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Twin Bridges Insurance Agency

1881 Western Avenue, Suite 210
Albany, NY 12203

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3 Essential Steps To Getting the Right Life Insurance Policy

When shopping for a life insurance policy, it’s easy to get overwhelmed. There are policy options galore, and providers like NY Twin Bridges Insurance Agency are eager to provide custom terms that work best for you.

Therefore, it’s best to plan out your needs and your limits before you zero in on a policy. If you’re buying life insurance in Albany, NY, here are a few steps to ensuring you choose a policy that will suit your needs.

1. Choose A Reputable Insurance Provider

This may seem self-explanatory, but you have to make sure to do business with a policy provider that is financially strong.

Unlike other types of coverage, your life insurance policy has to hold up for many years to come. If you choose a provider whose services go under several years before your passing, then your investment will have been worth nothing. Similarly, if a provider is not financially strong, even if they are still in business, your beneficiary may have trouble claiming a payout down the road.

Investigate your options. A provider like NY Twin Bridges Insurance Agency has a great reputation and a strong likelihood of staying in business. Your loved ones can count on a painless payout when the time comes, and therefore, your investment is secure.

2. Determine The Purpose Of Your Policy

Why do you want life insurance?

Are you trying to ensure your children’s future? Do you want to protect your business? Perhaps you are searching for a unique way to invest back into your home or protect any other assets you may have.

The purpose of your policy will determine the type of coverage that makes the most sense for you.

For instance, if you’re taking out a life policy as an investment into your retirement, you should consider a term life policy. This way, you can get a payout during your lifetime if you so choose.

If you’re interested in protecting your business, a whole life policy with some clauses about your business may be in order. Typically, in this case, you may be inclined to make your business partner a beneficiary in terms of your business assets.

3. How Much Of A Premium Can You Afford?

The rule of thumb regarding life insurance is to seek out a policy that pays out up to five times your annual salary.

However, the main financial factor is: How much of a monthly premium can you afford? For instance, if you live on a middle-class budget, you may be less interested in a whole life policy which has the most expensive monthly rates.

If you cannot afford your own individual life policy, you may be interested in subsidized life coverage through your job if your employer offers this. Before making a decision on which coverage to buy, plan out your monthly budget and factor in the premium rates. Make your choices based on your calculations. Your friendly NY Twin Bridges Insurance agent can help you increase your coverage in the future if need be.

Are You Ready To Buy Life Insurance?

Now that you know which steps to take to secure the right type of coverage for your circumstances, contact NY Twin Bridges Insurance Agency to find the policy that works best for you. We are happy to supply you with quotes and custom options.

Who Needs Commercial Insurance?

As a business owner in Albany, NY, you have been investigating commercial insurance options with us at NY Twin Bridges Insurance Agency but aren’t sure what type of policy that you need. We can help you understand your available commercial policies, no matter what kind of business you run.

Commercial Insurance is Not an Absolute Necessity

If you operate a business, many states consider commercial insurance policies as a beneficial coverage option but may not mandate them by law in the way that auto insurance and other policies are required. However, you should still buy some commercial policies to fully protect yourself against potential loss.

For example, you may end up suffering from a liability problem or another issue that costs you good money to pay for without a policy. Even worse, you could end up getting sued by a client or an employee if they get injured on your property and you had no commercial insurance.

What Types of Coverage to Consider

When buying a policy for your business, make sure that you have commercial liability coverage. This option helps to protect you against claims made against your companies by others. You should also consider business income insurance in case you lose income or the ability to earn an income due to a covered problem.

And if you have employees beyond yourself, you must purchase workers’ compensation insurance options, unemployment insurance, and disability insurance policies. If you are without these policies, you could experience legal and financial trouble in the future.

Find the Right Policy

So if you need help finding commercial insurance in Albany, NY, please don’t hesitate to contact us at NY Twin Bridges Insurance Agency right away to learn more. Our experts will set you up with the policy that best suits your needs.