Whole life insurance is one of two major types of life insurance available. You need to learn about insurance types available from providers in Albany, NY like NY Twin Bridges Insurance Agency to find the best policy type for your unique needs.

The following are three reasons why you might want to choose a whole life insurance policy.

The policy will never expire.

A lot of those who are on the market for life insurance want to have life insurance that they can depend on permanently. Term life insurance is temporary and will only offer coverage for a given period of time. On the other hand, a whole life insurance policy is permanent. This means that the policyholder can count on coverage and won’t be disqualified from renewing a policy down the road because of age or health problems. 

The policy accumulates cash value over time. 

Those who take out a term life insurance policy lose all the funds that they put into the policy if they outlive the policy life. However, those who take out a whole life insurance policy get back the money they invest in the insurance policy because the policy accumulates value like a savings account. 

You can borrow against the policy. 

As a whole life insurance policy accumulates value, this value can be borrowed against by the policyholder. This means that a whole life insurance policy provides a good source of emergency funds or extra funds the policyholder can use as they see fit. 

If you want to get more information about whole life insurance and other life insurance options in Albany, NY, get in touch with us at NY Twin Bridges Insurance Agency to learn more. 

Protecting your business in Albany, NY with commercial insurance is important. It’s also important that you ask the right questions before committing to a particular commercial coverage option. 

You should ask us the following questions at NY Twin Bridges Insurance Agency when selecting your commercial insurance policy. 

Which commercial insurance coverage types are most important for me?

One of the most important things to realize is that there are many different types of commercial coverage to consider. These include general liability, errors and omissions, and workers’ compensation coverage. 

Our representatives have worked with many business owners to find the right commercial coverage. They can provide you with advice on what coverage types companies like yours need. 

How can I bring down my commercial insurance costs?

You may be able to bring down your insurance costs in a variety of ways. You could choose a higher deductible to bring down costs. You might also be able to get a discount by purchasing multiple insurance types from the same provider.

If you’re insuring commercial vehicles, you may be able to reduce costs by hiring employees with good driving records.  

What are my payment options?

Most providers will give you the option to pay in a lump sum or per month. You should enjoy a discount if you pay your entire premium upfront. Therefore, it’s a good idea to pay upfront if you can afford it. 

Careful research is important for finding the best commercial insurance policy in Albany, NY for your needs. You can get more information about commercial insurance by contacting us with your questions at NY Twin Bridges Insurance Agency.