If you have a life insurance policy through your employer, you may think that you are set even if you leave or lose your job. However, this is something that may employers do not tell you about. According to NY Twin Bridges Insurance Agency, if your policy is a non-portable policy, you may have to start all over with life insurance if you leave your job in Albany, NY or lose it for any reason.
When a life insurance policy is not portable, that means you cannot take it with you if you are no longer employed with your company. The thing about enrolling in life insurance through your employer is that it is easy. Generally, if you enroll within your new hire window, you are approved with no questions asked. That means no matter what is going on with your health, you are covered. However, if you leave and need to get another policy, there is no automatic enrollment and over time, life insurance will get more and more expensive. If you change jobs several times over the course of 10 or 12 years, you will find out that most policies are not portable and the cost for each new policy is increasing every time. If you do not get offered life insurance at a new job, you will need to consider a personal policy that you can always keep with you no matter what happens, which may be the better option anyway.
If you have recently lost your job and were not aware that you also lost your life insurance coverage, you may want to consider getting another life insurance plan that can better protect you and the ones you love. Contact NY Twin Bridges Insurance Agency serving Albany, NY to learn more about your life insurance options.
Maybe your Albany, NY business started out in your garage with just your minivan available for deliveries. Now it’s booming and you’ve had to hire a couple employees to keep up with demand. However, it may also be time to add commercial auto insurance. NY Twin Bridges Insurance Agency reminds you why driving your personal vehicle can throw a wrench into your goals.
Commercial Auto Protects Your Drivers
Your personal auto insurance only covers you in the case of an accident. If you have an employee using the van to deliver goods around town, a commercial auto insurance policy will cover their medical bills if they are involved in an accident. Also, it removes any confusion over whose insurance will pay for repairs for the vehicle, even if it was your driver’s responsibility. Instead of waiting for red tape to be sorted out, the van will be repaired and you’ll be back to making money.
Extended Liability Fights off Potential Claims
When your vehicle drives around town with the company logo on the door, there is a perception that there’s a deep pocket paying for the entire production. With commercial auto insurance, you also receive liability coverage generally above the standards required by a personal policy. Your insurance company will be able to handle most greedy claimants without interrupting the cash flow of the business. It helps to create a confident state of mind for you while protecting your investments and savings accounts.
Running a small business in Albany, NY is certainly not simple. However, when you purchase your commercial auto insurance from NY Twin Bridges Insurance Agency, many of your questions and concerns regarding your delivery vans will be addressed by our friendly and knowledgeable agents.