Helpful tools and plain-English answers
A few insurance and financial resources for the Metro East, gathered to make your decisions less confusing. A glossary, links to official sources, and secure client tools, all in one place.
Where can I learn more?
Babcock Insurance & Financial Group offers a plain-English glossary, links to trusted official sources, and secure client tools, so Metro East clients can make informed insurance and financial decisions. Everything here is meant to help you understand your options before you call. When a question is not covered, reach out and we’ll walk through it with you.
Trusted official sources and client tools
Each link opens the official site in a new tab. Bookmark the ones you use most, and call us if anything on them raises a question.
FINRA BrokerCheck
Check the background of any advisor or firm.
Illinois Department of Insurance
State insurance consumer resources.
Medicare.gov
Official Medicare information.
Social Security
Benefits and retirement estimates.
IRS
Tax forms and resources.
NetXInvestor Client Login
Securely view your accounts.
A plain-English glossary
Insurance and financial paperwork loves its jargon. Here are the terms clients ask us about most, defined the way we’d explain them across the desk.
- Premium
- What you pay for a policy, usually monthly, quarterly, or once a year. It keeps the coverage active.
- Deductible
- The amount you pay out of pocket on a claim before your coverage starts paying. A higher deductible usually means a lower premium.
- Liability coverage
- The part of a policy that pays when you are responsible for someone else’s injury or property damage. It covers their costs, not your own.
- Business owner’s policy (BOP)
- A package that bundles general liability and commercial property into one policy, often at a better rate than buying them separately.
- Workers’ compensation
- Coverage that pays medical bills and lost wages if an employee is hurt on the job. Illinois requires it for most employers with staff.
- Term vs. whole life
- Term life covers you for a set number of years and costs less. Whole life lasts your whole life and builds cash value over time.
- Umbrella policy
- Extra liability limits that sit above your home, auto, or business policies and kick in when those limits run out.
- Medicare supplement
- A private policy, sometimes called Medigap, that helps pay costs Original Medicare leaves to you, like coinsurance and deductibles.
- Registered Investment Adviser (RIA)
- A firm registered to give investment advice and required to act in your best interest. Our advisory work runs through Cambridge Investment Research Advisors, Inc.
- Beneficiary
- The person or people you name to receive the proceeds of a life insurance policy or account when you pass away.
Have a question we didn’t cover?
If a term still doesn’t make sense or you’re weighing a real decision, call us. We’ll give you a straight answer and no sales pitch.
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