A Comparison of Whole Life and Term Life Insurance

The most common types of life insurance are whole life and term life insurance. They are similar in some manners, but also have several differences between the two. Learning about them can help you to make a decision on which of the two is best for your particular situation.

What is Term Life Insurance?

Term life insurance policies provide coverage for a specific term or amount of time. If you should pass away during the term, then the insurance company pays the benefits to your beneficiary. You can customize several parts of this life insurance from Benefit Insurance Services to fit your needs. The value of the death benefit is usually in increments of $50,000 and can be raised to suit your needs. The term length is anywhere from 1 year or 5 year increments up to 30 years. A level of death benefit pays out the same amount for the life of your policy. A policy is renewable so that it rises in cost as you get older, but you don’t need to re-qualify for it.  

What is Whole Life Insurance?

Whole life insurance has coverage that extends for your entire life without the need to set a term or to ever renew it. The death benefit remains the same throughout your lifetime, although you can purchase additional coverage. The premiums that you pay are consistent throughout the policy and you can pay them annually or for a period. Cash value is the amount you would receive if you surrender the policy to the insurer and receive a payout for the cash value your policy has earned. You can use this money to pay for other items. The cash value does not pay out to your beneficiary in Myrtle Beach, SC.

 Either type of life insurance policy is not perfect for all people. We understand at Benefit Insurance Services that it can be a crucial decision to make, and we are here to help you. You can visit our office in Myrtle Beach, SC or call us, so we can help you with your needs and find the life insurance policy that best fits your situation.



How Commercial Liability Insurance Can Protect You From Slip and Fall Lawsuits

When you own a business, the last thing you need is a lawsuit due to someone slipping and falling at your business. It’s tough enough looking out for all the things that need to be accomplished in the course of a day or week, without the threat that you could lose it all with one court judgment. That’s where commercial liability insurance comes into play. For the peace of mind of knowing you’re covered for slip and fall and other liability issues, ask your Benefit Insurance Services representative in Myrtle Beach, SC to go over your current policy or help you decide which one works best for your new business.

Slip and Fall Coverage

Slip and fall accidents are covered under the premises liability portion of your commercial insurance policy.  Slip and fall accidents are often seen as frivolous lawsuits, but it’s easy to overlook a potential hazard in the course of running a successful business. Whether it’s a leaky faucet that leaves a puddle of water on the restroom floor or a damp-mopped floor that causes someone to fall, accidents happen and it’s important to be prepared for them with the right insurance policy.

This coverage, much like a homeowners policy, protects you from accidents such as falls, falling objects, slips and the negligence of contractors, employees, and guests.  These claims can be filed by employees, guests, customers or anyone else who passes through your business. For construction, retail and restaurant-related businesses, commercial insurance is essential to protect your business and personal assets.

Injuries at a Business

Like homeowners coverage, most businesses have commercial property insurance which acts.  These policies cover you when the accident involved negligence.

If a customer, vendor or contractor is responsible for the accident, any lawsuit may involve those parties. Because these cases get complicated quickly, you’ll need to hire a qualified attorney to represent you. Commercial insurance usually covers your legal costs and any settlement reached in or out of court. 

To find out more about how commercial insurance can help you protect your business, contact Benefit Insurance Services today.


Will my homeowners policy cover my valuables, like my paintings and jewels?

Your home in Myrtle Beach, SC is doubtless covered by a homeowners policy, but you may be unsure what the exclusions and limitations are. At Benefit Insurance Services, we try to make sure our clients understand that the policy is really a contract, and the coverage should be explained in black and white.

It may be confusing, though, figuring out how your particular assets fit into the grand scheme of things. You have a policy limit, deductibles, and exclusions, and your policy may have slightly different details than you remember.

Possessions vs the Dwelling Itself

Your policy probably spells out how much of the physical building is covered, based on an earlier assessment. It will also detail how much of your possessions are covered, and the policy may consider one as a percentage of the total. For instance, if your limit is $100,000, 75% percent of that might be for your belongings.

Depreciation vs Replacement Cost

Not only that but your policy probably only covers the amount your valuables are worth after considering depreciation. If you want to insure your valuables for their actual replacement cost, you will need to negotiate that as part of your contract.

Item Limitations

Coverage on specific items, like jewelry, may be limited by your policy to a set amount, such as $1,000. If you want to insure specific items, you can insure them based on their actual value.

Even though you feel safe knowing that your home in Myrtle Beach, SC is protected, you may not have the coverage you need for specific valuables. If you have something particularly valuable, like a painting or jewelry, your policy probably only partially insures it. If you have any questions or would like to go over your policy with someone, call Benefit Insurance Services today and we can help make sure you get the coverage you need.

Can Maintenance Records Lower My Insurance Premiums?

Residents of Myrtle Beach, SC, typically know that they need to take care of their vehicles. If you don’t happen to be a motor head, you might be collecting a nice pile of service receipts. Hang onto them. According to Benefit Insurance Services, a good maintenance record might be able to save you money on your car insurance. Here’s how.

Indirect Effects

There are two ways that regular maintenance can lower your insurance rates regardless of policy. The first is in extending the life of your vehicle. While exceptions exist, owning a vehicle for longer typically lowers your premiums. Since payouts are based on the fair market value of the car, having the same car for longer means you’re paying on a lower value for longer.

The second source of savings is in safety. Properly maintained vehicles are typically safer than those that aren’t. Avoiding accidents is good in general, but safer vehicles also give you a better chance of extending your safe-driving record. For most policies, that amounts to more savings.

Being Direct

Passive gains are great, but maintenance records can also directly lower your premiums. Since we’re talking about specific policies, the generic disclaimer applies: savings will depend on policies and procedures of the insurer. That said, there are plenty of programs that offer savings if you can show a good maintenance record (receipts are the most common proof).

If your policy doesn’t offer you such an option, you can still ask. Contact your Benefit Insurance Services representative. They can help you look for less overt opportunities to put your receipts to good use. That will leave you with a little more cash in the pocket to make the best of your life in Myrtle Beach, SC.


How can I get a discount on my car insurance?

Nobody likes paying car insurance, and everybody likes saving money. It’s great to find out you can save money doing something you don’t really like. South Carolina only requires minimal amounts of liability coverage:

  • $25,000 for bodily injury or death per person
  • $50,000 for bodily injury or death overall
  • $25,000 for property damage.

You also need corresponding amounts of uninsured motorist coverage, in case you are in an accident with someone who doesn’t carry their own automobile insurance. Everyone driving in Myrtle Beach, SC, even visitors, is required to be insured. So you need the insurance, and Benefit Insurance Services can help you look for discounts that apply to you.

Multi-Car Discount

Insuring all your vehicles through the same company can earn you a discount.

Homeowner or Multi-Policy Discount

Many insurance companies will give you a better deal if they can get all your business. You may be able to combine other policies, like renters insurance, too.

Defensive Driver Discount

There is a special class recognized by the Department of Motor Vehicles which can get you a discount for up to 36 months after you take it.


You might be able to get a reduction on your premium if you install special equipment which makes it harder to steal your vehicle.

Bill Plan Discount

Some companies offer a discount for paying by the year, or at least 6 months at a time, instead of monthly.

For Young Drivers: Good Grades or Driver Training

You can get rewarded for hard work or for taking a driver training course.

And More

If you drive in Myrtle Beach, SC, you might as well try to save some money. Call Benefit Insurance Services and we can compare rates and help you find discounts for your auto insurance.

How Is Motorcycle Insurance Different Than Auto Insurance?

It seems pretty obvious that driving a motorcycle is very different than driving a regular vehicle, but few people realize that covering a motorcycle with insurance is also very different than covering a vehicle. Here are a few things you should know about covering a motorcycle.

Car Insurance Will Not Cover a Motorcycle

Do not assume that you will be able to cover your motorcycle under your car insurance policy. Because a motorcycle is a two-wheel vehicle instead of a four-wheel vehicle the coverage must be different. You will need to speak with an insurance agent in order to understand how to add your motorcycle to your policy. 

Passenger Rules Are Different

Passengers are automatically included in vehicle insurance, however the same does not apply to a motorcycle. It is assumed that a motorcycle will be a single passenger. However, if you want additional passengers included, then you will need to add this specifically to your insurance policy. You should talk with an insurance representative to get the details on how to do this. 

Seasonal Vs Full Time Coverage

Another big difference between motorcycle insurance and vehicle insurance is that with a regular vehicle it is assumed that you will be using the vehicle year round, therefore the coverage is for year round. However, many motorcycle owners only use their motorcycles seasonally. Because of this motorcycle owners have the option of carrying only seasonal insurance. This helps keep costs low for individuals who only use their motorcycle for some of the years. 

You should speak to an insurance agent to better understand whether you will need full-time coverage or only seasonal coverage for your motorcycle use. 

If you would like to learn more about motorcycle insurance, you can call one of our friendly staff at Benefit Insurance Services in Myrtle Beach, SC. 

Do You Really Need Condo Insurance?

Even though your Myrtle Beach, SC condo has insurance coverage through your association, you still need condo insurance to protect your individual unit. Your association insurance is designed to protect the exterior of your building and common areas, not your personal unit. With condo insurance from Benefit Insurance Services, you can protect your individual unit and personal goods against such risks as fire, storm damage, theft and more. Here’s why you need condo insurance.

Property Damage

With insurance protection, you can preserve your condo for years to come. Condo property damage insurance covers the interior of your unit to include ceilings, walls and floors. If a fire were to ravage your unit, your property damage insurance will help cover rebuilding costs. By taking precautions, you can protect your valuable investment from unforeseen disasters. 

Personal Belongings

If your condo was burglarized and expensive electronics, jewelry or artwork stolen, would you be able to replace these goods on your own? With contents insurance, your goods will be protected against theft or damage due to a break-in or other catastrophe. Contents insurance will cover such personal goods as furniture, appliances, electronics, clothes, jewelry, artwork and anything else you own. It even extends to the carpeting, cabinets, light fixtures and ceiling fans of your condo home.

With replacement coverage, your insurer will cover the cost of replacing your goods if they are stolen or suffer loss. An updated home inventory will enable you to keep track of your possessions to simplify making a claim if and when the time comes.


If you’re like most condo owners, you probably enjoy having family and friends over for special occasions or holiday parties. In the event of an accident, you could be held liable for damages. Liability insurance protects you against lawsuits by covering medical costs of visitors who are accidentally injured on your property.

For comprehensive condo insurance coverage at affordable costs, contact us at Benefit Insurance Services, Myrtle Beach, SC.


When can You File a Claim on Flood Insurance?

Even if you weren’t required by your mortgage company to purchase flood insurance for your Myrtle Beach, SC home, at Benefit Insurance Services we want to remind you of all the instances where it could protect your most valuable investment.

Hurricanes and Rainstorms

In our coastal neighborhood, the most obvious cause for flooding is the occasional hurricane and its accompanying torrential rainfall.  Even if you live miles from the ocean, small streams and gullies can overflow right into your basement. Flood insurance will help you repair the damage done to your home and get your heat and air conditioning working again.

Tidal Surge and Spring Flooding

Even if the hurricane is out to sea, we can experience a significant tidal surge. One minute you are high and dry and the next a surge of salty ocean water is flooding your garage, yard, and home. Rivers can also reach flood stage without Myrtle Beach, SC ever seeing a drop of rain. Your flood insurance will come into play in these circumstances. 

Water Main Breaks and Swimming Pool Collapse

Maybe your neighborhood is built far away from any body of water. But there are still water mains under the road–maybe in front of your home. Do you own a swimming pool?  When these types of structures fail, water appears where it has never been before. Your flood insurance will help you recover from such catastrophic damage.

What It Won’t Do

If your roof develops a leak, flood insurance will not help to repair water damage. It also does not protect you from a dishwasher or washing machine leak. The water must come from a source outside of your home.

Even if your home has avoided flood damage in the past, there is no guarantee you won’t see floods in the future. Give us a call at Benefit Insurance Services and ask how flood insurance can help to complete your home protection plan.


Why Should You Purchase Renters Insurance

If you rent a home in South Carolina, you need to buy renters insurance to protect your property. Get the help of reliable insurance agencies such as Benefit Insurance Services. They will make our insurance shopping experience easier. The agents will help you find the most appropriate one depending on your needs. The following are some of the reasons you should purchase renters insurance.


Renters insurance protects your property from theft. If you have a valuable property such as electronics, furniture, jewelry, or pieces of art, it is a good idea to purchase sufficient renters insurance. Renters insurance will compensate you for the cost of replacing your property in Myrtle Beach, SC.

Liability Coverage

Renters insurance may protect you from liability claims. If, for example, your visitors get injured in your apartment, their medical costs may be high. Renters insurance may help you to pay for the costs of their medical bills. It may also compensate you if people lose or damage their property in your apartment under circumstances that may be considered your fault.

Water Damage

If you have plumbing problems and a pipe bursts while you are not home, the water may damage our valuable property. The cost of repairing your damaged property may be high. Your landlord’s insurance may cover the structures of your apartment but it does not cover damage to your property. Renters insurance compensates you for the cost of replacing or repairing your property.

Smoke Damage

If there is a fire close to your apartment, the smoke may damage your property. It may damage your clothes and other valuable property. Renters insurance may compensate you for the cost of repairing the property. It may also compensate you for the additional costs of living when your home is under repair.

Contact Benefit Insurance Services for your renter’s insurance needs in Myrtle Beach, SC.

Don’t Get South Carolina Health Insurance Without Reading This

Private Health Insurance Options in South Carolina

Benefit Insurance Services serving Myrtle Beach, SC offers health insurance from South Carolina providers that have insurance products for individuals and families. Contact us to compare the wide variety of plans. Together we’ll find on that is right for you and your family.

Who Should Buy an Individual or Family Health Plan in South Carolina?

If you are self-employed or your employer doesn’t offer health insurance or a group plan, or if you are enrolled in a group plan but it doesn’t cover the rest of your family, then you should be in the market for an individual or family plan. Also, if your current plan is too expensive or the benefits have changed for the worse, we can help you find health insurance that fits your needs.

If you are married or have a domestic partner, with or without children, we can probably save you money or expand your health insurance coverage affordably.

One provision that South Carolina health insurance offers is the use of a lower base age for a family plan. Health insurance rates are based on the age of the youngest adult in a household. For couples with children, a family plan is almost always the way to go in terms of cost and coverage. Couples without children and with an age difference can save money by purchasing a family plan rather than two individual ones. Couples close in ages may save money by getting individual plans. Contact Benefit Insurance Services serving Myrtle Beach, SC. We can show you how to save money on your health insurance, and possibly get you better coverage too. We’re here to make sure you have the health insurance you need.