Twin Bridges Insurance Agency

Life Insurance Options as a Albany, NY Resident

We all like to believe that we will live forever, but we all face the reality that eventually our number will be up. At least life insurance can give you some peace of mind. Life insurance can provide for your family after your death covering funeral expenses, paying off a mortgage, covering college tuition and more. It can also be part of your financial picture while you're still around to enjoy it. While an individual term life policy would only pay out at the time of your death, other life insurance coverage like whole life, universal life and variable universal life actually build cash value that you can borrow against in a financial pinch or can actually draw annuity payments from in retirement. If you live in Saratoga Springs, Schenectady, or elsewhere in the Albany area, the Twin Bridges Insurance Agency can compare multiple life insurance policies to make sure that you get great coverage at a great rate.

With the cost of living in Albany and other parts of New York, residents of these areas probably tend to worry about future finances even more than most. Beyond a good cash-building life insurance policy, people often fund their retirement with pensions, annuities, individual retirement accounts (IRA's), 401 K's and 403 B's. The basic idea of all of these financial products, is the same--you pay money in when you're working, then it gets paid back to you after you retire. The differences between the financial vehicles basically comes down to how the money is paid in and taxed. Pensions 401 K's and 403 B's are run through your employer and your employer may choose to contribute some or all of the money themselves. Your contributions are taken through payroll deduction. IRA's are accounts that you start yourself and pay through your own bank account or through payroll deduction, and they can be taxed on deposit or withdrawal, depending on the type of IRA. If you are concerned about the financial future of yourself or your family and you live in Saratoga Springs, Schenectady, Albany or elsewhere in upstate New York, you should contact Twin Bridges Insurance Agency today!