As we continue to monitor the spread of COVID-19 (coronavirus), the health and safety of our policy holders and staff is our top priority. Based on recommendations from the CDC (Center for Disease Control) as well as the recommendations from the New York State Governor,  SEFCU Insurance Agency has made the decision to temporarily close our offices located at 469 State Street, 3rdFloor, Schenectady and 297 Main Street, Schoharie beginning Friday, March 20th until further notice. 

This temporary closure affects SEFCU Insurance Agency offices ONLY. 

During this time of uncertainty, you can rest assured knowing that SEFCU Insurance Agency will continue to meet the needs of our customers. Agents are available by phone as well as email to service your policies, offer quotes, and answer any of your questions. We will not be staffing our offices or accepting premium payments in person.

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An Affordable Solution for Your Long-Term Care Needs

Feb 1st, 2017

You spend your entire life working hard to build up your assets and savings so you can secure a comfortable future for you and your family. A chronic illness could cause you to spend those assets much more quickly than you ever expected. Fortunately, there is an affordable solution that can help you reduce out-of-pocket expenses and ease the burden and financial strain on you and your family: A Chronic Illness Accelerated Benefit (CIAB) Rider.

What is a Chronic Illness Accelerated Benefit Rider?

A CIAB Rider is combined with your permanent life insurance policy to serve as an additional safety net in the unfortunate event of a chronic illness. Some of the policy benefits include:

  • No waiting period
  • A lower reduction in the death benefit and cash value when the rider is exercised
  • There is no impact to policy premiums or values unless the benefit is exercised
  • No additional fees will be charged for exercising the rider
  • Any unused portion goes directly to your beneficiaries

Get the facts:

  • The average age of individuals filing for bankruptcy due to medical costs was 44.9 years old.
  • Nearly 70% of people turning age 65 can expect to use some form of long-term care during their lives.
  • The average cost for a semi-private room in a nursing home in northeastern New York is $117,672 annually.
  • One third of family caregivers spend more than 30 hours per week on caring for a loved one making it almost the equivalent of a full-time job.

How can a Chronic Illness Accelerated Benefit Rider help?

In addition to providing peace of mind and better control of your assets, this policy can provide you with extra resources to help cover: 

  • Medical expenses not paid by health insurance
  • Home renovations or equipment
  • Household help or home caregiver expenses
  • Nursing home fees

Get Started Today

Our Certified Estate Planner and Long-Term Care Specialist, Sheila Cervera, is available at no cost to assist you with your long-term care planning needs. As a specialist in asset protection and long-term care insurance, she can evaluate your unique situation and help you navigate through your planning process.

Call Sheila today at 888-250-6689 x2026 to request an appointment.




(NerdWallet Health Analysis, 2013)
(US Department of Health and Human Services, 2014)
( survey, 2014)  

For more information or to obtain a free, no-obligation quote please call our team at 518-786-9905 or 888-250-6689 (toll free).