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A variable annuity provides a varying rate of return on an investment. The variable annuity's rate depends on the performance of the stock, bond, and money market funds you chose as investment options. Variable annuities are tax-deferred, meaning you pay no taxes on the income and investment gains until you withdraw the money. One should weigh the advantages and risks associated variable annuities before investing. If you think an annuity may be a good investment option for you, consult with a qualified expert at Gerald J. Silverman Insurance before investing. |
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Gerald J. Silverman Insurance uses a sophisticated computer program which downloads current rates from every A+ rated life insurance company that sells term insurance. We then choose a company for you at the best possible rate. Term life insurance is ideally purchased to guarantee that the beneficiaries of the insured will still be secured with financial resources upon the unfortunate death of the insured individual. This form of protection is designed for the purpose of covering critical needs like loan payments, costs of education, and funeral expenses. Term life insurance quotes are typically lower than any other type of insurance because term life insurance covers an insured person for only a specified term of coverage. For more information about term life insurance, consult with a qualified expert at Gerald J. Silverman Insurance before choosing a coverage plan; we consult with every carrier to find you the best possible price. |
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Unlike term life insurance, which pays benefits only when the insured dies within a specified term of coverage, whole life insurance covers the whole of an insured person’s life. Individuals who would like to leave their families with complete financial security upon their death opt to purchase a whole life insurance plan. The principal advantage here is that your excess premiums over the cost of life insurance are being invested in a fund that the company offers, allowing you to use accumulated funds. For more information about whole life insurance, consult with a qualified expert at Gerald J. Silverman Insurance before investing in a plan; we consult with every carrier to find you the best possible price. |
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When a disability leaves you unable to work for an extended length of time, you lose the ability to earn an income--the one thing you've always relied on to provide for yourself and your loved ones. Meanwhile, your living expenses continue; in fact, they're likely to increase for a number of reasons, such as needed help around the house or higher medical expenses, for example. That's where disability income insurance (DI) comes in. It's designed to help you maintain your standard of living when you cannot work. For more information about disability insurance, consult with a qualified expert at Gerald J. Silverman Insurance before investing.
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Variable Universal Life Insurance (VUL) is a type of life insurance that builds a cash value. In a VUL, the cash value can be invested in a wide variety of separate accounts, similar to mutual funds. The 'variable' component in the name refers to this ability to increse or decrease your premium. The 'universal' component in the name refers to the flexibility the owner has with investment options. The money is invested in separate accounts, which offer a range of funds, or may be invested for you by the company. For more information about variable universal life insurance, consult with a qualified expert at Gerald J. Silverman Insurance before investing. |
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A 401(k) plan is a qualified profit-sharing, stock bonus, pre-ERISA money purchase pension, or a rural cooperative plan under which an employee can elect to have the employer contribute a portion of the employee’s cash wages to the plan on a pre-tax basis. These deferred wages (elective deferrals) are not subject to federal income tax withholding at the time of deferral, and they are not reflected as taxable income on the employee’s Form 1040, U.S. Individual Income Tax Return.
The employer reports elective deferrals on the participant’s Form W-2, Wage and Tax Statement. Although these amounts are not treated as current income for federal income tax purposes, they are included as wages subject to social security (FICA), Medicare, and federal unemployment taxes (FUTA). Two of the tax advantages of sponsoring a 401(k) plan are: employer contributions are deductible on the employer’s federal income tax return, and elective deferrals and investment gains are not currently taxed and enjoy tax deferral until distribution. There are several types of 401(k) plans available to employers - traditional 401(k) plans, safe harbor 401(k) plans and SIMPLE 401(k) plans. Different rules apply to each. For tax-favored status, a plan must be operated in accordance with the applicable rules. To qualify for the tax benefits available to qualified plans, a plan must both contain language that meets certain requirements (qualification rules) of the tax law and be operated in accordance with the plan’s provisions. For more information about establishing or enrolling in a 401(k) plan, consult with a qualified expert at Gerald J. Silverman Insurance before investing. |
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Estate planning involves the anticipation and arrangement for the disposal of an estate. Estate planning typically attempts to eliminate uncertainties over the administration of a probate and maximize the value of the estate by reducing taxes and other expenses. Under today's established tax laws, estate planning concerns only those who own a $10,000,000 estate or more. We have a staff of attorneys who are changing these laws constantly. The end result provides us with a sophisticated computer program, which computes estate taxes when you die. For more information about estate planning, consult with a qualified expert at Gerald J. Silverman Insurance. |
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