By Brian M. Johnson, CLTC, MBA

Do you own a life insurance policy? Do you own the old life insurance or the new life insurance? Don’t know the difference?  Let me help.

Traditionally, life insurance, whether it’s term or whole life, benefits only the beneficiaries of the policy, meaning you probably met your maker. No one wants to think about it, but we buy life insurance to protect our families, our businesses or to leave a legacy. However, other risks are far more likely to happen than an untimely death.

What if we live too long? What happens if we develop a sickness or become disabled? What if my needs simply change?

Consumers and advisors need to know about the new life insurance policies that allow you to use the death benefit while you’re alive.  If the insured person is diagnosed with cancer, suffers a heart attack, stroke, etc., the critical illness rider on a new life insurance policy allows the insured to accelerate a portion of the death benefit to use for medical expenses or to offset lost income.

If the insured requires long-term care, whether at home or in a facility, the chronic illness rider allows the insured to use 100 percent of the death benefit to pay for the services he/she needs.

If the insured’s needs change over or time or he/she determines that the coverage is no longer needed, the return of premium rider allows the insured to take a portion or 100 percent of the premiums paid as a refund.

If you currently own a whole, universal or variable life insurance policy, the accumulated cash values in that policy may be exchanged (using section 1035 of the tax-code) tax-free to fund a new policy with these valuable, new riders that provide living benefits. These riders are available on both term and whole life insurance policies, meaning this additional layer of protection won’t necessarily increase your premium. 

By Jill Nagy

“Sitting is the new smoking,” said Alison Synakowski, manager of the Malta and Saratoga Springs offices of Sports Physical Therapy in Motion.

She and several colleagues find that many of the work-related problems that send people to a physical therapist are the result of too much sitting and improper sitting.

Synakowski advocated “active sitting,” putting things you frequently use in places where you have to reach for them. She also urged people to get up and walk around at least once an hour, a prescription that is also favored by other area physical therapists.

“Our bodies are not built for sitting. They are built for standing and moving around,” said James Markwica, owner of La Marco Physical Therapy PC in Saratoga Springs.

He estimated that between one-fifth and one-quarter of his practice involves lower back, neck and other pains resulting from poor and/or excessive sitting. He helps clients work on their posture and strengthen their core muscles.

Wesley Health Care Center, a component of the Wesley Community, is the recipient of a $14,000 grant from the Arnold Cogswell Health Care Fund of the Community Foundation for the Greater Capital Region.

The grant, which is designed to serve Wesley Health Care Center’s long-term care residents, supports the purchase of multiple EKG machines and stands, two mechanical insufflation-exsufflation machines and an AED device.

Wesley officials said the new equipment will assist the clinical care teams at Wesley Health Care Center in providing the highest quality of care to their residents.

“This new equipment is a wonderful addition to Wesley Health Care Center, and will further enable us to provide compassionate, quality care to our long-term residents,” said Brian Nealon, Wesley CEO. “We thank the Arnold Cogswell Health Care Fund of The Community Foundation for the Greater Capital Region for its contribution. It is an honor to be recognized by an organization which shares our commitment to enriching the lives of seniors.”