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California Insurance Blog

How Whole Life Insurance Works

When you are thinking about getting life insurance, there are many differences between the different types. Whole life is one kind of life insurance, and it works a bit differently from other types of policies. If you want to know more about whole life insurance, give us a call today at THINK Insurance & Financial Services in Pomona, CA to talk to an agent. 

Your Whole Life

Whole life insurance is called this because you can keep it for your whole life. While term life insurance is good for one specific set of time, whole life insurance never expires and stays in place for as long as you pay your premiums. If you are paying them, not even the insurance company can cancel the policy. Many people are given peace of mind in knowing that it will always be there. 

The Cash Value

Another way that whole life works differently is that it builds up a cash value. Over the years, as you keep paying your premiums, a portion of that will become available to you to borrow against. The cash value of the policy can take years to build up, but many people like knowing that it’s there just in case they ever have a serious financial emergency. 

The Death Benefit

When the insured person dies, this insurance type pays a death benefit to the designated beneficiaries. If the insured had borrowed against some of the cash value of the policy, that much will be deducted from the death benefit when it’s time to pay it out. 

Get Whole Life Insurance

If you like the idea of a policy that builds cash value, can be borrowed against and is there for your whole life, call us at THINK Insurance & Financial Services in Pomona, CA to talk about a whole life policy. 

Why should you get commercial insurance in California?

The Pomona, CA area has continued to be a great place to run a company. Those that choose to start a business in this state will find there are a lot of great advantages that come, including benefiting from a good economy and a lot of support for small businesses. If you want to start a company here, protecting it as well as you can is important A great way to do this is by getting a full commercial insurance plan as it can support your business in several ways. 

Protection for all Business Assets

A reason that you should have commercial insurance is that it can protect all the assets owned by your company. If you are going to start a company, there will be assets that you need to purchase to help fuel growth. With commercial insurance, you can protect these assets from several risks including theft or damage. 

Insurance is Often Required

You should also get a commercial insurance plan as it could be a requirement. There are a lot of situations when a business owner will need to get commercial insurance coverage. If you have purchased assets with a business loan, leased office space, or raised money from investors, there is a chance you will have specific commercial insurance requirements that need to be met. Maintaining this coverage will keep you in good standing with all of these requirements. 

There are plenty of reasons to get a commercial insurance plan in the Pomona, CA area. If you would like to get this coverage here, you should speak with THINK Insurance & Financial Services. There are a lot of choices that need to be made when picking commercial coverage and THINK Insurance & Financial Services can make it easier for you by providing help and support through the process. 

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