Benefits of Term Life Insurance

Philadelphia-based Lawrence (“Larry”) Koresko serves as the president of Insmax Insurance Brokerage, Inc. In this capacity, Lawrence Koresko offers clients various types of insurance, including term life insurance.

Term life insurance refers to a policy that lasts for a predetermined period of time, often lasting 5, 10, 20, or 30 years. If policyholders die during the term, the beneficiaries of the policy receive the value of the policy. However, if policyholders complete the term, there is no payout. 

Many people choose term life insurance because it is relatively inexpensive compared to permanent or whole life insurance policies. Premiums typically do not change over the course of the term, making it a predictable option for those on a fixed income. Proceeds from term life insurance do not belong to the probate estate, meaning that beneficiaries receive payments immediately. Term life insurance is also an attractive option for younger people seeking low-cost temporary life insurance until their family obligations increase.

Basic Types of Annuities

Lawrence “Larry” Koresko of Philadelphia leads as president of Insmax Insurance Brokerage. In this role, Lawrence Koresko guides the distribution of annuities and other insurance products.

The current financial market presents opportunities for consumers to select among a number of different types of annuities, though all of these fall into a few basic categories. One such category consists of deferred and immediate annuities, the latter of which permits the account holder to start receiving payments not long after he or she makes an initial investment. The deferred annuity, by contrast, allows the investment to accumulate until the account holder chooses to begin withdrawals.

Either of these product types may pay out as fixed or variable annuities. A fixed annuity grows based on terms specified in the contract, which typically includes a minimum interest rate. These annuities do not change based on market performance, and it is this factor that distinguishes them from the variable annuity.

A variable annuity authorizes the issuer to place the account holder's investment into a particular fund, open only to the issuer's customers. The performance of this investment determines the payout, though the account holder typically has a choice of the specific fund into which the issuer places his or her money.

Purchasers of annuities may also be able to select among a number of other options, including lifetime or fixed period annuities. A financial professional or insurance broker can explain a potential purchaser's options and help the customer to determine the most appropriate product for his or her needs.

The NAILBA/AALU Partnership

Lawrence “Larry” Koresko, who graduated from Indiana University of Pennsylvania with a bachelor of arts in economics, has had a long career in insurance. Since 2014, he has served as the president of Insmax Insurance Brokerage in Collegeville, Pennsylvania, near Philadelphia. Lawrence Koresko is also an active member of the National Association of Independent Life Brokerage Agencies (NAILBA).

The leading group of health, life, and annuity insurance-distribution professionals in the United States, the NAILBA currently encompasses more than 300 member agencies. In 2015, the organization partnered with the Association for Advanced Life Underwriting (AALU) to combat “regulation creep” in the brokerage industry.

Regarded as one of the most effective legislative and advocacy organizations in the insurance field, the AALU spearheads a range of lobbying efforts from its headquarters in Washington, DC. Under the terms of the NAILBA/AALU partnership, the AALU now provides government affairs services and opportunities for political involvement to all NAILBA members. The AALU also agreed to represent the NAILBA in the Secure Family Coalition, a large organization of life insurance agents and companies that cover more than 75 million U.S. families.

NAILBA Offers NAILBA University for Continuing Education

Lawrence “Larry” Koresko was most recently partner at Koresko Financial. While there his responsibilities included recruiting and educating new brokers while ensuring the company's growth. A resident of Philadelphia, Lawrence Koresko is currently the president of Insmax Insurance Brokerage, where he focuses on business development and the professional growth of his employees. He is a member of the National Association of Independent Life Brokerage Agencies, also known as NAILBA. 

NAILBA offers several benefits to its members, including the NAILBA University. Individuals who can benefit from the university include business owners, those working with brokerage channels, and independent producers working with agencies affiliated with NAILBA. 

Among the school's offerings are various webinars and classes that focus on field underwriting and preventing money laundering, as well as other training series and guides. Members of the university are encouraged to expand their education by taking advantage of discounts and participating in courses and other learning opportunities that are only available to NAILBA members.

Three Reasons to Teach Your Child Swimming

A Philadelphia-based insurance professional with over two decades of experience, Lawrence “Larry” M. Koresko assists clients in his capacity as president of Insmax Insurance Brokerage, Inc. The father of two children, Lawrence “Larry” M. Koresko enjoys swimming in his free time.

For parents thinking about whether or not to enroll their children in swim lessons, here are three reasons why encouraging them to learn how to swim is a great choice.

Data collected by the National Safe Kids Campaign reveals that drowning is the number-two cause of accidental death in children aged 1 to 14. With water found in many areas where children live and play, children who learn how to swim when they are young are at a significantly decreased risk of drowning.

In addition to the safety benefits, swimming is a fantastic exercise activity for children. It offers high cardiovascular benefit and is also a total body workout, engaging almost every muscle in the arms, chest, core, and legs.

Beyond the physical gains swimming offers, children can see increased learning performance by engaging in the sport. Research indicates that there is a link between swimming and advanced academic achievement. According to studies, children who participated in swimming activities in their developmental years were able to reach learning benchmarks more quickly than those who weren’t swimmers.

Yamaha Developing AI to Improve Safety of Motorcycle Riders

As the president of Insmax Insurance Brokerage, Inc., in Philadelphia, Lawrence “Larry” Koresko oversees all activities related to the management and growth of the company. Outside of work, he maintains an interest in motorcycle riding. One of Lawrence Koresko’s first bikes was a traditional Yamaha 80 dirt bike.

Since 1955, Yamaha has been manufacturing motorcycles for both daily use and professional racing. In recent years, the company has started working on an artificial intelligence (AI) system that is designed to increase the safety of riders. Specifically, Yamaha wants to help riders lessen the chances of experiencing overturns, collisions, and other types of motorcycle accidents.

The AI system is borne out of research in which humanoid robots rode Yamaha motorcycles. Through this research, Yamaha developed expertise in how to make motorcycle riding safer. Currently, Yamaha is considering whether to incorporate AI technologies into future models, though certain models, like the new YZF-RI, will come equipped with advanced technology that regulates some of its functions.

Improve Your Arm Action During a Backstroke

President of INSMAX Insurance Brokerage, Inc., Lawrence “Larry” Koresko guides the growth and management of the Pennsylvania-based company. A Philadelphia resident, he works with a range of clients, including financial advisors, insurance agencies, attorneys, and accountants. In his leisure time, Lawrence Koresko enjoys swimming.

Certain tips can allow you to improve your arm action during a backstroke. As your arm comes out of the water, lead with your thumb. Ensure that your arm lifts out through the movement from your shoulders. With your palm facing outward and your arm straight, allow your little finger to enter the water first.

Allow your palm to face down and sweep your hand downward and outward until it is aligned between your shoulders and upper chest, while your elbow is bent. Lastly, turn your palm to shift down facing your feet and push yourself through the water until you are ready to lift your arm out of the water again via the rotation of your shoulders.