OUR CORE PRODUCTS
The team at JCohen Financial are trained professionals who can help you identify your financial needs and then determine which financial and insurance products can best help you meet your objectives. Some of the products we often use to serve the needs of our clients include:
LIFE INSURANCE
Many people think that life insurance is only for people with families. While it is true that life insurance can help provide for the needs of dependents, life insurance also can be an important part of a well-thought-out estate, business succession or charitable giving plan. And permanent life insurance offers many living benefits as well, such as tax-deferred cash value accumulation. For all of these reasons, life insurance can be important for someone starting out - or for someone who's starting over.
WHOLE LIFE
Whole Life insurance is also known as permanent insurance. You receive coverage for your entire life, as long as premiums (which are a set amount per period) are paid. Whole life policies accumulate cash value tax-deferred.
TERM LIFE
Term Life policies provide coverage for a specific amount of time - such as 5 years, 10 years or 20 years. Term premiums are often less expensive than whole life premiums, but once the term of the policy is complete, coverage terminates. There is no accumulation of cash value.
UNIVERSAL LIFE
VARIABLE UNIVERSAL LIFE
Like Whole Life, Universal Life is a permanent insurance policy, which means that it covers you for your entire life, as long as premiums are paid. Universal life, however, offers you flexibility that enables you to change your premiums and death benefit as your needs change. This policy will terminate if at any time the cash surrender value is insufficient to pay the monthly deductions. This can happen due to insufficient premium payments, if loans or withdrawals are made, or if current interest rate or charges fluctuate.
Variable Universal Life Insurance combines the premium and death benefit flexibility of a Universal Life policy with investment opportunities. You may allocate your premium amongst a variety of professionally managed investment divisions plus a fixed account. Of course, with investment opportunities comes risk along with the potential for reward.
These products are offered by prospectus through NYLIFE Securities LLC. (member FINRA/SIPC), and a Licensed insurance Agency. Be sure to request one and read it carefully before investing as both the product and investment options prospectuses provide complete information you need to know regarding charges, expenses and risk factors.
ANNUITIES
An annuity is a unique financial vehicle designed to help you accumulate money for your retirement and/or turn a lump-sum of money into a guaranteed stream of income payments. Deferred annuities offer the advantage of tax-deferral and can be used to accumulate money for retirement. Income annuities are used to generate a stream of income payments that is guaranteed to last for as long as you need it to - even for the rest of your life*. Some of the different types of annuities are:
*Guarantees are dependent upon the claims paying ability of the issuing insurer.
FIXED DEFERRED ANNUITIES
With a Fixed Deferred Annuity, the interest rate on your policy is guaranteed* never to fall below a certain amount. For many people, this provides a measure of security.
Subject to a sales charge for early withdrawals and may be subject to income tax. Withdrawals prior to 59.5 are subject to a 10% tax penalty.
*Guarantees are dependent upon the claims paying ability of the issuing insurer.
LIFETIME INCOME ANNUITIES
An income annuity where income payments begin immediately – within one year after the annuity is purchased. Or, an income annuity where the payments are deferred - at least two years after the annuity is purchased. It is designed to provide you with predictable income monthly, quarterly, semi-annually or annually, no matter how long you live, and regardless of how the financial markets perform.
All guarantees associated with Annuity Contracts are based on the claims paying ability of the issuing insurance company. Withdrawals may be subject to regular income tax, and if made prior to age 59 1/2, may be subject to a 10% IRS penalty. In addition, surrender charges may apply.
VARIABLE DEFERRED ANNUITIES
A Variable Deferred Annuity offers the advantage of tax deferral and can be used to accumulate money for retirement. The policy’s accumulated value – and sometimes the amount of monthly annuity benefit payments – fluctuates with the performance of your investment account. There are fees, expenses and risks associated with the contract. Please be aware that assets allocated to the investment divisions are subject to market risks and will fluctuate in value.
Offered through NYLIFE Securities LLC (member FINRA/SIPC), and a Licensed Insurance Agency.
DISABILITY AND EXTENDED CARE NEEDS
To execute a sound retirement strategy, asset and income protection are a must. Designing a plan that encompasses managing costs for extended periods of care and disability insurance can help create the necessary balance in a portfolio to ensure stability and protection of assets.
