If an emergency arises and you need money fast, borrowing against or cashing in your whole life insurance may be a good option. If you live in or near Albany, NY, the agents at NY Twin Bridges Insurance Agency can answer your questions. They can explain how borrowing against your whole life policy works.

Whole Life Insurance

The premiums paid into a whole life policy accrue interest over time. As long as the premiums are paid on time, you may be able to borrow against your policy if you have built up enough equity. As the cash value of your policy continues to grow, so does the equity. Once the total equity reaches a certain percentage, you can borrow some or all of the proceeds. If the loan has matured, you may have the option to cash it out and close the policy

Tax-Free Loan/Withdrawal

Depending on the type of policy you have and the amount you withdraw, some of the money you borrow may be tax-free. If the money is considered a loan against the policy, there is intent that you will pay it back and that it wasn’t simply withdrawn as income. 

The agents at NY Twin Bridges Insurance Agency are always on hand to answer your questions concerning life insurance and its many advantages. If you have questions, schedule an appointment with one of their reputable agents. If you don’t already have life insurance, they provide you with the information you need to make an informed choice. Whenever you’re ready, call their office and ask them what you need to get your life insurance policy started.

When it comes to choosing commercial insurance, it can be a difficult decision to determine what type of coverage you need and don’t need. The chances are high that you will need some form of property insurance, which will help to cover any event of damaged or lost property. However, it’s important to have casualty coverage as well. 

Commercial insurance is a must-have for all businesses, regardless of their size. It’s best to talk to a representative from NY Twin Bridges Insurance Agency in Albany, NY to discuss the amount of coverage that works best for your business. Usually, the policy will depend upon if you own the office building, leasing or working from home. The value of the premium will be based on the value of your business assets. 

Commercial insurance protects the value of your business by offering compensation for all potential medical costs. Those obligations may include if an individual gets injured at your business location or if there is property damage and injuries caused by one of your employees. 

Casualty coverage provides liability for your business for negligent acts or omissions. This is a wide range of protection that encompasses coverage against damage and other liability. Not only will the policy repair or offer restitution of the damaged property, but the medical bills of those individuals injured in the accident will be covered as well. Most commercial insurance policies will combine both property damage and casualty as one coverage option. Property damage covers losses to your businesses’ physical assets that result from events such as theft, fire, explosion, burst water pipes, weather storms, and vandalism. Most lenders and others with a financial stake in the business will require the owners to have both property damage and casualty as part of the commercial insurance policy. 

Unpredictable swings in the financial markets can put your retirement plans at risk, making retirement insurance a sensible precaution to protect your future. This type of coverage can preserve your income and quality of life while helping you fulfill your dreams. Below are some of the features of this coverage and what it means for your retirement.

Retirement insurance is typically offered as a supplement to other insurance policies and can protect your retirement income if there is turmoil in the financial markets. It will ensure that your retirement income remains stable, even if your other sources of retirement funds dwindle. You may need more than social security benefits to living the retirement of your dreams, and retirement insurance can help make that happen.

Social security is considered governmental retirement insurance, but this income alone may not be enough to ensure comfort in your later years. Having enough insurance, whether it be life, disability, medical or long-term care coverage, is something you need to ensure comfort. Look to insurance professionals and retirement coverage for assurance.

Associates at NY Twin Bridges Insurance Agency in Albany, NY can walk you through retirement insurance coverage, premium options, and details, helping you select the best policy. Given the importance of retirement income and what it means for you and your family, there is no reason to subject yourself to unnecessary risk.

For additional information on retirement insurance and techniques to mitigate financial risks, please contact Twin Bridges Insurance Agency in Albany, NY. Do not let volatility in the financial markets detract from your golden years. Get retirement insurance and sleep easier at night.

Here at NY Twin Bridges Insurance Agency, we understand from a personal standpoint just how important it is to invest in life insurance. We take much pride in being able to help a number of residents living in Albany, NY and we want to help you find a life insurance policy that can best meet your needs. For now, let’s look at whether or not a person is ever too old to buy life insurance. 

What is the perfect age to buy life insurance?

Here’s the truth … the best age to buy life insurance is when a baby is one day old. The younger and healthier a person is, the less expensive their life insurance premium amounts are going to be. And while many people don’t think about buying life insurance on a baby because the child does not provide any type of income, what they fail to realize is that buying a policy for the baby is an excellent way to provide financial protection for the future grandkids. Wouldn’t you have really appreciated it if your parents had purchased a policy for you when you were a baby and the rates were locked in? 

Is a person ever too old to get life insurance?

No, a person is never too old to get life insurance, but the longer you wait to purchase it, the more expensive the monthly premium rates are going to be. Ideally, you will want to purchase it when you are as young as possible. 

To learn more about buying life insurance in Albany, NY, please contact NY Twin Bridges Insurance Agency. 

If you have a start-up in Albany, NY, you may be channeling a lot of your time and effort into expanding it but forgetting to protect what you already have. Start-ups need commercial insurance just as much as established businesses. They may need even more protection because most start-ups do not have the funds to pay for risks such as fires, liability claims, vandalism, or theft. Contact an insurance agency such as NY Twin Bridges Insurance Agency to get your new quote for commercial insurance. They will help you find the insurance commercial insurance coverage options that are able to meet your needs.

Why Your Start-Up Needs Commercial Insurance

• To Protect You From Liability Claims

If third parties are injured in your business property or their property is damaged, the may sue you. Your business may be required to compensate them for the costs of medical charges, and repair or replacement of their property. Liability insurance coverage compensates you for those fees and any legal charges that you may incur including lost wages, and pain and suffering compensation.

• To Protect You From Loses Due To Business Interruption

If your business is unable to maintain its normal operations because of risks such as fires, protests, or floods, you may be unable to pay your taxes, employees, and rent. If you don’t have insurance, such factors could force you to sell your assets. Business interruption insurance compensates you for the net profits you would have made and helps you to make your payments.

• To Protect Your Business Property

Business property insurance protects your business property such as computers, machinery, furniture, and merchandise from common risks. It may also cover other people’s items that are under the care of your business. In case of insured risks, it compensates you for the repair or replacement costs.

Contact NY Twin Bridges Insurance Agency on 518-608-5797 to get a new quote for your start-up in Albany, NY.

Everybody, of course, wants to live their lives with utmost peace of mind. To do this, though, there are several steps that a person must take. For starters, a person can take a look at the benefits to be gained when investing in life insurance. For now, let’s look at how life insurance provides peace of mind and why you should speak with a qualified agent to discuss your various policy options. 

Offers Help on Final Expenses

Final expenses can consist of any expense that is related to a person’s passing. When someone passes away and they have life insurance, the policy will help pay for final expenses, such as the casket, preparations, funeral costs, memorial services, and more. These things can get quite costly, with the average funeral costing around $7,000.  

Income Replacement

You can have peace of mind when choosing to get life insurance because, if you are like most, your loved ones may depend on you and your income to help them meet daily needs, such as car payments, utilities, medical care, and food. If you were to pass away and do not have the means to replace your income, then your family’s standard of living might be in jeopardy. But with the right policy, you can rest assured your family will be financially taken care of after your passing. 

Pay off Your Mortgage

Life insurance has the ability to pay off your current mortgage, providing your surviving family with the ability to stay in their current home and not have to worry about outstanding payments. Could your family members afford the home mortgage if your paycheck was not in the picture? If the answer is no, then they are at risk of losing the home they love. A life insurance policy, however, can help ensure they are able to make payments, and if the payout is large enough, they may even be able to pay off the entire mortgage. 

If you would like to learn more about enjoying life to the fullest with peace of mind, then contact the NY Twin Bridges Insurance Agency serving the Albany, NY area today to discuss various life insurance policy options.