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Can I Borrow Against My Life Insurance Policy in Denver, CO?

Life insurance is an important part of your family’s financial plan in Denver, CO. It provides protection for your spouse and children in the event of your untimely death. Sufficient coverage gives you the peace of mind that if something should happen, your family will be able to survive with the loss of your income. Yet, only half of young families have the protection of life insurance a study by the National Association of Insurance Commissioners found.  Further, those who did have insurance were underinsured.  AFI Insurance can help you with the coverage you need.

Term and whole life are two types of life insurance available. Term life insurance covers an individual for a specific period of time.  It does not accrue cash value. It can be renewed but the premiums may increase over time.  Whole life insurance policies cover the individual for the length of their lifetime. As long as the premiums are maintained, the policy will protect the family and grow in cash value. While premiums are higher for whole life policies, when they reach the level that they cover the death benefit, they will be invested and begin building value. You can borrow against this amount if you need to. You will have to pay back this policy loan with interest.  However, in many cases, the interest rate will be lower than a bank or credit card. The policy loan can be used for anything that you would like from bills to vacations.

The team at AFI Insurance serves the Denver, CO area. They can help you get the protection you and your family needs.  Visit their website for information to get started. Then give them a call or visit their offices today.

The Building Blocks of a Good Commercial Insurance Policy

A commercial insurance policy is difficult for many owners to swallow. It may seem as though the expenses of keeping a business running never end, so it’s hard to justify getting extensive coverage that may eat into other important matters. But AFI Insurance wants the entrepreneurs of Denver, CO to succeed, and skimping on a policy won’t help. See how to start building your commercial insurance policy the right way. 

Answer Some Key Questions 

The best way to decide on a policy is to listing out what’s most important to your business. For example, if you do your selling online, you won’t need to worry about customer injury coverage inside your establishment. However, you may have to worry about the repercussions of a customer being hurt by a faulty product you sold to them. The most common commercial insurance elements include (at a bare minimum) protection of income after a weather event, protection of property from weather or criminals, and employee protection from injuries. Most businesses need to go further to include specific risks that may pertain solely to your industry. 

Taking It a Step Further

When business owners prepare for the worst, they find themselves less stressed when something does happen. Once you’ve thought of all the ways that your business can be threatened, you can decide which ones are likely (e.g., your computer systems might be hacked) and which ones aren’t (e.g., a hurricane destroys most of Denver, CO.) If you have more questions, AFI Insurance can help you put together the best commercial policy for your business. We’re here to find out more about what you do before our recommendations. Give us a call if you’re looking for advice, or just want to get a sense of how we do business!



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