Adam Knopow, Licensed Agent with New York Life

02/06/2025

Indexed Universal Life (IUL) policies are often marketed as the “best of both worlds”—offering life insurance protection with the potential for cash value growth tied to market performance. But here’s what many agents don’t highlight: IULs are incredibly complex, and the fine print can lead to unexpected costs and disappointing returns. You'll see advertisements for these types of policies start to pop up all over your feed if you ever look into life insurance.

Changing cap rates, crediting rates, and shifting policy costs can erode the cash value over time, leaving policyholders with far less than they expected—or, in worst cases, forcing them to pay more than expected out-of-pocket to keep their coverage. As highlighted in this article, even industry experts acknowledge that these policies are often misunderstood, even by those selling them.

Life insurance is an important financial tool, but complexity shouldn’t come at the cost of transparency. If you’re considering an life, take the time to understand how it truly works and sit down with a trusted advisor or agent.

A growing group of consuner advocates say that IUL is a poor choice for retirement plans. One such attorney is engaged in lawsuits across several states.

01/17/2025

Interesting read about how Jim Harbaugh, back in 2016, took about half of his salary in the form of a life insurance loan. These kinds of loans generally don't need to be paid back in the insured's lifetime. Crazy way to get around taxes, but it works.

In addition to his $5 million salary, Michigan will loan Jim Harbaugh $4 million in 2016 and an additional $2 million for the following five years to pay the premium on a life insurance policy.

01/01/2025

Happy New Year! May the closeness of your family, friends, and loved ones fill your heart with joy this year and all the years to come.

12/24/2024

May this holiday season bring happiness, joy, and prosperity to you and your loved ones.

11/28/2024

This Thanksgiving, we're thankful for the opportunity to protect the ones you cherish most. Wishing you a safe and joyful holiday filled with gratitude, love, and peace of mind.

11/11/2024

This Veterans Day, we salute the brave men and women who have served and sacrificed for our freedom. Your courage and dedication inspire us every day.

10/17/2024

All three major indexes moved higher in late trading following Powell's comments about the strength of the US economy.

"Overall, the economy is in solid shape," Powell said in his prepared remarks on Monday. "We intend to use our tools to keep it there."

10/14/2024

U.S. consumer prices rose slightly more than expected in September, signaling persistent inflationary pressures that can affect the cost of everyday goods and services.

For consumers, it’s crucial to stay proactive in managing your finances as inflation impacts savings, investments, and purchasing power. As prices rise, reviewing your budget and ensuring your financial strategies are adaptable becomes even more essential.

If you’re feeling the pinch of inflation, let’s explore strategies to protect your financial future. Reach out for a personalized review of your financial strategy today.

U.S. consumer prices rose slightly more than expected in September amid higher food costs, but the annual increase in inflation was the smallest in more than 3-1/2 years, keeping the Federal Reserve on track to cut interest rates again next month.

10/14/2024

The latest Social Security cost-of-living adjustment (COLA) for 2024 is set to bring a modest increase in benefits, though inflation continues to outpace these adjustments for many retirees. I believe it’s more important than ever to ensure that your retirement income strategy keeps pace with inflation, so you don’t lose purchasing power over time. Whether you’re relying on Social Security as a primary income source or as a supplement piece of your strategy now may be a good time to revisit your financial plan. DM me to schedule a meeting, and let’s ensure your retirement stays on track.

Social Security recipients will see their monthly payments inch up by only 2.5% next year, as the steady decline in inflation puts a damper on the program’s annual cost-of-living-adjustment, the Social Security Administration announced Thursday.

10/12/2024

The Federal Reserve’s anticipated rate cuts are expected to offer a significant boost to banks by lowering borrowing costs and increasing lending activity. However, rate cuts can also signal broader economic adjustments, so it’s important to balance growth opportunities with risk management.

When the Federal Reserve cut its benchmark rate by half a percentage point last month, it boosted prospects for many banks.

10/10/2024

Creating a solid financial strategy can be your first step toward achieving long-term financial security. This , reach out and let's work together to map out your goals and secure your future.