Life Insurance for Young Families

Protecting Your Loved Ones Today and Tomorrow

When you’re a young parent, life is a whirlwind of diapers, first steps, and sleepless nights. Amid the chaos and joy of raising a family, one important consideration that often gets overlooked is life insurance. It’s easy to assume that life insurance is something you can put off until later in life, but the reality is that it’s essential, especially for young families. In this article, we’ll explore why life insurance is crucial for young families and provide guidance on choosing the right policy to protect your loved ones today and tomorrow.

Why Life Insurance Matters for Young Families

1. Financial Protection

The primary purpose of life insurance is to provide financial protection for your loved ones in case of your untimely death. It ensures that your family has the financial resources they need to maintain their quality of life, pay for ongoing expenses, and achieve future financial goals, even in your absence.

2. Covering Immediate Expenses

Life insurance can cover immediate expenses that arise after your passing. This includes funeral and burial costs, medical bills, and any outstanding debts. Without life insurance, your family may struggle to meet these financial obligations during an already emotionally challenging time.

3. Replacing Lost Income

For most young families, a significant portion of their financial security depends on the income of one or both parents. If one spouse passes away, the loss of that income can be devastating. Life insurance can replace lost income, ensuring that your family can continue to meet their financial needs.

4. Providing for Your Children’s Future

Life insurance can fund your children’s education and provide for their future needs. Whether it’s paying for college tuition, helping them buy their first home, or providing financial support as they start their own families, life insurance ensures that your children have the opportunities they deserve.

5. Paying Off Debts and Mortgages

Life insurance can be used to pay off outstanding debts and mortgages. This helps your family avoid the burden of debt payments and allows them to keep their home, even if they face financial challenges after your passing.

Choosing the Right Life Insurance for Your Family

Now that you understand why life insurance is essential for young families, let’s explore how to choose the right policy:

1. Determine Your Coverage Needs

The first step in selecting life insurance is determining how much coverage you need. Consider your family’s financial obligations, including mortgage payments, monthly bills, and future expenses like education. A common rule of thumb is to have coverage that’s at least 10-15 times your annual income.

2. Choose the Right Type of Policy

There are two primary types of life insurance: term life and permanent life.

  • Term Life Insurance: Term life insurance provides coverage for a specified term, such as 10, 20, or 30 years. It’s often more affordable and ideal for young families looking for cost-effective coverage during their peak earning years.
  • Permanent Life Insurance: Permanent life insurance, which includes whole life and universal life, provides coverage for your entire life and includes a cash value component. While it’s more expensive, it can serve as a long-term financial asset and estate planning tool.

Consider your family’s needs and budget when deciding between term and permanent life insurance.

3. Calculate Premiums and Budget

Get quotes from multiple insurance providers to calculate premiums for different coverage amounts and policy types. Determine how much you can comfortably budget for life insurance premiums, keeping in mind that affordable term life insurance can provide substantial coverage.

4. Review Policy Riders

Life insurance policies often offer additional riders that can enhance your coverage. Common riders include:

  • Waiver of Premium: This rider allows you to stop paying premiums if you become disabled and are unable to work.
  • Child Rider: Provides coverage for your children’s life insurance needs.
  • Accelerated Death Benefit: Allows you to access a portion of your policy’s death benefit if you’re diagnosed with a terminal illness.

Evaluate whether these riders are beneficial for your family and consider adding them to your policy if they align with your needs.

5. Work with a Reputable Agent

Consulting with an experienced and reputable insurance agent can be invaluable when choosing the right life insurance policy. An agent can help you navigate the complexities of life insurance, provide personalized recommendations, and ensure that you fully understand the policy you’re purchasing.

6. Review and Update Regularly

Life insurance needs can change over time due to factors such as family size, income, and financial goals. It’s essential to review your life insurance policy regularly, especially after major life events like the birth of a child or a change in income. Adjust your coverage as needed to ensure that it continues to meet your family’s needs.

Life insurance is a vital component of financial planning for young families. It provides the peace of mind that comes with knowing your loved ones will be financially secure even if the unexpected occurs. By determining your coverage needs, selecting the right policy type, and working with a trusted agent, you can secure the financial future of your family and ensure that your children have the opportunities they deserve. Don’t delay—take the necessary steps to protect your family today and tomorrow with the right life insurance coverage. For more information or to find a policy that is right for you, contact our team at 607-547-2951.  

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Protecting Your Loved Ones (Life Insurance Awareness Month)

Life Insurance – Do It for Love!

It’s called Life Insurance, but it could just as easily be labeled Love Insurance. Buying life insurance is really an expression of love. It lets loved ones know that you care so much that you’ve made plans to provide for their well-being…even after you’re gone.

So if protecting the ones you love is important to you, please spend a few minutes reviewing the information available at https://lifehappens.org/life-insurance-101/.  You’ll learn information about who needs life insurance as well as a few tools to help you determine how much and what kind of life insurance might be right for you.

There are many kinds of life insurance, but they generally fall into two categories: term life insurance and permanent insurance. A short overview of these is provided below.

Term Life Insurance

Term Life is the most affordable type of insurance when initially purchased, is designed to meet temporary needs. It provides protection for a specific period of time (the “term”) and generally pays a benefit only if you die during the term. It is often a good choice for people in their family-formation years, especially if they’re on a tight budget, because it allows them to buy high levels of coverage when the need for protection is often greatest.

Term insurance is also a good option for covering needs that will disappear in time. For instance, if paying for college is a major financial concern but you’re pretty sure that you won’t need life insurance coverage after the kids graduate, then it might make sense to buy a term policy that’ll get you through the college years. If you buy a term policy only to realize at the end of the term that you still have a need for life insurance, the good news is that many policies will give you the option to renew your policy. The bad news is that you may face higher costs since age is one of key factors used to determine life insurance premiums. If your health has deteriorated significantly, you may find that coverage is no longer affordable. So if you’re considering a term policy, make sure you carefully consider how long you’ll need the coverage. If you’re pretty sure that your needs are temporary, then term insurance is probably the right choice. But if you think there’s a possibility that you might need the coverage for a long time, then you might want to include some permanent life insurance in your financial plans.

Whole Life Insurance

Whole life insurance provides lifelong protection, and the ability to accumulate cash value on a tax-deferred basis. Unlike term insurance, a permanent insurance policy will remain in force for as long as you continue to pay your premiums. Because these policies are designed and priced for you to keep over a long period of time, this is probably the wrong type of insurance for you if you don’t have a long-term need for life insurance coverage.

Why would someone need coverage for an extended period of time? Because contrary to what a lot of people think, the need for life insurance often persists long after the kids have graduated college or the mortgage has been paid off. If you died the day after your youngest child graduated from college, your spouse would still be faced with daily living expenses. And what if your spouse outlives you by 10, 20 or even 30 years, which is certainly possible today. Would your financial plans, without life insurance, enable your spouse to maintain the lifestyle you worked so hard to achieve? Another key characteristic of permanent insurance is that it includes a savings component, often referred to as “cash values.” These accumulate on a tax-deferred basis just like assets in most retirement and tuition savings plans, and can be used in the future for any purpose you wish. If you like, you can borrow cash value for a down payment on a home, to help pay for your children’s education or to provide income for your retirement. When you borrow money from a permanent insurance policy, you’re using the policy’s cash value as collateral and the borrowing rates tend to be relatively low. And unlike loans from most financial institutions, the loan is not dependent on credit checks or other restrictions. You ultimately must repay any loan with interest or your beneficiaries will receive a reduced death benefit and cash-surrender value.

It’s impossible to say which type of life insurance is better because the kind of coverage that’s right for you depends on your unique circumstances and financial goals. Often, a combination of term and permanent insurance is the right solution. If you have questions on life insurance, please contact our team for more information and we’ll be happy to help.  You can reach us in Cooperstown at 607-547-2951.



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Supplementing Your Retirement Income

Securing Your Finances During Your Golden Years

Retirement is a significant milestone, but it often comes with financial challenges. With increasing life expectancies and the uncertainties of economic landscapes, relying solely on traditional pension plans and Social Security may not be enough to maintain your desired lifestyle. Supplementing your retirement income in other ways becomes essential for financial security and peace of mind. The strategies below can help to bolster your retirement income, ensuring a comfortable and worry-free post-work life.

Embrace the Gig Economy:

The gig economy has transformed the way people work, offering flexible opportunities for those looking to supplement their income. Whether it’s freelancing, consulting, or participating in the sharing economy, consider leveraging your skills and expertise for additional earnings. Websites and platforms dedicated to freelancers and gig workers provide a plethora of opportunities across various industries.

Downsize and Monetize Assets:

Consider downsizing your living space and monetizing assets to free up cash for retirement. If you own a large home, selling it and moving to a smaller, more affordable residence can generate funds for your retirement years. Additionally, unused or underutilized assets such as a second home, recreational vehicles, or collectibles can be sold to add to your financial cushion.

Real Estate Investments:

Real estate can be a lucrative avenue for supplementing retirement income. Rental properties can provide a steady stream of passive income, and real estate values tend to appreciate over time. Research potential investment properties carefully, considering factors such as location, market trends, and potential rental income. Real estate investment trusts (REITs) offer another option for individuals looking to invest in real estate without the responsibilities of property management.

Explore Part-Time Employment:

Part-time employment can be an excellent way to stay active, engaged, and supplement your retirement income. Look for opportunities that align with your skills and interests, and explore options with flexible schedules. Many industries, including retail, education, and consulting, value the experience and expertise of retirees.

Invest Wisely:

Proper investment strategies are crucial for maximizing your retirement income. Diversify your investment portfolio to manage risks and capitalize on potential returns. Consider consulting with a financial advisor to develop a well-balanced investment plan that aligns with your risk tolerance, time horizon, and financial goals. A mix of stocks, bonds, and other investment vehicles can provide a steady income stream during retirement.

Start a Side Business:

If you have a passion or a hobby, consider turning it into a small business. The digital age has made it easier than ever to start and run a business from the comfort of your home. Whether it’s selling handmade crafts, offering consulting services, or starting an online store, a side business can generate supplemental income while allowing you to do something you enjoy.

Tap into Home Equity:

Homeownership can be a valuable asset in retirement. Consider tapping into your home equity through a reverse mortgage or a home equity line of credit (HELOC). These options allow you to convert a portion of your home’s value into cash without selling the property. However, it’s essential to carefully evaluate the terms, risks, and potential impact on your long-term financial stability.

Delay Social Security Benefits:

While Social Security benefits are available as early as age 62, delaying them can result in higher monthly payments. For each year you delay beyond your full retirement age, your benefit increases. If possible, consider waiting until age 70 to start receiving Social Security, as this can significantly enhance your monthly income during retirement.

Health Savings Accounts (HSAs) for Retirement:

Health Savings Accounts are designed to cover qualified medical expenses, but they can also serve as a powerful tool for retirement savings. Contributions to an HSA are tax-deductible, and withdrawals for qualified medical expenses are tax-free. If you don’t use the funds for medical expenses during your working years, you can withdraw them penalty-free for non-medical expenses in retirement.

Annuities for Guaranteed Income:

Annuities are financial products that provide a guaranteed stream of income in retirement. While there are various types of annuities with different features, some offer fixed payments for a specified period or even for life. Annuities can provide peace of mind by ensuring a stable income source, but it’s crucial to carefully review the terms and consider consulting a financial advisor before making this commitment.

Supplementing your retirement income requires careful planning, a diversified approach, and a willingness to explore new opportunities. By embracing the gig economy, downsizing, investing wisely, and tapping into various income streams, you can build a robust financial foundation for your retirement years. It’s essential to stay informed, adapt to changing economic landscapes, and regularly reassess your financial plan to ensure that it aligns with your goals and aspirations. With thoughtful consideration and strategic decision-making, you can enjoy a secure and fulfilling retirement without the constant worry of financial constraints.

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Think about Insurance BEFORE you Need it

Think about Insurance BEFORE you Need itOne of the most important things we can tell our clients is to think about insurance before you actually have a need for it.  If there is one thing we have all learned over this past year, it is that life can be unpredictable.  While it may be hard to imagine the kinds of things that can happen that upend our lives, there are some systematic ways to assess some of the basics.

Take Time to Review Your Coverage

An annual review of your insurance coverage is a process that can help you to evaluate your risks, along with any changes that might be needed to your policies.  What home improvements have you recently made? Are you planning on making any changes in the coming year?  Are you looking for a job change? Did you have a child ? Have you purchased a new car?  Do you have a teenager ready for a learner’s permit or new drivers license?  Are you protected in the event of a fire or a flood?

It’s hard to prepare for the unknown and unexpected, but if you take some time – even just for a few hours once a year – to consider whether or not to make changes to your insurance to more accurately protect your assets (and yourself), the value can be tremendous.

In light of today’s construction costs, it may cost more than you expect to rebuild or repair your home.  Is your coverage keeping up with inflation?  Does your current insurance policy still protect you in the event of an emergency?  Check with our team to learn if you are covered in the event of an accident or natural disaster.  We may be able to help you make modifications to your policy to make sure you are properly protected.

Just over the last 10 years, we have seen several flood events in our region with communities that have been hard hit with damages.  With changes to our climate, these events are likely to occur more and more frequently.  If you are not sure if you would be covered in a similar type of event, schedule an appointment with your team so that we can help you interpret your policies to make sure you are secured with a level of protection that makes sense for your specific needs.

If we could tell you one thing, it would be “Don’t put this off”.  Take the time today to assess your risk, document your current assets and their value and take action to protect yourself with appropriate coverage – before you need it!  As always, our team is ready to assist.  Call us for an appointment at 607-547-2951 or submit our Contact Form Here.

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How Covid-19 is Changing Life Insurance

Life insurance is a necessity for most adults. Protecting and providing for your family is important should something happen to you. With how drastically our world has changed over the past few months, you may wonder if the life insurance industry has shifted as well.

Life insurance has always been important and relevant for people who have financial dependents, but the true value of it has come into focus. It is about the entire financial security of your loved ones. It is even more important now that we have seen firsthand what a pandemic can do. Views of life insurance and the corresponding policies have shifted slightly.

How Consumers Views of Life Insurance Have Changed

The way people look at life insurance has changed:

  • People are thinking about it more.
    With a pandemic and life being changed so much, people are more concerned about their families and the future. There are so many unknowns and people want to be sure their families are protected. This concern helps bring life insurance back to top of mind for many people. Many life insurance providers have seen an increase in applications during this time. If you have financial dependents, you should look at getting the proper life insurance coverage now.
  • An easy online application is needed.
    Because people are not risking going out as much, the life insurance application needs to be fast, easy and available online. People do not want to go out unecessarily at this time because they are concerned about their health. Because of this, applications need to be quick. Many insurance companies have expanded their automated underwriting processes to help account for this shift in mindset.
  • Affordable and flexible coverage is important.
    Many people are currently unemployed and the economy is struggling. People may be overly cautious when it comes to spending money. They are looking for more affordable life insurance premiums.
  • Exceptional customer service is imperative.
    Life insurance is something that most people do not want to think about. Death is a scary thing and life insurance can be confusing. People will want to talk with someone they trust and someone who will answer questions quickly. They will not want to have to take the time to search out information on their own. A company that is easy to work with is invaluable during this process.
  • Reliability is a high priority.
    People may be finding it difficult to see friends and family during this time. They are connecting more virtually. With this uncertainty hanging over them, they will want something more reliable. They want to work with an insurer who they can count on to be there when they are needed.


How Life Insurance Practices and Policies Have Changed

Review these considerations when assessing life insurance:

  • Active policy will not change.
    If people already have an active life insurance policy in place, they do not need to worry about not being covered. Your policy is secure and will not change.
  • Exams are still being required in many cases.
    Even though people are not going out as much, exams will probably still be required. Many insurers use third party companies, who will follow closely with CDC guidelines to ensure patients’ safety.
  • Age restrictions could factor in.
    The full effects of the virus are yet to be seen and some companies may impose limits for those applying for life insurance. Some places have stopped issuing new polcies for people who are over 70 years of age. Applying earlier rather than later is essential, especially with how things are right now.
  • Disclosure of travel.
    Another thing that could factor into your application is travel abroad. This is usually a consideration if you have traveled within the past 30 days. It is important that you are specific on your application and do not omit information because you are worried about getting approved. Your application could be postponed if you traveled to high-infection areas.
  • If you currently have coronavirus, it could affect getting approved.
    Insurers are asking people with coronovirus to wait to apply for coverage. You will need to disclose your medical history and whether you are currently sick. Coronavirus has the potential to make someone terminally ill very quickly, so you may not be able to get a guaranteed issue policy until you have recovered.
  • Otherwise, do not wait out pandemic before getting coverage.
    With the looming pandemic, many people are avoiding doing certain things. Acquiring life insurance should not be one of them. It is even more important to have this protection during times of crisis.
  • Changes are company-dependent.
    The changes above are things to consider, but you need to confirm any policies with the individual insurer.

Our team can help you with any questions you may have about life insurance. Contact us at Bieritz Insurance today.

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8 Factors That Can Impact Your Life Insurance Coverage

When you are looking to protect yourself and your family, you need to consider life insurance. Life insurance is the financial security net that helps your family get through a rough time. But, when shopping for life insurance coverage there are several factors that can impact your premiums. These factors can include your age and gender. A carrier will also take into consideration not only your health history but your family’s. The carrier may also look at what you do for your career and your hobbies. Your choice in your insurance coverage also affects your premium.


Life insurance coverage relies heavily on the age of the applicant. If you apply for life insurance when you are younger, the cost of the premium is lower. The older you get, the more costly the life insurance becomes because the possibility of health risks increases. Many investors suggest purchasing life insurance for your children when they are small. The lowest cost for life insurance is shortly after birth.


Another factor is your gender. If you are a female, you have an advantage. A life insurance policy will cost less for a female because studies show that females have a longer life expectancy. With a longer life, females can pay the insurance premiums for a longer period of time. So if a female pays less for life insurance that means that a man will pay higher life insurance premiums. Since a man has a shorter life expectancy, a man will not pay the premiums for as long a period of time as a woman.

Your Health History

When completing the life insurance application, you will need to answer several questions about your health. The insurance carriers are looking for health conditions that could affect your life. These health conditions may include:

  • Heart disease
  • Diabetes
  • High blood pressure
  • Cancer
  • Cholesterol
  • Body metrics and body mass index

When applying for life insurance, the carrier may also require you to have a medical exam. This exam may include blood work and other lab work to make sure everything is in the normal ranges. The medical exam may also provide insight into possible health problems that may occur later on. Your health history does affect your life insurance premiums. The fewer the serious health conditions you have the lower your premiums are likely to be.

Family Health History

Even if you currently do not have any medical conditions, your family health history can provide information on possible health problems that are hereditary. If your family has a history of high blood pressure, you have a higher risk for heart disease. This family health blueprint helps the insurance companies understand the possible health issues that can arise later in life and charge the life insurance premiums accordingly.


Insurance carriers will charge a smoker a higher premium because of the additional health risks. If you smoke, you put yourself at risk for lung disease and cancer. These are serious health conditions that may not occur if you did not smoke.

If you were a former smoker, your premiums may still remain high depending upon when you quit. If you recently quit, the carrier may not accept your status as a non-smoker. You may not start seeing a decrease in the premiums until you hit several years of being tobacco free.


Another aspect that insurance companies look at is the hobbies you have. You can have a potentially higher premium if you have hobbies like rock or mountain climbing, skydiving, deep sea diving, flying a plane or racing a car. The higher the risk in the hobby causes the higher premium. The definition of high risk activities may vary by carrier, so you may want to get multiple quotes.

Career Choice

It is not uncommon for your career choice to play a role in the insurance premiums. If you have a career that is high risk, your premiums are higher. These high risk careers may include:

  • Racecar driver
  • Pilot
  • Iron worker
  • Police officer
  • Firefighter
  • Highway construction worker
  • Drivers
  • Stunt person

These careers have a higher possibility of injury so the premiums on the insured are going to be high.

Insurance Coverage

The coverage you choose will also impact the cost of the coverage. If you choose a policy with a higher value, the effect is an increase in the premium. The direct relationship between the policy value and premium occurs because the more coverage you want the higher the premium. So if you need to control the insurance costs, you should look for a smaller value to reduce the premiums.

No matter what life insurance policy you choose, make sure you get multiple quotes to ensure you are getting the most for your money. Contact our team at Bieritz Insurance for a free quote. We work with many companies in order to find you the right coverage to meet your needs at the right cost.

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How much life insurance is enough?

How much life insurance is enough?

Life insurance might be unpleasant to think about, but it can be devastating to ignore. If there are people who depend on you economically, you owe it to them to prepare for their financial futures in case you die before you’re able to take care of them yourself. Most people already know that they need some life insurance, how much is the appropriate amount? Though there’s no exact number we can give you, considering the proper amount is different for everyone depending on their financial situations, however, here are some general rules you should consider when choosing the policy that’s right for you.

What are Your Expenses?

Before buying life insurance, first, you need to figure out what your policy is going to need to cover should you pass away untimely. Keep these costs in mind when researching life insurance.


How much debt do you owe? The last thing you want is for your dependents to be left with your financial burden after they’ve already lost the income you produce. Therefore, make sure that your policy can satisfy any debt still pending.


Calculate how much money it would take to pay off the mortgage on your house and add that amount to your financial obligations.  


Do you have children whom you would like to send to college? Make sure you still can even if you’re no longer alive to personally see it through by adding roughly 100,000 dollars per child to your policy, covering all educational expenses.

Daily Expenses

Aside from the significant expenses listed above, you cannot forget about the day-to-day cost of living. Food, car insurance, doctor visits, utilities, taxes, etc. Though they may not seem like a mountainous burden and do not need to be paid off all at once, the daily expenses of your loved ones must not go ignored.    


Nobody knows your financial situation as well as you do, so think carefully about any other expenses your family may be left with in the case of your passing. For example, if you are a stay-at-home parent, then add to your policy the cost of child care services. What about funeral expenses? Does one of your dependents have a serious medical condition that may lead to costly hospital bills? Whatever variables exist in your life, you need to discern the price and make sure your policy can account for it.  

Finding the Best Policy

What are the Costs?

Though there is no way to find the perfect amount of life insurance you need down to the penny, this guide should get you as close as possible. First, add of your annual salary and multiply it by ten. Then add any mortgage, debt, or educational expenses. This should be enough for whatever your loved ones require to live in comfort without any extreme financial burdens.

What Assets do You Already Have?

After you’ve calculated how much your dependents need, subtract from that amount any liquid assets such as existing life insurance plans, savings, amount already invested in college funds, etc., so you are not paying more than necessary.

Term Policies Versus Whole Policies

Term Policies

Since our lives are changing continually—you could move to another state, get another job, have a new baby, etc.—it may be a good idea to get multiple, smaller ‘term’ life policies rather than a single ‘whole’ policy, that way you could save money while getting the same amount of coverage. For example, instead of buying one plan for all of your dependents that lasts forever, you can buy one 30-year terms policy to protect your spouse until your retirement, and a 20-year term policy for your children until they are ready to graduate from college. Term policies are useful, especially for younger people, recently married, with small children, because they are meant to cover your dependents in case you die before their financial needs are met, meaning you can spend less while still getting the security you need.

Whole Policies

Then, once you outlive your term policies, you can turn them into whole policies which grow in value with time and are tax-deferred. Whole policies are single, general needs policies usually meant to cover funeral expenses and estate taxes. You may even be able to earn annual dividends on your whole life insurance policy; money that can be reinvested or taken as a tax surplus. Therefore, whole life insurance policies can almost be thought of as an investment.

Knowing the differences between term policies and whole policies can be the difference between you paying much more than you should, and you spending precisely what you need to protect your family and invest in the future.            

Life insurance is not only painful to think about, but it can be somewhat confusing as well. Fortunately, it’s not as difficult as it seems, and hopefully, this article was able to provide you with some insight into this critically important topic.    If you would like any additional information, please contact our team at Bieritz Insurance Agency at (607) 547-2951.

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Life Insurance: Term vs. Whole

Life Insurance: Term vs. WholeLife insurance isn’t a sexy topic, but at some point, it is one that most people have to think about.  The question of what happens to your family in the event of your death is an important one to consider.  This comes about sometimes after significant life status events – perhaps a marriage, the birth of a child or purchasing a home.  Life insurance helps protect your loved ones in the event of your death. It can cover your funeral expenses, pay off your mortgage or provide resources to replace your income for a period of time.  Two of the more prevalent types of life insurance are term life and whole life.  Knowing a bit about the differences between these two types of insurance can help you to decide which might be the best product for your needs.

Term life insurance covers you in the event of premature death within the specific term of your policy which is usually set up with a term of 10, 20 or 30 years.   Term life policies are typically straight forward – if you die within the term, the policy pays your beneficiaries the amount of your policy coverage.  The premium amount and the payout remain at fixed amounts throughout the term of the policy.  Because there is no cash value to the product and most people live through the end of their term, the premiums on this type of policy remains affordable (about 1/4 of the costs for whole life insurance).  In some cases, term life can be converted to whole life coverage at the end of the term.

Whole life insurance is a form of permanent life insurance and includes an investment component.  Your premiums are typically tax-deferred and the cash value of your policy grows with time.  You can borrow against your account or cash out/surrender the policy in the future if you need to.  The policy premium remains the same for life and the death benefit is guaranteed.  Whole life insurance premiums are higher than term life, primarily because the benefit is guaranteed.  It can provide for funeral costs, estate taxes, and more, depending on the amount of your policy coverage. Some policies can also earn annual dividends that can be re-invested back into the policy or taken as surplus income.

To learn more about which kind of policy might best suit your needs, schedule an appointment with our team at Bieritz Insurance.  We are happy to look into options and provide you with the information to make a decision that makes the most sense for you and your family.  You can contact us in Cooperstown at 209 Main Street, (607) 547-2951 or in Morris at 128 Main Street, (607) 263-5170.


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Life Insurance – It’s About Love

Today is Valentine’s Day, the second most popular gift and card-giving day of the year (Christmas is the first).  It is a designated day to recognize the people we love and let them know how much they mean to us, often through tokens of affection, dinner, candy, flowers, etc.  It is also the perfect time to think about Life Insurance.

It might not be the most romantic of thoughts, but making sure you are adequately insured provides financial protections for those you love.  The emotional burden of losing a loved one is difficult enough – life insurance helps to make sure that financial concerns don’t add to that burden.


Life Insurance can be beneficial to everyone: single or married people; those with or without children; younger or older.  It can be a means to cover funeral costs, medical expenses, to pay off existing debt or to provide income replacement.  Everyone has different life insurance needs depending their individual situation and goals.

We can help answer your questions – Do you need it?  If so, how much do you need? What are the different types of Life Insurance?  How much does it cost?  While you probably want to stick with the candy and flowers for today, tomorrow is a good time to take action if you are not currently insured.

Do it for Love.

Did you know…

Did you know your Life insurance policy can also help you pursue your savings goals? Video courtesy of Security Mutual:

209mainstBieritz Insurance Agency is an independent agency working with over 20 companies to offer our customers a variety of options, and find the right product and company to fit your needs. We operate in the beautiful Leatherstocking Region of Central New York and are proud to call the Cooperstown Area our home. We are an Award Winning Allstate Independent Agency, having received recognition for being among the top 30 Independent agents in the United States. Contact us at (607) 547-2951, 209 Main Street, Cooperstown or (607) 263-5170, 128 Main Street, Morris.


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