment your regular health insurance won’t cover. For instance, if you damage your teeth in a crash, you can use your car insurance and dental insurance to pay for treatment.

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