Centurion Insurance Agency offers Personal and Commercial Umbrella Insurance…
Personal umbrella insurance is low-cost liability coverage that provides an extra layer of coverage beyond the limits of the liability insurance on your auto and homeowners policies. Personal umbrella insurance provides additional limits of coverage if you're sued for damages suffered by someone as a result of an accident involving your car or property, or while participating in recreational activities.
Commercial umbrella (aka excess) liability insurance is an important source of protection that supplements the limits of an insured's underlying policies such as general liability, automobile liability, and employers liability. Umbrellas also protect insured's from exclusions and gaps that exist in their primary liability insurance. Covered causes of loss that are not normally included in primary policies are subject to a self-insured retention (SIR), which is the responsibility of the insured to pay. SIRs in the amounts of $10,000 or $25,000 are common. An umbrella policy's coverage is triggered when the limits of the underlying insurance have been exhausted. Less commonly, an umbrella may also respond to a claim that is not covered by an underlying policy, but only when the loss amount exceeds the self-insured retention.
A typical commercial umbrella liability policy offers features such as worldwide coverage; personal injury coverage; blanket contractual liability protection (for both written and oral agreements); care, custody, and control coverage; non-owned aircraft liability; watercraft liability; advertisers liability; liquor law liability; XCU liability; and an extension of protection to additional insureds.
Centurion Insurance Agency offers various savings plans…
529 Plans…What is a “529 plan”?
A “529 plan” is a college savings plan (also sometimes referred to as a“qualified state tuition plan”) established pursuant to section 529 of the Internal Revenue Code.
- There are two types of 529 plans: A “prepaid tuition plan” that offers families the option to prepay tuition based on today’s costs of college tuition and provide a guarantee to keep pace with tuition inflation.
- A “savings plan” that allows families to save on a tax-free basis for college expenses; the accounts receive returns based on the account’s investment.
What expenses may be paid from 529 accounts?
Amounts in 529 plans may be spent on “qualified higher education expenses.” These include tuition, room and board, books and fees and any other expenses that students are required to pay to attend the college or university. States may further restrict the uses.
In simple terms, the 401k retirement plan is a trust in which employees are allowed to contribute money before taxes are assessed. Some employers also provide participants with matching funds to the employee's 401k account as part of their benefits package. The employee may have the option of selecting specific investment options for the money in their 401k account. Besides building retirement funds, contributing to your 401k reduces your taxable income and helps you keep more of your hard-earned money. 401ks are widely regarded as an excellent financial tool and means of building your pension for retirement.
An equity-indexed annuity is a special type of contract between you and an insurance company. During the accumulation period – when you make either a lump sum payment or a series of payments – the insurance company credits you with a return that is based on changes in an equity index, such as the S&P 500 Composite Stock Price Index. The insurance company typically guarantees a minimum return. Guaranteed minimum return rates vary. After the accumulation period, the insurance company will make periodic payments to you under the terms of your contract, unless you choose to receive your contract value in a lump sum.