Business Services

What You Need to Know About Life Insurance

Life Insurance Anderson provides financial protection for the people who depend on you. It can be used to pay off a mortgage, cover funeral costs and other final expenses, and help your family maintain their standard of living after you’re gone.

Choosing the right policy depends on your needs and priorities. Here are some things to consider:

There are a few main types of life insurance. Term life policies, which last for a fixed period of time, generally cost less and do not include a savings component like permanent policy options. Permanent policies, such as whole and universal, last a lifetime and typically have a savings element that grows with dividends. These policies can also be boosted with riders that offer additional coverage, such as accidental death benefits.

When purchasing life insurance, it’s important to consider your personal and family financial situation. You want to make sure the coverage you choose will provide your loved ones with enough money to pay off any outstanding debts and cover funeral expenses. A general rule of thumb is to purchase a life insurance policy that will cover 10 times your annual income.

Life insurance premiums are based on your age, health, family history, lifestyle and any other factors that may indicate risk, such as smoking habits or driving record. A qualified agent can help you determine what type of policy and coverage amount is right for you.

Once you’ve purchased your life insurance, it’s important to understand your policy. Read through your contract carefully to find out how the policy works, what the coverage amounts are and any other terms or conditions that apply. Also, make sure you’re clear on who the beneficiaries are. Your beneficiary is the person or entity that receives your policy payout after your death. You should name primary and contingent beneficiaries in your policy, so that the secondary beneficiary will receive a portion of the payout if the primary beneficiary dies before you.

You should also review your policy to ensure you’re getting the best value for your dollar. There are a number of ways to compare policies and prices, such as the death benefit and cash value accumulation options, premiums paid, and any riders offered by each policy.


A life insurance policy provides a lump sum payment, called the death benefit, to beneficiaries upon your death. This money can help your family pay for things like funeral expenses, debts and children’s college educations. The amount of coverage you need depends on your financial goals and other resources. You also want to consider how long you need the policy to last, which is known as the term.

There are different types of life insurance policies, including term, whole life and universal. Term policies have a fixed period of time, typically between five and 30 years, during which the death benefit remains the same and the premium is level. Whole life and universal life policies have a permanent death benefit and cash value that accumulates over time. They may have a fixed or variable interest rate. During your lifetime, you can access the cash value through loans or withdrawals. Outstanding loans, if not repaid, will reduce the death benefit and cash surrender value of the policy.

You can designate more than one beneficiary for a life insurance policy and assign them a percentage of the death benefit. Beneficiaries can be individuals, such as spouses, children or parents. You can also name an entity, such as a trust. It is important to review and update your beneficiaries regularly. This is especially important after major events such as births, deaths, remarriages and divorces.

In most cases, life insurance proceeds are not subject to taxes. However, depending on the type of policy and the size of your estate, it may be necessary to discuss taxes with an attorney or tax professional. The tax treatment of life insurance can depend on how it is paid out and who owns the policy at the time of your death. Having a separate person or entity, such as a trust own the life insurance policy can help keep the payout out of your estate and avoid paying taxes.


Typically, beneficiaries don’t pay taxes on the death benefit they receive from a life insurance policy. However, there are specific situations where the beneficiary may have to pay income tax on some or all of the death benefit.

Whole life insurance policies with cash values can accumulate tax-deferred, and you can borrow against the cash value without paying taxes (as long as you pay back the loan). However, if the policy terminates or lapses before you’ve paid back the loans, the portion of the payout that represents investment gains will be taxable.

Life insurance premiums aren’t tax deductible, but if you’re purchasing a group term life insurance policy through your employer or an association, the premiums may be tax deductible as compensation. The taxation of life insurance can get complicated. It’s important to work with your financial professional to understand how different types of life insurance are taxed.

Beneficiaries inheriting a life insurance payout don’t usually have to pay income taxes, but the amount of the death benefit that is inherited could be subject to estate or inheritance taxes depending on the size of your estate and what type of policy you have. You can reduce the risk of your loved ones having to pay estate or inheritance taxes by naming beneficiaries other than yourself, and by setting up a trust to own your life insurance.

Prudential Financial and its representatives do not provide legal or tax advice. Please consult your tax or legal advisor for individual situations. This reference guide provides general information only. Massachusetts Mutual Life Insurance Company, its subsidiaries and affiliated financial professionals do not offer legal or tax advice. This material is intended to provide general background only.


Riders are coverage add-ons that can help tailor a policy to your unique circumstances. Typically, they come at an additional cost, but they can also increase the size of a payout. Some riders provide living benefits, allowing you to access some or all of your death benefit while alive, which can be helpful in specific situations.

The types of riders available depend on the insurer and the type of life insurance policy, but some common ones include a guaranteed insurability rider (which allows you to add additional coverage to your existing permanent life policy without having to undergo medical underwriting), an accidental death rider, a waiver of premium rider, a family income benefit rider, an accelerated death benefit rider, a child term rider, and a return of premium rider. Some riders, like the disability and long-term care riders, are only offered with permanent life policies.

Some of the most useful life insurance riders are for health-related circumstances, such as a terminal illness diagnosis or the need for continuing care or long-term care services. These riders allow you to access a portion of your death benefit while you are still alive, which can be used to pay for ongoing treatment.

However, it’s important to weigh whether these kinds of riders are right for you, as they can significantly increase your life insurance premium. For this reason, it’s often best to get guidance from a financial professional who can discuss the pros and cons of each type of rider with you. They can also advise you on how much life insurance you should buy and whether any riders are worth the extra expense for your specific needs and risk factors.

Policy review

A policy review is an evaluation of an existing life insurance policy to assess its suitability, coverage, and effectiveness in meeting a client’s financial goals and objectives. It also provides the opportunity to explore cost-saving strategies and to identify any issues or shortcomings in the policy. In addition, a policy review can allow advisors to assess whether the current policy still meets a client’s needs after a significant change in their personal or financial circumstances.

For example, a policy review might be conducted after a major life event, such as a marriage or divorce, or the birth of a child. In these cases, a financial advisor may recommend that the client add coverage to ensure the continued security of their spouse or children. A policy review can also help clients stay informed about changes in estate tax laws and insurance regulations that might affect their life insurance policies.

During a policy review, an advisor will examine the current terms and conditions of a client’s life insurance policy, including its beneficiary designations, investment allocations, premium payments, and cash value growth. In addition, an advisor will evaluate alternative policies that might meet a client’s needs, such as term life policies or hybrid life insurance policies, and consider the impact of adjusting premium payments.

A key component to a successful policy review is open communication and the involvement of all stakeholders. A good process includes inviting all groups who have a stake in the outcome of a policy, such as those to whom it applies, those who will monitor it, and those who oversee its implementation. This collaboration eliminates the possibility that any policy will go through the review process without being vetted by all relevant parties and prevents problems down the road.

Business Services

Factors to Consider When Buying an HVAC System

When you’re looking for an HVAC system, there are several factors to consider. Learn about the best brands, prices, warranties and service plans. Contact Hubbard Mechanical now!

Amana’s excellent guarantee makes it stand out from the competition. Its products are also reasonably priced and energy-efficient. Amana’s ductless systems are great for homes without existing ductwork.

Temperature control is the heart of a HVAC system. Whether you have a centralized system or a more complex zoned configuration, the system relies on its temperature control systems to direct conditioned air to where it’s needed most. Modern temperature control systems use cutting-edge technology to monitor and adjust indoor temperatures, humidity, air quality, and oxygen replenishment.

The primary device that manages this is the thermostat, which may be analog or digital. Older homes may still have bimetallic strips or mercury switches, but most newer thermostats are digital and use complex calculations to determine the state of the air.

Once the thermostat determines that it needs to take action, it sends a signal to the controllers and other devices within the HVAC system. The controllers, which could be as simple as a relay board or as complex as an integrated circuit, compare the sensor signals with the set point and then perform the necessary action based on the deviation between the two values.

For example, if the sensor signal indicates that the air temperature is below the desired set point, the controller may turn on the heater. If the actual temperature rises above the set point, the controller will shut off the heater until it drops below the hysteresis (the difference between the two) and then turn the heater back on to raise the temperature to the set point.

There are many different kinds of sensors and devices that can be used to control HVAC equipment, but all are connected to the controllers using a network infrastructure that often includes CAT-5/6 Ethernet cable and RS-485 twisted pair wires. The twisted pair lines carry messages from the controllers to and from the sensors, as well as between the various types of controllers in a given system.

Some of these messages are simple ON/OFF signals and others are based on the outputs of the controllers, such as relay contacts, solid state relay (SSR) drivers, triacs, linear analog, and more. For example, a temperature controller that provides relay outputs will normally have a single-pole double-throw (SPDT) relay with a coil that’s powered by DC voltage. The contacts then connect to larger contactors that have a higher current rating to provide the heating or cooling.

The ventilation component of HVAC is what brings outside air into the building. This helps to remove stale air and replace it with fresh air. It also aids in reducing carbon dioxide levels and helps to control odors, moisture and pollutants. Ventilation can occur naturally or through mechanical systems. In older buildings, natural ventilation usually takes place when windows and doors are opened. However, modern buildings tend to be more tightly sealed and require ventilation systems that transport air through ductwork.

A typical HVAC system uses an air return that sucks in air and passes it through a filter before entering the main system. This is a good point of entry to check for dust buildup in the return and filter, and it’s a good idea to clean or change these regularly. The air then moves through ductwork to reach various living areas in the house. Ducts may be constructed of sheet metal or other materials such as fiberglass duct board and duct liner. Ducts should be properly designed, fabricated, installed and maintained to prevent condensation and mold growth.

When the evaporator coil is cooling, liquid refrigerant inside the coil absorbs heat from the air that blows over it. This heat is then transferred to the refrigerant vapor, which cools as it travels back to the compressor in the outdoor unit. The cooled refrigerant then flows through the condenser and the cycle begins again.

Ventilation systems may also include exhaust fans that can be turned on during cooking, bathing and washing to help dry and deodorize the home. It’s a good idea to use exhaust fans in rooms where excess moisture is produced, such as laundry and kitchens, and to keep these fans running for a few minutes after the activity ends to ensure proper dehumidification.

Some ventilation systems can also be fitted with filters that reduce gases and volatile organic compounds (VOCs) from the ventilation system. These systems are typically more costly and require regular maintenance to operate effectively. In general, filters with larger surface area offer greater efficiency and lower static pressure loss. This translates into fewer filter changes and less power consumption to operate the fans that circulate the filtered air.

Energy efficiency is an important factor in determining the performance and longevity of HVAC systems. It refers to the optimal operation of a system without compromising zone ventilation requirements, temperatures, humidity and differential pressures. Efficiency is impacted by the design, installation and use of equipment as well as building features and climate conditions. Experts recommend implementing demand-controlled ventilation strategies and optimizing system settings to minimize waste.

Investing in energy-efficient HVAC systems can make a significant impact on a facility’s energy consumption and carbon footprint. These systems reduce a building’s energy usage by using less fuel or electricity, while providing occupant comfort and preserving indoor air quality.

When selecting HVAC systems, look for products with an ENERGY STAR label to ensure that you’re purchasing the most efficient equipment available. This will indicate that the unit meets stringent minimum energy efficiency standards set by the U.S. Environmental Protection Agency (EPA). Additionally, you should consider SEER ratings for air conditioners and AFUE ratings for furnaces when choosing new equipment to achieve greater energy savings.

Regular maintenance and implementing best practices for HVAC use can also improve energy efficiency. For example, you should keep supply and return vents clear of obstructions to ensure proper airflow. Additionally, ductwork should be properly sealed and insulated to prevent unnecessary energy loss. Lastly, you should optimize thermostat settings to reduce wasted energy.

HVAC systems are one of the largest consumers of energy in commercial and residential buildings, and therefore should be considered a priority in any energy efficiency program. By embracing smart thermostats and other technologies that enable advanced control and optimization of energy use, you can dramatically reduce your energy consumption and cost.

Moreover, investing in an eco-friendly HVAC system can offer additional benefits beyond energy savings. By using renewable forms of energy to power the system, you can also help reduce greenhouse gas emissions and contribute to a greener future. With escalating energy costs and growing concerns over climate change, it’s more important than ever to take steps to reduce your energy consumption and carbon footprint. These simple changes can add up to a big difference in your utility bills and overall environmental impact.

HVAC systems are responsible for the comfortable air we breathe in our homes, offices and other buildings. They are life-saving systems that are not appreciated until they fail, causing discomfort or skyrocketing energy bills. Many of these problems are easily avoided with regular maintenance from a qualified professional.

A well-maintained system is less likely to break down, and it uses less energy than an inefficient system, making it easier on the environment and your wallet. Routine checkups also allow for the detection of minor issues before they become major problems, such as a dirty condenser coil that could lead to a costly AC repair or even a complete system replacement.

A typical HVAC maintenance job consists of checking the customer’s thermostat for proper operation, adding lubrication to moving parts to thwart issues with excess friction and energy consumption, and examining the physical condition of the compressor and other components. Some of these tasks may require the use of specialized equipment, depending on the type of system.

An HVAC technician’s job is a very hands-on position that requires a diverse skill set to work with various types of complex systems and high-tech equipment. On-the-job training is a common feature of this career, and the learning never stops as new innovations and technologies enter the market, such as smart and “green” technology.

When you notice an uncharacteristic drop in temperature or a strange smell coming from your vents, it’s time to call in a pro. A recurring issue like this will never resolve itself, and the longer you wait to call for help, the worse the problem will get. Just like with a root canal, it’s always better to be proactive than reactive.