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Twin Bridges Insurance Agency

1881 Western Avenue, Suite 210
Albany, NY 12203

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What is the Difference Between Straight and Term?

Life insurance is a protection for yourself and your family in the unexpected instance of your death. There are two types of life insurance- whole, which is also referred to as permanent- and term life insurance. Below, find what each one entails, how they are different and what they cover. The two major differences is that term is a policy that is determined for a set amount of time and whole is to protect you for your entire life.

Term Life Insurance

Term life insurance is referred to as "term" because for the time, or "term" that you are paying your premium, you are paying for the cost of your death benefit for your family or beneficiaries. Term life insurance is usually pretty affordable, with premiums averaging around $30 a month for a healthy person in their twenties or thirties. Term life insurance only provides a death benefit. During this time, the insurance company may contest any claim that they feel is fraudulent. Most life insurance holders purchase term life insurance policies for basic life insurance needs.

Whole Life Insurance

Whole life insurance premiums are much higher- up to four times as high- than term ones because they add up to a cash value along with the death benefit in the policy. A portion of the premium is put to the side in savings for each payment, which accrues interest over time and can be borrowed against. Whole life insurance policies are usually better for individuals that have a high amount of wealth, complex financial situations, and /or assets to protect or may need the cash value to borrow against while they are still living.

Contact one of the agents at NY Twin Bridges Insurance Agency to help you understand the ins-and-outs of life insurance. Call or stop by for a free quote today.

Tips for Preventing Accidents in Winter

Accidents happen during any season. However, winter, unfortunately, is a very common time for accidents because of the hazardous conditions snow and ice cause on the road. Not to mention, not everyone is an excellent winter driver, which means others may cause an accident on the road. It’s important to know how to prevent an accident on hazardous roads. 

1. Update Insurance Policy  
One of the main things an Albany, NY drivers should do in order to prepare for winter is update their insurance policy. The roads become more hazardous, which leads to more accidents. It’s an excellent time for a driver to update his or her policy to include full tort. This way his or her vehicle is covered in addition to the other party’s.  

2. Drive Slower 
A driver needs to adjust his or her speed based on the road conditions. Ultimately, the driver needs to slow down to be able to handle the car more optimally in winter weather.  

3. Don’t Slam on the Brakes 
Although the driver may feel the need to slam on the brakes to prevent sliding, this isn’t a good idea; it’s how the car will continue to slide out of control. 

4. Watch Other Drivers
Just because a person can handle his or her vehicle in the snow doesn’t mean other drivers on the road can. Wintertime is the ideal time to become more aware of others on the road. If a driver doesn’t already practice driving defensively, he or she should begin doing so in winter.  

To learn more about tips for driving in winter or to update a current policy or purchase a new one, contact NY Twin Bridges Insurance Agency, serving the Albany, NY area, at 518-608-5797.