Jerry Cohen, Life Insurance Broker
Jerry Cohen
Self Employed Insurance Broker
Life Insurance Broker Licensed in NY, CT, DC, FL, NC and SC
Contact Details
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Location
Port Jefferson Station, NY
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Website
About Me
Good day! My name is Jerry, and I am passionate about helping people understand their life insurance choices. I provide no-cost guidance while reviewing options from top-rated companies, so you can feel confident knowing your family is taken care of. I also help people to grasp the importance of disability insurance; long term care insurance; and being prepared for unforseen life changes.
Over the last 5 years as Baby Boomers hit retirement age I have hleped people to understnad Medicare and make good choices for supplemental coverage to fill in gaps that exist in Medicare.
Q&A with Jerry Cohen
What is a 1035 exchange and how does it work with life insurance?
Answer: A 1035 Exchange is the tax code provision which permits a life insurance contarct with cash value or an annuity with cash in it to be replaced by another more client suited contract without the client realizing a taxable gain from the cash in the contract being replaced. the old contract is replaced seamlessly by the new contract without the owner realizing a tax gain.
How do you help a client decide between term and whole life insurance?
Answer: The answer to this question is really simple. I spend a good deal of time getting acquainted with a person to understand their goals, financial skills, and protection needs. A big part of the conversation involves explaining the pros and cons of each insurance form and asking the client which sounds better to them. I also point out that it does not need to be an all or nothing situation as people can buy some whole life and some term and get the benefits provided by each product.