Finances are a crucial part of your business – and one of the biggest threats to any business is mismanaged finances. Financial mismanagement could result in a business collapse. If you don’t know how to handle your accounts, then hire an accountant instead. He will do the work for you, and you wouldn’t have to worry about anything at all. It will cost you money, though, but it will be worth it if it means your business will be kept afloat. Your accountant will make sure that you’ll meet your tax obligations and check whether or not your business is profitable.
Protecting your Intellectual Property
While intellectual property may be complicated, it is a matter that you shouldn’t ignore. Intellectual property refers to the ideas you have and the brand of your business. You wouldn’t want other people to steal your ideas, right? That’s why you should seriously consider trademarking and copyrighting your brand. To do this, you need to contact a trademark attorney. He will help you acquire the legal protection you need to keep your brand safe for the years to come.
Protection from Cyber Attacks
Among the biggest threats your business faces every day is probably cyber-attack. Criminals and hackers attack your online security to extract information from your business. Thus, if you store financial data on your computer, you need to take extra precautions. Fortunately, there are ways in which you can prevent hacks and cyber-attacks though. For one, you should install a firewall and use strong passwords for sensitive data. Employees should also be given proper training on how to stop these attacks.
Aside from that, you should also consider getting protected by cyber liability insurance. It will help protect you from the liabilities of a data breach. Talk to your agent about this and discuss your options.
Protection of Physical Assets
The property your business owns is worth a lot, so they should be protected. Physical assets include your office or building, commercial vehicle, computers machinery, and other stuff. Protect them by having a reliable insurance plan in place. Determine the level of coverage you get from such policies. Note that some policies may not cover natural incidents like flooding.
While insurance is important, getting insured by a reputable insurer is also vital. Here at Champagne Agency, we will make sure that your business will be protected from threats. We offer business insurance products that are customizable according to your needs. Get a free quote from us now. Call us at (734) 282-8700.
The policy owner is the person who buys and controls an insurance coverage. He or she may not be the one who’s insured. For instance, a child could own a policy on her father. The policy owner is the sole person who gets policy details from the insurer and the only one who can change who his or her beneficiary is.
The beneficiary is the person who will receive the payout of the life insurance. Note that you can name one or more beneficiary, and you can even assign a certain percentage for each of them.
The premium is the amount which you pay for insurance. It can be calculated on a monthly or annual basis. You can actually get estimates on how much your premiums may be by requesting a quote from your insurer.
Term Life Insurance
Term life insurance is a type of life policy that can last for a specified number of years. You can choose a term from 5 to 30 years.
Permanent Life Insurance
Permanent life insurance is a life policy that lasts for the whole duration of your life. It also has a cash value feature.
There are various types of permanent life insurance: whole life, variable life, universal life, and variable universal life. If you want a permanent life insurance, it would be wise to talk to a financial advisor and make sure you fully understand the differences between term and permanent life insurance before buying.
Cash value is a feature of permanent life insurance wherein part of your premiums goes to an account that grows in value over time. In fact, you can make a loan against it and use the money for anything you need.
A rider is an add-on that offers additional coverage at an extra cost. Take “waiver of premium” rider, for example. With this rider, you are not required to pay for your life insurance when you become disabled and can’t work anymore.
Underwriting is the process in which insurers assess your risks of insurance and calculate your premiums. Insurers would often need additional information including medical records, prescription drug history, and driving records.
When it comes to shopping for any type of insurance, it would be wise if you know it well. Here at Champagne Agency, we are dedicated to assisting you every step of the way as you decide on your life insurance policy. We offer free insurance quotes by clicking here. Feel free to talk to one of our agents! Call us at (734) 282-8700, or visit us at our office today!