How An Agency Like Ours Can Help You With Your Health Insurance Needs

We Are Not A Health Insurance Agency But Bye Financial Group LLC Can Help You Find the Right Plan

The lovely state of Michigan has a lot to offer its residents and quality healthcare is one of the most important things. Insurance agencies can help you with the difficult process of acquiring and enrolling into a health insurance plan.

Some are frustrated to such an extent that they go without health insurance. Let us help you help yourself. We can navigate the healthcare marketplace and help you select your plan if necessary. We are available to assist in any way that is deemed appropriate.

If there are pending health issues on the horizon and you feel your current level or health plan may not provide the coverage you need. An insurance agent can be the appropriate point of contact to avoid any lapses in coverage or resultant penalties. 

An authorized insurance agent will discuss your particular needs in terms of health insurance. That knowledge gives us the ability to assist you in choosing the right program to meet your needs. In general, Michigan offers the following types of health insurance: Group coverage, Individual coverage, Medicare, Medicaid,  and the Healthy Michigan Plan.     

Up and Adam 

Take a healthy stride right into the offices of Bye Financial Group LLC in Grand Ledge, MI. If you prefer to contact us by telephone our number is 517-622-5020. We are well-equipped to help you find the right health insurance plan to fit your needs. Our Insurance products also include the following: auto, home, commercial, life, motorcycle, flood, boat/watercraft, and classic car insurances. Your health is your greatest asset and we will help you protect it with the appropriate health insurance. 

Life Insurance Recommendations for 2019

At Bye Financial Group, LLC, we want you to be as protected as possible as you go into the New Year. Here are a few life insurance recommendations for 2019 to guide you. We serve Grand Ledge, MI and the surrounding areas. 

 According to reports about the Tax Cuts and Jobs Act (TCJA), many changes were made to federal tax law, and four, in particular, that will affect life insurance.

  • First is the increase in the lifetime gift tax exclusion, which means increased exclusion rates for large lifetime gifts, at least for the next several years before the act expires. It will affect existing life insurance policies because they will no longer be exposed to estate tax during the next eight years, but remember this change is temporary.
  • Second, there is a reduction in the corporate tax rate maximum, which increased the benefit of purchasing permanent insurance in some cases but generally does not affect a typical life insurance purchaser. 
  • Third, there are different regulations for life settlements which also will not affect your basic life insurance policy. 
  • Finally, there are some changes in regulations for life insurance company finances which include a change to the time period required for capitalization and amortization of policy acquisition. It has increased from 10 years to 15 years. This may end up affecting the pricing of life insurance for the clients, depending on a few factors.

These changes have a great impact on people with vast estates, corporate life insurance purchasers, and a smaller impact on people purchasing personal life insurance, although you may find a change in prices and some tax benefits to your family. Due to these changes in the TCJA it is recommended that you keep any policy you have, and upgrading or purchasing a policy now will also be beneficial to your family over the next 8 years of the change.  

If you have any questions or are ready to purchase life insurance, contact us at Bye Financial Group, LLC. We proudly serve the people of Grand Ledge, MI. 

 

What Are The Types Of Auto Insurance Available?

Bye Financial Group, LLC in Grand Ledge, MI wants you to know that almost all states require a person to purchase auto insurance per state laws. Choosing the best option that suits your needs can be a confusing task, especially if you are new to driving. States will not even allow you to register your car to obtain license plates if you do not have proof of auto insurance.  

A typical auto insurance policy, other than the minimum coverage a state may require, would include most of these types of coverage:

  • Liability –  covers bodily injury and personal property which pays for bodily injury, medical expenses, and property damage. 
  • Collision – pays for the costs to your car if your car is hit by an object or vehicle. 
  • Comprehensive – damages to your vehicle caused by Mother Nature or vandalism
  • Personal Injury Protection (PIP) – pay for medical and rehabilitation expenses, work loss, funeral costs, and replacement services.
  • Uninsured/Underinsured Motorist Coverage – provides for liability and property damage coverage for you if the damages are caused by an uninsured or underinsured motorist.

Michigan is a no-fault auto insurance state which requires the following minimum coverage independent as to who is at fault:

  • $10,000 per accident for property damage for an accident that occurs in another state.
  • $40,000 per accident in which kills or hurts several persons
  • $20,000 per person hurt or killed in an accident

In a no-fault state, the types of policies must conform to the no-fault rules in that fault is not determined. For instance, if your car is damaged or if there is a personal injury you must provide any collision and PIP coverage to protect yourself and cannot look to the other driver to pay, even if that driver was at-fault.

The agents of Bye Financial Group, LLC in Grand Ledge, MI are experts in auto insurance.  Please call for more information and to learn how to get a quote! 

 

How Can Commercial Insurance Help Injured Employees?

Injured employees pose a serious risk for both the employee and the employer. For those employers that have dealt with employee injury on site or in the workplace, a commercial policy may be the best way to insure that you are safe and that your employees are safe as well. For those that live in the Grand Ledge, MI area, the agents that work at Bye Financial Group, LLC can help you to find the policy that protects you and your workers.

Workers Compensation

One of the most significant issues that an employer can deal with is the injury of an employee. Without some insurance coverage, there is no way that you can help the employee without using your own money to pay for the medical bills and the time off work. A commercial policy can help those that have injured employees in a few different ways. It can first and foremost help to pay the medical bills of the injured person and can help pay for time off work as well. If the employee decides to sue the store or workplace, it can also help pay to settle the issue and help to pay for any legal fees that are associated with resolving the case.

It can also help to protect your business. Rather than the employee being able to sue the business itself, they will be able to get compensation from the insurance policy so that you can then continue working and can prevent the shut down of the business while the issue with the employee is handled. For those that live in the area of Grand Ledge, MI, the agents at Bye Financial Group, LLC can help you find the perfect insurance policy so that you can be sure both you and your employees are protected.

Should You Get Home Insurance Even if You Aren’t Required to?

A common question that many new homeowners in Grand Ledge, MI have is if they should get home insurance even if it is not a requirement by the lender for a mortgage. It is not a requirement by the state which is what causes this issue. However, home insurance is a great thing to have according to Bye Financial Group, LLC. These are just a few reasons why you should always have it in place, even if you are not required to. 

  • It is your most significant investment – For most people, their home is the biggest investment they will ever make. They likely cost a lot of money that you had to work hard to get and invest in the home. The last thing you want is to lose it overnight and have nothing to show for all of the hard work and money you put into it. 
  • If it is lost, so is all of your investment – On the same note, if your home is lost because of an incident like a fire, all of your investment is, and you have nothing backing it up to rebuild. You will have to start back over at square one, and that could be devastating. 

With your home likely being your most significant investment, it is almost insanity to not have it covered by insurance. The last thing you want is to lose your home and everything you have put into it with no way of getting it back financially. If you are ready to get a home insurance policy, be sure to reach out to us here at Bye Financial Group, LLC, serving Grand Ledge, MI. We can help you find the right policy for your budget and your needs. 

Why is Health Insurance Required?

Health insurance is something that has been required in the United States for a few years now. Knowing why health insurance is required is just one way that you can understand the need for health insurance. For those that live in the Grand Ledge, MI area, the agents with Bye Financial Group, LLC can help you to find the health insurance that works best for you.

Health insurance is something that is required in the hopes that it will help to reduce the overall costs of health coverage and health care across the board. The idea is that if everyone has health coverage, the cost of health coverage for all will decrease as the hospitals and doctor’s offices will be able to rely on the health insurance to cover their costs rather than having to incorporate them into the overall cost of procedures for everyone. Having health insurance helps to cut the cost greatly and can help you to cut your own costs so that you are not having to pay out of pocket for all your healthcare needs.

Though it is required to have health insurance, it is also a very important thing to have in case of emergencies. It is important to have health insurance so that if something were to happen, you would not be put into financial strain by trying to cover the costs of the bills. Health insurance is something that can help cut the cost of your healthcare dramatically and offers many advantages including annual check-ups, pharmaceutical coverage, and much more.

For those that live in the Grand Ledge, MI area, the agents of Bye Financial Group, LLC can help you to find the coverage you need so that you can be healthy, happy, and in compliance with federal law. Reach out to our offices to learn more.

Is It Time To Upgrade My Life Insurance Policy?

Do you remember when you last reviewed your life insurance policy? If not, you are probably long overdue for a checkup. If you or your family members have experienced significant life changes since purchasing your life insurance policy, it may need to be updated to reflect those changes. If there have been no major life changes, you still may have experienced a shift in your financial goals that need to be addressed. To ensure that your life insurance policy meets your family’s security and financial needs, it’s a good idea to contact your Bye Financial Group, LLC agent to review your policy yearly to make the necessary adjustments.  

When Should I Update My Life Insurance Policy? 

There are many compelling reasons you might want to consider adjusting your current life insurance. Here are just some of the more important life changes that call for a re-assessment of your coverage.  

  • You have recently gotten married or divorced 
  • You have a new baby or other dependents 
  • You are planning to retire 
  • You have purchased a new Michigan home 
  • You have experienced a change in salary or employment 
  • Your children have moved out of the home 
  • You started or sold a Michigan business 
  • Someone in your household needs higher education funding 
  • You have received an inheritance 
  • Your spouse or child has died 

If any of the above life changes apply to your personal circumstances, it is time to look over your life insurance policy and make needed upgrades. Every person and family has different needs and circumstances, so every life insurance policy should be tailored to those unique situations. Making sure your policy meets your family’s security and financial goals will give you peace of mind and reassurance that everything is in perfect order. If you haven’t reviewed your life insurance policy recently, it’s time to meet with your Bye Financial Group, LLC agent and evaluate your changing needs.  

What can happen if I drive without insurance?

At Bye Financial Group, LLC, we understand how important your independence is, and how important it is for most people in Grand Ledge, MI to be able to drive. Being able to provide insurance is an important part of driving in Michigan, and there are serious legal consequences if you do not follow the law. When it comes to driving, the consequences may get worse as you go on, with the penalties getting worse as you accumulate offenses.

If you are found to be driving without insurance, you can be charged with a misdemeanor, which is punishable by up to one year in jail. You may also have your driving privileges suspended, and you could be ordered to pay fines. The court can also order a combination of all of these punishments, which seems impossible to people who have gotten caught up in the cycle as they find it difficult to get back on track. 

Even drivers who have insurance but fail to carry proof that they have insurance coverage may get a license suspension, even if they provide proof at a later time that they were covered. You can also be sued for all resulting damages if you drive a vehicle and are involved in an accident, and you can even be held liable if you lend your vehicle to someone who is uninsured and that person is involved in an accident. 

Driving with insurance is a big deal in Michigan, and you want a policy that works for your circumstances. If you are in Lansing or Grand Ledge, MI and want to make sure you are protected by the auto insurance that suits you best, call Bye Financial Group, LLC today for a free quote. If you are in a hurry, try our online rating tool to get quotes on auto and home insurance.

Commercial Insurance for a Lawn Care Business

Lawn care businesses no matter how large or how small need to be covered by a commercial insurance policy. A basic business insurance policy will protect you against any mistakes or accidental property damage caused by you or an employee to a client’s property. If you employee anyone other than just yourself, then worker’s compensation insurance is a requirement. Employers’ liability insurance will protect you from employees who could potentially sue the company over pay discrepancies or work-related accidents. This type of coverage also includes damages if an employee is injured while operating company machinery or other vehicles, and if they damage someone else’s property with that equipment or vehicle.

If you are the sole proprietor of the lawn care business and do not carry the proper insurance, then you could be held personally responsible for loss or damages. This could result in losing your business and even personal property like your home.

General liability insurance will help protect you in the event a customer files a lawsuit due to an incident on company property or while you were performing a service on their property.

Bye Financial Group, LLC in Grand Ledge, MI can help lawn care business owners assess the needs of their individual company. A knowledgeable insurance agent will discuss the types of insurance and the coverage each one provides. Beyond the basic liability coverage every lawn care business needs, there are also policies to protect against the following:

  • Theft

  • Loss of inventory

  • Identity theft protection

  • Property damage

  • Insurance for company vehicles

Stay on top of your lawn care business insurance by discussing the policy every year with Bye Financial Group, LLC in Grand Ledge, MI. This will ensure that you are covered in the event of an accident or lawsuit. Your agent can work with you to fine-tune the details of the policy and answer your questions.

What to Know About Home Renovations and Your Insurance

Home renovations mean positive changes for your house. With these changes though, comes changes in your insurance policy. Before you even start the renovation process, you should open a policy or request information about the changes you plan on making from Bye Financial Group, LLC, serving Grand Ledge, MI and the surrounding area. 

During the Renovation

It’s possible for something to get damaged during the renovation process. For instance, you might have to place your items outside in a storage container during the renovation, which makes these items susceptible to theft. You might also do damage to your property during the process. When you contact your insurance agency before the renovation, ask if your items are covered during your renovation. Keep in mind; if you can’t store them on your property, you may need a separate policy to cover them. 

Renovations Can Increase the Value of Your Home

When you make certain changes on your home, it increases the value of your property. You want to contact the insurance company to update your policy so it covers these changes, so if something should happen like a fire, you receive an adequate amount of funds to repair your home. 

Make Sure All Contractors Are Licensed, Insured, and Bonded 

A contractor who isn’t licensed isn’t able to get permits and could make a serious mistake during the renovations. Bonding helps protect you in the event the contractor makes a mistake, and if something should happen to a contractor on your property, you could be held responsible if the company isn’t insured. 

Whether you’re already a customer and upgrading your home or want a quote for a new policy before you start renovations, contact Bye Financial Group, LLC, serving Grand Ledge, MI and the surrounding area, today by calling 517-622-5020.