Can I Borrow Against My Term Life Policy

Term life insurance offers other benefits aside from providing a way for you to pay your final expenses. At Access Insurance Services, agents help the residents of San Antonio, TX find the right type of life insurance for their individual needs. For some residents, having a term life insurance policy will suit their needs as well as provide them with a line of equity in case of emergency.

Build Equity

With a term life insurance policy, you have an opportunity to build usable equity. Because it is a "term" policy, the number of payments have already been decided in order to reach the policy’s maturity. With every monthly premium you pay, you continue to build equity.

In Case of an Emergency

When enough equity has built up in the policy, you may be able to take a loan out against what you have already paid in. You will have to apply for the loan just like you would if you were borrowing from a financial lender. If you are approved, you will be able to borrow a pre-determined amount.

Make Additional Payments or Add Payments to the End

When it comes to repaying the loan, you can make an additional payment every month along with your regular monthly premium or you can add the payments on to the end of the term.

If you are interested in learning more about the benefits of a term life insurance policy, call the agents at Access Insurance Services. Residents who live in San Antonio, TX can get all of the information they need about term life policies simply by calling the office and talking to a reputable agent.

Will My Commercial Insurance Policy Cover Facility Expansion?

Starting a new business is always such a scary, yet exciting time. As time goes on, you gain your footing in the market and begin to slowly grow bigger and bigger. When you have finally outgrown your current space and need to move to a larger facility or simply decide to acquire a second location, you must make sure that your insurance has you covered. The best thing you can do is speak with Access Insurance Services of San Antonio, TX to determine whether or not expansion is already covered under you’re current commercial property insurance policy.

Commercial Property Insurance

For an expanding business, commercial property insurance is a must. Purchasing a policy that fits your needs will safeguard your business, investments, and personal finances. In the event that something goes wrong, you can be confident that your business will not be destroyed. For example, if there happens to be an accidental fire and all of your office furniture and inventory are burned to a crisp, your insurance plan will save you from financial ruin. Under a commercial property insurance plan, the following are examples of what will be covered:

  • Your facility or building
  • Other parties’ property
  • Your stock of products or inventory
  • Outdoor signage
  • Outdoor landscaping and surrounding gates/fencing

When you are adding on to what you already have covered under your policy, contact Access Insurance Services to make sure that your new additions have been taken into account. If they have not, an insurance professional from Access Insurance Services will be able to help you determine the best way to adjust your plan in order to make sure your business is completely covered in the event of an incident.