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I Have Life Insurance Through Work. Isn’t That Enough?
Our agency is happy to inform you that the auto carriers we provide coverage through have all announced discounted rates or refunds to alleviate the strain being felt across the nation due to the current Covid-19 pandemic. Below is some additional information from Erie Insurance as well as Progressive Insurance. Please contact our office should you have additional questions.
Erie Insurance:
To continue providing support and financial relief to customers impacted by the coronavirus pandemic, we announced that we will reduce rates for personal and commercial auto insurance customers in 12 states and the District of Columbia. The estimated amount of financial relief for Erie Insurance customers is approximately $200 million. Regarding a refund, ERIE’s pricing philosophy is steady and stable. A one-time refund won’t benefit our customers in the long-term. A rate reduction has staying power and impacts customers now and in the future. This also reflects our mission to provide superior protection and service at the lowest possible cost.
If you have questions about your individual policies, please reach out to your local ERIE agent.
For most inquiries related to our rate reduction announcement, visit: https://www.erieinsurance.com/support-center/covid-19
Progressive Insurance:
Subject to approval by state regulators, Progressive personal auto customers who have a policy in force as of April 30th will be credited 20% of their April premiums in May and personal auto customers with a policy in force as of May 31st will be credited 20% of their May premiums in June. We may offer additional credits in the upcoming months.
Customers will not need to take any actions to receive the benefits. The credits will be applied automatically to the customer’s policy and those customers who have paid in full will receive a payment of the credited amounts. Please be assured that this action will not affect commission payments. Customers will see it reflected in their accounts within a few weeks after month end.
We at WNC Insurance Agency hope that everyone is doing well during these trying times.
As the stimulus checks will soon be coming to individuals to aid in relief, we also wanted to be able to provide additional information regarding the government assistance programs for businesses who are facing an unprecedented economic hardship. On March 27th President Trump signed the CARES Act into effect which established several new temporary programs to help alleviate the COVID-19 outbreak economic strain.
The link provided below will take you to the US Small Business Administration's web page regarding the different funding programs.
https://www.sba.gov/funding-programs/loans/coronavirus-relief-options
According to the USDA, it costs about $250,000 to raise a child. 😳 A life insurance policy can make all the difference.
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Give Dan a call and he will be more than happy to discuss the options we have available. You would be amazed at how affordable life insurance really is!
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