Let The Buyer Beware

Caveat emptor is Latin, it means "let the buyer beware." It refers to the fact that the buyer assumes the risk and that that the product they buy may fail to meet expectations or have defects. In most areas of our lives, we realize this. Which is why we always get a second opinion when we are sick. For kids who are graduating from high school, we do a lot of research before choosing a college. We take trips to the college and talk to the professors, or speak with the coaches. To prevent the buying of a lemon, we check car prices online and comparison shop between dealers. When it comes to health insurance, we are constantly switching from one carrier to the next to save money or get better coverage.

In all other areas of our lives, we educate ourselves and price shop before buying or committing to something – except for New York State Disability and NY Paid Family Leave Insurance. When paying these premiums, we know very little about the coverage and we know even less about the premiums. 

Recently an insurance broker told us that her client was opening a new business and that he needed New York State Disability and NY Paid Family Leave Insurance. When we asked the client for the information to give him a quote, he said: “call my CPA.” When I called the CPA, he was very dismissive and said that he was going with another insurance company. He didn’t ask whether or not the premiums were better from one company to the next or whether the coverage was better. 

Between all of the popular companies that offer New York State Disability and NY Paid Family Leave Insurance, for an employer with 7 male and 2 female employees, there is about a $65 per year difference from the lowest insurance provider to the highest provider. While this may not be a lot of money, over 5 years this amounts to $325. I doubt you would throw away $325.  Yet so many people do.

New York State Disability Insurance can be expensive.  Do yourself a favor and your family a favor, let us review your New York State Disability and NY Paid Family Leave Insurance. Let us help you get a lower premium. https://thepensiondepartment.com/new-york-paid-family-leave