Educate yourself about life insurance.

Farm Insurance 101

Agriculture is the backbone of our world, providing sustenance and livelihoods for billions of people worldwide. However, farming comes with risks. Weather, damage to equipment, and injured employees are just some of the many challenges that farmers must face. This is where we can help, farm insurance offers protection and comfort to our Farmers who work tirelessly to feed the world. Farm insurance is more than just protecting your farm equipment. Farm insurance financially protects your farm in the event of a covered loss.  These policies cover your farm for a range [...]

2024-03-04T19:40:34+00:00March 4th, 2024|

Hard Market FAQ

After decades of low premiums and abundant capacity - their willingness to accept new or increased risk –  the insurance market is experiencing a hard market. This is when premiums increase, coverage terms are restricted, and competition for most types of insurance decreases; in other words, insurance is getting more expensive and harder to find. A hard market can lead to a ton of questions. Let’s look at a few and go over the answers. What is a “hard market” in insurance? A hard market means insurance companies are raising rates and restricting [...]

2024-02-06T16:43:12+00:00February 6th, 2024|

Hard Market 101

You’ve already heard about how inflation is affecting everything, including insurance premiums and claims. Rates are rising and insurance is becoming harder to get. This situation is what we in the insurance industry refer to as a “hard market.” What causes a hard market? Hard markets are caused by many factors, these can include increased underwriting loss – a loss made by an insurance company in a particular period- , increases in natural disaster claims, increased litigation costs, and increased economic challenges. All of these factors make it more expensive for insurance companies [...]

2024-02-06T16:37:43+00:00February 6th, 2024|

Golden Milestone: Celebrating 50 Years of Excellence

In the world of insurance, where trust and reliability are critical, reaching the 50-year mark is worth a celebration. Gannon Associates Insurance is proud to be celebrating their golden anniversary this year. Established in 1973 by Max Gannon, Gannon Associates Insurance has been a source of support and security for countless individuals and businesses across our area and beyond. As they commemorate half a century of unwavering dedication to their clients and commitment to insurance excellence, it is the perfect time to reflect on the journey that led to this remarkable achievement.   [...]

2023-12-22T17:43:41+00:00December 22nd, 2023|

Keep Your Life Insurance When You Retire

Do you need a life insurance policy in retirement? Some people might say no. After all, the kids are grown, and the need to financially insulate the household against catastrophe has somewhat passed. But if you're thinking about dropping your coverage for either of those reasons, you may also want to consider some excellent reasons to retain, obtain, or convert a life insurance policy after you retire. Could you make use of your policy's cash value? If you have a whole life policy, you might want to utilize that cash in response to [...]

2023-09-12T19:47:56+00:00September 12th, 2023|

Life Stages That Impact Your Life Insurance Needs

Did you know that your life insurance needs vary as your life changes? Most people understand that having life insurance is part of a responsible financial plan, but they are not aware that their needs will continue changing. Once you have found a plan that meets your needs and gives you peace of mind, it is important to reevaluate it occasionally as your life insurance needs fluctuate throughout different life stages. Consider the following five different life stages and how they can impact your life insurance needs. 1. Marriage Getting married is a [...]

2023-09-12T19:36:41+00:00September 12th, 2023|

Buy-Sell Agreements

Have you ever heard stories about family businesses ending up in the wrong hands due to a death in the family or an owner choosing to leave the industry? We have. Nothing is worse than being forced to do business with a stranger and having no way out other than an expensive buyout. So how do you avoid that? How do you prepare for changes in the ownership of your business? With a buy-sell agreement that is funded by life insurance. A buy-sell agreement is a legally binding contract between multiple owners of [...]

2022-09-01T12:03:32+00:00September 1st, 2022|

Life Insurance and Retirement

Retirement. A time that many look forward to and often seems entirely too far away. We spend a lot of time thinking about and saving for the time in our lives when we finally get to retire but have you ever considered what will happen in terms of your life insurance? The answer to that depends on your life insurance policy. If you have employer-provided life insurance, you have some decisions to make. When you retire and leave your company, that policy ends and so does its coverage. The good news is you [...]

2022-09-01T12:00:45+00:00September 1st, 2022|

Life Insurance For Minors

When we consider life insurance as adults, we often think about protecting our loved ones after we are gone. Most often we are thinking about covering our debts, paying end of life costs, and providing financial security for the loved ones you leave behind. BUT… Have you ever heard of life insurance for minors? Minor life insurance is life insurance coverage for children ages 0 to 17. It is typically offered in the form of term or whole life insurance; however, some adult policies offer a rider option. With minor life insurance, no [...]

2022-09-01T12:00:45+00:00September 1st, 2022|

Term Life Insurance 101

Term Life Insurance. What is it and how does it work? To put it simply, term life insurance is life insurance coverage that is purchased for a period of time, typically between 10 and 30 years, and if you pass during that time a cash benefit is paid out to your beneficiary. Term life insurance is usually cheaper than permanent policies and most are “level premium”, which means that your monthly premium stays the same for the entire term of the policy. However, unlike permanent policies, term policies have no cash value, no [...]

2022-09-01T12:00:45+00:00September 1st, 2022|
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