Anyone that has people that depend on them needs to have an adequate amount of life insurance. For those that are no Buena Vista, VA area, choosing the right life insurance policy is a big decision. Before being able to develop a policy, consumers first need to understand the different types of options. The two most common life insurance options today are term life and whole life insurance.

Term Life Insurance Overview

Term life insurance is a type of life insurance that provides you with a specific amount of insurance protection for a specific period of time, which typically ranges up to 30 years.  With a term life insurance policy, the beneficiary will only receive the benefit in the even that you pass away and the policy does not accumulate any cash value.  Because of this, term life insurance typically far more affordable on a monthly basis than the whole life option.  The cost of the policy will depend on many factors including the health and age of the insured and the length of the policy.

Whole Life Insurance Overview

The other common type of life insurance is whole life insurance. Whole life insurance provides you with coverage for life. The main difference between whole life and term life insurance is that with whole life your monthly payments will build a cash value over time. This cash value will continue to accumulate and could eventually be liquidated during your life. While there is an additional investment benefit for whole life insurance, the monthly payments tend to be much higher than with term Life policies.

When you are shopping for life insurance, a great place to start would be with Stonewall Grace Insurance. Stonewall Grace insurance is a leading life insurance provider that serves clients in the Buena Vista, VA area. This company will be able to help you determine what type of life insurance is best for you and start the process of helping you get covered today.

Health insurance in Virginia includes many opportunities for individuals and families. Buena Vista, VA residents who do not have access to health care under an employer plan can enroll in the private marketplace or the federal exchange. Eligible residents can apply for Medicaid and CHIP (for children). Ask your Stonewall Grace Insurance for help with your options and making final decisions on what plan works for you.

Virginia and the Affordable Care Act

The Affordable Care Act requires most Americans to purchase a health insurance plan. Buena Vista VA falls under the Virginia decision to participate in the federal marketplace for these services. When you sign up for ACA-compliant health care through the health insurance exchange, you are eligible for financial assistance, based on income that partially offsets your monthly premiums.

Only these marketplace plans are used to determine the ACA tax credits and cost-sharing subsidy available to you. However, both individuals and families can apply to the marketplace.  Your Stonewall Grace Insurance is available to assist you in the process.

SHOP (for Small Businesses)

In Buena Vista, VA, the Small Business Health Options Program (SHOP) allows employers with less than 50 full-time employees to present their associates with healthcare benefits.

Medicaid Expansion in Virginia

Virginia no longer offers expanded Medicaid to single, low-income adults. So, Buena Vista, VA residents applying for Medicaid must the more stringent requirements set by the state.

CHIP

Virginia’s Children’s Health Insurance Program (CHIP) has low-cost health insurance plans for eligible children.

Contact your Stonewall Grace Insurance agent with questions regarding health care options that meet the needs of you and your family.

Many people are opting not to get married. Weddings can be expensive and the cost of divorce and litigation can be costly if things do not work out. If you have decided to live with your partner and perhaps raise a family, but do not plan on getting married anytime in the near future or ever, you may be wondering if you can take a life insurance policy out on your partner even though you are not married. Here is some information that Stonewall Grace Insurance, serving the greater Buena Vista, VA area, thinks you should know about this topic.

Proving an Insurable Interest

If you are looking to take out a life insurance policy on anyone, you need to be able to prove that you have an insurable interest in the person. If you have kids that you support together, it is easy to prove an insurable interest. If your partner makes more than you and you rely on their money to pay the bills, you have an insurable interest. It starts to get more challenging to prove an insurable interest if you keep your money separate and are not dependent on your partner to pay living expenses or to care for children. A great insurance company can help you determine if you have an insurable interest in the other party, and if not, what changes you can make, such as setting up joint bank accounts and paying bills together, to establish this insurable interest.

If you are looking to take out a new life insurance policy on your partner, we can help. Stonewall Grace Insurance, serving the greater Buena Vista, VA area, can help you determine the right policy limits and which life insurance is best for you based on your needs and budget. Call us today to set up an appointment to sit down and review your needs and put together a policy.

Home insurance is something that many people have a difficult time really understanding fully. There are a wide range of instances in which your homeowner’s insurance can help protect the property of another person. For those in the Buena Vista, VA area the agents with Stonewall Grace Insurance can help you determine just what your policy covers.

For starters, your homeowner’s insurance helps to protect the property of other people when they are in your home. It also helps to protect things like the car of another person should it become damaged on your property as well as things like damages caused by pets to another person’s property. It may also cover the property of another person like their home should your property cause damage to it.

There are some instances in which your homeowners insurance does not cover the cost of repair to another person’s property. A good example of this would be if a tree falls from your property onto their home. Since it is what is considered an act of nature, you are not liable and their homeowner’s insurance would kick into pay for the damage.

In most cases, your homeowner’s insurance is going to work to protect the property that you own and the property of those that are in your home. For the most part, your home insurance covers far more than you might imagine and knowing what your policy covers can keep you out of trouble. For those that live in the Buena Vista, VA area, the agents with Stonewall Grace Insurance can help you to determine exactly what your policy covers. Knowing what you are covered for can help you to avoid a great deal of trouble and strife when it comes to filing claims.

When dealing with the effects of eminent domain a homeowner’s protection, it’s important to understand a little bit of how the law works. At a high level, the powerful law is constitutional. Then comes state laws and municipal codes. The next level usually is regulations. And below all the above are contractual rules and rights. A homeowner’s insurance policy is, in essence, a contract, definitely out-powered by a state power such as eminent domain.

Eminent domain in Buena Vista, VA is the power of the government to take and use property, even private property, to reuse it for public purposes. The most modern frequent instance would be making a road or highway through private property. However, the law also requires the government to reimburse a private property owner for losses due to eminent domain at market value.

So clearly if a government agency has to take a home for a project, then the homeowner can only seek market value reimbursement. A homeowner’s policy won’t provide any protection.

However, what happens when an adjacent or nearby eminent domain project damages a home but doesn’t take the property? Depending on the damage and cause, a homeowner’s insurance policy may cover and financially protect from a loss in some instances. The insurance provider would then seek recovery from the government agency by civil action.

For the most part, eminent domain situations are usually not clearcut decisions, according to Stonewall Grace Insurance. Even seemingly obvious cases end up in litigation for desired endings of either side. If in the Buena Vista, VA region and you think your area may be impacted by eminent domain, consider a consultation with Stonewall Grace Insurance. Their trained agents can provide clear, accurate answers on what kind of damages would like to be covered and protected from with a good homeowner’s insurance policy.

No one likes getting pulled over for a traffic stop, but it is one of the easiest ways for law enforcement to keep an eye on the community, do their job enforcing laws, and catch problems before they become worse in terms of crime. So traffic stops aren’t likely to disappear or go away anytime soon. Given that fact, one of the best ways that Virginia drivers can anticipate the issue and resolve it as quickly as possible at a stop is to have one’s documentation fully in order and available to provide an officer on request.

Under Virginia state law, the following documents should always be on hand and ready to provide to a traffic officer when stopped:

• A personal driver’s license that is up to date and valid (i.e. not expired).
• A copy of the vehicle registration for the car or truck the person is actually driving at the time.
• Documentation of an approved disability placard permit if using such symbols for the purpose of driving or parking at the time.
• Proof of valid auto insurance coverage for the vehicle being driven at the time of the stop.

The above short list seems easy to keep together, but more often than not people find themselves missing something at the time of a stop. If that’s the case, don’t panic and don’t act jumpy or erratic. Simply explain to the officer you thought you had the paperwork and it was left at home. Try to remember as much as possible which insurance company or your driver’s license number if those are missing. They can be looked up by the officer based on the information provided. You may still get a ticket for not having the paperwork on hand, but you won’t get arrested if valid. For those in Buena Vista, VA your local insurance agent can help explain the details of the above.