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Twin Bridges Insurance Agency

1881 Western Avenue, Suite 210
Albany, NY 12203

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How Whole Life Insurance Works

When you are interested in a life insurance policy, it’s a good idea to find out about different types of policies. The whole life policy is a popular type for its many advantages. If you are interested in a whole life policy, give us a call today at NY Twin Bridges Insurance Agency in Albany, NY. 

Whole Life

The reason that a whole life policy is named the way it’s named is that it is good for the rest of your life. Unlike term insurance, which is only in effect for a specific term of time, a whole life policy has no expiration date. As long as you keep paying your monthly premiums, your insurance will stay in effect. This is a helpful way to keep your premiums at the same level long term. With term insurance, there is a different price each time you renew it. With whole life, you know what you’ll be paying for life. 

Cash Value

Another big advantage of whole life is that over time it builds up a cash value. This is an amount that is a portion of the amount your premiums make when the money you pay into it is invested. This portion is an amount you can borrow against whenever you need to. This makes it extremely helpful if you get into a financial bind and need quick help to get out of it. Once you borrow the money, it is simply paid back with regular payments like any loan. If you happen to die before the loan is completely paid back, the amount still outstanding will be deducted from the policy’s death benefit. 

Time for a Whole Life Policy

If you don’t have a life insurance policy in effect, this can be dangerous for the future of your loved ones. It’s important to have a policy in place that will protect them. Give us a call at NY Twin Bridges Insurance Agency in Albany, NY to find out more. 

Do all businesses in Albany need commercial insurance?

Albany, NY is the capital of the state and continues to have a high population and good economy. Due to this, Albany can be a good place for anyone to own and run a business. While you are going to have a lot of opportunities to be successful in this state, there are always going to be some business risks that go along with it. To help mitigate these risks, you need to get commercial insurance. This is a necessity for a few reasons.

Insurance will Protect Solvency

An important reason anyone here should get a commercial insurance plan is that it can protect your business. An organization in any industry always runs the risk that it could lose core assets or be named in a liability lawsuit due to an unforeseen situation. These situations can be very detrimental to your company. Fortunately, you can offset and mitigate these risks with proper insurance coverage. 

Insurance is a Requirement

You should also get commercial coverage as it may be a requirement. Those that are going to raise money from investors, lease a building, or enter into certain contracts may be obligated to carry a certain level of coverage. With a full commercial insurance plan, you will get the appropriate coverage that you need. 

A business in the Albany, NY area will always need to have a proper commercial insurance plan. If you would like to get this type of insurance here, it would be wise for you to call NY Twin Bridges Insurance Agency. There are a lot of choices that need to be made when picking this type of policy and NY Twin Bridges Insurance Agency can help in many ways. The team will evaluate your business needs and provide the support you need to choose an ideal policy.