What is the difference between Term Life Insurance and Universal Life Insurance?

A: Term Life Insurance is life insurance which provides a level death benefit at a fixed annual premium for a limited period of time. This period of time can be 5 years, 10 years, 15 years or even 30 years. Universal Life Insurance combines the low-cost protection of term insurance with a savings component that is invested in a tax-deferred account. This cash value may be available for a loan to the policyholder in the future.

Are Annuities Safe? (Garden City, NY)

By abraham | November 1, 2024 | 0 comments

Many investors want to know if annuities are safe or if they are on par with other forms of investments like mutual funds or bonds. Before I answer this question, I’ve got to remind you that all forms of investment carry some level of risk, and...

Can You Lose Money With Annuities? (Garden City, NY)

By Team Member | October 15, 2024 | 0 comments

When planning for retirement, one of the last things you need on your mind is the fear of losing the money in your retirement plan. The good news is the majority of typical Annuities don’t make you lose money. Fixed annuities will offer you a f...

The Best Life Insurance Policies for 50-Year-Olds

By Team Member | April 18, 2024 | 0 comments

READ THE FULL ARTICLE FEATURED IN MONEYGEEK HERE   Why is life insurance more expensive for people over 50? The older we get, the more expensive life insurance becomes due to rising mortality rates. Also, the longer we live, the greater the like...

Are Business Premiums Tax Deductible? (Garden City, NY)

By Team Member | April 12, 2024 | 0 comments

Every business owner wants to make sure they take advantage of all the tax deductions that they can. And a common question regarding business insurance is whether or not premiums are deductible. To start with – we all know that taxes are a comp...

Pitfalls in Cyber Insurance Coverage and How to Avoid Them

By Team Member | April 9, 2024 | 0 comments

Cyber insurance serves as an effective safeguard against a cyber attack by providing time-critical resources and indemnifying your organization for losses. While it’s essential to cover the direct costs associated with a data breach or ransomware a...

Mitigating Cyber Risks of Human Error

By Team Member | February 15, 2024 | 0 comments

Still, it’s been the same way for 10 years. People are what get breached, not systems for the most part for businesses. Especially small to mid size businesses. It’s the people that are breached through some type of process, be it phising...

How Much Business Interruption Coverage Do you Need?

By Team Member | February 15, 2024 | 0 comments

You’re gonna have to take into account your revenue and expenses and you’re gonna have to boil that down to one simple number. You’re gonna have to say, ok, if my business is down for X number of days, what does that cost to me as a...

Cyber Insurance Sub-Limits on Wire Transfer Fraud Coverage

By Team Member | February 14, 2024 | 0 comments

Just to clarify – social engineering, sometimes it’s called funds transfer fraud. In layman’s terms, wire fraud is used often to describe it. I call it the 21st century con. It’s a 21st century digital con. It’s when som...

What is Business Interruption in a Cyber Insurance Policy?

By Team Member | February 13, 2024 | 0 comments

So business interruption indemnifies your firm for loss of income caused by a cyberattack – that shuts down your network, software applications or hardware. And it will also pay for extra expenses, which are additional costs you might incur whi...

Does Cyber Insurance Cover Reputational Harm?

By Team Member | February 13, 2024 | 0 comments

Reputation is so important. In fact, we sometimes find that the financial loss due to the reputational damage can be greater than the direct costs associated with a breach. There’s a reason why cyber attacks are believed to be highly under repo...