Can My Girlfriend or Boyfriend Take Out Life Insurance On Me?

Here at Schaller & Thomas Family Insurance, serving the greater Peoria, AZ area, one of the questions that we are most often asked in regards to life insurance is whether a boyfriend or girlfriend can take out life insurance on their boyfriend or girlfriend. If this is a question you have, here is some information you will want to know. 

Can a Boyfriend or Girlfriend Take Out Life Insurance on the Other Person?

A boyfriend or girlfriend can take out life insurance on their boyfriend or girlfriend if they have a financial reason to do so. For example, if the parties are living together, the girlfriend may be significantly impacted without the help of her boyfriend to pay bills. Likewise, if a girlfriend is paying daycare costs for her boyfriends child so he can work, even if it isn’t her child, he has a financial reason to insure her life. As long as there is a financial reason to do so, non-married couples can take out policies on each other. 

Does the Partner Need to Authorize the Other Person To Take Out Life Insurance on Them?

If you are looking to take out a life insurance policy on your boyfriend or girlfriend, you will need them to sign off on a paper acknowledging that they are taking out a life insurance policy on you and you are allowing it. If your partner does not agree to you having a lie insurance policy on them, you will be unable to get one. 

If you are looking to take out a life insurance policy on yourself or your boyfriend or girlfriend, let Schaller & Thomas Family Insurance, serving the greater Peoria, AZ area, help you. Call us today to get an estimate. 

Not All Commercial Insurance Policies Are the Same

You likely know just how important it is to have commercial insurance for your company. However, did you realize that there can be many differences between policies from various insurance providers? This is ideal since each industry requires different types of coverage and you will want to find something that is custom-fit to your unique needs. 

Getting Commercial Insurance from Schaller & Thomas Family Insurance Is an Easy Process

It is necessary to learn as much as you can before signing on for a policy you are considering. This will save you from undergoing headaches and stress at a later time. Talk to a qualified insurance agent serving Peoria, AZ first, like a professional from Schaller & Thomas Family Insurance. 

Coverage often includes the following: liability, workers’ compensation cases, and property damage. Each of these categories can have glaring differences that you should be aware of prior to taking any big steps. 

Liability Insurance 

This type of insurance deals with injuries or property damage that has happened to third parties. It serves to protect yourself and your business if a client becomes injured on your business property. It also applies if an employee causes damage to a client’s personal property, as well as an instance of your company getting sued by a third party. It includes automobile insurance, malpractice, and insurance of errors and omission. 

Property Insurance 

This is similar in many ways to homeowner’s insurance, as it is meant to provide a safeguard for the personal or real property after vandalism or a fire in your warehouse or another space where you conduct business. There are types of property insurance that exist for certain needs, such as the following: glass, builder’s risk, boil and machinery, crime, and tenant’s insurance. 

Workers’ Compensation 

You may not want to think about it, but there is a possibility of your employees getting into accidents in the workplace. Besides the emotional side, it also presents a financial burden to the company. When you have workers’ compensation, it will almost always keep your injured employee from being sued for work-related injuries. 

Different levels of commercial insurance are required in each state. If you would like to speak to an agent to find out more about what your Peoria, AZ company needs, reach out to us today.