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Cusack Insurance Agency

5700 W 95th St
Oak Lawn, IL 60453

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Life Insurance FAQs

Most of the time when we think of investments, we think of savings accounts and retirement plans. But life insurance is also an important type of investment as well. At Cusack Insurance Agency, serving Oak Lawn, IL, we are here to answer your insurance questions so that you can make the best insurance choices. Keep reading to learn more about life insurance. 

Life Insurance FAQs 

How Does Life Insurance Work?

Life insurance is a type of insurance product that you pay for during the course of your life. In the event that you pass away, a life insurance benefit will be paid to your family. This benefit can be used to pay for your final expenses and/or to help your family financially. 

How Much Will Life Insurance Pay?

The amount of the benefit will vary depending on the policy you purchase. Life insurance policies come in different amounts. The amount you need will be unique to your particular family and situation. 

How Much Life Insurance Should I Purchase?

To determine how much life insurance you should purchase, you will need to sit down with an insurance representative. This professional will be able to look at the details of your family and finances to help you figure out an appropriate amount of life insurance. Remember, the amount of life insurance you purchase will depend on your family’s goals, the standard of living, and expectations for the life insurance policy. 

When Should I Buy Life Insurance?

Life is uncertain, so there is never a bad time to buy a life insurance policy and start planning for your family’s future. 

If you would like to learn more about life insurance, or any of our other insurance products, please contact us at Cusack Insurance Agency, serving Oak Lawn, IL, and the surrounding areas. We will be happy to answer your questions. 

What auto insurance is required in Illinois?

Like most other states, Illinois has insurance requirements if you want to drive in their state. This protects all motorists from an accident they may not have caused. The state lays out mandated amounts that it feels make sense and your insurance agent makes sure that you meet those requirements. At Cusack Insurance Agency in Oak Lawn, IL, we have access to more than a dozen insurance carriers, which allows us to give our customers more choices. With more options, it’s easier to find just the right policy for you. 

Auto Insurance Facts

To comply with the law in Illinois, drivers must have liability insurance in the amount of 25/50/20. This is the lowest amount you must have to comply with, but it isn’t necessarily the right amount for you. Talking to your insurance agent will allow you to have coverage that makes sense with the number of assets you have. If the injuries in the accident go above the basic amount, you could find yourself owing a lot of money. 

But other requirements don’t come from the state of Illinois. They come from the holder of your auto loan or the lease on your vehicle. They own part or all of your car, and it needs to be protected. This requires two other types of coverage, collision and comprehensive.

Collision covers damage that happens in a collision. It can be a multicar collision or a one-car collision. It can be the result of a vehicle that doesn’t stop after it hits you. Comprehensive is many other things you have no control over that can damage your vehicle. It also covers the theft of your vehicle and covers the glass. 

Give Us A Call

Contact Cusack Insurance Agency in Oak Lawn IL, with any insurance needs you may have. We are a full-service independent insurance agency. 

Four Steps for Documenting Personal Items for Home Insurance

If you have homeowner’s insurance, could you back up a claim for the items in your house? Do you have proof that you own your TV, the clothes in your closet, that antique necklace?

An inventory of your personal items is a big job, but it doesn’t have to be overwhelming. Cusack Insurance Agency, serving Oak Lawn, IL, can help with any questions you may have about this process. 

Here are four steps to success: 

1. Capture Images                                                            

Start with a video or pictures.  Record room by room, sweeping the camera slowly over all the walls, all the contents, and inside closets and drawers. Talk while you’re recording, describing things.  

If you decide on pictures instead, take at least four pictures of every room, plus the contents of closets and cabinets. Keep photos in order so it’s clear what items are in which room.   

2. Hang Onto the Details     

Keep all your receipts and big item information in one place. You’ll need makes, models, and serial numbers to replace appliances and electronics. You’ll need appraisals if you have expensive jewelry or collectibles.

3. Make the List

You also need a list of everything you own, whether you go old-school with pen and paper, make a spreadsheet, or use an app like Nest Egg or Sortly.

Fortunately, less expensive items, like hardcover books, pants, or shoes can be grouped. Record what the insurance company needs to prove you owned it, and what you need to be able to replace it.

4. Keep it Safe

Once you have your images, your list, and your backup documents like receipts, keep them together in a safe deposit box. If it’s all digital, back it up in the cloud. If it’s physical, keep copies of the property.

Sending a copy to your insurance agent is also a great idea. At Cusack Insurance Agency serving Oak Lawn, IL, we can double-check if you have enough coverage for all your personal property.

The 3 Main Benefits of Illinois Life Insurance

When you are thinking of getting Illinois life insurance, there are a lot of pros and cons going through your mind with this. You may think you don’t need it, or are too young to get it, or have a number of other policies that can cover you or dependents as you age.

At Cusack Insurance Agency, we want Oak Lawn, IL residents to have the coverage they need to feel protected during their life. We can help you to understand how the benefits of life insurance can help you make things better.

Learn more about them here.

End of Life Benefits

The main purpose of any kind of life insurance is to cover the end of life costs. This includes funeral coverage mainly, however it could mean any expense related to that. 

Death benefits can also cover hospital bills or long-term care bills that your dependents will have to pay.

This is the main reason people get life insurance so that their dependents aren’t left with those costs.

Income Replacement

When you have dependents or a beneficiary, they are dependent on you for their quality of life. Death benefits from life insurance can serve as a temporary income replacement for your dependents after you pass.
They can be used for anything from household bills to paying off credit cards, or even outstanding loans. 

Paying for Estate Taxes

There is a cost of living, and a tax for passing away. The federal estate tax is something that you worry about. Life insurance will cover those expenses.

Even if you think that passing away is a long time away for you, having life insurance will give you some peace of mind here. You’ll worry less about the responsibilities you will leave behind when you go.

Get a Quote

When you are thinking of life insurance, there is a peace of mind that comes with this decision. These are just a few of the many benefits of securing life insurance for your dependents. At Cusack Insurance Agency, we help Oak Lawn, IL residents get the life insurance they need so their dependents are covered when they need to be. Call us for a quote today.

Home insurance FAQs

If you’re new to home insurance you may have a lot of questions. Even if you aren’t new to home insurance, you may not really understand what types of coverage home insurance provides and whether or not you are required to have it. Having an independent insurance agent who you trust can make the whole home insurance process a lot easier. In Oak Lawn, IL, Cusack Insurance Agency is here to help you to get to understand what coverage you have and need on your home. 

Am I required to have home insurance?

The state of Illinois does not require that you have home insurance. However, your lender will. If you have a mortgage, you will need to carry home insurance. The lender will tell you the amount of coverage you need to have. 

Why should I have home insurance if I don’t have a mortgage?

Home insurance offers several different types of protection. It covers the physical building itself and any outbuildings on your property. It covers your content, your personal property, whether it is at home or when it is away from home with you. Home insurance provides liability protection in the event you are sued or if someone is injured while visiting your home. If your home is damaged, your loss of use insurance will help you to pay for a place to stay until you can return home. 

Does home insurance cover flooding?

If the flooding is the result of a burst pipe in your home, yes it will. If the flood is caused by surface water, no it won’t.  You need to have a dedicated flood insurance policy. 

f you live in Oak Lawn, ILCusack Insurance Agency is here to provide the information and the home insurance that you need. Stop in or give us a call. 

Partner Carriers

  • Foremost
  • Mercury
  • Progressive
  • Safeco
  • Travelers