When it comes to your employment there is nothing more critical than getting your retirement in order before the time comes to call it quits. The big problem that some people have is that they do not stay at one job long enough to qualify for any kind of retirement benefits. Here are some things that you can do if you find that you do not have any retirement benefits in Albany, New York.

Your Retirement Options When You Leave Your Job

• Just because you leave a job with no pension does not mean you do not have options. One of the first things you can do is participate in the 401k program. Most companies have a matching plan that you can have to save money for retirement.
• Look into whether you are eligible to buy company stock. Some companies allow their people to buy general stock at a discounted rate.
• Get a life insurance policy that builds cash value. This can give your family and yourself the peace of mind knowing that your funeral expenses are taken care of.
• You can also look into opening an IRA account for future retirement expenses. An IRA gives you a pretax contribution option to grow your money.

There are a lot of things that you can do in order to build for your retirement once you have left your job. If you have any questions about your insurance needs, then you need to contact your independent agent today. As your agent we can help answer your questions and help you get the coverage you need for when you are ready to retire from being in the work force.

Just like your auto insurance company in Albany, New York must provide you with notice before they can cancel or choose not to renew your policy, the same holds true for your commercial insurance policy. If you have a business in Saratoga Springs or Schenectady and buy commercial insurance, you can not be denied renewal, or canceled, without first receiving proper notice.

The notification requirements for cancelation are different that the notification requirements for non-renewal of your commercial insurance policy. With cancellation, there are different requirements for policies that have been in effect for 60 days or less and for those policies that have been in effect for more than 60 days.

If your policy has been in effect for 60 days or less, your insurance provider must give you at least 30 days notice before the effective date of cancellation. In certain cases, proper notice may be 15 days or more.

The time may be reduced for notice of cancelation to only 15 days if the reason for cancelation is that you did not pay your premium. Before canceling your policy, your insurer must first notify you that there is a balance due on your premium payment. A second reason for the reduction in the notice time can be if you are convicted of a crime that changes the hazard that you are insured against. You can also be subject to a shorter notification period if fraud or material misrepresentation is discovered either while obtaining a policy or filing a claim on the policy.

For policies in effect for more than 60 days, the general rule is that your insurance provider must give you at least 15 days of notice.

Non-Renewal notification requirements are at least as long or longer than they are when your insurance is canceled. Notice must be at least 60 days, but not longer than 120 days before the expiration date of your policy.

If you would like to learn more about the reasons that your policy can be canceled or proper notification requirements, please give us a call. An independent agent can go over your individual situation and help you acquire, keep and maintain the coverage you need for your business.