Chances are, you are like the majority of individuals who have reached middle age. The primary concerns in your life are paying your monthly bills, making sure your children receive a good education, as well as the all-important goal of saving some money every month for retirement.

As well you need to plan for the unexpected. Your plans can be destroyed by a serious accident or illness.

You may have heard about long-term care insurance, but you probably dismissed it with questions such as “What is it?” or “Who needs it?”.

The answer is that you do, and so does everyone else. You may reply that you already have health insurance, but most health insurance does not cover what are known as custodial expenses. These expenses arise from custodial care, which is defined as the care needed as a result of the inability to carry out tasks relating to the following daily activities:

• Bathing,

• Dressing,

• Eating,

• Continence,

• Toileting and

• Transferring.

As people age, many of them find these basic tasks harder and harder to do without some form of help. The need for this type of care necessitates having long-term care insurance, which can provide the monies necessary in order to hire and maintain the proper care needed.

This is made even more necessary by the fact that people are living much longer, sometimes twenty or thirty years longer past retirement. Oddly, the fondest wish of these people is to remain independent. They can do so if they obtain long-term care insurance.

When is the right time?

The best time to purchase long-term care insurance this is when someone is in their mid-forties, because that time of life is when insurance companies offer the lowest rates and premiums for their policies.

Children can also purchase it for their aging parents. If they do not, there are two options left if something goes wrong, both of which are very unattractive. They either have to pay for the cost of their own income, or their parents have to pay for it out of their assets.

When you take into consideration the fact that this care routinely costs $90,000 and up annually, this is a tremendous burden to take on for either the children or the parents.

Statistical research reveals that the average retired couple exhausts their savings in a matter of months when paying for care themselves. Even wealthy retirees find their money severely shrunk, which lives little for their children or grandchildren.

Long-term care insurance from a reputable and trustworthy insurance company can help retirees receive the care they need at a price they can afford both now and twenty or thirty years from now.

Buyers must exercise the virtue of prudence when choosing a policy; each one comes with a set of circumstances and options to consider. We can help you review the different policies so that you can make the right choice for your life circumstances.

After taking care of this, you can enjoy the peace of mind that comes with a long-term care policy.

If you would like to speak with us call Gary Wallach at 914-806-5853 or click here to email or click here to visit our website.

BGES Group, located in Larchmont, N.Y. are New York Construction Insurance Specialists that represent 50+ companies and all the BEST general & umbrella liability programs!  We offer every coverage you need including property, builders risk, inland marine, general liability, umbrella liability, auto, bid & performance bonds, workers’ compensation, N.Y.S. disability and group health.  We are extremely responsive, responsible, trustworthy, fast, minimize your insurance headaches, we don’t charge ridiculous policy or service fees and when you call, text or email, whatever time of day, even weekends, we are ARE THERE to help YOU!

BGES Group are Workers’ Compensation Insurance Specialists for Tri-State Business Owners: Unhappy with your rates, company, being cancelled, losses causing difficulty getting coverage, in the middle of an audit dispute, payrolls misclassified, whatever your issue, we can help!  We have special programs for: Auto Service, Contractors (especially New York), Limousine Services, Logistic Companies, Manufacturers, Recyclers, Truckers, we can help ANY tri-state business owner.  We are considered “Preferred Agents” for this one program that if we can get you in, their pricing is excellent, offers long-term coverage stability and can cover multi-state operations. Program takes the hassle out of doing annual audits too.

In addition, we offer all personal insurance coverages including home, auto, boat, jewelry, fine arts, life, disability, health and long-term care.  When was the last time you got a complete check up for all your coverage needs?   We are extremely caring and would love the chance to help you with your personal insurance needs.

BGES Group is an insurance agency whose owner is very responsible, responsive, offers boutique, very personal service and is ALWAYS there when you need him most!

We know reading an article we post or getting an email is not the best way to consider working with someone.  If you are interested, go read our “Google Reviews” and see what people have to say about us!  That can give you the comfort level needed to contact us.

If you would like to speak with us call Gary Wallach at 914-806-5853 or click here to email or click here to visit our website.

Company: BGES Group, 216A Larchmont Acres West, Larchmont, NY 10538

e-mail: bgesgroup@gmail.com

website: http://www.bgesgroup.com

© – Copyright – 2023 – BGES Group

Doctor hand touching LONG – TERM CARE sign on virtual screen

Many of us understand the need for protection against the financial consequences of unexpected illness and death. But what about the financial impacts of living a long life?

Americans are living longer into retirement than ever before. That means retirement savings need to last longer, too — and withstand significant stock market and inflation risk.

Consider:

• A 65-year-old man has a 41% chance of living to age 85 and a 20% chance of living to age 90. A 65-year-old woman has a 53% chance of living to age 85 and a 32% chance of living to age 90, according to the Society of Actuaries.

• If they are married, then there is a 72% chance that one of them will live to age 85 and a 45% chance that one will live to age 90.

Securing a guaranteed income for life

Most seniors are interested in securing a lifetime income that they can never outlive, regardless of economic conditions, and regardless of how long they may live into retirement. And indeed, doing so is very easy, using the most straightforward of products — the lifetime income annuity.

How annuities work

An annuity is simply a contract. You pay an insurance company a sum of money – the premium. In return, the insurance company promises in writing to provide a stream of income for a set period of time, or for as long as you live — you choose.

You can also select a joint and survivor annuity, which means the insurance company will pay a specific income for as long as either you or your spouse, or other designated individual live. This means your income will last as long as either of you survives – guaranteed, in writing.

Some mutual funds and some bonds or bond portfolios are also designed to kick off an income. But none of these products does so on a guaranteed basis, regardless of market conditions. Only annuities protect you in writing against stock market declines or big swings in interest rates that can affect bond portfolios.

Lifetime income annuities

While more complex forms of annuities opt for a number of additional promises and guarantees, the simplest, most straightforward annuity variant is the lifetime income annuity. These provide the maximum monthly income for a given amount of premium. But you can elect other options, as well. For example:

• Inflation protection — A guarantee that your payments will increase with the cost of living over time.

• Joint life annuities — Payments that last until the second annuitant dies.

• Death benefits — If you die before you receive the amount of premium you contributed to the annuity contract in income payments, the insurance company will forward the difference to your heirs.

Who should consider a lifetime income annuity?

Consider a lifetime income annuity if you meet these criteria:

• You are concerned that systematic withdrawals from an investment portfolio may result in you running out of money during your lifetime, or the lifetime of a spouse or partner.

• You are in unusually good health for your age.

• Your parents and grandparents lived well into old age.

• You want to guarantee more lifetime income than you will receive from Social Security or a pension.

• You want to pass on a stream of income to a loved one – some people name grandchildren as joint annuitants – resulting in a check every month to a child or grandchild for as long as they live, long after you are gone.

If you have health problems or otherwise expect you may die earlier than the average person your age, a lifetime income annuity may not be the best option for you.

If you would like to speak with us call Gary Wallach at 914-806-5853 or click here to email or click here to visit our website.

BGES Group, located in Larchmont, N.Y. are New York Construction Insurance Specialists that represent 50+ companies and all the BEST general & umbrella liability programs!  We offer every coverage you need including property, builders risk, inland marine, general liability, umbrella liability, auto, bid & performance bonds, workers’ compensation, N.Y.S. disability and group health.  We are extremely responsive, responsible, trustworthy, fast, minimize your insurance headaches, we don’t charge ridiculous policy or service fees and when you call, text or email, whatever time of day, even weekends, we are ARE THERE to help YOU!

BGES Group are Workers’ Compensation Insurance Specialists for Tri-State Business Owners: Unhappy with your rates, company, being cancelled, losses causing difficulty getting coverage, in the middle of an audit dispute, payrolls misclassified, whatever your issue, we can help!  We have special programs for: Auto Service, Contractors (especially New York), Limousine Services, Logistic Companies, Manufacturers, Recyclers, Truckers, we can help ANY tri-state business owner.  We are considered “Preferred Agents” for this one program that if we can get you in, their pricing is excellent, offers long-term coverage stability and can cover multi-state operations. Program takes the hassle out of doing annual audits too.

In addition, we offer all personal insurance coverages including home, auto, boat, jewelry, fine arts, life, disability, health and long-term care.  When was the last time you got a complete check up for all your coverage needs?   We are extremely caring and would love the chance to help you with your personal insurance needs.

BGES Group is an insurance agency whose owner is very responsible, responsive, offers boutique, very personal service and is ALWAYS there when you need him most!

We know reading an article we post or getting an email is not the best way to consider working with someone.  If you are interested, go read our “Google Reviews” and see what people have to say about us!  That can give you the comfort level needed to contact us.

If you would like to speak with us call Gary Wallach at 914-806-5853 or click here to email or click here to visit our website.

Company: BGES Group, 216A Larchmont Acres West, Larchmont, NY 10538

e-mail: bgesgroup@gmail.com

website: http://www.bgesgroup.com

© – Copyright – 2023 – BGES Group

LIFE INSURANCE text written in a notepad near a cup coffee, eyeglasses and pen on a wooden background. Business concept. Flat lay

Confused about your Medicare supplement options? You aren’t alone. As you reach the age of 65, you have a lot of decisions to make.

Most people understand that standard Medicare Part A coverage, or Part A and Part B, by themselves, offer a pretty skeletal medical benefit. Deductibles are significant, and without some additional protection in place, a medical problem can still pose a serious financial hardship for many seniors.

This is where Medigap comes in: Medigap helps fill the holes in standard, basic Medicare coverage, and reduce financial risk to seniors that may arise from illnesses and injuries.

While there is a lot of information to go through, because there are many options to choose from, the decision doesn’t have to be overwhelming. Here are some things to keep in mind to guide you as you navigate through your choices:

Medigap vs. Medicare Advantage

First understand the difference between Medigap coverage and Medicare Advantage. Medigap is a series of standardized, optional coverages which are stacked on top of your Medicare Part A and Part B benefits — and sometimes Part D.

Medicare Advantage — also called Medicare Part C -—is a way to access your Medicare benefits via a managed care plan. While you will still get your basic Medicare Part A and Part B coverage, provided you don’t opt out of Part B, Medicare Advantage plans vary from company to company, and plans may only be available in certain regions.

Medigap coverage is available anywhere in the country.

Whether you select a Medigap plan or a Medicare Advantage plan is your decision to make. There is no one-size-fits-all answer. But you only need one or the other. Whatever you do, you can’t have both.

Structure 

Medigap plans come in basic standard packages that are the same all over the country (except,  in Minnesota, Massachusetts and Wisconsin). The process for determining what Medigap plan best fits your needs is to determine what benefits you are interested in purchasing from this list:

• Part A Coinsurance and hospital costs (up to an additional 365 days after Medicare Part A benefits are exhausted)

• Part B coinsurance and copayment

• Blood (the first 3 pints)

• Part A hospice care coinsurance or copay

• Skilled nursing facility care coinsurance

• Part A deductible

• Part B deductible

• Overseas/foreign travel benefits

• Out-of-pocket limits

• High deductible plan (you must pay covered costs up to a $2,140 deductible before Medigap benefits apply.

From there, we can help you decide which of  the10 standardized Medigap coverage plans best fit your needs and budget. We can also help you compare the best-fit Medigap plan with Medicare Advantage plans available in your area.

At that point, you simply make a decision, and make your first premium payment.

Do I qualify?

There is generally no medical underwriting for Medicare supplement insurance: If you sign up when you are first eligible for Medicare, acceptance is normally guaranteed, regardless of your medical condition, provided you meet other requirements, you are enrolled at least in Medicare Part A and Part B.

For most people, the open enrollment period starts three months before their 65th birthday the month of their birthday and three months after. In subsequent years, you may generally make changes to your plan only during open enrollment periods.

If you miss the open enrollment period, your options will likely be more limited, but you still may be able to sign up for a plan. At that point, they can reject you based on your health and other factors. Call us to inquire about your options.

Other States

If you live in Massachusetts, Minnesota or Wisconsin, click the appropriate state for more information specific to your state, or discuss your specific situation with your agent.

If you would like to speak with us call Gary Wallach at 914-806-5853 or click here to email or click here to visit our website.

BGES Group, located in Larchmont, N.Y. are New York Construction Insurance Specialists that represent 50+ companies and all the BEST general & umbrella liability programs!  We offer every coverage you need including property, builders risk, inland marine, general liability, umbrella liability, auto, bid & performance bonds, workers’ compensation, N.Y.S. disability and group health.  We are extremely responsive, responsible, trustworthy, fast, minimize your insurance headaches, we don’t charge ridiculous policy or service fees and when you call, text or email, whatever time of day, even weekends, we are ARE THERE to help YOU!

BGES Group are Workers’ Compensation Insurance Specialists for Tri-State Business Owners: Unhappy with your rates, company, being cancelled, losses causing difficulty getting coverage, in the middle of an audit dispute, payrolls misclassified, whatever your issue, we can help!  We have special programs for: Auto Service, Contractors (especially New York), Limousine Services, Logistic Companies, Manufacturers, Recyclers, Truckers, we can help ANY tri-state business owner.  We are considered “Preferred Agents” for this one program that if we can get you in, their pricing is excellent, offers long-term coverage stability and can cover multi-state operations. Program takes the hassle out of doing annual audits too.

In addition, we offer all personal insurance coverages including home, auto, boat, jewelry, fine arts, life, disability, health and long-term care.  When was the last time you got a complete check up for all your coverage needs?   We are extremely caring and would love the chance to help you with your personal insurance needs.

BGES Group is an insurance agency whose owner is very responsible, responsive, offers boutique, very personal service and is ALWAYS there when you need him most!

We know reading an article we post or getting an email is not the best way to consider working with someone.  If you are interested, go read our “Google Reviews” and see what people have to say about us!  That can give you the comfort level needed to contact us.

If you would like to speak with us call Gary Wallach at 914-806-5853 or click here to email or click here to visit our website.

Company: BGES Group, 216A Larchmont Acres West, Larchmont, NY 10538

e-mail: bgesgroup@gmail.com

website: http://www.bgesgroup.com

© – Copyright – 2023 – BGES Group

Papers about types of medicare insurance and a stethoscope.

We Have Programs For:

• Auto Services

• Contractors especially New York

• Limousine Services

• Local & Long Haul Trucker

• Manufacturers

• Moving & Storage Agents

• Restaurants

• We can help any business owner get Workers’ Compensation coverage

Problems We Can Help You Solve:

1. Unhappy with your company’s rates?

2. Want to work with one very experienced person who always answers their phone and texts and emails back within minutes of hearing from you?  See for yourself.  Call Gary Wallach 914-806-5853 and ask him anything anytime.  Doesn’t matter if you are a client.  Gary will talk to you whenever you need help.

3. Operating in multiple states but your company only can cover you in your home state?  This can happen with state and assigned risk plans.

4. Interested in a pay-as-you-go program that only costs $200 to start coverage?

5. Sick of invasive annual audits.  Want to get away from them as much as possible?

6. Workers’ Compensation thru a payroll company that charges a lot of different fees?

7. Takes forever to get needed DOB or DOT C105.2’s ?

8. Agent charges you $25 to $50 for certificates?

9. High Experience Modification Factor (EMR) causing difficulty getting work?

10. Being cancelled due to poor loss experience?

11. Being non-renewed because your company no longer insures your type of business?

12. Payrolls not being properly classified?

13. Poor service from your insurance company or agent?

14. Takes hours or days to get certificates of insurance?

15. Paying a 10% service fee or $500 to $5,000 policy fee?

If you would like to speak with us call Gary Wallach at 914-806-5853 or click here to email or click here to visit our website.

BGES Group, located in Larchmont, N.Y. are New York Construction Insurance Specialists that represent 50+ companies and all the BEST general & umbrella liability programs!  We offer every coverage you need including property, builders risk, inland marine, general liability, umbrella liability, auto, bid & performance bonds, workers’ compensation, N.Y.S. disability and group health.  We are extremely responsive, responsible, trustworthy, fast, minimize your insurance headaches, we don’t charge ridiculous policy or service fees and when you call, text or email, whatever time of day, even weekends, we are ARE THERE to help YOU!

BGES Group are Workers’ Compensation Insurance Specialists for Tri-State Business Owners: Unhappy with your rates, company, being cancelled, losses causing difficulty getting coverage, in the middle of an audit dispute, payrolls misclassified, whatever your issue, we can help!  We have special programs for: Auto Service, Contractors (especially New York), Limousine Services, Logistic Companies, Manufacturers, Recyclers, Truckers, we can help ANY tri-state business owner.  We are considered “Preferred Agents” for this one program that if we can get you in, their pricing is excellent, offers long-term coverage stability and can cover multi-state operations. Program takes the hassle out of doing annual audits too.

In addition, we offer all personal insurance coverages including home, auto, boat, jewelry, fine arts, life, disability, health and long-term care.  When was the last time you got a complete check up for all your coverage needs?   We are extremely caring and would love the chance to help you with your personal insurance needs.

BGES Group is an insurance agency whose owner is very responsible, responsive, offers boutique, very personal service and is ALWAYS there when you need him most!

We know reading an article we post or getting an email is not the best way to consider working with someone.  If you are interested, go read our “Google Reviews” and see what people have to say about us!  That can give you the comfort level needed to contact us.

If you would like to speak with us call Gary Wallach at 914-806-5853 or click here to email or click here to visit our website.

Company: BGES Group, 216A Larchmont Acres West, Larchmont, NY 10538

e-mail: bgesgroup@gmail.com

website: http://www.bgesgroup.com

© – Copyright – 2023 – BGES Group

California employers cannot be held liable for the spread of COVID-19 cases by employees who contracted the disease on the job and spread it in their household, the California Supreme Court held on July 6.

In its unanimous decision, the court said that saddling employers with the duty of care beyond the workplace would impose a significant burden on California businesses, the court system and “the community at large.”

The decision should put employers at ease, since during oral arguments the justices raised concerns about an “avalanche” of lawsuits should employers be held liable for these so-called “take-home” COVID cases.

The case

The case of Corby Kuciemba, et al. vs. Victory Woodworks, Inc., involved an employee who contracted COVID-19 in the workplace and spread it to his wife, who was later hospitalized and at one point put on a ventilator to keep her alive.

The couple sued Victory Woodworks for negligence, premises liability and public nuisance. The federal court hearing the case sided with the employer, and the plaintiffs appealed the case to the Ninth Circuit Court of Appeals.

The Ninth Circuit, however, asked the California Supreme Court last year to determine if employers do have such a duty under state law.

In its ruling, the high court noted that courts in other states — namely Maryland, Wisconsin and Illinois — have sided with employers in similar cases.

The takeaway

While we are no longer in a pandemic, if the court had ruled that employers have a duty to protect non-employees from transmission, legal watchers say that it would have spurred people sickened in the early days of the pandemic to file suit.

Robert Dunn, a lawyer for the US Chamber of Commerce, told the court during oral arguments that if this case were allowed to proceed, it could apply more broadly to other contagious diseases, including the flu, from which thousands of Americans die every year.

The unanimous decision applies to similar cases that are currently pending and any prospective lawsuits that can still be filed under the two-year statute of limitations for negligence cases.

If you would like to speak with us call Gary Wallach at 914-806-5853 or click here to email or click here to visit our website.

BGES Group, located in Larchmont, N.Y. are New York Construction Insurance Specialists that represent 50+ companies and all the BEST general & umbrella liability programs!  We offer every coverage you need including property, builders risk, inland marine, general liability, umbrella liability, auto, bid & performance bonds, workers’ compensation, N.Y.S. disability and group health.  We are extremely responsive, responsible, trustworthy, fast, minimize your insurance headaches, we don’t charge ridiculous policy or service fees and when you call, text or email, whatever time of day, even weekends, we are ARE THERE to help YOU!

BGES Group are Workers’ Compensation Insurance Specialists for Tri-State Business Owners: Unhappy with your rates, company, being cancelled, losses causing difficulty getting coverage, in the middle of an audit dispute, payrolls misclassified, whatever your issue, we can help!  We have special programs for: Auto Service, Contractors (especially New York), Limousine Services, Logistic Companies, Manufacturers, Recyclers, Truckers, we can help ANY tri-state business owner.  We are considered “Preferred Agents” for this one program that if we can get you in, their pricing is excellent, offers long-term coverage stability and can cover multi-state operations. Program takes the hassle out of doing annual audits too.

In addition, we offer all personal insurance coverages including home, auto, boat, jewelry, fine arts, life, disability, health and long-term care.  When was the last time you got a complete check up for all your coverage needs?   We are extremely caring and would love the chance to help you with your personal insurance needs.

BGES Group is an insurance agency whose owner is very responsible, responsive, offers boutique, very personal service and is ALWAYS there when you need him most!

We know reading an article we post or getting an email is not the best way to consider working with someone.  If you are interested, go read our “Google Reviews” and see what people have to say about us!  That can give you the comfort level needed to contact us.

If you would like to speak with us call Gary Wallach at 914-806-5853 or click here to email or click here to visit our website.

Company: BGES Group, 216A Larchmont Acres West, Larchmont, NY 10538

e-mail: bgesgroup@gmail.com

website: http://www.bgesgroup.com

© – Copyright – 2023 – BGES Group

End of covid-19 epidemic concept erased with eraser

Employers Not Liable for COVID Cases

Cancer and other serious illnesses can be a severe financial hardship. Even with insurance and Medicaid, cancer treatment and recovery can involve significant out-of-pocket costs.

One study found that nearly half of cancer patients skipped or delayed treatments because of the costs. And a recent Duke University study found that a third of cancer patients with insurance found they were paying higher out-of-pocket costs than anticipated, consuming up to a third of their income and resulting in “high” or “overwhelming” financial stress.

A study presented at the 2014 “Palliative Care in Oncology Symposium” found 37% of cancer survivors reported modifying work plans or delaying retirement because of treatment costs. Also, 27% reported serious financial problems like debt or bankruptcy following a cancer diagnosis.

An up-front, lump-sum cash benefit

Cancer insurance pays an up-front, lump-sum benefit directly to you if you are diagnosed with a covered form of cancer. Unlike most health insurance benefits, the benefit doesn’t go to care providers or anyone else, unless you choose to assign a portion of the benefit to them.

Many of the real costs of a cancer diagnosis aren’t covered by medical insurance or Medicare. For example, you may want to use a doctor or hospital that is not part of your medical plan’s network. A cancer insurance policy can help you seek the best care providers in the country, and not be limited to what your insurance company is willing to cover.

Hidden costs

Cancer patients routinely face thousands of dollars in out-of-pocket expenses, even with health insurance. These include:

• Time off work while you focus on treatment and recovery

• Time off work for caregivers and loved ones

• Deductibles, co-insurance and copays

• Assisted living and long-term care facility costs

• Chemotherapy and radiation

• Prescription drugs

• In-home health services

• Housekeeping assistance

• Child care assistance

• Transportation, meals and lodging while away from home seeking treatment

• Cost of paying a family member to assist with care and recovery

• Experimental treatment.

Disability insurance and cancer

A short-term or long-term disability insurance policy can help offset a portion of lost income if you have to take time off work, but generally, disability insurance policies only replace about half of the income lost, and that’s only after an exclusion period.  Furthermore, disability insurance is normally only designed to replace lost income. A cancer insurance policy pays an up-front, lump-sum benefit on diagnosis. This puts the money in your pocket when you need it most.

Long-term care insurance

Long-term care insurance may pay a benefit, but only after an exclusionary period that could be as long as three to six months, and then only in extremely limited circumstances: The loss of your ability to perform at least two of six basic activities of daily living for six months or longer.

Cancer insurance, or a broader type of policy called critical illness insurance, is an affordable way to fill a significant gap in many people’s insurance protection.

Portability

Privately purchased cancer insurance policies are portable. That is, you can still keep the policy even if you leave your job. This is not necessarily true of workplace group insurance plans.

Considerations

Cancer insurance may be a good fit if you can afford the premiums, you have a family history of cancer, you are underinsured, or your medical insurance plan has a narrow care provider network or requires significant copays and co-insurance, or does not cover prescription drugs.

If you would like to speak with us call Gary Wallach at 914-806-5853 or click here to email or click here to visit our website.

BGES Group, located in Larchmont, N.Y. are New York Construction Insurance Specialists that represent 50+ companies and all the BEST general & umbrella liability programs!  We offer every coverage you need including property, builders risk, inland marine, general liability, umbrella liability, auto, bid & performance bonds, workers’ compensation, N.Y.S. disability and group health.  We are extremely responsive, responsible, trustworthy, fast, minimize your insurance headaches, we don’t charge ridiculous policy or service fees and when you call, text or email, whatever time of day, even weekends, we are ARE THERE to help YOU!

BGES Group are Workers’ Compensation Insurance Specialists for Tri-State Business Owners: Unhappy with your rates, company, being cancelled, losses causing difficulty getting coverage, in the middle of an audit dispute, payrolls misclassified, whatever your issue, we can help!  We have special programs for: Auto Service, Contractors (especially New York), Limousine Services, Logistic Companies, Manufacturers, Recyclers, Truckers, we can help ANY tri-state business owner.  We are considered “Preferred Agents” for this one program that if we can get you in, their pricing is excellent, offers long-term coverage stability and can cover multi-state operations. Program takes the hassle out of doing annual audits too.

In addition, we offer all personal insurance coverages including home, auto, boat, jewelry, fine arts, life, disability, health and long-term care.  When was the last time you got a complete check up for all your coverage needs?   We are extremely caring and would love the chance to help you with your personal insurance needs.

BGES Group is an insurance agency whose owner is very responsible, responsive, offers boutique, very personal service and is ALWAYS there when you need him most!

We know reading an article we post or getting an email is not the best way to consider working with someone.  If you are interested, go read our “Google Reviews” and see what people have to say about us!  That can give you the comfort level needed to contact us.

If you would like to speak with us call Gary Wallach at 914-806-5853 or click here to email or click here to visit our website.

Company: BGES Group, 216A Larchmont Acres West, Larchmont, NY 10538

e-mail: bgesgroup@gmail.com

website: http://www.bgesgroup.com

© – Copyright – 2023 – BGES Group

Self-portrait of a woman with cancer and her children. She is wearing a pink headscarf.

Harry and Sally live in Arizona. He’s 56 years old, she’s 58. They’ve been married 27 years, and now they’re calling it quits. In addition to the emotional pain, divorce means dividing up assets accumulated over the life of the marriage.

People naturally focus on houses, cars, retirement savings and other obvious assets when deciding who gets what. Less obvious but just as important — life insurance.

Older couples are splitting up at a faster rate than they used to. According to the Pew Research Center, divorce rates for couples in their 50s have doubled in the last 30 years. For those over age 65, the rate has tripled.

These are often couples who have amassed some wealth over time, and they are likely to have life insurance:

• It might be term policies purchased when their children were young because of the low premiums.
• It might be small amounts of insurance provided by their employers.
• It could be whole life or universal life policies purchased decades before as investment vehicles for college savings.

All of these policies represent potentially valuable assets to be divided up in the divorce settlement.

Life settlement brokers

Couples in the process of divorce should consult with a life settlement broker to help determine the market value of their life insurance policies.

A life settlement is the sale of an existing life insurance policy to a third party (someone other than the spouses) in exchange for a one-time cash payment. The third party receives the policy’s face value amount upon the death of the insured person. A life settlement broker can help estimate the price a third party might pay for a policy.

Life settlement brokers must be licensed by the insurance regulators in the states in which they operate. Check with the insurance department in your state if you need help locating a licensed broker.

Once the policy values have been established, there are several options, including:

• Let the policy lapse to save the cost of premiums.
• Leave the policy in force, with one spouse paying the premiums and the other remaining as beneficiary.
• Convert a term policy to a whole life policy, leave the beneficiary unchanged and have one spouse responsible for paying premiums.
• Convert a term policy to a whole life policy, sell that policy in a life settlement and split the proceeds.
• Use the proceeds from the sale of the policy to purchase new life insurance, an annuity, a long-term care insurance policy, or to invest in income-generating vehicles such as bonds or stock in utility companies.
• Invest the proceeds to fund grandchildren’s college educations, pay for weddings, help with down payments on first homes, or other personal use.
• Use the proceeds to cover uninsured costs from medical problems.

The takeaway

A divorce is never a happy occasion, and it is inevitably stressful for all involved. While older couples likely do not have to deal with child custody issues, they do have to equitably divide their assets, including their life insurance policies.

Working with a life settlement broker or professional life insurance agent can make that part of the division a little easier and help reassure both spouses that they are receiving fair settlements.

If you would like to speak with us call Gary Wallach at 914-806-5853 or click here to email or click here to visit our website.

BGES Group, located in Larchmont, N.Y. are New York Construction Insurance Specialists that represent 50+ companies and all the BEST general & umbrella liability programs!  We offer every coverage you need including property, builders risk, inland marine, general liability, umbrella liability, auto, bid & performance bonds, workers’ compensation, N.Y.S. disability and group health.  We are extremely responsive, responsible, trustworthy, fast, minimize your insurance headaches, we don’t charge ridiculous policy or service fees and when you call, text or email, whatever time of day, even weekends, we are ARE THERE to help YOU!

BGES Group are Workers’ Compensation Insurance Specialists for Tri-State Business Owners: Unhappy with your rates, company, being cancelled, losses causing difficulty getting coverage, in the middle of an audit dispute, payrolls misclassified, whatever your issue, we can help!  We have special programs for: Auto Service, Contractors (especially New York), Limousine Services, Logistic Companies, Manufacturers, Recyclers, Truckers, we can help ANY tri-state business owner.  We are considered “Preferred Agents” for this one program that if we can get you in, their pricing is excellent, offers long-term coverage stability and can cover multi-state operations. Program takes the hassle out of doing annual audits too.

In addition, we offer all personal insurance coverages including home, auto, boat, jewelry, fine arts, life, disability, health and long-term care.  When was the last time you got a complete check up for all your coverage needs?   We are extremely caring and would love the chance to help you with your personal insurance needs.

BGES Group is an insurance agency whose owner is very responsible, responsive, offers boutique, very personal service and is ALWAYS there when you need him most!

We know reading an article we post or getting an email is not the best way to consider working with someone.  If you are interested, go read our “Google Reviews” and see what people have to say about us!  That can give you the comfort level needed to contact us.

If you would like to speak with us call Gary Wallach at 914-806-5853 or click here to email or click here to visit our website.

Company: BGES Group, 216A Larchmont Acres West, Larchmont, NY 10538

e-mail: bgesgroup@gmail.com

website: http://www.bgesgroup.com

© – Copyright – 2023 – BGES Group

When a Marriage Fails, What Happens to the Couple’s Life Insurance?

Selective focus of magnifying glass,glasses and Insurance Policy letter on a white wooden background.

When you apply for life insurance, or open a retirement account, you’ll be asked to name beneficiaries. This is an important step in financial planning.

Failure to name beneficiaries can be a costly mistake, and one that can cause your loved ones a great deal of hardship after you’re gone.

What’s a named beneficiary?

A named beneficiary is the party who gets the life insurance death benefit, and/or the proceeds from an annuity or other financial account when you pass away. Generally, these should be individuals that you identify by name.

Why are beneficiaries important?

It’s crucial to list your beneficiaries by name, so that the money can go to these loved ones right away after you are gone.

If you fail to name a beneficiary, then that money will usually go into your estate. That means it will go through probate – an expensive process that can potentially take months or even years to complete.

When you don’t name a beneficiary, everything in that account goes to your estate, and to probate first, rather than to your heirs. Your family and loved ones will only get what’s left, after months of waiting.

Contingent beneficiaries

There are two kinds of beneficiaries – primary and contingent. A contingent beneficiary is the individual or entity who receives the money in the event that the primary named beneficiary cannot.

Naming a contingent beneficiary is important because it helps protect your family against the unexpected.

For example: What if you and your primary beneficiary were to die in the same car crash? If you have no contingent beneficiary, the assets would fall back into your estate. Your surviving children or grandchildren would not be able to inherit the money until after a lengthy probate process.

Accidental disinheritance

Suppose you had an estranged child, but also a loving and devoted stepchild who was very much a part of your life to the end? Unless you take steps to name the stepchild as a contingent beneficiary on your financial accounts, or provide for your stepchild by name in your will, the probate attorneys must divide your assets according to your state’s “intestate laws.”

These laws are a set of defaults that govern who will receive your assets in the event you die without a will. They don’t account for unadopted stepchildren.

Note: Beneficiary listings trump wills. If you have one person listed to receive your IRA assets or your life insurance proceeds in your will, and a different person listed as a beneficiary, the beneficiary listing will take precedence.

What to do now

It’s a good idea to physically look at all your financial accounts every year, and update both primary and contingent beneficiary listings. If you can answer “yes” to any of the following questions, you may need to update your accounts:

• Have you married or divorced in the last year?

• Does a divorce decree or property settlement agreement specify you have to name anyone in particular as a life insurance beneficiary?

• Have there been any deaths among your current beneficiaries?

• Do you have any stepchildren who need to be added?

• Do amounts need to be adjusted?

• Do you have children from a prior marriage? Do you want to keep them as beneficiaries?

• Have any new children or grandchildren been born? If so, what share should they receive?

• Are your current beneficiaries competent to receive the assets directly? Or should the assets go to a trustee or guardian?

A periodic review of all your beneficiary designations is an important step in the financial planning process. Don’t wait until it’s too late. Call us today.

If you would like to speak with us call Gary Wallach at 914-806-5853 or click here to email or click here to visit our website.

BGES Group, located in Larchmont, N.Y. are New York Construction Insurance Specialists that represent 50+ companies and all the BEST general & umbrella liability programs!  We offer every coverage you need including property, builders risk, inland marine, general liability, umbrella liability, auto, bid & performance bonds, workers’ compensation, N.Y.S. disability and group health.  We are extremely responsive, responsible, trustworthy, fast, minimize your insurance headaches, we don’t charge ridiculous policy or service fees and when you call, text or email, whatever time of day, even weekends, we are ARE THERE to help YOU!

BGES Group are Workers’ Compensation Insurance Specialists for Tri-State Business Owners: Unhappy with your rates, company, being cancelled, losses causing difficulty getting coverage, in the middle of an audit dispute, payrolls misclassified, whatever your issue, we can help!  We have special programs for: Auto Service, Contractors (especially New York), Limousine Services, Logistic Companies, Manufacturers, Recyclers, Truckers, we can help ANY tri-state business owner.  We are considered “Preferred Agents” for this one program that if we can get you in, their pricing is excellent, offers long-term coverage stability and can cover multi-state operations. Program takes the hassle out of doing annual audits too.

In addition, we offer all personal insurance coverages including home, auto, boat, jewelry, fine arts, life, disability, health and long-term care.  When was the last time you got a complete check up for all your coverage needs?   We are extremely caring and would love the chance to help you with your personal insurance needs.

BGES Group is an insurance agency whose owner is very responsible, responsive, offers boutique, very personal service and is ALWAYS there when you need him most!

We know reading an article we post or getting an email is not the best way to consider working with someone.  If you are interested, go read our “Google Reviews” and see what people have to say about us!  That can give you the comfort level needed to contact us.

If you would like to speak with us call Gary Wallach at 914-806-5853 or click here to email or click here to visit our website.

Company: BGES Group, 216A Larchmont Acres West, Larchmont, NY 10538

e-mail: bgesgroup@gmail.com

website: http://www.bgesgroup.com

© – Copyright – 2023 – BGES Group

LIFE INSURANCE text written in a notepad near a cup coffee, eyeglasses and pen on a wooden background. Business concept. Flat lay

Your workers’ underlying health can greatly affect the amount of time they are off the job recovering from a workplace injury.

Employees with pre-existing health issues like hypertension, obesity and mental health spend 60% more time recovering from workplace injuries than healthy workers, according to a study by Newport Beach, CA-based Harbor Health Systems.

These underlying health issues affect the cost of claims, increase temporary total disability (TTD) days, recidivism (aggravating of the original injury), and lead to more litigation and surgery, according to the industrial injury clinic’s analysis of 7,000 injured worker cases it handled.

The longer it takes for a worker to recover and return to work, the more expensive the claim becomes, which can affect the employer’s future workers’ comp premiums.

The findings illustrate the importance of trying to keep your employees healthy through wellness programs and access to health insurance to control their conditions.

The study looked at seven comorbidities:

• Obesity

• Diabetes

• Hypertension

• Addiction

• Mental health

• Tobacco use, and

• Multiple comorbidities (more than one of the above)

Shocking outcomes

The two comorbidities that have the greatest impact are multiple comorbidities and obesity, followed by addiction, mental health and hypertension, with diabetes and tobacco having the lowest impact.

Relationships between comorbidities — such as the link between obesity and diabetes – can exacerbate complications and health risks. The age of the injured worker is another factor that is associated with comorbidities and can complicate the management of a claim.

Duration and cost

• For claims involving multiple comorbidities, claim duration increased by 76%.

• For claims involving addiction, duration increased 67%.

• For claims involving obese individuals, duration increased 55%.

• For claims with multiple comorbidities, total incurred costs rose by 341%.

• Claims in all the comorbidity groups had significantly higher TTD days compared to the control group.

• TTD days increased by 285% for multiple comorbidities claims, and 274% for addiction-related claims.

Litigation

• Litigation rates for claims with multiple comorbidities are 147% higher compared to claims with no comorbidities.

• Litigation rates for claims of injured workers with an addiction are 224% higher.

• Litigation rates for claims of injured workers with mental health issues are 248% higher.

The takeaway

You can encourage your employees to improve their health through company wellness plans and ensure that they have access to health insurance to treat their medical issues.

Claims management experts say that insurance company adjusters need to intervene early in cases for injured workers with these comorbidities.

If you would like to speak with us call Gary Wallach at 914-806-5853 or click here to email or click here to visit our website.

BGES Group, located in Larchmont, N.Y. are New York Construction Insurance Specialists that represent 50+ companies and all the BEST general & umbrella liability programs!  We offer every coverage you need including property, builders risk, inland marine, general liability, umbrella liability, auto, bid & performance bonds, workers’ compensation, N.Y.S. disability and group health.  We are extremely responsive, responsible, trustworthy, fast, minimize your insurance headaches, we don’t charge ridiculous policy or service fees and when you call, text or email, whatever time of day, even weekends, we are ARE THERE to help YOU!

BGES Group are Workers’ Compensation Insurance Specialists for Tri-State Business Owners: Unhappy with your rates, company, being cancelled, losses causing difficulty getting coverage, in the middle of an audit dispute, payrolls misclassified, whatever your issue, we can help!  We have special programs for: Auto Service, Contractors (especially New York), Limousine Services, Logistic Companies, Manufacturers, Recyclers, Truckers, we can help ANY tri-state business owner.  We are considered “Preferred Agents” for this one program that if we can get you in, their pricing is excellent, offers long-term coverage stability and can cover multi-state operations. Program takes the hassle out of doing annual audits too.

In addition, we offer all personal insurance coverages including home, auto, boat, jewelry, fine arts, life, disability, health and long-term care.  When was the last time you got a complete check up for all your coverage needs?   We are extremely caring and would love the chance to help you with your personal insurance needs.

BGES Group is an insurance agency whose owner is very responsible, responsive, offers boutique, very personal service and is ALWAYS there when you need him most!

We know reading an article we post or getting an email is not the best way to consider working with someone.  If you are interested, go read our “Google Reviews” and see what people have to say about us!  That can give you the comfort level needed to contact us.

If you would like to speak with us call Gary Wallach at 914-806-5853 or click here to email or click here to visit our website.

Company: BGES Group, 216A Larchmont Acres West, Larchmont, NY 10538

e-mail: bgesgroup@gmail.com

website: http://www.bgesgroup.com

© – Copyright – 2023 – BGES Group

Workers Compensation is shown on a business photo using the text

OSHA encourages employers to investigate all accidents in which a worker was hurt, as well as close calls — sometimes called “near misses” — in which an individual might have been injured if the circumstances had been slightly different.

The agency suggests using the term “incident investigation,” since nearly all accidents are preventable.

Reasons to investigate

Investigating a worksite incident — whether a fatality, injury, illness or close call — provides employers and workers the opportunity to identify hazards in their operation and shortcomings in their safety and health programs.

Most importantly, it enables employers and employees to identify and implement the corrective actions necessary to prevent future incidents.

Incident investigations that focus on identifying and correcting root causes, and not on finding fault or blame, also improve workplace morale and increase productivity.

The purpose of the investigation is to:

• Establish the facts,

• Find the real causes(s),

• Determine responsibility for the accident,

• Gather sufficient evidence, and

• Support a strong liability defense.

Such investigations should include managers and employees working together, since each bring different knowledge, understanding and perspectives to the investigation.

Following an incident, you should:

• Gather all pertinent information through interviews.

• Collect the necessary forms and documents to prove your company has met its legal, safety and insurance requirements.

• Identify, fix and communicate all known potential hazards to your employees.

• Be sure you don’t overlook any documents, evidence or details that can add to the company’s liability defense.

Failure to investigate

Without conducting an incident investigation to discover what happened and why, proving you’ve met your obligation is an uphill battle, and one that could hurt your company in several ways, including:

• Higher costs, fines, legal fees, damages, medical fees and insurance premiums.

• Poor public relations in your local community that the company is not caring for employees, making it difficult to hire and retain workers.

• A strain on operations, by having to hire and train new workers.

You have an obligation to report any serious incidents to OSHA within eight hours for a fatality, and 24 hours for a severe injury. Remind supervisors and managers to choose their words carefully when speaking to OSHA or inspectors and investigators.

For more information on accident/incident investigations, give us a call.

If you would like to speak with us call Gary Wallach at 914-806-5853 or click here to email or click here to visit our website.

BGES Group, located in Larchmont, N.Y. are New York Construction Insurance Specialists that represent 50+ companies and all the BEST general & umbrella liability programs!  We offer every coverage you need including property, builders risk, inland marine, general liability, umbrella liability, auto, bid & performance bonds, workers’ compensation, N.Y.S. disability and group health.  We are extremely responsive, responsible, trustworthy, fast, minimize your insurance headaches, we don’t charge ridiculous policy or service fees and when you call, text or email, whatever time of day, even weekends, we are ARE THERE to help YOU!

BGES Group are Workers’ Compensation Insurance Specialists for Tri-State Business Owners: Unhappy with your rates, company, being cancelled, losses causing difficulty getting coverage, in the middle of an audit dispute, payrolls misclassified, whatever your issue, we can help!  We have special programs for: Auto Service, Contractors (especially New York), Limousine Services, Logistic Companies, Manufacturers, Recyclers, Truckers, we can help ANY tri-state business owner.  We are considered “Preferred Agents” for this one program that if we can get you in, their pricing is excellent, offers long-term coverage stability and can cover multi-state operations. Program takes the hassle out of doing annual audits too.

In addition, we offer all personal insurance coverages including home, auto, boat, jewelry, fine arts, life, disability, health and long-term care.  When was the last time you got a complete check up for all your coverage needs?   We are extremely caring and would love the chance to help you with your personal insurance needs.

BGES Group is an insurance agency whose owner is very responsible, responsive, offers boutique, very personal service and is ALWAYS there when you need him most!

We know reading an article we post or getting an email is not the best way to consider working with someone.  If you are interested, go read our “Google Reviews” and see what people have to say about us!  That can give you the comfort level needed to contact us.

If you would like to speak with us call Gary Wallach at 914-806-5853 or click here to email or click here to visit our website.

Company: BGES Group, 216A Larchmont Acres West, Larchmont, NY 10538

e-mail: bgesgroup@gmail.com

website: http://www.bgesgroup.com

© – Copyright – 2023 – BGES Group

Builder injury accident falling scaffolding to the floor. Basic first aid training for support accident in site work, Safety team help employee accident.