The landscape of disability insurance is evolving, with new trends emerging that could impact your coverage options. At Martin Insurance Team in Evergreen Park, IL, we’re keeping an eye on these developments to help our clients stay informed and protected. Here are the top disability insurance trends to watch in 2024.

Increased Focus on Mental Health

Mental health has become a critical component of overall well-being, and disability insurance providers are starting to recognize its importance. In 2024, expect to see policies that include comprehensive coverage for mental health conditions. This shift acknowledges the growing prevalence of mental health issues and the need for support for those affected.

Flexible Coverage Options

Gone are the days of one-size-fits-all disability insurance policies. In 2024, insurers are offering more flexible coverage options that can be tailored to individual needs. This might include customizable benefit periods, elimination periods, and coverage amounts. The trend towards personalization allows policyholders to create plans that better fit their unique circumstances and financial goals.

Emphasis on Short-Term Disability

While long-term disability insurance remains important, there’s a growing emphasis on short-term disability coverage. This shift is driven by the increasing recognition that many workers may experience temporary disabilities that prevent them from working for a few weeks or months. Short-term policies can provide crucial financial support during these times, helping to bridge the gap until the individual can return to work.

Staying informed about the latest trends in disability insurance is essential for making the best decisions for your financial future. At Martin Insurance Team, we’re here to help you navigate these changes and find the right coverage for your Evergreen Park, IL needs. Contact us today to discuss how these trends might affect your insurance options.

When life goes as planned, it is easy to forget the importance and value of insurance. Fortunately, however, insurance doesn’t forget us when we need the protection and coverage that insurance can provide. That is also why people in and around the greater Evergreen Park, IL, area turn to the trusted and professional agents at the Martin Insurance Team for all their insurance questions, needs, and solutions. From the right coverage and plan to the insurance you need for your peace of mind and protection, the right insurance and insurance partner can make a difference.

The Benefits and Importance of Health Insurance if You Get Sick

We do not plan on getting sick, hurt, or becoming ill. Hopefully, it is something we prepare for, which is the first and arguably most important benefit and reason for health insurance. With the cost of health care, prescriptions, and even a single visit to the doctor, the expense of medical care can be daunting.

For many people, the cost of medical care is more than they can afford, and medical expenses can threaten the livelihood of many people and families. Fortunately, health insurance is the solution most people need to bridge the gap and, more importantly, get the care they need—and that is, without question, the greatest benefit and reason for having health insurance.

Health Insurance Solutions in Evergreen Park, IL

Do you have questions about health insurance or need health insurance coverage? At the Martin Insurance Team, we can help with all your insurance needs and help you find the right plan to protect the things you care about most. Contact us to learn more and schedule an appointment today for the coverage and insurance solutions you need and deserve at the Martin Insurance Team.  

Being a homeowner in the Evergreen Park, IL, area can be a great investment, a source of pride, and a terrific place to raise a family. However, it also has its risks. You can experience maintenance issues, be subject to fires and storms, and be held liable for injury claims that occur on the property. Martin Insurance Team is here to help you manage those risks.

One element that you should be aware of is dog ownership. Yes, owning a dog can impact your homeowner’s insurance. Here’s why.

Dogs pose a risk.

Dog ownership can raise your liability risk when you own a home. A dog bite can generate an immediate claim against you that could be costly to defend and resolve. Even if you claim your dog doesn’t bite, a barking, charging, or otherwise aggressive dog may frighten a visitor into a slip-and-fall that could be your responsibility.

Some dog breeds may be so aggressive that an insurance provider may refuse or alter coverage for homeowners.

Be honest about your pet.

Don’t be tempted to ignore your pet’s safety when it comes to homeowner’s insurance. Being less than truthful could place you at higher financial risk. The solution is to compare.

Compare home insurance rates.

Some homeowners insurance providers may be more “pet friendly” than others. If you have a dog, the Martin Insurance Team can help you insure them. We can get you a quote with which you and your pet can agree on. Contact us today for insurance in the Evergreen Park, IL, area.

If you are a homeowner, keeping your home insured is essential. If you live in the Evergreen Park, IL, area, we invite you to visit us at Martin Insurance Team. In addition to serving clients in Evergreen Park, we also serve clients in the Cape Coral, Bonita Springs, and Naples areas. 

Can Home Insurance Be Canceled?

If you have a homeowners’ insurance policy, you may wonder if it can be canceled without your permission. The insurance company can cancel your policy during the first 60 days if their review of your risk causes them concern. After 60 days, the policy can be canceled only if you fail to pay the premium. Writing a check that bounces can be considered non-payment.  

Actions After Cancelation Notice

If you are notified that your policy is canceled, the insurance company must send a notice explaining the cancellation. Policyholders then have the right to appeal the cancelation. You must prove the insurance company didn’t follow the correct procedure to win the appeal. 

Appeal to Director of Insurance

If your policy is canceled for a reason other than non-payment, you have the right to appeal to the Director of Insurance. Your appeal must be filed 20 days before the cancelation date. If the state insurance office agrees you have a right to appeal, they will notify you of a hearing date.

Call Us Today for an Appointment 

If you need new homeowner’s insurance, we can review all your options. We will take the time to listen to you and determine your insurance needs. Residents of Evergreen Park, IL, will find our experienced staff at Martin Insurance Team ready to provide you with quotes from our many top-rated insurance carriers. Give us a call today for an appointment to discuss your insurance needs.

Are you a landlord in the greater Evergreen Park, IL region looking to protect your investment properties? Understanding the risks associated with rental properties is crucial for safeguarding your financial future. Martin Insurance Team is here to shed light on the importance of landlord liability insurance and the events it protects you against.

Slip and Fall Accidents

Slip and fall accidents can happen anywhere, including your rental properties. Whether a tenant or guest injures themselves due to a slippery floor or uneven surface, landlord liability insurance covers medical expenses and potential legal fees arising from such incidents.

Property Damage

Property damage is typical in rental units, from burst pipes to electrical fires. Landlord liability insurance helps cover the costs of repairs or replacements resulting from accidental damage to your rental property caused by tenants or unforeseen events like storms or vandalism.

Legal Expenses

Legal expenses can quickly add up in the event of a lawsuit filed against you as a landlord. Landlord liability insurance offers protection by covering legal fees, court costs, and settlements arising from lawsuits related to your rental property, such as wrongful eviction or tenant discrimination claims.

Loss of Rental Income

If your rental property becomes uninhabitable due to a covered event, such as fire or water damage, you may experience a loss of rental income. Landlord liability insurance can help bridge the gap by compensating for the income you would have received during the repair or rebuilding process.

Ready to safeguard your rental properties in the greater Evergreen Park, IL, area? Contact Martin Insurance Team today to learn more about our landlord liability insurance options and receive a customized quote. 

From time to time, we all need the help and support of others. It might be for car repairs, help with technology, or insurance services, but having people we can count on makes a difference. Regardless of what you need or why you need it, reliable and professional services are always welcomed. That is also why people from the Evergreen Park, IL, area turn to the professional and friendly agents at the Martin Insurance Team when they have questions or need help with options like umbrella insurance.

Covering What Your Standard Policy Doesn’t

What if that claim or those damages exceed the limits of your policy coverage? What do you do if you have expenses to deal with that go beyond what your insurance covers? The good news is that with the right umbrella insurance coverage plan, you will never have to find out. 

Are there gaps in your coverage? Does your home or auto insurance policy provide the necessary coverage and protection? Not sure? Then, let your local agents at the Martin Insurance Team help. From looking for gaps in your coverage to helping you understand your coverage needs and options, Martin Insurance is the team Evergreen Park residents rely on for all their insurance needs and solutions.

For All Your Umbrella Insurance Solutions

Do you live in the Evergreen Park IL area? Are you seeking reliable and professional insurance solutions for your coverage needs? Then look no further than the helpful and experienced agents at the Martin Insurance Team. Contact us to find out how we can help you and your family get the coverage you need and deserve today.

A tax-free retirement account is a type of insurance policy that offers individuals tax benefits and risk protection. It is also known as a TFRA account. Do not confuse it with a 401(K) plan because it is not a qualified plan. Tax-free retirement accounts are covered under Section 7702, and their purpose is to provide tax-free income for retirement. 

How does a tax-free retirement account work?

This account is funded with after-tax dollars. This makes it similar to a Roth IRA. Policy owners deposit their money into the account and pay taxes on all contributions they make. They also do not get any tax deductions. You may wonder how much money you can put into a TFRA account. It depends on the type of your account. However, there is a yearly commitment limit. 

What are the benefits of a TFRA account?

First, it offers excellent liquidity because you can access cash value without triggering any tax penalty. Another benefit you should know about is that it helps generate additional income. The amount of income will depend on the individual investment plan. Finally, another great benefit that a TFRA account has is that it is life insurance. That means beneficiaries can collect death benefits when a policyholder passes away. 

Do you want to know more about TFRA accounts? Do not hesitate to contact Martin Insurance Team, an insurance company in Illinois serving clients in Evergreen Park, IL, and other nearby areas. Our Martin Insurance Team team will answer all your questions and provide the information you need to help you make the right decision.

Home insurance is something people tend to purchase and then not think about again for years. However, your home insurance should actually change along with your home, as well as your life.

If you’re in or near Evergreen Park, IL, the Martin Insurance Team will be happy to review your policy with you and update it. But in the meantime, here’s a quick rundown of some of the most important times to review your home insurance.

It’s Been a Year or More

Even when nothing’s changed recently, homeowners should go over their policy and review it for possible changes once a year. It’s the best way to determine whether your needs are the same and prevent winding up underinsured in an emergency.

You’ve Improved Your Home

Remodels, upgrades, and additions all increase a home’s overall value. The same goes for decisions like having your home equipped with a security system. Any upgrade in home value should trigger a review of your insurance coverage.

You’re Facing Additional Liability

Your home insurance might not be the first thing on your mind when installing a pool or finally getting your kids that dog they’ve always wanted. But it would be best if you were still prepared for the possibility that the dog might bite a visitor or someone could get hurt in your pool at your next barbecue. Updating your policy is part of that.

You’re Facing Less Liability

Some life choices actually mean less liability and more insurance-related benefits for you. For example, a person who stops smoking is less of a fire risk. So, anytime you make similar life choices, you should consider whether they correlate to your insurance.

Suppose you’re unsure whether it’s time to reassess your Evergreen Park, IL home insurance policy, call the experienced agents of Martin Insurance Team. We’ll be happy to help you make sense of it all.