SAANYS Members
All SAANYS members are entitled to a complimentary
Financial Profile from the Central New York Agency, LLC. Through SAANYS’ relationship with the Central New York Agency, all members are entitled to a personal financial profile. This is a valuable, no-cost benefit to all members. Take a moment and ask yourself five simple questions: - Are my investments properly allocated for my risk tolerance?
- Am I concerned about whether I will have enough income in retirement?
- What about the impact of market downfalls?
- Would a 403b retirement account make sense for tax reasons now and retirement income in the future?
- Do I need professional financial advice for planning purposes for myself and my family?
Retirement Plans Central New York Agency has been an innovator in meeting the changing needs of plan sponsors and participants for more than half a century. Our access to a wide range of retirement products and services can help you design and maintain a long-term retirement strategy. What are they? - Retirement plans are plans offered by employers to their employees to help achieve income at retirement. How are they used? - Different types of retirement plans may be offered as part of employee benefit packages to attract and retain employees. What are the benefits? - We offer a broad spectrum of defined contribution/401(k), defined benefit, and non-qualified deferred plans. Click here to use our retirement calculator Retirement Products & Services - Individual Retirement Accounts (IRAs)
- 403b Rollovers and Enrollments
- Fixed and Variable Annuities*
- Retirement Needs Review
- Long Term Care Insurance
- Life Insurance
Investment Products - Mutual Funds
- Unit Investment Trusts
- Variable Annuities
- Direct Participation Programs
- Securities Brokerage Services
Estate Planning - Estate Preservation
- Tax Reduction Strategies
- Charitable Giving
Individual Insurance Services What is life insurance? Life insurance offers financial protection for your family and beneficiaries when you die. Some policies also accumulate cash value, offering a living benefit that can be used for supplemental retirement income, funding for a child’s education or cash for emergencies.* Who needs life insurance? So much depends on your needs and your income. If you have loved ones who rely on you for their financial well-being, life insurance helps ensure that their financial future isn’t left to chance. What is covered under a life insurance policy? There are many types of life insurance policies that offer a variety of features and benefits. The basic principle of a life insurance policy is that it pays your beneficiary a specified amount of money when you die in exchange for regular payment of premiums. What are the different types of life insurance? There are two basic types of life insurance: Term Life Insurance and Permanent Life Insurance. Term Life Insurance For those who have a specific need for coverage for a certain period of time or for a cost that is generally lower than permanent insurance, term life insurance is often a good option. Permanent Life Insurance For others who prefer the added flexibility and security that owning life insurance for their entire lives can offer permanent life insurance is typically purchased. In many instances, people find that their objectives are best met with a combination of both term and permanent life insurance. What are the different kinds of permanent insurance? Whole Life Insurance Whole life insurance provides protection for a lifetime as long as the policy is in force. It offers guarantees that you can’t find in other forms of life insurance, including guaranteed premiums that will not increase, a guaranteed death benefit and guaranteed cash value growth.** Universal Life Insurance Universal life insurance provides lifetime death benefit protection along with flexibility that gives you choices as your needs and finances change. It offers options such as coverage amounts that may be increased or decreased, and premiums that you can vary based on your finances as long as there is enough money in the account to pay for the monthly insurance and administrative charges. Survivorship Life Insurance Survivorship life insurance covers the lives of two individuals with one policy. It pays a death benefit after both insureds have died. The cost for this policy is usually lower than the cost of two individual policies. Disability Income Insurance If you are like most people, you have insurance on your house, your car and other items of value. But, you may have overlooked protecting what is often your most valuable asset - your ability to generate an income. The same income that allows you to accumulate, and pay for, the other assets you hold dear. Disability income insurance helps protect a portion of your income and provides a fundamental layer of security for your financial future should you become unable to work due to injury or disability. Insuring Your Most Significant Financial Asset What would happen if you became disabled and suddenly stopped working? How long could your savings cover your fixed expenses? In addition, you also need to think about what would be available to you in the event you were unable to work. You are likely to discover that Social Security or employer-sponsored disability income insurance policies, such as group long-term disability programs, may leave you coming up short. Disability income insurance can provide monthly benefits while you are unable to work due to illness or injury. It can also help you protect your assets - and your ability to continue making contributions to your qualified retirement plans - to keep your long term financial strategies on track. MassMutual offers flexible solutions for various income levels. When you purchase disability income insurance, you hope that you will never need it. But if the unfortunate does happen, we will be there to help. These policies have exclusions and limitations. For costs and complete details of coverage, call us at 1-877-251-2540. What is it? Long term care is a variety of services and supports to meet health or personal care needs over an extended period of time. Most long term care is non-skilled personal care assistance, such as help performing everyday Activities of Daily Living (ADLs): bathing, dressing, using the toilet, transferring (to or from bed or chair), caring for incontinence and eating. The goal of long term care services is to help you maximize your independence and functioning at a time when you are unable to be fully independent. You may wish to stay in your home and stay as independent as long as possible. Insurance is one option that helps provide more independence and control over health care decisions. *Distributions under the policy (including cash dividends and partial/full surrenders) are not subject to taxation up to the amount paid into the policy (the cost basis). If the policy is a Modified Endowment Contract, policy loans and/or distributions are taxable to the extent of gain and are subject to a 10% tax penalty. Access to cash values through borrowing or partial surrenders can reduce the policy’s cash value and death benefit, increase the chance the policy will lapse, and may result in a tax liability if the policy terminates before the death of the insured. **All Guarantees are based upon the claims paying ability of the issuer. * Securities offered through Qualified Registered Representatives of MML Investors Services, Inc., member FINRA and SIPC. Supervisory Office: 432 North Franklin Street, Suite 50 Syracuse, NY 13204. Tel: (315) 449-3000,
Fax: (315) 449-3030. CRN201105-141713 |
