Saratoga Business Journal

Business Report: Finding Safety In Whole Life Insurance

April 11, 2023

Brian Johnson, director, business development at Advisors Insurance Brokers.
Courtesy Advisors Insurance Brokers

By Brian M. Johnson, MBA, CLTC

Amid recent news about prominent banks failing, inflation and increased market volatility, many Americans are finding refuge in whole life insurance.

To be clear, whole life insurance is NOT an investment. It is a type of life insurance policy that provides coverage for the entirety of one’s life, as opposed to term life insurance which only covers a specific period of time. While whole life insurance offers several benefits, one of the most important considerations for many people is the safety of the policy.

What is whole life insurance? It is a type of permanent life insurance that provides coverage for the entirety of one’s life. Unlike term life insurance, which only provides coverage for a specific period of time, whole life insurance does not expire as long as premiums are paid. In addition to providing a death benefit, whole life insurance policies also build cash value over time, which can be borrowed against or used to pay premiums.

One of the main benefits of whole life insurance is its safety. Unlike other types of investments, such as stocks or mutual funds, whole life insurance policies are not subject to market fluctuations. This means that the cash value of the policy is guaranteed to increase over time, regardless of economic conditions. In addition, whole life insurance policies are backed by the financial strength of the insurance company, which provides an additional layer of safety.

When you purchase a whole life insurance policy, you are essentially entering into a contract with the insurance company. The insurance company agrees to pay a death benefit to your beneficiaries in exchange for the payment of premiums.

In addition, the insurance company guarantees that the cash value of the policy will increase over time, regardless of market conditions. This means that even if the stock market crashes or the economy takes a downturn, your whole life insurance policy will continue to provide coverage and build cash value.

Millennial Medical Imaging Will Donate $337,500 To Saratoga Hospital Over 5 Years

April 11, 2023April 11, 2023

Dr. Richard Falivena, left, with Jill VanKuren, Saratoga Hospital CEO, Dr. David Strauss and Dr. David Hindson, far right, posing at the Millennium Medical Imaging check donation.
Courtesy Saratoga Hospital

Millennium Medical Imaging will continue its longstanding philanthropic support of Saratoga Hospital by donating $337,500 over the next five years.

The radiology practice has provided medical imaging services at Saratoga Hospital locations since 2000 and has contributed over $1 million to support hospital programs and fundraising efforts.

“We couldn’t ask for a better partner,” said Richard Falivena, DO, vice president and chief medical and physician integration officer at Saratoga Hospital. “Clinically, they are among the best in the region. Philanthropically, they set an example for others to follow.”

Millennium’s latest pledge includes $250,000 for advanced imaging equipment. The remaining $87,500 will provide five years of sponsorship support for Saratoga Hospital’s three annual fundraising events: the Cantina Kids Fun Run, the Gala, and the Golf Invitational.

Couple Creates ‘Premier Homes Elite Realty’ Which Flips Houses, Has Some Rental Units

April 11, 2023

Kyle and Chrystal Chadwick have ventured into the sales side of the real estate business with the creation of Premier Homes Elite Realty based in Stillwater.
Courtesy Premier Homes Elite Realty

By Christine Graf

After several years spent flipping houses and acquiring rental properties, Kyle and Chrystal Chadwick have ventured into the sales side of the real estate business.

Their real estate company, Premier Homes Elite Realty, opened its doors at 66 East St. in Stillwater at the end of March.

“We started in real estate about three years ago with flipping houses and buying rental properties,” said Kyle Chadwick. “We’ve bought foreclosure properties—properties that were in distress, properties that no one else wanted, and ones that were eyesores for the community. We renovate them and make them absolutely beautiful again.”

The Chadwicks also own eight rental units and have another five under contract. Their rental properties are located in Mechanicville, Cohoes, Gloversville and Troy.

“We live in one of the properties we flipped in Mechanicville,” he said. “We bought it from HUD, and it was an eyesore to the community. We renovated the entire building pretty much all the way down to studs and then brought it back up again.”

DeCrescente Distributing Wins President’s Award From Molson Coors For 10th Time

April 11, 2023

DeCrescente Distributing Co. has been in business for 75 years.
Courtesy DeCrescente Distributing

DeCrescente Distributing Co. in Mechanicville has won the Molson Coors President’s Award for the second consecutive year and 10th time overall.

The company is in its 75th year as a family run local beverage distributor.

Only 32 beverage distributors nationwide earn this prestigious award each year. Winning the award twice in two years is uncommon and a testament to the hard work and creativity of the DDC team, said company president C.J. DeCrescente.

“We set a high bar here,” DeCrescente said. “Each year, we create a strategic plan for each of our suppliers to help take their products to new heights. Winning this award proves that our entire team brought their A-Game to help us achieve our ambitious goals for the Molson Coors family of brands in 2022.”

In addition to winning the President’s Award, DeCrescente Distributing is one of seven Molson Coors Founders Award finalists. The award recognizes the nation’s top Molson Coors distributor for exemplary sales and distribution performance over the last year. DeCrescente is the only distributor in the nation to have ever won the Founders Award four consecutive times.

The Founders Award winner will be announced later this year.

ADK Mobile Nurse Services Brings Medical Help To Patients Homes In The Region

April 11, 2023

Lisa Murphy, RN, is the owner/operator of ADK Nurse Services.

By Jill Nagy

If someone needs a nurse, Lisa Murphy can be there without the patient leaving home. Her Glens Falls-based ADK Mobile Nurse Services provides services in patients’ homes—or wherever else they are—in communities within 60 miles of Glens Falls, including Queensbury, Lake George, Saratoga, Albany, and surrounding locations.

Murphy is a registered nurse with 15 years of hospital experience, including case management, and 10 years as a director of clinical services in long term care and rehabilitation facilities. Her office, at 35 Evergreen Lane, Queensbury, is in a senior living facility.

With hospitals discharging patients earlier and providing less outpatient care, there is a growing need for the kind of care Murphy can provide. She can step in to provide follow-up care after hospital discharge, whether managing medications, changing dressings, helping patients adjust to a new lifestyle, or just looking in to be sure someone is getting along well.

In addition, she administers intravenous vitamin and mineral treatments (on orders from a physician).

Care ranges from a single consultation to continuing care on a monthly retainer basis.

Dion Puts Her Skills To Work As Owner Of ‘Adirondacks & Beyond Motorcycle Safety’

April 11, 2023April 11, 2023

Jeanne Dion gives riding lessons at Adirondacks & Beyond Motorcycle Safety LLC.

By Christine Graf

For the past 20 years, Adirondacks & Beyond Motorcycle Safety LLC, has been offering a variety of motorcycle courses for both beginners and experienced riders.

Owner Jeanne Dion purchased the business from Marc and Margie Connelly when they retired in 2021. Before that, she worked for the Connellys as a Motorcycle Safety Foundation certified RiderCoach.

Dion has been riding for about 20 years, and after learning the basics from her husband, she enrolled in a motorcycle course for beginners.

“I took the class within six months of him teaching me to ride,” she said. “I learned so many skills, and it just made riding much more enjoyable.”

A few years later, Dion was working as a civilian at the Stewart Air National Guard Base in Newburgh when she became a RiderCoach for the motorcycle safety course that was offered there. After she and her husband relocated to the North Country, she continued to work for the military and became a RiderCoach at Adirondacks & Beyond Motorcycle Safety.

Velocity Sales In Moreau Helps Businesses Achieve Their Sales Visions And Goals

April 11, 2023

By Paul Post

Alan VanTassel stays in business by working himself out of a job.

After 30-plus years in corporate America, he recently launched his own Moreau-based firm, Velocity Sales, which helps entrepreneurs achieve their sales vision and goals.

“Sales is an area of difficulty for most small business owners,” VanTassel said. “They’re passionate about what they do, but their experience is not often in sales. At some point they get to a place where sales are declining or they’re frustrated with revolving-door salespeople coming and going, and can’t attract good talent. Clients hire me on an interim business. We don’t just consult, we actually do the work for them.”

“The model is to help them build a sales structure they don’t have, to help them get their business to the next level,” he said. “I’ll help them hire salespeople, do weekly ride-alongs and attend sales meetings. I can be part of the business and run sales while developing a long-term strategy or plan. After 12 to 24 months I’d be gone.”

Early in VanTassel’s career, he traveled the country for Melville Corp., the parent company of numerous nationwide chain stores such as Thom McAn shoes, Marshalls and KB Toys. Then he was a regional sales manager for Stride Rite shoes before moving to Verizon, where he managed sales in its upstate New York market’s messaging division.

Most recently, VanTassel spent the last nine years working for StoredTech.

Right before this, however, in 2000 he launched his own Glens Falls-based technology firm, which laid the groundwork for his newest venture, Velocity Sales.

Business Briefs: April 2023

April 11, 2023April 11, 2023

The Academy for Lifelong Learning Saratoga Region continues its 30-plus year tradition of presenting educational and social opportunities for adults 55 and older by offering 35 five-week courses starting the week of April 10 and the week of May 15.

Registration is now open.

Course brochures will be available at local libraries, YMCAs and retirement communities or by request at (518) 290-6968 or Lora@allsaratoga.org.

Registrations are being accepted throughout the term until courses are full. Some courses will sell out. Annual membership is $75 and goes for 365 days from join date. Five-week courses are $50 each. Courses are held outdoors, by Zoom, or in community classrooms including at SUNY Adirondack’s Wilton location.

Topics for these volunteer-led, noncredit courses include music, literature, variety speaker series, art history and anatomy, Italian, ancient game of Go, hiking, biology of aging, farm tours, local authors, grocery shopping tips, current events, dining out, history, local media professionals, global warming, opera, poetry, local walking tours, writing, museum tours, and more.

For a brochure with registration form, go to www.allsaratoga.org.

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Dr. Daraban Becomes Medical Director, Chief Of Cardiology At Saratoga Hospital

April 11, 2023

Dr. Nicoleta Daraban, who has served as director of Saratoga Hospital’s diagnostic center for nine years, has been named medical director and chief of cardiology at Saratoga Hospital.

Daraban will oversee all inpatient and outpatient cardiology services, in collaboration with other members of hospital leadership. She will continue to lead the diagnostic center.

“Throughout her tenure here, Dr. Daraban has earned the respect of her patients and her colleagues across the organization,” said Dr. Richard Falivena, vice president and chief medical and physician integration officer at Saratoga Hospital. “She has the administrative and medical experience to lead our cardiology team in addressing heart disease and other cardiac challenges for patients in our community.”

Amtrak, Via Rail Canada Open Train Line From NYC – Montreal; Includes Saratoga Stop

April 11, 2023April 12, 2023

Amtrak, VIA Rail Canada resumed service from New York City to Montreal on April 3.
Courtesy Amtrak

Amtrak, in conjunction with VIA Rail Canada (VIA Rail), the state Department of Transportation and other federal agencies, resumed train service between New York City and Montreal via the Adirondack train on Monday, April 3.

It includes a stop in Saratoga Springs.

This milestone marks the return of all Amtrak and VIA Rail cross border service between the United States and Canada for the first time since 2020 and aligns with the growing demand of train travel in both countries.

Northbound Adirondack trains will depart Moynihan Train Hall at New York Penn Station at 8:41 a.m. and arrive in Canada’s Gare Centrale/Central Station in Montreal at 8:16 p.m., with southbound Adirondack trains departing Montreal at 11:10 a.m. and arriving at NYP at 10:15 p.m. Additional popular destinations on the Adirondack besides Saratoga Springs and Schenectady.

“The return of the Adirondack promotes one of many rail initiatives benefiting and connecting American and Canadian travelers and residents,” said Amtrak President Roger Harris. “We are proud to partner with NYSDOT and VIA Rail and thank Senators Schumer and Gillibrand, and Congresswoman Stefanik for championing the Adirondack’s return, as well as their shared commitment with Amtrak to bring more trains to more places and more people as we enter a new era of rail.”