Most small businesses find paying for healthcare for their employees challenging. But what if your small business could make money on its healthcare premiums?

That’s possible because of changes in the tax law and captive insurance, a way of insuring your employees.

At Taake Insurance, we advise certain companies to consider captive health insurance. If your company has:

• Healthcare premiums of $500K to $2.3M a year, and
• A five-year history of your employees filing 50 percent less in claims than your premiums and
• The cash to fund one year of premiums, then

We can help you set up your own health plan and get a recognized insurance company to administer it. Your subsidiary keeps the savings and, for up to $2.3 million a year, transfers them back to you largely tax-free.

What’s the catch?

You do need to have enough cash to fund a full year. You will need to have actual claims. The IRS looks at askance at 100% profitability. And you need to rely on professional actuaries to set your premiums. Setting premiums is not a DIY operation.

Thousands of firms across the USA self-insure. You can cooperate with other small businesses to self-insure together and make meeting capital requirements easier.

If you spend more than $2.3 million annually on healthcare premiums, Taake Insurance Agency can help you create a subsidiary that will work for you.

Since a national insurer will administer your plan, your employees will get all the same coverage as they do now. In many cases, your plan administrator may even be the company you have now.

Whether you run your business in Columbia, IL, or anywhere in the state, we can help you set up captive health insurance. Call us today to get started!

Choosing between term life and whole life insurance policies depends heavily on your financial circumstances and insurance requirements. While both options have their own strengths and weaknesses, whole life insurance often emerges as a favored choice due to its unique benefits. Contact us at Taake Insurance Agency in Columbia, IL to learn more.

No Expiry Date

One of the most appealing aspects of whole life insurance is its absence of an expiration date. Unlike term life policies that expire after a predetermined period, whole life policies provide continual coverage as long as the premiums are paid. Neither you nor the insurance company can discontinue it, which provides you with steadfast peace of mind.

Accumulating Cash Value

Another significant advantage of this policy is the cash value it accrues over time. As you continue to pay your premiums, a small portion of the insurance company’s profits from your payments contribute towards this cash value. Over the years, this value builds up, providing a financial reserve you can borrow against in an emergency.

Securing Whole Life Insurance

To learn more about whole life insurance policies and how to procure one, call Taake Insurance Agency in Columbia, IL, today.

Assess the inventory that you use at your place of business. Seek insurance coverage upgrades that protect the inventory while it is stored within your commercial property.

Risks

Inventory stored on your property could be stolen or damaged. Flooding waters, fires, criminal activities, and other risk factors should also be considered.

Before you insure the inventory, schedule an appointment to inspect your place of business. The inspection will reveal any damage within your business. Damage to structural walls, for instance, could increase the risk of a flood.

The location of your business may also help you determine how much insurance coverage you need. If your business is located within a busy area, increasing the amount of insurance your inventory is provided with will give you peace of mind.

Inventory Records

Keep track of how much inventory you keep on hand on a regular basis. Take into account any seasonal items or other special items that you will be featuring at your place of business.

The records will help you decide if you will need more insurance coverage at specific times of the year.

Security

Make sure the inventory remains secure during normal business operations. Camera equipment and other security aids can help keep the inventory protected.

Prepare a storage plan for any overstock kept onsite. Overstock should be stored in an inconspicuous area where it won’t be subjected to theft.

Contact Taake Insurance Agency for Commercial Insurance

Contact one of our Taake Insurance Agency representatives to schedule a time to sit down with them. An agent who serves the Columbia, IL, area will help you pick out coverage to protect the commercial inventory.

Health insurance is important for your physical and financial health. However, you may have questions about your health insurance policy. We provide health insurance policies at Taake Insurance Agency in Columbia, IL. 

What is Out of Network Coverage? 

Health insurers make agreements with some providers. In exchange for becoming part of the network, the provider agrees to a lower price for services. Providers that don’t have this agreement are considered out-of-network providers. 

 All health insurance policies cover in-network providers. Some policies provide some coverage for out-of-network providers, and others don’t offer any. 

Is Emergency Care Covered? 

Yes. Federal law states that health insurance plans must cover emergency care, regardless of whether the provider or hospital is in-network. 

You should also know that the insurance provider can’t charge a higher copay for out-of-network emergency care. 

How Do I Choose the Best Plan?

Several factors must be considered when buying health insurance. Your deductible, copay, coverage limits, and the services covered will vary from plan to plan. 

If you rarely go to the doctor, you may want to choose a plan with a lower premium and a higher deductible. However, a plan with a higher premium and a lower copay may be the best option if you visit the doctor regularly. 

Does Health Insurance cover Prescription Medications? 

Yes. Most health insurance policies cover prescription medications. However, which drugs are covered will vary from plan to plan. The copay for medication will vary as well. When selecting a plan, you should consider how often you need medication. If you are currently taking a medication, ask if it’s covered by the policy you are considering. 

Health Insurance at Taake Insurance Agency

If you need health insurance in Columbia, IL, contact us at Taake Insurance Agency. We offer various insurance options, including health, home, and life insurance.

At Taake Insurance Agency, we proudly serve the community of Columbia, IL, providing comprehensive personal insurance policies that ensure financial security for individuals and their families. One such vital service we provide is life insurance, which serves as a financial safety net for your loved ones during your absence. Let’s explore the process and ideal timing for securing your first life insurance policy.

Understanding Life Insurance and Its Benefits

Life Insurance, often misunderstood, is not just about covering final expenses and debts. It has a broader role in securing your family’s financial health in your absence. This flexible financial tool comes in various forms, such as term insurance and whole life or permanent insurance, each serving different needs.

When Should You Get Your First Life Insurance Policy?

The timing for securing the first life insurance policy can vary significantly among individuals. Here are a few common life stages when many people consider getting their first policy:

• Infancy: Parents or grandparents may purchase a life insurance policy for a baby or young child, ensuring their insurability in later life while also serving as a savings plan.
• Upon Graduation: A lot of individuals secure their first policy as they step into adulthood post-high school or college graduation, taking on financial responsibilities and possibly even debts.
• Marriage: Tying the knot often brings added responsibilities, including home ownership and parenthood. This is a common stage for considering life insurance to protect income and secure financial futures.
• Starting a Business: If you’re starting a business, especially with partners who play key roles, a life insurance policy can help ensure the venture’s continued success.

Get Your Life Insurance Quote Today!

Life insurance becomes surprisingly affordable when you’re young and healthy. If you haven’t established your life insurance program, let us at Taake Insurance Agency, serving Columbia, IL, assist you. After answering a few straightforward questions, you and your family will have greater peace of mind knowing that you’re financially protected.

When you are in the Columbia, IL area, you will find it is a great place to start and run a business. When building a company here, you need to get the right insurance. There are various scenarios when a business will benefit by having commercial coverage. 

Those with Significant Assets

One situation when a business will greatly benefit from having commercial insurance is when it has significant assets. Investing in assets to get a business off the ground is very common for any organization. Moving forward, many businesses will continue to rely on these assets to operate. When you have insurance, you will have support and protection for these items if you incur a covered loss, which can include damage or theft.

Those with Liability Risks

Any business today is going to take on some liability risk. This can include the risk that someone is injured by the use of your product or service or an employee is hurt while working. As these risks will always exist, insuring against them is quite important. One of the most effective ways to do this is by getting commercial insurance, which will include a provision for liability insurance to ensure you are supported. 

Building a business in the Columbia, IL, area can be an excellent option for many people. When you are trying to build a company here, you will want to know that you always have the right insurance. For those in the area, it might be a good idea to call our team at the Taake Insurance Agency. When you contact us, you will get plenty of guidance to ensure you select the right policy that meets your needs. 

Health insurance is essential for everyone because it allows you to manage your health and well-being throughout your lifetime. People who carefully select their insurance can access the products and services they need to manage their conditions or stay healthy. If you would like to learn more about health insurance options, you can trust the insurance professionals at Taake Insurance Agency, serving the residents of Columbia, IL. 

How to Select the Right Insurance Policy

Choosing the right insurance for your specific needs is essential for having access to medical care and options. The best way to determine the correct type of policy is to consider your medical history, family medical history, and any present conditions. 

For example, you’ll need regular medical care and attention from specialists if you have a health condition or disease. You’ll need to secure a policy to save on your co-payments and deductibles if you use your insurance frequently. 

In contrast, if you are a healthy individual with a low risk of developing diseases or degenerative conditions, you’ll want to save on your premiums instead. It’s also important to choose insurance that covers the care you require and allows coverage for procedures, treatments, and hospital visits that you know you’ll need in the future. 

The best way to know if you’re adequately covered is to consult with one of our licensed health insurance agents. They can help you determine which policies meet your needs and go over the terms and conditions so that you can make an informed decision. 

Find Out More Today

If you would like to learn more about the policy options we offer for health insurance or any of the other quality insurance products we offer, please get in touch with us today. At Taake Insurance Agency, we take pride in offering reliable insurance to the residents of Columbia, IL. 

Our agents at the Taake Insurance Agency serving the Columbia, IL area know how important your family and friends are to you. This is why they want to ensure that you have adequate life insurance in place when you pass away.

You do not know when it will be time for you to leave this world, and a good life insurance policy will give you the peace of mind you deserve since you will know that your loved ones will be taken care of when that day comes.

There are several different types of life insurance policies you can choose from. Listed below are the three most common types of life insurance policies.

Life Insurance Options

Term Life Insurance

This type of life insurance policy will provide coverage during a certain term. The terms are usually 10, 20, or 30 years. It is a very affordable policy but only pays a death benefit to your beneficiaries if you pass away during the term in which it is in effect.

Whole Life Insurance

This type of life insurance is part of a permanent policy that provides lifelong coverage. It is a popular choice since it also includes a cash value component that grows over time and can be borrowed against or withdrawn. This means you can pay off large bills, such as a mortgage or vehicle before you pass away, which will help lessen the load of stress on your loved ones when they are grieving since they will not have to worry about how to pay the bills.

Universal Life Insurance

Universal life insurance basically combines a death benefit with an investment account. This means that you can adjust the premium payments and death benefit over time, and the cash value has the potential to grow while being tax-deferred.

Other Types of Life Insurance Policies

Other types of life insurance policies you can choose from include variable life insurance, indexed universal life insurance, final expense insurance, and group life insurance.

Get Your Life Insurance Policy Started

Call our agents at the Taake Insurance Agency serving the Columbia, IL area today to get your life insurance policy started!

Owning your own business is probably a dream come true for you and your loved ones, which means you will want to protect it with an appropriate amount of insurance. Our agents at the Taake Insurance Agency serving the Columbia, IL area want to help you with all of your commercial business needs to protect the investment of time, energy, and money you have invested in your Illinois business.

Is Commercial Insurance Required in Illinois?

All drivers in the state of Illinois must have at least an auto liability insurance policy in place before they can legally drive a motor vehicle. This goes for your business also. This means that all vehicles owned by your business or personal vehicles that are driven for business purposes must have at least an auto liability insurance policy in place at all times.

Commercial Liability Insurance Coverage

It is very important for you to have commercial liability insurance coverage for your business and for your customers. This type of insurance is necessary to have in place in case a customer or a guest at your business is injured. This type of policy will help pay the person’s medical bills and other expenses and help you with legal fees if a lawsuit is filed against your business. Commercial liability insurance coverage will also help you out if you are involved in a libel, slander, or copyright infringement case,

Commercial Property Insurance

Commercial property insurance will come in handy if there is some sort of tragic event at your business, such as a fire, natural disaster, or vandalism. Also, if you have a business with inventory, this type of coverage will help you replace it if you lose it due to damage or theft.

Call for a Quote

To obtain a quote for a commercial insurance policy to protect your Illinois business, call upon our agents at the Taake Insurance Agency serving the Columbia, IL area today!

When it comes to cutting calories from your diet, there are plenty of easy and practical ways to do so. Here are a few from us at Taake Insurance Agency to help get you started here in the Columbia, IL area: 

1. Eat more fruits and vegetables- Fruits and vegetables are naturally low in calories and can be a great way to fill up without overloading calories. Make sure to aim for at least five servings per day! 

2. Skip sugary drinks- Sugary beverages like soda, energy drinks, and juices can add lots of extra empty calories to your day. Opt for water or unsweetened teas instead. 

3. Limit processed foods- Processed foods tend to be higher in calories than whole foods, so try to opt for these healthier options as much as possible. 

4. Watch your portion sizes- It’s important to remember that even healthy food can have too many calories if you overeat! Try using smaller plates when eating to make sure you’re not overeating. 

5. Don’t skip meals or snacks- Skipping meals or snacks forces your body into starvation mode, which can cause you to gain weight instead of lose it! Ensure you’re eating regularly throughout the day to stay full and energized while still managing your calorie intake. 

By following these simple tips, you will be well on your way toward cutting calories from your diet efficiently and sustainably! For more health tips, call us at Taake Insurance Agency today. We proudly serve the Columbia, IL area and want to help you lead a healthy life.