Financial Planning in New York

Financial planning in New York, starting with protection

A financial plan is built on the assumption that things go right: you keep earning, you stay healthy, and nothing happens that costs more than you have set aside. Insurance is the part of the plan that keeps it intact when one of those assumptions breaks. Life insurance, disability income, long-term care and liability coverage decide whether a bad year is a setback or the end of the plan.

Gordon Companies is an independent, family-owned brokerage working out of Midtown Manhattan since 1968. We review the protection you already have, show you where the gaps are and compare options across multiple carriers. When you call, you speak with a real person who knows your file.

What the insurance side of a plan covers

Most plans lean on the same handful of policies. The amounts and the policy types are where they start to differ.

• Life insurance: money for the people who rely on you, to replace income, pay off a mortgage or cover estate costs.
• Disability income: part of your paycheck if illness or injury keeps you from working.
• Long-term care: help paying for care at home, assisted living or a nursing facility.
• Umbrella liability: extra limits above your home and auto policies, so one lawsuit does not reach your savings.
• High-value home and collections: broader coverage for larger homes, art, jewelry and other valuables.
• Medicare and retirement coverage: the right mix of Medicare, supplement and drug plans once you stop working.

Life insurance: term or permanent

Term life covers a set number of years, usually while children are young or a mortgage is outstanding, and it is the least expensive way to buy a large amount of coverage. Permanent policies last for life and are often used for estate planning, business succession or leaving money to the next generation. We explain the trade-offs and compare carriers side by side. Read more on our life insurance page.

Protecting your income

Your ability to earn is usually the largest asset in the plan. New York's statutory disability benefit is small, and many employer plans replace only part of your salary. An individual disability policy can close that gap, especially for business owners and professionals whose income does not fit neatly into a group plan.

Planning for long-term care

Care at home or in a facility can cost far more than most people expect, and health insurance and Medicare cover very little of it. Looking at long-term care coverage in your 50s or early 60s usually means more options and lower premiums than waiting until care is needed.

Liability and the assets you have built

As savings grow, so does what you could lose in a lawsuit. An umbrella policy adds liability limits above your home, auto and watercraft coverage for a modest premium. For larger homes and collections, a high net worth program often gives broader protection than a standard policy.

For business owners

If you own a business, your personal plan and your company are tied together. We can place group benefits for your team, life insurance to support a buy-sell agreement, and the commercial coverage that keeps the business, and the income it pays you, running after a loss.

How we work with your advisors

We are insurance brokers, not investment managers. If you work with a financial advisor, CPA or estate attorney, we will coordinate with them so your coverage matches the plan they have built, and so beneficiaries and ownership are set up the way they intended.

Questions we hear about financial planning

Do you manage investments?

No. We focus on the insurance side of your plan and work alongside the advisor who manages your investments.

How much life insurance do I need?

It depends on your income, debts, the people who rely on you and what you want the policy to do. We walk through those numbers with you rather than using a single rule of thumb.

When should I look at long-term care insurance?

Many people start in their 50s or early 60s. Health can affect eligibility, so earlier usually means more choices.

Can you review the policies I already have?

Yes. Bring your current life, disability and liability policies and we will tell you what they cover, where the gaps are and whether anything is worth changing.

Related coverage

• Life insurance
• Disability insurance
• Long-term care insurance
• Umbrella insurance
• Medicare
• Employee benefits
• All insurance services

Start your review

Call 212-687-2525 Monday through Friday, 9am to 5pm, or send us a note. A real person on Aaron Gordon’s team will review what you have and walk you through the options.