Zac Mekker, Life Insurance Agent
Zac Mekker
Life Insurance Agent Licensed in NY
Contact Details
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Location
East Syracuse, NY
Zac Can Help With:
About Me
Welcome! I'm Zac, a local life insurance specialist who understands the importance of protecting what matters most. From growing families to individuals planning ahead, I help people at every stage of life choose coverage with confidence.
Q&A with Zac Mekker
How do joint or survivorship life insurance policies work?
Answer: Joint/Survivorship Life Insurance policies often times come into play for legacy objectives. Because the policy is based on the health of TWO individuals, the underwriting process can help "average" out the medical files of the two of them. The cost of the insurance would be less than two identical policies on the individuals because it is based on two lives instead of one. All other design features and tax-efficiency of individual policies can be used to right size the policy and target the goals of the individuals. This is not a good fit for a couple that is looking to leave money for the surviving spouse.
What questions should a first-time life insurance buyer ask their agent?
Answer: Can you please explain the different types of life insurance that are available? Are there any that exist that you do not have access to? How do you calculate the death benefit need? Life is going to continue to evolve, how does the life insurance plan continue to grow and adjust as needs and objectives change over time? What does your own personal life insurance plan look like?
What is accidental death and dismemberment insurance, and do I need it separately from life insurance?
Answer: AD&D Insurance is an inexpensive way to add coverage to a life insurance program. As such, it is often used to fluff up a benefits platform from an employer. The reason it is so cost efficient (as compared to regular life insurance) is because the type of death or injury is so specific that insurance companies have limited risk exposure. As such, there would have to be specific reasons it would be recommended to a client.
How do I know if my life insurance company is financially stable?
Answer: There are several financial reporting agencies out there that can help provide this information from a 3rd party source. These would include Fitch, A.M. Best Company, Moody's, and S&P Global Ratings. It would also be useful to know how long the insurance company has been in existence. You can also ask the insurance broker if the company they are using typically sells policies to other companies after they are in force.
Can life insurance help pay for long-term care or nursing home costs?
Answer: There are several ways to design a life insurance program so that it can solve for multiple challenges. There are certain hybrid platforms that can be used to cover both death benefit need and the cost of LTC care. While the "two birds with one stone" approach does sound great, there are plenty of instances when it may not be the best path forward. Speak to a knowledgeable and trusted resource to determine what is best for your situation.