Unveiling the Hidden Power of Buy-Sell Agreement Life Insurance

Unveiling the Hidden Power of Buy-Sell Agreement Life Insurance!

Shield Insurance Blog | Buy-Sell Agreement Life Insurance | Start A Quote | Contact the Shield Office

Why is Buy-Sell Agreement Life Insurance Important?

Shield Insurance Agency offers TERM LIFE Insurance, ask us why we donn't recommend Whole or Universal Life Insurance

In the world of business, planning for the future is crucial. Whether you are a small business owner or part of a larger corporation, having a solid plan in place ensures that your business can continue to thrive even in the face of unexpected events. One important aspect of this planning is the buy-sell agreement, which is often accompanied by life insurance coverage. In this blog post, we will explore the importance of buy-sell agreement life insurance and how it can benefit your business.

Business Continuity and Ownership Transition

Business continuity is the ability of a company to continue its operations even after the death or departure of a key individual. This is especially important in the case of small businesses, where the loss of a business owner or partner can have a significant impact on the company’s ability to function. A buy-sell agreement, coupled with life insurance coverage, ensures that there is a plan in place to facilitate a smooth transition of ownership and maintain business continuity.

Business Planning and Succession Planning

Business planning involves creating a roadmap for the future of your company. It includes setting goals, identifying potential risks, and developing strategies to mitigate those risks. Succession planning, on the other hand, focuses specifically on the transition of ownership and leadership within the company. A buy-sell agreement with life insurance coverage is an essential component of both business planning and succession planning. It provides a clear plan for the transfer of ownership and ensures that the necessary funds are available to facilitate the buyout of a deceased or departing owner’s share.

Buy-Sell Agreement Life Insurance Benefits

A buy-sell agreement is a legally binding contract that outlines the terms and conditions for the transfer of ownership in the event of a triggering event, such as the death or departure of a business owner. It typically includes buyout provisions, which specify how the purchase price will be determined and how the funds will be obtained. Life insurance is often used to fund buy-sell agreements, as it provides the necessary liquidity to facilitate the buyout. This ensures that the remaining owners or partners can continue to operate the business without financial strain.

Financial Security and Estate Planning

Life insurance coverage within a buy-sell agreement provides financial security for both the business and the deceased owner’s family. In the event of the owner’s death, the life insurance proceeds can be used to fund the buyout, ensuring that the family receives fair compensation for their loved one’s share of the business. Additionally, the buy-sell agreement can help with estate planning by providing a clear plan for the distribution of assets and minimizing potential conflicts among family members or business partners.

Insurance Coverage and Risk Management

Life insurance coverage within a buy-sell agreement not only provides financial security but also serves as a risk management tool. It helps protect the business assets and ensures that the remaining owners or partners are not burdened with the financial responsibility of buying out the deceased owner’s share. By transferring the risk to an insurance company, the business can focus on its operations without worrying about the financial implications of a triggering event.

Tax Implications and Valuation of Business

A buy-sell agreement with life insurance coverage can also have significant tax implications. The proceeds from the life insurance policy are generally tax-free, providing a tax-efficient way to fund the buyout. Additionally, the buy-sell agreement can help establish a fair valuation of the business, ensuring that the buyout price is reasonable and avoiding potential disputes among owners or partners.

Partner and Shareholder Protection

A buy-sell agreement with life insurance coverage not only protects the business but also the individual owners or partners. It ensures that their interests are safeguarded and that they have a clear plan in place for the future. By outlining the terms and conditions for the transfer of ownership, the buy-sell agreement protects the rights of the remaining owners or partners and prevents unwanted individuals from becoming involved in the business.

Shield Insurance Agency and the Importance of Buy-Sell Agreement Life Insurance

Shield Insurance Agency represents over 40 insurance companies and can help you find the right life insurance coverage for your buy-sell agreement. With their expertise and knowledge, they can guide you through the process and ensure that your business is adequately protected. Contact Shield Insurance Agency at (616) 896-4600 for a free quote today or start the quoting process by visiting this LINK, and an agent will be in touch soon.

In conclusion, buy-sell agreement life insurance is crucial for ensuring business continuity, facilitating ownership transition, and protecting the interests of business owners and partners. It provides financial security, helps with estate planning, and minimizes potential conflicts. By working with an experienced insurance agency like Shield Insurance Agency, you can find the right coverage for your buy-sell agreement and have peace of mind knowing that your business is protected.


More Articles shared by SHield Insurance Agency

Read More
One of the most common questions people have is why it takes longer to get a business insurance quote than an auto insurance quote.

Cracking the Code: Why Auto Insurance Quotes Beat Business Insurance Quotes in Speed

Shield Insurance Blog | Business Insurance | Insurance Quotes | Start A Quote Today!

Business Insurance Quotes vs Auto Insurance Quotes

When it comes to insurance, there are many factors that can affect the time it takes to get a quote. One of the most common questions people have is why it takes longer to get a business insurance quote than an auto insurance quote. In this blog post, we will explore the reasons behind this and provide some insights into the process.

Firstly, it is important to understand that business insurance is a much more complex and specialized type of coverage compared to auto insurance. Business insurance covers a wide range of risks and liabilities that are unique to each individual business. This means that the insurance company needs to gather more information and assess a greater number of factors in order to provide an accurate quote.

One of the main reasons why it takes longer to get a business insurance quote is the level of customization required. Unlike auto insurance, which has standardized coverage options, business insurance needs to be tailored to the specific needs of each business. This means that the insurance company needs to gather detailed information about the business, such as its size, industry, location, and the specific risks it faces. This information is used to determine the appropriate coverage and limits for the business, which can take time to assess.

Insurance Quotes

Another factor that can contribute to the longer quote process for business insurance is the number of insurance companies involved. Unlike auto insurance, where there are a limited number of providers, business insurance has a much larger market. This means that there are more insurance companies to choose from, each with its own underwriting guidelines and pricing models. In order to provide the best quote for a business, the insurance company needs to shop around and compare quotes from multiple providers. This can take time, especially if the business has unique or specialized needs.

Additionally, business insurance often requires more documentation and verification compared to auto insurance. This is because businesses typically have more assets and liabilities that need to be assessed. For example, a business may need to provide financial statements, inventory lists, or proof of compliance with certain regulations. This additional paperwork can add to the time it takes to get a quote, as the insurance company needs to review and verify the information provided.

Furthermore, the complexity of business insurance policies can also contribute to the longer quote process. Business insurance policies often have more coverage options and endorsements compared to auto insurance. This means that the insurance company needs to carefully review and assess each option to ensure that the policy meets the specific needs of the business. This level of detail and customization can take time to evaluate and determine the appropriate coverage and pricing.

In conclusion, there are several reasons why it takes longer to get a business insurance quote compared to an auto insurance quote. The level of customization required, the number of insurance companies involved, the additional documentation and verification, and the complexity of the policies all contribute to the longer quote process. However, it is important to remember that the extra time and effort put into obtaining a business insurance quote is necessary to ensure that the business is adequately protected. So, if you are in need of business insurance, be patient and provide the necessary information to get the best coverage for your unique needs.

If you are looking for the best RV insurance quote, camper van insurance, or the best insurance for Motorhome Insurance near you, Shield Insurance Agency can help. With over 40 insurance companies represented, they have the expertise and resources to find the right coverage at an affordable price. Contact Shield Insurance Agency at (616) 896-4600 for a free quote today or start the quoting process by visiting this LINK and an agent will be in touch soon. Protect your family and your business with the right insurance coverage from Shield Insurance Agency.


More Blog Articles by Shield Insurance Agency

Read More
To help you better understand this complex industry, we have compiled a comprehensive list of insurance terms that you should be familiar with.

Know Your Insurance Terms for Peace of Mind

Shield Insurance Agency Blog | Insurance Terms | Start a Quote Today!

Insurance is an essential aspect of our lives, providing us with the necessary protection and peace of mind. However, navigating the world of insurance can be overwhelming, especially with the numerous terms and jargon often used. To help you better understand this complex industry, we have compiled a comprehensive list of insurance terms that you should be familiar with. Whether you are a seasoned policyholder or a newcomer to the world of insurance, this list will serve as a valuable resource.

Insurance Terms

1. Premium: The amount of money you pay to the insurance company in exchange for coverage. Premiums can be paid monthly, quarterly, or annually, depending on the policy.

2. Deductible: The amount of money you must pay out of pocket before your insurance coverage kicks in. For example, if you have a $500 deductible and file a claim for $1,000, you will pay the first $500, and the insurance company will cover the remaining $500.

3. Policy: A contract between you and the insurance company that outlines the terms and conditions of your coverage. It specifies what is covered, the limits of coverage, and any exclusions or conditions.

4. Coverage: The protection provided by an insurance policy. It can include various types, such as auto, home, health, life, and more.

5. Liability: The legal responsibility for any damages or injuries caused to others. Liability coverage is designed to protect you in case you are held responsible for an accident or injury.

6. Claim: A formal request made by the policyholder to the insurance company for compensation or reimbursement for a covered loss or damage.

7. Underwriting: The process of evaluating an applicant’s risk and determining the terms and conditions of their insurance policy. It involves assessing factors such as age, health, driving record, and more.

8. Exclusion: Specific situations or conditions that are not covered by an insurance policy. It is important to review your policy carefully to understand what is excluded from coverage.

9. Rider: An additional provision or amendment to an insurance policy that modifies or expands the coverage. Riders are often used to add specific coverage options or increase policy limits.

10. Agent: A licensed professional who represents an insurance company and helps individuals or businesses find the right insurance coverage. They can provide guidance, answer questions, and assist with the claims process.

11. Insured: The person or entity covered by an insurance policy. This can be an individual, a family, or a business.

12. Loss: The reduction in value or damage to property or assets covered by an insurance policy. It can be due to theft, accident, natural disaster, or other covered events.

13. No-claims bonus: A discount or reward given by insurance companies to policyholders who do not file any claims during a specific period. It encourages safe driving and responsible behavior.

14. Comprehensive coverage: An insurance policy that provides protection against a wide range of risks and perils, including theft, vandalism, fire, and natural disasters.

15. Grace period: The additional time given to policyholders to pay their premium after the due date without incurring a penalty or losing coverage.

16. Subrogation: The process by which an insurance company seeks reimbursement from a third party who is responsible for the loss or damage covered by the policy. It allows the insurance company to recover the amount paid to the policyholder.

17. Actuary: A professional who uses statistical data and mathematical models to assess risk and determine insurance premiums. They play a crucial role in pricing policies and ensuring the financial stability of insurance companies.

18. Umbrella policy: An additional liability insurance policy that provides coverage beyond the limits of your primary policies. It offers an extra layer of protection against high-cost claims or lawsuits.

19. Depreciation: The decrease in the value of an asset over time due to wear and tear or obsolescence. Insurance policies often take depreciation into account when determining the amount of compensation for a covered loss.

20. Endorsement: A written amendment or addition to an insurance policy that changes the terms or coverage. It can be used to add or remove coverage options, increase or decrease policy limits, or modify other policy provisions.

Understanding these insurance terms will empower you to make informed decisions when it comes to protecting yourself, your family, and your assets. Remember, insurance is not just a financial product; it is a shield that safeguards your future. If you have any questions or need assistance in finding the right insurance coverage, contact Shield Insurance Agency at (616) 896-4600 for a free quote today. You can also start the quoting process by visiting this LINK, and an agent will be in touch soon. Stay protected and enjoy peace of mind with comprehensive insurance coverage.


More Blogs by Shield Insurance Agency

Read More
Insurance 101 for Beginners

Insurance 101 for Beginners

Shield Insurance Blog | Insurance | Start a Quote Today!

What do I need to Know About Insurance?

Insurance is a crucial aspect of our lives that provides financial protection and peace of mind. Whether it’s car insurance, homeowners insurance, or any other type of insurance, understanding the basics is essential. In this blog post, we will explore the fundamental concepts of insurance, different types of insurance, and why it is important to have the right coverage.

Insurance is a contract between an individual or business and an insurance company. The individual or business pays a premium, and in return, the insurance company agrees to provide financial protection in the event of a covered loss. The purpose of insurance is to transfer the risk of potential financial loss from the insured to the insurance company.

Basic Terms and Definitions

To understand insurance better, it is essential to familiarize yourself with some basic terms and definitions. Here are a few key terms:

  • Premium: The amount of money paid to the insurance company for coverage.
  • Deductible: The amount the insured must pay out of pocket before the insurance company starts covering the loss.
  • Policy: The contract that outlines the terms and conditions of the insurance coverage.
  • Coverage: The specific protection provided by the insurance policy.
  • Claim: A request made by the insured to the insurance company for compensation for a covered loss.

Car Insurance for Beginners

Car insurance is one of the most common types of insurance that people need. It provides financial protection in case of accidents, theft, or damage to your vehicle. Here are a few things to consider when getting car insurance:

  • Liability Coverage: This coverage pays for damages and injuries you cause to others in an accident.
  • Collision Coverage: This coverage pays for damages to your vehicle in case of a collision.
  • Comprehensive Coverage: This coverage pays for damages to your vehicle caused by events other than collisions, such as theft or natural disasters.

Renters and Homeowners Coverage for Beginners

If you rent or own a home, it is crucial to have renters or homeowners insurance to protect your belongings and property. Here are a few key points to consider:

  • Renters Insurance: This type of insurance provides coverage for your personal belongings in case of theft, fire, or other covered events. It also provides liability coverage in case someone gets injured in your rented property.
  • Homeowners Insurance: This insurance covers your home and belongings against damage or loss caused by covered events. It also provides liability coverage and additional living expenses if your home becomes uninhabitable.

What other types of Insurance are there?

Apart from car insurance and homeowners/renters insurance, there are several other types of insurance that you may need depending on your circumstances. Some common types include:

  • Health Insurance: This insurance provides coverage for medical expenses and can help protect you from high healthcare costs.
  • Life Insurance: Life insurance provides financial protection to your loved ones in case of your death. It can help cover funeral expenses, pay off debts, and provide income replacement.
  • Disability Insurance: This insurance provides income replacement if you become disabled and are unable to work.
  • Umbrella Insurance: Umbrella insurance provides additional liability coverage beyond the limits of your other insurance policies. It can protect you from large lawsuits and claims.

Protection, Family, and Shield Agency

Insurance is all about protection, especially when it comes to your family and assets. Shield Insurance Agency understands the importance of having the right coverage and represents over 40 insurance companies to provide you with the best options. Whether you need car insurance, homeowners insurance, or any other type of insurance, Shield Insurance Agency can help.

Contact Shield Insurance Agency at (616) 896-4600 for a free quote today or start the quoting process by visiting this LINK, and an agent will be in touch soon. Don’t wait until it’s too late – protect yourself and your loved ones with the right insurance coverage.


Check out more blogs articles by Shiels Insurance

Read More
Boat Insurance and What You Need to Know

Boat Insurance and What You Need to Know

Shield Insurance Blog | Boat Insurance | Start A Quote Today!

When you own a boat, whether it’s a small fishing boat or a luxurious yacht, it’s important to protect your investment. Boat insurance is designed to provide coverage for different types of watercraft, and in Michigan, having boat insurance is a legal requirement. Shield Insurance Agency represents over 40 insurance companies and can help you find the right policy that suits your needs. Contact Shield Insurance Agency at (616) 896-4600 for a free quote today or start the quoting process by visiting this LINK and an agent will be in touch soon.

Michigan is known for its beautiful lakes and waterways, making it a popular destination for boating enthusiasts. However, it’s important to remember that accidents can happen, and having boat insurance can provide financial protection in case of an unfortunate event.

Boat insurance policies typically provide coverage for the following:

  1. Physical damage: Boat insurance can cover the cost of repairing or replacing your boat if it is damaged in an accident or other covered event. This includes coverage for collisions, fire, theft, and vandalism.
  2. Liability coverage: Liability coverage is essential for boat owners as it protects you if you are responsible for causing damage to someone else’s property or injuring someone while operating your boat. This coverage can help cover legal expenses and any damages awarded in a lawsuit.
  3. Medical payments coverage: Boat insurance can also provide coverage for medical expenses for you and your passengers in the event of an accident. This can help cover the cost of hospital bills, doctor visits, and other medical services.
  4. Uninsured/underinsured boater coverage: If you are involved in an accident with an uninsured or underinsured boater, this coverage can help cover your medical expenses and property damage.
  5. Personal effects coverage: Boat insurance policies can also provide coverage for personal belongings that are aboard the boat, such as fishing equipment, water skis, and other gear.

It’s important to note that boat insurance policies can vary in terms of coverage, limits, and exclusions. Therefore, it’s always a good idea to review your policy with an experienced insurance agent to ensure that you have the right amount of coverage for your specific needs.

When shopping for boat insurance in Michigan, it’s important to consider the following factors:

  1. The type and size of your boat: The type and size of your boat will impact your insurance rates. Generally, larger and more expensive boats will require higher coverage limits and will therefore have higher premiums.
  2. The value of your boat: It’s important to insure your boat for its full value to ensure that you are adequately protected in the event of a total loss. Working with an experienced insurance agent can help you determine the appropriate value of your boat.
  3. Your boating experience: Some insurance companies may offer discounts for boaters with a clean driving record and extensive boating experience. Make sure to inquire about any available discounts when shopping for boat insurance.
  4. Storage and security: Insurance companies may also consider where and how your boat is stored when determining your premiums. Having a secure storage facility or anti-theft devices installed on your boat can help lower your rates.

Michigan has specific regulations and requirements for boat insurance, and it’s important to be aware of these to avoid any penalties. In Michigan, all motorized boats must be covered by liability insurance with minimum coverage limits. Failure to comply with these regulations can result in fines and other penalties.

Boat insurance is not only a legal requirement in Michigan, but it’s also a smart investment to protect your financial well-being. Accidents can happen at any time, and the costs of repairs, medical bills, and legal expenses can be significant. Having boat insurance can provide peace of mind and help you navigate through any unforeseen circumstances.

When shopping for boat insurance in Michigan, it’s important to work with an experienced insurance agency that understands the local market and can help you find the right policy for your needs. Shield Insurance Agency represents over 40 insurance companies and can provide you with options and competitive rates. Contact Shield Insurance Agency at (616) 896-4600 for a free quote today or start the quoting process by visiting this LINK and an agent will be in touch soon. Protect your investment and enjoy your time on the water with the right boat insurance policy.


More blogs by Shield Insurance Agency

Read More
Wounded Soldiers are being enlisted to restore coral reefs of the Florida Keys, giving them a new mission and purpose.

Wounded Soldiers Help Scientists Save Coral Reefs

GoodNews Network | ByΒ Andy Corbley | Jul 28, 2023 | Wounded Soldiers | Shield Blog

β€˜A Blessing’ For Wounded Soldiers Who Help Scientists Save Coral Reefs

Wounded US Army veterans are being enlisted to restore coral reefs of the Florida Keys, giving them a new mission and purpose.

Feeling like they have no purpose is a common despair from veterans of several generations, and the work under the waves is helping combat that sense of listlessness, not to mention putting them in an environment where a lost leg is not nearly as impeding.

The work is part of a collaboration between the Mote Marine Laboratory and the non-profit Combat Wounded Veteran Challenge (CWVC).

Veteran Woulded Soldiers

For a week every year, a team of veterans comes down to help Michael Crosby β€œre-skin” coral reefs below the waves off the southern tip of Florida.

Crosby has been breeding corals of specific phenotypes that demonstrate tolerance and resilience to rising temperatures and more acidic water, representing conditions that may arise during the next 50 years as the climate changes.

Taking the nursery-raised coral down with them, this year’s work saw a team of 31 veterans seed 1,040 new corals in a reef called Higgs Head. This takes the total of such corals planted by the Mote Laboratory to over 200,000.

They dive down to first clean the dead or dying corals of algae, then use an epoxy resin to glue new, lab-grown coral fragments.

MORE GOOD CORAL NEWS:Β $25 Million Donation Launches Largest Coral Restoration Project in Hawaii to Renew 120 Miles of Reef

β€œThey have been instrumental in my recovery, helping me learn what I was going to be able to do after losing my leg,” said 41-year-old Army veteran Billy Costello. β€œIt’s great for the heart and the soul, especially when you’re around a group of veterans that have gone through very similar situations and have beat the odds and recovered in such a positive way… It is such a blessing.”

β€œThe coral planting gives the wounded, ill, or injured service member a new found sense of purpose, they get to help the environment and work as a team with other military members who have been what they have been through,” said Lt. Col. (Ret) Andrew Lourake, CWVC Vice President of Operations. β€œThe challenge, camaraderie, and knowing they are making a difference is the highlight of the year for almost all our participants.”

Click here for some more images of wounded soldiers helping the great reefs.


Recent Blogs from Shield Insurance Agency

Read More
Group Life Insurance: An Employee Benefit

Group life insurance is a valuable employee benefit.

Shield Insurance Blog | Group Life Insurance |

Group Life Insurance is a type of insurance policy that provides coverage to a group of people, typically employees of a company or members of an organization. It is a popular benefit offered by employers to their employees as part of their employee benefits package. In this blog post, we will discuss the requirement, purpose, working, advantages and disadvantages, types, and companies that offer Group Life Insurance.

What is the Requirement for Group Life Insurance?

Group Life Insurance is not mandatory, but many employers offer it as part of their employee benefits package. It is a way for employers to attract and retain employees by providing them with valuable benefits. Additionally, some states require employers to offer Group Life Insurance to their employees if they offer other types of insurance benefits.

What is the purpose of Group Life Insurance?

The purpose of Group Life Insurance is to provide financial protection to the beneficiaries of the policy in the event of the insured’s death. The beneficiaries can be the insured’s family members, dependents, or anyone else designated by the insured. The death benefit is typically a multiple of the insured’s salary, and it can be used to pay for funeral expenses, outstanding debts, and other expenses.

How Does Group Life Insurance Work?

Group Life Insurance works by pooling the risk of the insured individuals. The premiums are paid by the employer, and the coverage is provided to all eligible employees. The premiums are based on the age, gender, and health of the group, and the death benefit is based on the insured’s salary. The policy is owned by the employer, and the insured individuals are covered as long as they are employed by the company and meet the eligibility requirements.

What Are the Advantages and Disadvantages?

The advantages of Group Life Insurance are that it is affordable, easy to obtain, and provides coverage to a large group of people. It is also a valuable benefit that can help attract and retain employees. The disadvantages are that the coverage is typically limited, and it may not be enough to meet the needs of all beneficiaries. Additionally, the coverage ends when the insured leaves the company, and it may not be portable.

What Types of Companies offer Group Life Insurance?

Many companies offer Group Life Insurance, including insurance companies, brokers, and agents. Shield Insurance Agency represents over 40 insurance companies and can help you find the best policy for your needs. Contact Shield Insurance Agency at (616) 896-4600 for a free quote today or start the quoting process by visiting this LINK and an agent will be in touch soon.

What Happens to Group Life Insurance Coverage After I Retire?

Group Life Insurance coverage typically ends when the insured leaves the company. However, some policies may offer a conversion option that allows the insured to convert their Group Life Insurance policy to an individual policy. The conversion option may be available for a limited time after the insured leaves the company, and the premiums may be higher than the group rates.

What Are the Types of Group Life Insurance?

There are two types of Group Life Insurance: term life insurance and permanent life insurance. Term life insurance provides coverage for a specific period, typically one to five years, and the premiums are based on the age and health of the group. Permanent life insurance provides coverage for the insured’s lifetime, and the premiums are based on the insured’s age, gender, and health. Permanent life insurance also has a cash value component that can be used to pay for expenses or as an investment.

In conclusion, Group Life Insurance is a valuable benefit that provides financial protection to the beneficiaries of the policy in the event of the insured’s death. It is affordable, easy to obtain, and provides coverage to a large group of people. However, the coverage is typically limited, and it may not be enough to meet the needs of all beneficiaries. Shield Insurance Agency represents over 40 insurance companies and can help you find the best policy for your needs. Contact Shield Insurance Agency at (616) 896-4600 for a free quote today or start the quoting process by visiting this LINK and an agent will be in touch soon.


Check out recent blogs by Sheld Insurance

Read More
500-Pound Bear REPEATEDLY Steals Candy From Gas Station

500-Pound Bear Repeatedly Steals Candy From Gas Station

SunnySkyz.com | June 22, 2023 | 500-Pound Bear | Business Insurance

Chocolate-Obsessed 500-Pound Bear REPEATEDLY Steals Candy From Gas Station

In an unusual turn of events, a mischievous bear has been causing quite a stir in Lake Tahoe, California.

The bear’s exploits first came to light when a surveillance camera captured footage of the furry culprit stealthily entering the convenience store during the late hours of the night.

After scaring the employee off, he made his way to the candy aisle, grabbed a bag os Snickers, and took off.

But once he got a taste of chocolate, he kept coming back for more…

From CBS NEWS:

Could it be the same 500-Pound Bear doing home break-ins? Meet Hank the Tank

South Lake Tahoe, California β€” DNA evidence now shows that a 500-pound black bear the public had nicknamed “Hank the Tank” β€” blamed for breaking into dozens of homes across the Tahoe Keys area β€” may be innocent.

The state Department of Fish and Wildlife on Thursday said there were three other bears responsible for damaging more than 30 properties that were originally linked solely to Hank.

The agency will soon begin trapping bears in the South Lake Tahoe area to tag the animals and collect evidence for genetic analysis. The bears will be released in a “suitable habitat” and the agency said no trapped animals will be euthanized as part of the project.

The bears are responsible for more than 150 incident reports in the region straddling Northern California and Nevada, including a break-in at a residence in the Tahoe Keys neighborhood last week.

Fish and Wildlife has concluded that Hank may not even be responsible for any of the break-ins over the last seven months, officials said on Thursday.

“Hank is not the culprit,” Bear League Director Ann Bryant told CBS San Francisco.

“Just like they say in the murder shows — you can’t argue with DNA!” she laughed.

Click Here to Meet Hank the Tank


More Blogs by Shield Insurance Agency

Read More
Swallowed By Whale

Kayakers Swallowed By Whale Live To Tell The Tale

Shield Insurance Blog | June 8, 2023 | Swallowed By Whale | Life Insurance | Start A Quote Today

VIDEO: Humpback whale almost swallows kayakers near a California beach

The two managed to escape unscathed, briefly going underwater after capsizing before reemerging.

Julie McSorley says she learned an important lesson after she and her friend ended up in a humpback’s mouth: “Whales need their space.”

McSorley and Liz Cottriel were kayaking together in California’s San Luis Obispo Bay watching the whales feed on silverfish when one of the massive sea creatures surfaced beneath them, toppling their kayak and knocking them into the water.

Videos and photos from other kayakers and paddlers appear to show the women and their kayak being momentarily engulfed in the whale’s mouth β€” though the two friends say it all happened too fast for them to be sure.

“It’s definitely woke me up to the realization that, you know, our place is not in the feeding zone of whales,” McSorley told As It Happens host Carol Off.

“We didn’t think we were that close, but we definitely were right in the area that we shouldn’t have been β€” so I’ve learned my lesson, big time.”

Swallowed By Whale

AVILA BEACH, Calif. —Β Two whale watchers had a close encounter while kayaking off the coast of Avila Beach, California, that they will likely never forget.

Julie McSorley and Liz Cottriel were watching humpback whales on Monday when one decided to get up close and personal. A whale came up underneath them and caused them to capsize.

“I saw the big pool of fish, the big bait ball come up out of the water,” McSorley told CNN affiliate KMPH. “I saw the whale come up. I thought, ‘Oh, no! It’s too close.'”

“All of a sudden, I lifted up, and I was in the water.”

Footage from a witness nearby makes it appear as if the kayakers are being swallowed by the whale, but the two just tipped over.

“The whale was right here in my face, literally,” Cottriel told KMPH.

“I’m thinking to myself, ‘I’m gonna push. Like, I’m gonna push a whale out of the way! It was the weirdest thought. I’m thinking, ‘I’m dead. I’m dead.’ I thought it was gonna land on me. Next thing I know, I’m underwater.”

The two managed to escape unscathed, briefly going underwater after capsizing before reemerging.

Humpback whales typically feed on krill and small fish, according to the National Oceanic and Atmospheric Administration (NOAA).

The NOAA says humpback whales are popular among whale watchers as they are active on the surface and often jump out and slap the water with their pectoral fins or tails.

Read More
Term Life Insurance: Protecting Your Family with Affordable Coverage

Term Life Insurance: Protecting Your Family with Affordable Coverage

Shield Insurance Agency Blog | Term Life Insurance | Life Insurance | Start A Quote Today

As a responsible adult, you want to ensure that your family is protected in case of any unforeseen circumstances. One of the best ways to do this is by investing in a term life insurance policy. It provides a lump sum payment to your beneficiaries in case of your untimely death, ensuring that they are financially secure even in your absence. However, with so many options available in the market, it can be overwhelming to choose the best term life insurance policy for your needs. In this blog post, we will discuss the key factors to consider when selecting a term life insurance policy and how Shield Insurance Agency can help you find affordable coverage.

What is Term Life Insurance?

Term life insurance is a type of life insurance policy that provides coverage for a specific period, usually ranging from 5 to 30 years. It is a popular choice among individuals who want to ensure that their family is protected during a specific period, such as the duration of a mortgage or until their children are financially independent. Unlike permanent life insurance policies, such as whole life or universal life insurance, term life insurance policies do not accumulate cash value and are typically more affordable.

Factors to Consider When Choosing a Term Life Insurance Policy

When selecting a term life insurance policy, there are several factors to consider to ensure that you get the best coverage for your needs. These include:

  • Coverage Amount: The coverage amount should be sufficient to cover your family’s financial needs in case of your untimely death. It should take into account your outstanding debts, future expenses, and income replacement needs.
  • Term Length: The term length should align with your financial goals and needs. For instance, if you have a 30-year mortgage, you may want to consider a 30-year term life insurance policy.
  • Premiums: The premiums should be affordable and fit within your budget. It is essential to consider the long-term affordability of the policy, as premiums may increase over time.
  • Deductible: Some term life insurance policies may have a deductible, which is the amount you need to pay before the insurance coverage kicks in. It is essential to consider the deductible amount and how it may impact your financial situation.
  • Insurance Company: It is crucial to choose a reputable insurance company that has a strong financial rating and a history of paying out claims.

How Shield Insurance Agency Can Help You Find Affordable Coverage

At Shield Insurance Agency, we understand that selecting the best term life insurance policy can be overwhelming. That’s why we are here to help you find affordable coverage that meets your needs. As an independent insurance agency, we represent over 40 insurance companies, giving us access to a wide range of policies and pricing options. Our experienced agents will work with you to understand your financial goals and needs and provide you with a term life insurance quote that fits within your budget.

To get started, you can contact Shield Insurance Agency at (616) 896-4600 for a free quote today or start the quoting process by visiting this LINK, and an agent will be in touch soon. We will guide you through the process of selecting the best term life insurance policy for your needs and ensure that you have the protection your family deserves.

In conclusion, investing in a term life insurance policy is an essential step in protecting your family’s financial future. By considering the factors mentioned above and working with Shield Insurance Agency, you can find affordable coverage that meets your needs and provides you with peace of mind. Contact us today to get started on your journey toward financial security.


More featured blogs by Shield Insurance Agency

Read More