Broker Check

Company Name - City, State

36 North New York Avenue
Huntington,NY11743

Call Us: 631-271-4090

New York State Department of Financial Services Emergency Regulation

The Emergency Regulation and Executive Order 202.13 require insurers to provide the following relief to consumers and small businesses (defined as “any business that is resident in [New York State], is independently owned and operated, and employs 100 or fewer individuals”) who can demonstrate financial hardship due to COVID-19:

Life Insurance and Annuity Contracts

• Extend the grace period for the payment of premiums and fees to 90 days to ensure that the policyholder’s or certificate holder’s life insurance policy or certificate does not lapse for nonpayment during the 90-day period.
• Waive late payment fees otherwise due, and not report late payments to credit rating agencies, during the 90-day period.
• Allow premiums due but not paid during the 90-day period to be paid over the course of the following year in 12 equal monthly installments.
• Extend the period to exercise policyholder and contract holder rights and benefits under life insurance and annuity contracts to 90 days.


Property & Casualty


• Provide a 60-day grace period for the cancellation, conditional renewal or nonrenewal of an insurance policy held by a policyholder facing financial hardship due to COVID-19.
• Allow premiums due but not paid during the 60-day period to be paid over the course of the following year in 12 equal monthly installments.
• Waive any late payment fees, and not report late payments to credit rating agencies, during the 60-day period.


Insurers are required to accept a written attestation from a policyholder as proof of financial hardship as a result of the COVID-19 pandemic.


NYS DFS Emergency Regulation

Welcome

Whether the business climate is foggy or bright, today’s successful business owners and professional practices need appropriate insurance coverage, quality retirement and benefit plans, and even personal retirement and estate planning.

Richard E. Zacharoff & Associates can help you set your course – by addressing your financial needs and those of your employees. We have advised hundreds of business owners and professionals on strategies to meet their goals, maintain their capital, and strengthen their financial security since 1974.

Nearly 100% of our clients represent referrals and repeat business, reflecting the quality of the relationships we build with successful, self-made individuals and family-owned businesses.


Helpful Content

The Utility of Sector Investing

The Utility of Sector Investing

Successful sector investing is dependent upon an accurate analysis about when to rotate in and out.

The Value of Insuring Against Life’s Risks

The Value of Insuring Against Life’s Risks

Building wealth requires protection from the forces of wealth destruction.

The Cost of Procrastination

The Cost of Procrastination

Procrastination can be costly. When you get a late start, it may be difficult to make up for lost time.

 

Tax Rules When Selling Your Home

The tax rules governing profits you realize from the sale of your home have changed in recent years.

Pullbacks, Corrections, and Bear Markets

Clearing up confusion from the economic downturn following COVID-19 and how it might affect your financial strategy.

Does Your Portfolio Fit Your Retirement Lifestyle?

Lifestyle considerations in creating your retirement portfolio.

A Home Insurance Claim: To File Or Not To File

Learn when it may not make sense to file a claim on your home insurance.

What Is a 1035 Exchange?

1035 exchanges provide a way to trade-in an annuity contract or life insurance policy without triggering a tax liability.

How to Appeal Your Property Taxes

For homeowners who think their property taxes are too high, there are ways to appeal.

View all articles arrow

Annuity Comparison

This calculator compares a hypothetical fixed annuity with an account where the interest is taxed each year.

Paying Off a Credit Card

Enter various payment options and determine how long it may take to pay off a credit card.

What Is the Dividend Yield?

This calculator helps determine your pre-tax and after-tax dividend yield on a particular stock.

Can I Refinance My Mortgage?

This calculator can help determine whether it makes sense to refinance your mortgage.

Should I Buy or Lease an Auto?

This calculator compares the financial impact of leasing versus buying an automobile.

Capital Gains Tax Estimator

Use this calculator to estimate your capital gains tax.

View all calculators arrow

Principles of Preserving Wealth

How federal estate taxes work, plus estate management documents and tactics.

5 Smart Investing Strategies

There are some smart strategies that may help you pursue your investment objectives

Managing Your Lifestyle

Using smart management to get more of what you want and free up assets to invest.

Protecting Those Who Matter Most

The importance of life insurance, how it works, and how much coverage you need.

Your Cash Flow Statement

A presentation about managing money: using it, saving it, and even getting credit.

Long-Term-Care Protection Strategies

The chances of needing long-term care, its cost, and strategies for covering that cost.

View all presentations arrow

RE: Retirement

How does your ideal retirement differ from reality, and what can we do to better align the two?

A New Way to Look at Your Bucket List

That big list of dreams and goals isn't the only way to look at your bucket list.

Investments

You’ve made investments your whole life. Work with us to help make the most of them.

It May Be Time for a Financial Checkup

It’s never a bad time to speak with your financial advisor about changes in your situation.

An Arm and a Leg

A visit to the hospital can be painful, for both your body and your wallet. Don’t let it be more painful than it has to be.

Safeguard Your Digital Estate

If you died, what would happen to your email archives, social profiles and online accounts?

View all videos arrow