Contact Us: ​(409) 945-4746
Brad Spurgeon Insurance Agency Inc.
  • Home
  • Quotes
    • Home Insurance Quote
    • Flood Insurance Quote
    • Windstorm Insurance Quote
    • Other Quotes >
      • Auto Insurance Quote
      • Business Insurance Quote
      • Life Insurance Quote
      • Condo Insurance Quote
      • Landlords Insurance Quote
      • Renters Insurance Quote
      • Boat Insurance Quote
      • Umbrella Insurance Quote
  • Service
    • Report a Claim
    • Make a Payment
    • Update Contact Info
    • Policy Changes
    • Proof of Insurance
    • Policy Review
    • Terms of Use
    • Privacy Policy
    • Contact My Carrier
    • Online Documents
    • Free Consultation
  • Insurance
    • Home Insurance
    • Flood Insurance
    • Windstorm Insurance
    • Other >
      • Auto Insurance
      • Business Insurance
      • Life Insurance
      • Condo Insurance
      • Landlords Insurance
      • Renters Insurance
      • Boat Insurance
      • Builders Risk
      • Umbrella Insurance
  • About
    • Staff Directory
    • Our Partners
    • Agency Photo Gallery
    • Insurance Carriers
    • Client Testimonials
    • Newsletter Signup
    • Careers
    • Refer a Friend
    • Blog
    • News
    • Reviews
    • Videos
  • Contact
  • Home
  • Quotes
    • Home Insurance Quote
    • Flood Insurance Quote
    • Windstorm Insurance Quote
    • Other Quotes >
      • Auto Insurance Quote
      • Business Insurance Quote
      • Life Insurance Quote
      • Condo Insurance Quote
      • Landlords Insurance Quote
      • Renters Insurance Quote
      • Boat Insurance Quote
      • Umbrella Insurance Quote
  • Service
    • Report a Claim
    • Make a Payment
    • Update Contact Info
    • Policy Changes
    • Proof of Insurance
    • Policy Review
    • Terms of Use
    • Privacy Policy
    • Contact My Carrier
    • Online Documents
    • Free Consultation
  • Insurance
    • Home Insurance
    • Flood Insurance
    • Windstorm Insurance
    • Other >
      • Auto Insurance
      • Business Insurance
      • Life Insurance
      • Condo Insurance
      • Landlords Insurance
      • Renters Insurance
      • Boat Insurance
      • Builders Risk
      • Umbrella Insurance
  • About
    • Staff Directory
    • Our Partners
    • Agency Photo Gallery
    • Insurance Carriers
    • Client Testimonials
    • Newsletter Signup
    • Careers
    • Refer a Friend
    • Blog
    • News
    • Reviews
    • Videos
  • Contact

Agency Blog

Getting Business Insurance For The Elderly: Can You Do It On Their Behalf?

3/7/2022

0 Comments

 
Picture
This is a very good question to ask. For elderly individuals who would like to go into business, it is important to protect them and their financial assets from the problems that may affect the economy in the future.

However, because of their ages, elderly applicants have a higher risk of being denied business insurance. This is where the question of taking on a policy for someone else comes in. The short answer to the question of whether or not it is possible is yes.

However, you have to remember that it is not a really simple process. There are prerequisites to insurance applications for the elderly. Once you abide by them, you will be able to get insurance for the elderly person’s business without a hitch.
​
Here are the conditions that they need to know when trying to get business insurance for the elderly in 2022.
Pay For the Policy in Case One or Both of the Insured Parties Pass Away
If you purchase insurance policies for your elderly parents, for example, chances are you will become underwritten as one of the co-owners of the policy itself. 

As long as you can pay for that policy, you can apply for business insurance on behalf of your parents.

Show the Company How They Will Benefit From Offering You Coverage
In addition to this, you also have to show your insurance company that they will benefit from the business insurance policy of your parents if you buy it for them. 

For example, if you plan to go into business with them, getting business insurance for the entire company that your parents built will be a sound decision to make.

Get Consent
You should also get consent from the ones being insured. Since you are taking out a policy for somebody else, it would be best for you to ask for their permission. This way, everything will be laid out on the table. 

You will not have difficulty communicating with the insurance company in the future if this occurs.

The Closing Statement
Once you have a great understanding of these points, you will be able to get insurance with no problem. Ensure that you read the fine print and fully understand your policy, ask questions you may have, and ensure that your elderly relatives or friends are covered.

This way, you will not regret giving them an insurance policy for their business venture in the future.

At Brad Spurgeon Insurance Agency Inc., we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (409) 945-4746 or Click Here to request a free quote. Coverage discussed in this article is not guaranteed. Please contact one of our agents to discuss your coverage and make sure your needs are covered. We are happy to help!
0 Comments



Leave a Reply.

    CONTACT US
     (409) 945-4746​ 
    1118 14th Street N
    Texas City, TX 77590
    Click Here to Email Us

    Archives

    February 2023
    January 2023
    December 2022
    November 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017
    June 2017
    May 2017
    April 2017
    March 2017
    February 2017
    January 2017
    November 2016

    Categories

    All
    Auto Insurance
    Boat Insurance
    Business Insurance
    Condo Insurance
    FAQs
    Financial
    Flood
    Flood Insurance
    Home
    Home Insurance
    Insurance
    Life Insurance
    Local
    Safety
    Umbrella Insurance
    Windstorm
    Windstorm Insurance

Navigation

Homepage
Insurance Quotes
Policy Service
Insurance Products
Contact Us
Agent Login
Review Us

Social Media

Newsletter Signup

Share This

Texas City Office

Brad Spurgeon Insurance Agency Inc.
1118 14th Street N
Texas City, TX 77590
(409) 945-4746​
Click Here to Email Us

Galveston Office

Brad Spurgeon Insurance Agency Inc.
​335 Westerly Dr
Galveston, TX 77554

(409) 877-7755​
Click Here to Email Us
Website by InsuranceSplash