Understanding the Investment Characteristics of Life Insurance

There is a mistaken idea that goes something like “nobody likes to think about life insurance because you have to die for it to be worth anything.” That is fundamentally untrue. Many types of life insurance have investment characteristics and build up value over time, which may benefit the policyholder.

Here is a brief overview of some life insurance investment characteristics to consider. Talk to your agent at Brock and Poole Insurance Agency, serving Collierville, TN and the surrounding area, to learn more about the details that are the best solutions for your particular financial circumstances.

Cash Value

Whole life insurance has level premiums for a person’s life and is meant to be owned as permanent life insurance. Over time, as a person gets older, whole life insurance builds up cash value.

Borrowing against cash value gives policyholders access to tax-free money because this is a loan, not income. Since the funds are secured by the policy value, the cost of borrowing is usually very low. This can be helpful when someone goes through a financial challenge.

If a person lives long enough and pays premiums for whole life insurance for a long time, the policy may reach a paid-up status and not require any further premium payments.

Alternatively, the cash value might be used in a tax-free exchange to create a monthly annuity payment that the policyholder gets themselves for the rest of their life. No death is required for this benefit!

Dividends and Interest

Some policies pay an annual dividend that can either be received as income each year or used to pay premiums or build up more value in the insurance. Other policies may have a built-in interest payment amount that increases the value over time.

Market Indexed

Some universal life policies use an investment strategy based on a stock market index or other investments. These policies may create extra value if the underlying investment becomes worth more and some offer protection from any risk of losing value.


There are many choices of life insurance products to consider. Contact your agent at Brock and Poole Insurance Agency in Collierville, TN to find out more about how life insurance is an important part of long-term financial planning.


Protect your warehouse with comprehensive commercial insurance

Owning a business often requires holding multiple pieces of real estate, including warehouses and other storage facilities. If your warehouse is used for storage or production it’s vital that you have adequate commercial insurance. When you opt for a comprehensive commercial insurance policy, you will gain the protection you need to keep your business up and running. Company owners in the greater Collierville, TN area rely on the team at Brock and Poole Insurance Agency to provide the expertise and guidance necessary to fully insure their businesses.

Why you need a comprehensive policy for your warehouse

Warehouses house a lot of different inventory, merchandise, equipment, and means of production that are essential for the success of your business. If you have a covered event that damages or destroys the items contained with the structure, it can cause a significant challenge for the ongoing health of your company. With a comprehensive commercial policy, you can rest assured that you have the coverage you need.

From compensation for destroyed inventory to protection during a business interruption, there are many benefits that comprehensive commercial policies provide. You can gain a lot of peace of mind by knowing that your business can weather the storm because you have the right insurance in place to protect your warehouse and all of its contents. Don’t let your bottom line or even the long-term viability of your company suffer because you don’t have the coverage you need to help your business bounce back quickly.

Are you a business owner in the greater Collierville, TN area? The team at Brock and Poole Insurance Agency is here to help you navigate the sometimes confusing process of obtaining adequate commercial insurance to protect your interests. Call or stop by today to learn more!

Does Home Insurance Coverage Change After you Pay off Your Home?

Your home is a very important part of your life and making sure that you take the time to get a policy that fits your particular situation is a must. For the most part, your home insurance is going to cover a huge range of things in regards to your home and home insurance is required if you have a loan or a mortgage on your home. For those that live in the Collierville, TN area, the agents with Brock and Poole Insurance Agency can help you to find the right policy for you.

You are only required to have a home insurance policy if you have a mortgage or other type of loan on your car. This means that if you pay off your home, you are not required to hold any sort of home insurance policy. This does not mean that it is advised that you drop your policy as soon as you pay your home off. It is always a good idea to have a home policy so that you can recover if something happens to your home. It is helpful to learn what your home policy is actually all about, your home policy is meant to be the cost of your home should you rebuild in the current market.

Your home policy is going to help you to get your home back in shape if something catastrophic happens. You do not have to have a home policy if you own your home but it is advised that you do so that if something happens, you are not going to have to pay for your home outright to help replace everything and rebuild. For those in the Collierville, TN area, the agents with Brock and Poole Insurance Agency can help you find the right policy for your home.  

How Does a Former DUI Charge Affect My Car Insurance Rate?

How a DUI affects your car insurance rate isn’t straightforward and can depend on a variety of factors. At Brock and Poole Insurance Agency, serving Collierville, TN and the surrounding area, we understand that you need auto coverage to meet your individual situation. Here’s a look at how a former DUI charge can affect your car insurance premium.

Higher Risk Means Higher Rates

If you have been convicted of a DUI, you are considered to be at a higher risk of being an unsafe driver and therefore will see a rate hike in your auto insurance. The circumstances of your DUI conviction and whether or not you were a minor can play a role in how much your auto insurance rate increases. In the state of Tennessee, the blood alcohol content for those over age 21 is .08% and for minors is .02%.

Length of Time After a DUI Affects Rates

A DUI offense stays on your criminal record for the rest of your life in the state of Tennessee. The point at which you can once again be eligible for a safe driver discount is determined on a case-by-case basis.

However, if you exhibit safe driving, your insurance rates will become less of a reflection of your former DUI with each passing year. Keep in mind that there are other factors that influence your auto insurance rate, such as your credit score. By managing your credit card payments and improving your credit, over time, you are likely to see lower car insurance premiums.

Contact Us

At Brock and Poole Insurance Agency, serving Collierville, TN and the surrounding area, we will help you find a rate to meet your needs. If you would like more information about how your DUI can affect your car insurance premium, give us a call today at 901-854-9775.

What Does My RV Insurance Policy Say About Loaning My Vehicle To Others?

Collierville, TN residents love to go out and travel the country in their recreational vehicle. At Brock and Poole Insurance Agency we stress the importance of asking the right questions at the right times. The right time to ask this question is not the Friday before the Saturday you promised your bestie that he could take the RV out for his vacation week. Certain policies stipulate that the vehicle is only covered if it is operated by the owner of the policy. If you ask your agent the question before the lend they can help you structure your policy according to your generous nature. 

Park your RV right in front of our beautiful office in Collierville, TN. The agents of Brock and Poole Insurance Agency Work diligently to answer every question you may have about your insurance policy. The time to ask is way before you hit the open road. In addition to RV insurance, we assist our clients with home insurance and auto insurance.  Serving the great states of Tennessee and Mississippi we are experts at providing the exact right insurance you need to protect your home and auto. In light of the torrential tornado season that we experience in the late spring and early summer months, we specialize in making sure you have adequate protection for your recreational vehicle as well as your motor vehicle and most importantly your home. Specialized service is something that is lacking in the marketplace today. Let us reassure you we know this area of the country, and we know how to protect you. Call us today or stop in – again take the time to ask us before the situation occurs.


What Types of Boats Need Insurance?

No matter what size your boat is, from a kayak to a multi-million dollar yacht, you want to have it properly insured. A small recreational boat, like a canoe or a kayak, may be covered by a home insurance policy under the limits for personal property when it is stored in a garage. Ask your agent to be sure. Even so, you will still need boat insurance for when it is in transport and when using it in the water.

Work with your agent at Brock and Poole Insurance Agency serving Collierville, TN, and the surrounding communities to figure out the exact coverage you need. You want to have adequate insurance for the boat, anything you carry in it, and the people using it.

Coverage for Storage, Transport, and Use

Be sure to discuss where the boat will be kept when it is not in use. There is a difference between keeping a boat moored at a dock and keeping it inside a locked garage. Also, talk about how the boat will be transported and how often it will be taken on the road.

Let your agent know the type of water the boat will be used in. Different coverage may be needed for boats used in freshwater compared to those used in the ocean. Another example is that using a kayak on a still lake is quite different from using it to go down whitewater rapids.

Replacement Cost

To have adequate insurance you need to figure out the replacement cost of the boat and for any accessories. Replacement cost is the best way to insure things because if something gets lost or damaged for a reason that is covered by the insurance, the insurance company covers the cost to buy a new one of a similar kind.

For example, imagine that you have a marine radio that would fetch only a few dollars at a garage sale. It works so there is no reason to buy a new one. It is covered with replacement cost insurance. If it gets lost or damaged you will get a new one of the same kind, even if it costs much more than the old one is worth.

Call 901-854-9775 to speak with your agent at Brock and Poole Insurance Agency in Collierville, TN to have a review of any existing boat insurance that you already have or to get a quote for a new boat insurance policy.

Essential Safety Tips for Motorcycle Riders

Riding a motorcycle has its perks and drawbacks. The fun and excitement of cruising down the highway on a motorcycle can easily be extinguished by an unforeseen accident. Safety is key to enjoying your bike for years to come.

Motorcycle insurance from Brock and Poole Insurance Agency in Collierville, TN will cover you and your bike in the event of an accident. The following safety tips can help prevent accidents or minimize the damage they cause.

Take a Motorcycle Safety Course

Whether you drive your bike in the city or on the highway, you face risks from the elements, road conditions, animals and other drivers.  A motorcycle safety course can teach you riding skills and techniques that can help you handle these risks in a safe and effective manner. You also get practice riding your bike in a controlled environment.

Inspect Your Bike

Even if it’s new, have your motorcycle inspected before city or highway riding. Check your brakes, engine, mirrors, suspension, and tires. Don’t hit the road until you get a green light from your mechanic.

Wear Safety Gear

The right safety gear can save your life in a serious accident. A protective helmet, gloves, goggles, riding boots and a sturdy jacket are among the basic gear you should buy. Your gear should coincide with your riding lifestyle and habits.

Know Your Routes for Long Distance Travels

Plan road trips carefully to avoid roads that have construction or excessive traffic as these increase your risk of an accident. Stick to posted speed limits on highways, even if there’s no one around you. Take breaks often to avoid fatigue and find a safe place to stop if you hit a patch of bad weather.

To update your motorcycle insurance coverage, contact Brock and Poole Insurance Agency in Collierville, TN.

Is Renter’s Insurance Beneficial?

Renters insurance is something that many people have little knowledge about or experience with when they should. Renters insurance can help you recover from disaster, even if the accident is not your fault but your unit and items are damaged. For those that live in the Collierville, TN area, the agents with Brock and Poole Insurance Agency can help you find the right renters policy for you.

Renters insurance is something that works to protect renters should their rental unit or property become damaged or destroyed. If you do rent, you are not eligible to have a home owner’s policy and are therefore susceptible to having to pay damages if you do not have some sort of policy in place. Without a renter’s policy, you are going to have to foot the bill to replace your items, may have to pay for damages to your landlord, and will have no help when it comes to finding another place to stay.

Renter’s policies work to help make sure you are going to be covered should your rental property become damaged or destroyed along with your personal belongings. With a renters policy you are going to be able to draw on your policy to help pay damage deposits to your landlord and are going to be able to use it to get a place to stay temporarily as well as having the money to replace the items that were either damaged or destroyed. For those that live in the Collierville, TN area, the agents with Brock and Poole Insurance Agency can help you determine if a renters policy is right for you and what type and level of coverage you need to make sure you are fully covered. A renters policy is certainly beneficial, get yours today to make sure you are covered.  

Do Renters Need Personal Umbrella Insurance?

As a renter, you may not own your home, but that won’t prevent a person from suing you if there is an unexpected event or an accident. Insurers offer personal umbrella policies for protecting you against claims of liability. Without personal umbrella insurance, your income is at risk for garnishment should a judge find you liable for any injuries or damages.  

What is Personal Umbrella Insurance?

A personal umbrella policy from Brock and Poole Insurance Agency provides liability protection that extends limitations of your property or auto insurance policies. As an example, what if you get involved in an automobile accident and found guilty for causing the injury of the other driver suing you for expensive medical costs? If your insurance cannot cover the judgment against you, a portion of your wages or business income could get garnished or your personal assets could get seized to compensate. With umbrella insurance, however, the policy could cover any legal or court expenses, besides the judgment, up to its limit. 

Before you can get personal umbrella insurance in Collierville, TN, it is mandatory to have existing renters or auto policy with specific liability limits. A personal umbrella policy can take care of any additional liability expenses, up to its policy limits, when the limits of your property or auto liability policy get exhausted. 

Who Should Get Coverage?

People in Collierville, TN who have personal assets which need protection and also individuals who enjoy risky hobbies, such as hunting or boating should consider buying coverage. However, just about anyone can benefit from purchasing umbrella insurance. Particularly, if you are a renter who would find it a challenge to manage with only a partial income, should your wages get garnished to fulfill a claim against you, a personal umbrella policy could be beneficial. 

If you need more information or have a question, you’d like an agent to answer, contact Brock and Poole Insurance Agency today.

Can I Change The Beneficiaries In My Life Insurance Policy At Any Time?

Collierville, TN residents who are looking to ensure continued protection for their loved ones will often meet with Brock and Poole Insurance Agency to find out more about their life insurance policies. One of the most common questions that are asked in these instances will have to do with the beneficiaries of the life insurance policy.

How Many Beneficiaries Can We Have?

There are two types of beneficiaries that the policyholder must choose. A primary beneficiary and contingent beneficiary are both included in the policy but there are some key differences to discuss. The primary beneficiary receives the life insurance policy’s proceeds when the person who is insured passes away.

As for the contingent beneficiary, they are also known as a secondary beneficiary. If the primary beneficiary is still alive when the policyholder passes away, the contingent beneficiary does not receive any of the proceeds.

What If I Want To Change My Beneficiaries?

There are certain situations that will arise that cause us to change beneficiaries and these situations tend to arise rather quickly. If one of the aforementioned beneficiaries passes away before they have a chance to receive the proceeds, the policyholder must make changes. Fortunately, this is a relatively simple process that will not take too much of your time and effort.

All you will need to do is contact the company that you purchased your life insurance policy from and request the proper forms. Once you have completed this simple step, you are able to choose the new beneficiaries and the process is handled as rapidly as possible…with minimal stress. 

To learn more about your life insurance policy and any potential alterations that need to be made, Brock and Poole Insurance Agency is here to help all Collierville, TN residents who are in need of further assistance.