Most people underestimate the amount required to see their children through college, or to allow a surviving spouse to maintain his or her standard of living. Selecting the right insurance product and coverage is key to meeting these needs.
The two basic types of coverage are term life, which provides the most affordable coverage, and permanent life insurance, which combines a death benefit with an investment component.
There are several types of permanent life policies which differ in the investment options involved. One of the most popular is Universal Life, which provides a market interest rate and payments that are generally lower than traditional whole life. Variable Universal Life allows you to choose between investment options, assuming both the risks and rewards associated with your selection.
While the federal exemption for estate and gift tax has been increased to $5 million for 2011 and 2012, your state exemption may be considerably lower. For example, the exemption is currently $1 million in NY State.
Particularly for individuals owning stock in a closely held family business, estate taxes can be potentially devastating, and force the sale of the business or other investment assets upon your death.
With our estate planning services, you can ensure that as much of your estate as the law allows goes to your designated beneficiaries. We can assist you in using life insurance as a tool to help pay estate taxes, so that your heirs aren't suddenly forced to sell assets on short notice to pay the estate tax, and so your family business can remain within the family.
Please contact one of our estate advisors at (516) 627-1338, or use the convenient 'Request a call back' form to the left of this page for a free consultation.
Group Health & Employee benefits
Selecting the right benefit package is becoming increasingly important in retaining the best employees, and keeping them productive. The cost of health insurance and other employee benefits is growing rapidly. Weighing the cost and features of the many HMO, PPO and traditional plans available is becoming more difficult and complex every day.
We can offer you a complete needs analysis, and help you determine the most appropriate policy for your organization.