—
Led by the Schechner family for four generations, Schechner Lifson is among the largest regional insurance offices in New Jersey. What began as a small office selling homeowners insurance over 120 years ago is now a premier provider of consulting, risk management, employee benefits, and related services. A standout in its industry, Schechner Lifson is one of few firms to offer life and legacy planning as well as property & casualty risk analysis and insurance under one roof.
“Buying insurance products piecemeal doesn’t make sense for most businesses and their owners,” says CEO Michael Schechner, CLU. “We’ve built a talented team of 40 associates who have collective expertise in a wide range of insurance options.”
As an independent broker, the firm is not limited in what it can offer. “Our team carefully considers which product, carrier, or combination would best meet a client’s long-term business and personal goals,” continues Schechner.
A Solution in Plain Sight
Schechner, whose expertise is in business continuation and legacy consulting (life, disability, and long-term care insurance says if clients only think of death benefits when they think of life insurance, they are missing a valuable tool in their financial arsenal.
“Shrewd business owners are finding intelligently designed employment benefit plans and business succession plans that include a life insurance component have a tremendous impact on the longevity of the company,” says Schechner.
First, life insurance can greatly enhance “golden handcuff” programs, which are usually reserved for large employers. However, Schechner Lifson can adapt these plans for companies with as few as 25 people and a limited number of key employees who would be hard to replace. These select employees receive a supplemental benefit as part of their compensation package that makes it very rewarding to stay for the long run. Using life insurance in such plans has many benefits that cannot be found with other techniques.
“Employers benefit from increased loyalty and productivity. Employees appreciate being recognized for the value they bring to the company,” says Schechner. “Everybody wins.”
Second, life insurance protects the interest of owners and their families when included in a business’ succession plan. Properly designed policies can provide funds to purchase a departing owner’s interest, whether the departure is the result of retirement, death, or disability. “Passing a business to the next generation (whether within a family or not) is often a company’s greatest challenge,” says Schechner. “A properly crafted and funded plan can help assure a smooth transition.”
Additionally, for individuals, life insurance is a highly desirable long-term savings mechanism that can supplement a 401(k) or other retirement plan. The cash value in whole life policies grow tax free every day—always up, never down. It is completely independent of the stock market, and so provides greater investment and tax diversification to a portfolio.
“Michael Schechner and his team are second to none,” comments Guy Cipriano, a long-term client. “They have counseled three generations of our family and business, providing exceptional advice, pro-activity, and confidentiality. We enthusiastically endorse their work, and we are satisfied, loyal clients.”
Contact Info:
Name: Michael Schechner
Email: Send Email
Organization: Schechner Lifson
Address: 4 Chatham Road Summit, NJ 07901
Phone: 908-598-7800
Website: https://www.slcinsure.com/
Release ID: 89128326
If there are any errors, inconsistencies, or queries arising from the content contained within this press release that require attention or if you need assistance with a press release takedown, we kindly request that you inform us immediately by contacting error@releasecontact.com. Our reliable team will be available to promptly respond within 8 hours, taking proactive measures to rectify any identified issues or providing guidance on the removal process. Ensuring accurate and dependable information is our top priority.
