If you own your own business or your employer doesn’t offer health insurance, you might have to look into private health insurance. Under private health insurance, policyholders pay the entire premium based on the coverage they choose. Call Taake Insurance Agency in Columbia, IL for assistance selecting your health insurance policy and understanding the various options available. 

Who Needs Private Health Insurance?

If you just turned 26 and can no longer use your parents’ insurance, you might need to purchase private insurance. Those who are unemployed or self-employed also need to find their own insurance since there is no employer to turn to for benefits. The same holds true for part-time workers and new business owners who don’t have the option of an employer-based plan. Additionally, recent retirees who may not qualify for Medicaid and Medicare may also turn to the private health insurance market.

Your insurance agent can help you navigate the Health Insurance Marketplace created in 2014 under the Affordable Care Act (ACA). It’s a good idea to understand the types of private insurance available before narrowing down your best options.

Types of Private Insurance Plans Available

Here are the most common types of private insurance plans. A health maintenance organization (HMO) provides insurance coverage via a specific network of approved providers. A preferred provider organization (PPO) offers medical care to subscribers for reduced rates. An exclusive provider organization (EPO) restricts covered care to providers within a documented network — excluding exceptions for emergencies. Additionally, a short-term insurance policy lasts for a short term of up to one year. This type of coverage can ensure that you have health insurance between open enrollment periods.

Contact Us Today

If you need assistance finding and securing private health insurance, contact Taake Insurance Agency in Columbia, IL. We can set up an appointment to discuss your needs and provide options for effective insurance coverage. 

If you’re looking for life insurance, you need to decide what type you want. You have eleven different types to choose from,  and if that sounds overwhelming, then you may want to consult an agent at Taake Insurance Agency in Columbia, IL. We can help answer all your questions.

While there are about eleven types of life insurance, there are two main types that the remaining nine falls under, or what most people may consider an extension of one of the two main categories. However, we are going to take a closer look at two types of life insurance. Term and whole life are the most common forms.

Term Life Insurance

This type of policy is basic and only paid out when the policy owner dies; it is a death benefit policy. There is no cash value you can borrow against. This type of policy is purchased as a 5, 10, 15, 20, 25, and 30-year policy. The premium price does not change for the duration of the policy. If you want to renew it at the end of the policy, you must have a physical exam. This is difficult because of age and other health factors that come later in life.

Whole Life Insurance

As the name implies, the policy is good for the person’s entire lifetime. The premiums do not change as the person ages, and there is also a cash value option. People who are on a budget like the fact that the premiums do not get higher as they get older.

Life insurance is a complicated topic, and everyone should have a policy of some type. If you do not understand what you are looking at, call Taake Insurance Agency in Columbia, IL, and we will help you figure out which policy is best for you. Contact our office to get started with a quote.

Misconceptions about business insurance can make it difficult for new business owners to make good insurance choices. At Taake Insurance Agency, we’ll help separate fact from fiction concerning commercial coverage so you can obtain the protection your Columbia, IL business needs. Here are some misconceptions you should be aware of when purchasing your business policy.

Misconception: Small Businesses Don’t Really Need Insurance Protection

If you think your business assets aren’t large enough to warrant commercial coverage, think again. Commercial insurance offers extensive protection for a small business ranging from property insurance to protection for business equipment, inventory, loss of revenue, liability claims and more. If your company is struck by a major disaster, it could affect every aspect of your business, leading to devastating financial loss. By compensating you for disaster damage, commercial coverage can help you recover your losses and move on.  

Misconception: Home Businesses are Protected by Home Insurance

Your homeowner’s insurance is designed to protect your home and personal possessions, not your business. If your home business makes use of business equipment such as computers, fax machines, printer, office furniture, etc., you need commercial property insurance to protect this equipment from harm. If you receive clients in your home, commercial liability will protect you against liability claims that may arise if a client is hurt while visiting your home for business purposes.

Misconception: Personal Auto Insurance Covers Your Personal Vehicle When Used for Business Purposes

Personal auto policies protect you when using your car for personal use. If you have an accident when using your car for business, your insurer may not cover your loss. If you’re going to use your vehicle for business purposes, obtain commercial auto coverage to protect you against accidents on the job.

To learn more about the protection that commercial insurance provides, contact Taake Insurance Agency in Columbia, IL.

When Illinois residents look to obtain the proper health insurance coverage, a number of questions are bound to come up. Time of the essence when these decisions have to be made and that’s why this step by step guide is here to help.

1. Select The Marketplace

If the person in question is not going to receive health insurance from their employer, they must decide on the marketplace that they will be utilizing. Some may decide to use the state’s public marketplace and others will rely on the federal marketplace. Private exchanges and direct purchases are also considered at times like these.

2. Compare Each Plan Side By Side

No two policies are going to be exactly alike. The insured must consider their specific needs when they are in the process of choosing an insurer. The type of insurance that is chosen will go a long way towards determining the remaining steps of the process. While it can be tough for a prospective client to make sense of the alphabet soup that exists out there, this is where the assistance of professionals comes into play.

3. Discuss The Required Benefits With a Professional

Even those who consider themselves to be well versed when it comes to health insurance are not always able to find the policies that offer the benefits they need. That’s what make consultation meetings so crucial. Once you have narrowed down your options, the professionals allow you to learn everything that you need to know. Making an informed decision is as simple as scheduling a consultation and asking all of the necessary questions.

At Taake Insurance Agency in Columbia, IL, we understand the importance a proper health insurance plan. If you have any further questions about the process of selecting the right plan for your needs, be sure to visit our office in Columbia, IL or give us a call as soon as possible. 

As an unmarried person, you may feel life insurance is a luxury you can’t afford. After all, you don’t have a husband/wife or children to provide for, so why invest in life insurance coverage? Contrary to what you may think, life insurance has much to offer individuals. Here’s how you can benefit from a life policy from Taake Insurance Agency in Columbia, IL.

Leaves Your Loved Ones Debt Free 

If you were to suddenly pass away, would your loved ones be liable for debts you leave behind? Consider that student loan your parents co-signed for or business loans you took out with a business partner. Life benefits can help pay off these debts so your loved ones don’t have to assume this financial burden. 

Helps Support Aging Parents

Many young people today are helping to support their aging parents during their retirement. Life benefits can continue to provide this support after you’re gone. You can have peace of mind knowing your parents will be well cared for in the event of your early demise.

Supports a Significant Other

Perhaps you’re in a serious relationship that hasn’t yet led to marriage. You and your significant other may be living together and sharing the cost of running a household. Your unexpected demise could leave your significant other in financial straits due to being unable to pay all the bills alone. Life insurance benefits can provide the financial support your significant other needs to carry on.

Pays Your Funeral Costs

Most singles don’t plan ahead for their funeral, much less budget for funeral costs. If you have a life insurance policy, you can designate that funds be used to cover funeral expenses so your family isn’t burdened with these costs.  

For quality life insurance coverage at affordable costs, contact Taake Insurance agency in Columbia, IL.

Commercial insurance is financial protection for growing and established companies.  Whether it is a new company that is finding its footing or an established, commercial insurance keeps buildings, inventory and staff covered every day.  This allows leadership to focus on the realities of day-to-day business.  Commercial insurance is composed of several policies that cover different aspects of a business.  Policies are a combination of property, liability and workers compensation packages.  In the Columbia, IL area, the agents at Taake Insurance Agency will work with you to develop the insurance package that is best for your company.  

While each policy addresses a different part of the business, they all work in tandem.  Physical structures that the company owns are covered by property insurance.  This also protects equipment and inventory.  Liability coverage addresses several situations.  First, if the company has a storefront, it protects should a customer have an accident.  They will have the right to sue for negligence.  It will also come into use for any cases involving slander, libel or copyright infringement.  Workers compensation covers employees that are injured on the job.  Additional coverage may be added to cover special situations such as auto insurance for a corporate fleet.  

Commercial insurance is not a ‘one size fits all’ solution.  That’s why it’s important to invest a little time with your agent so that they understand your business needs.  Also, as the business grows, the policies will need to be reviewed to ensure that the company is still adequately covered.

The team at Taake Insurance Agency works with businesses throughout the Columbia, IL area.  They will answer any questions you have and get your business the coverage it deserves.  Visit the website for general information then come in to discuss your needs.  Get peace of mind that the business is protected so that you can focus on the bottom line.