“The information provided in this website is for illustration purposes only. Only the insurance policy itself contains complete coverage information. For premium quotes, specific coverage options, products and services, please contact us.”
“A rose is a rose is a rose,” but an umbrella isn’t always something that keeps you dry when it’s raining! To be able to breathe easily and sleep deeply, you need to make sure that you understand some of the not-so-familiar language found in Insurance Policies. That’s why KNOWING THE PROPER DEFINITIONS AND YOUR PEORIA, ARIZONA INSURANCE BROKER is an issue that you CANNOT ignore.
“There actually is a double whammy that many who have Insurance fall victim to,” Jim Bivona of Bivona Insurance Group, LLC, an Independent Insurance Agency that services the Phoenix Metro area regarding Insurance including Phoenix, Scottsdale, Glendale, and Peoria Arizona to name just a few, offered with a great deal of sincerity in his voice. “First, they neglect to review their Policies on an annual basis. Secondly, often when they do review them they just ‘skim over’ the words and terms they don’t really understand, rather than taking the time to research exactly what the Policy says!”
These terms include, but are not limited to:
- Convertible: Term Life Insurance that can be converted to Permanent Insurance. This transition can take place regardless of the Policyholder’s health at the time of said conversion.
- Accelerated Death Benefits – Some policies are written in such a manner that, under certain circumstances, some or all of the proceeds can be paid out before the death of the Insured.
- Underwriter: One who determines whether or not a prospective client should, in fact, be Insured.
- Agreed Value/Actual Value – Determines what a Policy will pay, regardless of what the Market Value actually is.
- Rider, Schedule, or Floater – The “Written Agreement” attached to a Policy that either limits or expands the Benefits.
- Binder – A Temporary Contract that provides coverage until a Permanent Policy is provided.
- Umbrella Coverage – An amount of Liability Coverage that supplements your car, home, and business Insurance. Typically, $1,000,000 is the minimum amount offered.
“Inasmuch as most people only think they know what these, and other, terms mean,” Bivona explained, “it is a good idea to review your policies with an Insurance Agent or, better yet, an Insurance Broker!”
As you can see, being aware of KNOWING THE PROPER DEFINITIONS AND YOUR PEORIA, ARIZONA INSURANCE BROKER certainly is not something you want to ignore if you ARE, in fact planning on reviewing your policies! As a result, you should contact Jim Bivona at 623-256-1000 with any questions, and he will be happy to discuss this concept with you in greater detail, and suggest some ways you may be able to improve your Insurance Coverage.
To learn more about the BIVONA INSURANCE GROUP, LLC go to www.bivonainsurance.com.
(To learn more about this issue, research “INSURANCE TERMS ”)
