Riders life insurance can provide a plan B
Riders life insurance can provide a plan B -So you've decided to buy life insurance to protect your family or your business?
Good move.
But there is more to buying than simply signing on the dotted line.
You must pay particular attention to the policy add-ons that insurers offer. In industry, these add-ons are known as runners. As a guarantee or other consumer purchases, riders may give policyholders additional benefits and increase peace of mind if something goes wrong, there is a plan B.
And then they can vary in price, they are, at least, prudent to consider
some of the riders that I make sure that my customers know foremost protection plan is completed :.
Waiver of Premium: This means that the insurance company pays the premiums of your policy should you become totally disabled. If you neglect it and become disabled and can not work, how do you afford your premiums? So it makes sense to have this rider
insurability rider :. If you qualify for this amendment, it is logical to consider it because it allows you to purchase additional coverage in the future without evidence of insurability. And nobody knows what the life of our health years down the road
Forward Conversion runner :. This jumper allows you to convert your term life insurance into permanent life insurance without a medical examination. This is attractive to many people, but it can be especially true for young people who start their career and family. A person in this position may need coverage but can not afford to buy permanent insurance. This option allows them to convert their temporary insurance when they need permanent insurance is logical and without additional subscription.
The decision to buy life insurance is important. So make sure you ask all the necessary questions and review your plan B in the planning table.
Shelley M. Fiore, CLU, CHFC, CLTC, LIC, is co-general agent of Detroit Financial Group, a general agency of MassMutual. You can contact her at sfiore@finsvcs.com.
Barbie financial advisor? Not quite, but she may want to speak with one
Barbie financial advisor? Not quite, but she may want to speak with one - If you followed the celebrity gossip pages recently, you could not have missed all the news about Barbie and Ken. It's been a busy year for a favorite dream couple in America. Day of this past Valentine, Ken Barbie wooed with success in his arms after seven years apart, all it took was a multimillion dollar advertising and social media campaign, a makeover Justin Bieber and inspiration a role alongside his leading lady in Oscar -nominated feature. And this month, Ken turned the big 5-0. Although they look as if they are still young, Barbie and Ken are approaching their golden years and this step comes a new set of financial considerations that are important to them to think about, especially before they married.
We thought we'd have fun thinking about some of the difficult questions Ken Carson and Barbara Millicent Roberts would need to meet before co-mingling their finances (and if they were real, of course):
is it the dream home or Barbie glam convertible still necessary now may be the time to downsize in favor of modes smaller life that are more manageable and offer greater accessibility? . If they are not willing to give up the convertible immediately, they may want to think of at least adding a more practical vehicle in their fleet. If you consider only the cabinets they have both, it may be time they think of repositioning assets to be more cautious in their spending.
How long have they each want to continue working? With Toy Story 3 Barbie and Ken films in the career seems to have taken off, but they still have to ask how long they plan to earn a living verses living off the assets they have accumulated. What income they need to support their lifestyle jet set? They continue to act or take one of the many other careers that they have touched (ala veterinarian Barbie Barbie or dentist), a figure that will help them to target the amount of investment savings they will need to have to support the lifestyle they 've become used to.
are they protected by long-term care insurance? If they do not have long term care insurance, the time has come for Barbie and Ken to consider it - while they are relatively young and healthy. Getting married at age 52 and 50, respectfully, is another reason to think about the coverage. Barbie and Ken will most likely be each other primary caregivers if one of them becomes ill or disabled in the future. Long-term care insurance will ensure that they receive the type of care they will want and need without financial or physical burden on another. If God forbid the marriage does not last (perhaps Barbie meets another Blaine), insurance will also provide critical protection should they ever need to divide their assets.
Who are their successors? From Barbie and Ken are not children, they should think about who they will gift or transfer their property assets once they are gone. While things are fun to think, wills, power of attorney and health directives are all important things to work out now so there is no confusion later among friends and relatives.
Of course, these are just some of the many financial considerations Barbie and Ken as they will officially begin their life together. What other things do you think they should keep in mind?
Happens wedding
Happens wedding -I was too busy ripping the dress and carriage, and the little Princess Di boy all grown and married that I do not see Facebook guru LIFE Chris Hill had already beaten me to the punch on getting this message about life happens fanpage.
I was about to refocus my job, but then thought, "Well, half the world is focused on the wedding day, so why not reinforce the message! "
Marriage Happens and with it a new family unit is born with new responsibilities and concerns. Of course, Kate and Wills should not think what the financial ifs, but 99.9% of the rest of of us are. once you are married, you share many things together, including your financial obligations. what if one partner dies unexpectedly? will the other is OK financially? Would -they able to afford the house and the car and all the other things they have purchased and created together as they form their new life?
Marriage is just one of the stages of life that should trigger automatic lights go off saying, "I have enough life insurance for my next step in life"? to know what other stages of life warrant a life insurance "group", see this page.
All the best to the Duke and Duchess of Cambridge and all of our readers to take the leap!
Unique? Do not let this cover sheet Important for You
Unique? Do not let this cover sheet Important for You -Now here are some worrying figures. According 9th Annual MetLife Study of Employee Benefits Trends to 63% of full-time workers who are primary and unmarried employees are very concerned about the lack of money to pay the bills for a period of sudden income loss. But 60% of these single workers have no disability insurance to protect their income and pay check if an illness or injury that prevents them from working. The study also shows that more than a third of single men and over half of single women who are primary employees say they live paycheck. Have they never heard of the wage protection insurance?
What protection do payroll? It replaces part of your income if you are unable to work for a period of time due to illness or injury. Depending on the level of protection purchased, you may be able to continue paying for essential living expenses, including maintenance payments, utilities, home and car, until you are able to go back to work.
Yes, I know. It will never happen to you, just other people. Well, let's look at some numbers.
- 10% of disability claims in the short term were approved for men ages 21 to 30. The average claim duration was 40 days.
- 22% of disability claims in the short term were approved for women ages 21 to 30. The average claim duration was 46 days.
- 5% of disability claims in the long term were approved for men ages 21 to 30. The main causes were fractures, back pain and cancer. For closed claims the average duration was 32 months.
- 10% of disability claims in the long term were approved for women ages 21 to 30. The main causes are pregnancy, depression and back pain. For closed claims the average duration was 21 months.
For a more complete income protection, individuals must have both long-term disability benefits and short. short-term disability plans replace income for the first period of disability. In general, the plans provide benefits for periods of as little as two weeks to two years. long-term disability benefits help replace income for an extended period, often until the disabled person becomes 65. Social Security disability benefits are not available if a person expects to be out of work for less than a year and, if paid, will likely be deducted from group disability benefits. In addition, most causes of disability are not work-related and, therefore, are not covered by workers' compensation.
According to the MetLife study, nearly three-quarters of employers offer some type of disability insurance coverage, and as a disability insurance coverage is obviously better than no coverage, a good rule basic is to protect 60% - 80% of your after-tax income so essential monthly fees will be covered. There is no substitute for good advice, so if you do not understand your coverage or how to determine your needs, seek professional help.
What women need to consider Given our increasing longevity
What women need to consider Given our increasing longevity -Women are more educated than ever, and we are looking to make smart financial decisions for ourselves and our families. We want to be more independent and live longer. Given this, we need to understand the importance of life insurance plays in our financial planning. We must work together to ensure that we have information and access to key insurance products and services needed to achieve our long term goals
How can we be financially prepared to our increased longevity?
There are over 20 million women in America who will live longer than our mothers and who, in a sense, have the highest financial risk. This is certainly a challenge, but it was also associated opportunities. The concerns include:
- Surviving our pension assets or who need to reduce our lifestyles
- Changing careers or employment without access to mobile services
- Living longer that government programs provide for
- medical benefits and reduced pension
- Anticipating less support by pension insurance benefits and opportunities employer-sponsored
- Living longer than a spouse or partner and / or do not need help children or other family
Living longer is certainly a concern, but if we are adequately insured, we can achieve a level of autonomy that takes us through our lives successfully without having to downsize our lifestyles, be challenged significantly with health problems or avoid financial obligations related to the family.
How can we get the information we need?
Since women influence 0% of financial decisions for themselves and their families, it is particularly important that we have access to information, products and services needed to make sound financial decisions. As women, we tend to gather information that is meaningful and then analyze before making decisions. It is essential to have access to this important information and to industry experts in a forum for questions, answers and sharing ideas with women in similar situations. Take a look at the value of Penn Mutual for women site, which was created specifically for women to meet their needs and goals. LIFE Foundation and the site and blog are great places to get information on the life, health, disability and long term care insurance for the stage life, you can be in.
Why life insurance is an important part of the solution?
due to a renewed interest in safety and security, the benefits of life insurance have better understood and used. And rightly so. Life insurance provides not only safety as a death benefit, but with the permanent life policies, we have the additional opportunity to accumulate tax deferred cash value. This, compared to mutual funds, stocks or bonds, insurance puts in a class by establishing security, secure yields, plus a death benefit. Life insurance makes sense for women, at any age, because it provides the security many of us need and lifestyle options we want.
Do Belong sensationalism in Personal Finance column
Do Belong sensationalism in Personal Finance column -Just as our own mission to the LIFE Foundation, the work of a journalist personal finance should be to inform and educate people to help them make informed financial decisions. Yet in a recent article in SmartMoney (10 things life insurers do not tell you), journalist Jilian Mincer leads his readers to the conclusion that the life insurance industry is not to be trusted and may even be out enjoying yourself.
suggest that life insurers will not pay a claim when an insured dies is simply wrong. the life insurance companies pay billions of dollars in life insurance benefits each year. According to the ACLI, the life insurance beneficiaries received $ 59 billion in 09, which does not begin to take into account the amount of these same companies pay for pensions or disability insurance and beneficiaries the long-term care insurance. In fact, it's hard to find a better example of financial services companies that are well on their financial obligations, and looking for the best interests of their clients in the life insurance industry.
Life insurers are stable and regulated and in extremely rare scenario encountered problems, there are safeguards in place to ensure they will be able to keep their promises to policyholders. Pointing decades old, obscure situations only complicate the problem when there are stories everyday real people who benefit from policies and there are easy steps policyholders and beneficiaries can take to take responsibility to seek benefits they think they are due.
In addition, each time you hear one-size-fits-all financial advice, you know that you should not trust. Say "word is all it takes" only tell part of the story. the term life insurance is certainly a cost-effective way for many people to obtain life insurance, but there are situations where a professional qualified insurance would not advise either the only insurance product life into your financial portfolio. The parents of a disabled child who needs long-term care services for the rest of his life have a need for life insurance beyond 20 or 30 years, if they want to provide for that child after they are gone. Or what about the person who has a family history of heart disease and runs the risk of being diagnosed after their term insurance is exhausted? Permanent life insurance provides guaranteed insurability, not to mention the cash value that can be accessed no matter what life throws your way.
The latest figures from LIMRA show that nearly two-thirds of insured adults have some type of permanent life insurance. I doubt that many people so willingly let go of their money if they thought it was a bad deal. The truth of the matter is that people who purchased a permanent life insurance have taken the time to sit down with an insurance advisor they trust and assessed their individual needs and determined that it made sense.
Thirty percent of US households now have no life insurance and more than half (58 million) say they need more of the highest-ever level, according to LIMRA. This is not the time to be misperceptions that fuel which could discourage people from getting the financial protection they desperately need. It is simply unnecessary for a respected publication like SmartMoney have titles like "we're in bed with your boss" and "released does not mean that we will pay." Next time, leave the sensationalism and gossip columnists keep out of personal finance page.
Safeguarding the Caregiver With LTCI
Safeguarding the Caregiver With LTCI - 
Women have long been known as the guardians of the family, supervising the health and well-being of their children and spouses, and for those who are members of the "sandwich generation" elderly parents as well. But what happens when the caregiver needs care?
For many families, this not only creates an emotional crisis but financial. Medical costs have led to about 50 percent of bankruptcy filings in the United States, according to Health Affairs Journal. As for long-term care, an estimated 75 percent of people 65 and older will eventually need long-term care, while women face a 50 percent greater chance than men to enter a retirement home after 65 years
Combine that with the increase in overall life expectancy for both sexes and statistics reflecting that women live longer than men in five years, and it is not surprising that the insurance long term care has grown from the baby-boomers, especially among female consumers. According to a new study published by the American Association for Long-Term Care Insurance, life insurance policies of sales with long term care benefits increased by 79 percent for large companies' insurance industry, with women responsible for 60 percent of these purchases.
long-term care insurance protects against financial risk posed by the possible need for long term care or in a nursing home or at home. It comes into play when, following a chronic illness or disability, a person needs long-term care for an extended period of time. While Medicare or Medicare will cover doctor and hospital bills, according to the chosen policy, the assurance of long-term care will pay for a wide range of services and procedures, ranging from man and middle guard. This has become increasingly important as the cost of care increases, with current figures putting average full-time at the nursing home at $ 69,000 to $ 78,000 per year, while eight-hour health care home can cost $ 43,000 to $ 70,000 per year.
And it's not just the elderly who need such coverage. Accident or a debilitating illness at any age can lead to a need for care, with estimates indicating that 40 percent of patients receiving long term care are under 65
For example, one of realLIFEstories is Barry Shore, a real estate executive who, at age 55, was diagnosed with Guillain-Barre syndrome. Fortunately, Shore and his wife had already bought both disability and long term care policies of insurance, which together have replaced more than half his previous income and provided funding for home care and therapies not covered by his medical insurance.
And for women who are on their own with no family member available to provide care after a health crisis, long-term care policies offer the peace of mind that their needs will satisfied with the standard of care they wish.
The LIFE Foundation recommends that consumers, men and women, ask several important questions when considering to purchase long term care insurance.
Where can I get long-term care coverage? Over 100 companies now offer coverage, usually available through groups (typically employers) and individuals.
What types of long term care policies? most are "costs" policy (the insured is reimbursed for actual expenses for services received up to a fixed amount per day, week or month), while some are "compensation" (pay to a fixed benefit amount regardless of what the insured passes). "Integrated policies" or policies with "common benefits" provide a total amount which can be used for different types of long term care services. life insurance policies with long-term care benefits will, in certain circumstances, pay a portion of the benefit of life insurance to the insured for long-term care services instead of the beneficiary death of the insured.
What will be the cost of the premium? This depends on many factors, including the age of the insured, the State, the level of benefits and the length of time until the start of benefits. LIFE recommends consulting a representative of a long-term care insurance, an insurance agent or financial advisor for specific cost and coverage information.
For more information on long-term care policies and downloadable Guide AHIP long term care insurance, click here.
Small business owners should answer questions today
Small business owners should answer questions today - 
If I asked you to ballpark the percentage of companies in the US which are small businesses, would you? 25%? 50%? Maybe 75%? The answer is surprising: It is 99.7%, according to the US Small Business Administration. And these companies employ over half of all private sector employees. Here are some additional statistics that may surprise you. Small businesses ...
• Pay 44 percent of private payrolls in the United States.
• generated 64 percent of net new jobs over the past 15 years.
• Create more than half of the nonfarm private gross gross domestic product (GDP).
• Hire 40 percent of high tech workers (such as scientists, engineers and computer programmers).
When you watch the news and read the newspaper, so much space is taken over large companies. But it is clear from these figures that small businesses are a valuable national resource and should be treated as such.
No company is immune to the vagaries of the economy and the forces beyond the owner's control. Life happens to people and businesses. So if you are a small business owner, you need to ask yourself these questions:
• What will happen to my business if I die
• What will happen to my business if I become disabled [?
• what will happen to my business when I retire?
• What will happen if certain key employees die or become permanently disabled?
• How can I ensure that my company will be able to overcome unexpected financial difficulties?
The answers to these questions are probably things like a purchase and sale agreement, overheads insurance company, the keyperson insurance and individual disability and life insurance. His formidable? It does not need to be. The videos on this small business planning page can help you with some of the important bases. Then, contact your agent or adviser to get help that is tailored to your specific needs. If you do not have an advisor, be sure to watch the video that gives you pointers on finding one that is right for you.
Life Insurance: Why do I need? What is he doing?
Life Insurance: Why do I need? What is he doing? - 
So why do you need life insurance?
What often comes to mind when you think life insurance is that you can use it to pay for final expenses. You've seen the ads: funeral expenses, funeral expenses and medical expenses can add up to a hefty amount. The last thing you want is for your family to assume this additional burden. Life insurance can be used to plan these final expenses. Permanent life insurance is available in various amounts, so you can choose a death benefit that meets your needs.
But there are other considerations to keep in mind. You can use life insurance ...
As mortgage protection. Whether you live by yourself, with a spouse or significant other, you may want to buy life insurance as a mortgage protection. Think about it: You do not want the person you live with being homeless if you die unexpectedly, do you? Life insurance can be used to repay a mortgage balance. Just select a term that matches the duration of your payment period of the mortgage. Some companies even offer decreasing term insurance, which means that the death benefit decreases as well as the balance of your mortgage.
For income replacement. You and your significant other may have planned for a future based on two incomes, but if one of you dies unexpectedly? Life insurance can be used to replace lost income so that the survivor can maintain the same standard of living.
To finance college. Yeah, I know. You have children, so that it only applies if you do or if you have grandchildren, you want to help. Have you seen tuition rates lately? Life insurance can help pay for a college education. If you die, the death benefit can be invested and grow potentially the amount needed when your children or grandchildren reach college age. If you have permanent policies, the cash value can be used to help fund tuition. Feel better knowing that you helped prepare for the future, even if you are not there to see it.
There are advantages also some additional provisions, if you do you can not be aware of.
protect inheritances. If the beneficiary of a life insurance policy is a person appointed and not your estate, the death benefit is exempt from probate.
Incontestability. After the policy is in force for two years, it becomes undeniable, which means that the policy can not be revoked, unless it was obtained fraudulently.
free from the claims of creditors. In many states, the cash values of life insurance policies are exempt from the claims of creditors if the policy is owned personally.
So, are you beginning to see the need for life insurance? You call your agent now, right? Do not put it off! Remember, the younger you are when you get the insurance, the higher the cost and the easier it is to get approved.
The 8-Pound ... Fierce Defender against life insurance?
The 8-Pound ... Fierce Defender against life insurance? -At some point after birth * of our second child, my husband and I, like any good, responsible (even reluctant) adults, has decided to seek insurance extra life. You know, because as horrible as it is to contemplate, we are mature and grounded in reality enough to know that bad things happen. In addition, we look at a lot of movies, so we realized that it was essential to ensure that the other person would be expected if one of us was hit by a bus' runaway (thank you, Keanu) or train (Denzel) or something more suburban like a rogue lawn mower (STEVEN KING GAAAAH).
Anyway, when you apply for life insurance, you are sometimes given the choice of 1) a place to go for some checkups thingies, including blood tests, or 2) to have someone come to your house and do them. As I am not a fan of A) places or B) who do things, I opted for home testing.
Of course, I forgot the part where a "home testing" actually takes place, uh, in your home. Where are your kids. ... And all their things and disorder and other things. And your dog barking thinking set foot on the premises every person must be barking at the point of deafness.
The guy who showed up for my home testing was perhaps the crankiest person I've ever met. His mood did not improve once he realized that I had ... oh, horror, CHILDREN. Small. sticky. the Smartalecky who welcomed him at the door with shouts of "DAD!"
He was there to stick needles in ME and take blood from me and I basically spent the whole visit by trying to get comfortable with confidence that my children are not going to touch or sneeze on it or otherwise infect him. **
They, however, will beg in turn standing on the small scale that he had brought. And show that toy! And this toy! And look, here's Lightning McQueen and is a famous race car and Mater and also tractors!
"So, are you having children?" Asked he took my blood pressure.
"Um, we're not sure yet," I l I said worried, worried that he might take this answer and mark down on a form as a clear sign of mental instability, MUST bE COMMITTED pAS INSURED.
"Hrrmmph," he responded.
I do not expect everyone to love my children, of course. I mean, they are tacky. they are sometimes nothing more than walking germ containers.
I do not expect everyone to love my dog, either, which is why I closed his little 8 pounds yappy self in the bathroom when Mr. Bleeding happened. it is small and safe, but I've come to accept it STILL scares the crap out of non-dog people. I do not take personally or try to tell people that they are ridiculous because it is the size of a loaf of bread and equally fierce, so I tried to take child obvious terror of that guy in the same stride.
We were almost finished with all health business when suddenly ... DOG. One of the children had let her out of the bathroom and ooooooooohhhhh lawdy she was crazy. She came barreling into the room, nine kinds of hysteria to be denied the chance to defend my honor against this intruder, and ...
M .. Bleeding fell to his knees and began to speak in baby talk and had my dog in her arms in about 15 seconds flat. He said it is the cutest little thing he had seen all day schmoopsie Poopsie poo. Awww.
And that was that. I was later approved for our additional policy, which was good, because if I ever have to go through a home test again, I'm not sure the kids would enjoy being locked in the bathroom instead of dog.
* toddlerhood completely still qualifies for "at some point" criteria .
** LIES
Boomer women have to start planning-Now
Boomer women have to start planning-Now -We like to think that when we retire, we will have time to do all the activities that are on our "bucket list. "We are going to travel, spend time with friends and family, to explore new possibilities that will improve our lives and expand our sense of possibility. But to have retired from the life we desire, we need to start planning now. in his post, is 10 retirement magic number? Marvin H. Feldman, CLU, CHFC, RFC, president and CEO of the LIFE Foundation, highlights the results of a Lincoln Financial Group study identifies four behaviors that contribute to retirement success:
- Getting advice from a financial professional
- participating in a pension plan sponsored by the employer or the IRA
- Backup regularly and make additional contributions over the years, "energy saving"
- Have an investment strategy
Unfortunately, the opposite often occurs. There is little or no advance planning to retire in the form of higher savings and investment, and focus more on what we might call wishful planning, hoping the additional retirement income may come the sale of the principal residence (despite the recent uncertainty in the real -estate market) or an expected inheritance. The result? A retreat in danger, at a stage where earning capacity may be severely hampered, if not impossible.
Although there is no doubt that a financial planner can provide useful advice on this investment vehicle will better provide the "gold" for the "golden years" you must also engage in pre-retirement self-education: this calculation, you will need after retirement, income options investigation and initiate a plan that will give you the future you desire
[1945008dépensesderetraite] Calculation
According to Penn Mutual Worth for Women website, it takes about 80 percent of pre-retirement income to maintain a comfortable life, which equates to $ 60,000 for someone had been earning a pre-tax salary of $ 75,000. (You can use the calculators on the site to help.) While some work-related expenses can be reduced (business meals, clothing costs, transportation costs), other off-gos budgets may increase. Health care may cost more, while inflation may lead to higher costs for everything from fuel to food. By calculating what your post-working living expenses will be and what you should save now supplement your retirement income, you will be better prepared for the day when you cash your last paycheck.
pension
study financing options
Although the investment and retirement accounts are two ways to build a nest egg, there are additional options in the pre-retired section / retired life, one of which is a permanent life insurance policy. Although the main objective of the policy is to provide lifetime protection, it also accumulates a cash value on a tax-deferred basis, providing a source of funds that can be used for any purpose, including as retirement income.
Another strategy is to buy a life annuity. It is sort of DIY pension plan, you provide a specific lump sum to an insurance company and in return, they provide a guaranteed stream of regular payments for any period you have chosen. (The Insurance Information Institute has an informative section on annuities while immediate annuities, you can calculate your annuity payments.)
Finally, disability and ensuring long-term care can also help protect your retirement savings. The first provides an income if you are unable to work due to illness or injury (protecting your current savings for post-retirement use), while the second covers the cost of using health care home, an assisted living facility or a nursing home. LIFE Calculator disability insurance needs helps you assess the income you need to maintain your current standard of living if you become disabled, while the long-term care insurance section provides answers to questions about the assurance of long-term care.
Initiate your lifestyle retirement plan
Start by determining what stage of life of retirement you are, based on this breakdown provided by Boomertirement website.
- working Boomer: 10 years and counting to retirement
- Near the Boomer Retirement: Less than 10 years until retirement
- Restated baby Boomer: No more work
If you have reached the stage of retirement, it is not too late, said Boomertirement. You still need to live within your means, since your retirement could last 20 to 30 years. You also need to make plans now regarding the distribution of your assets to your heirs, to reduce the tax consequences. (More tips are available on Living Well in Retirement section on value for Women website.)
The bottom line is to be proactive rather than retirement planning reagent . Take action now and the years of your post-employment the best years of your life!
The Tsunami Silver
The Tsunami Silver - I read an article in the New York State Bar Association Journal by Robert Abrams who discussed our aging population and money from the tsunami. The article included some interesting and disturbing statistics. 
- In 2030, one in five Americans will be 65 or older.
- As we age, life expectancy increases. Individuals who are 65 years of age can project they will live into their late 70s or early 80s Some will live well into their 0s, and some will become centenarians.
- Millions of Americans have or will suffer from temporary and / or permanent mental disability.
- More than 5 million Americans have Alzheimer's disease, and that number is expected to increase significantly over the next three decades.
- millions of Americans do not have advance directives such as a power of attorney or health care proxy, or they have documents that are obsolete or have been executed incorrectly.
- because of the absence of advance directives and / or resources (money), many Americans become subject to costly guardianship proceedings and contested creating stress on family members who can not agree on health guidelines or asset allocation.
- millions of Americans have either failed to develop a succession plan and / or have an estate plan that is either incomplete and / or will not be implemented in accordance with their wishes because of the non- compliance and / or lack of familiarity with "the law." This requires the advice of a lawyer.
- families are the centerpiece of American life. Many older Americans have been married two or more times. Many have concerns about other family members, including adult children with special needs and their parents so their parents! How many of you reading this are or will be taking care of your aging parents?
This demographic explosion, the tsunami of money, can forever change the American way of life.
The article also revealed that when it comes to preparing for the elderly years, there are three kinds of people :. Geriatric Gamblers, procrastinators planning and Pragmatic Planners
geriatric Gamblers: are risk takers who choose not to plan for the elderly years, even if they know such inaction increases the likelihood that 'they and their families will needlessly suffer negative consequences when they meet one or more of the vagaries of life
Procrastinators .: planning they recognize the importance of planning, but they believe there is no reason to provide for older years today. Preparation for older years can wait until tomorrow, assuming, of course, there is a future. This may have adverse consequences
Pragmatic Planners :. Although they can not predict or control the future fully, they acknowledge that at least they can prepare for these questions, they are likely to face. The main objective of pragmatic planner is to minimize the strain on themselves and their family members when difficult challenges arise, such as the need for long term care.
Unfortunately, not enough of the Silver Tsunami are or will become proactive and pragmatic planners, but it is clear that the use of family, friends and government programs are not a good option, even if it is the default choice. Perhaps the time has come to take the lead and to reach out to your estate planner, lawyer care to seniors and financial advisor to create a comprehensive plan for you.
When did stuffing money under the mattress Become a pension plan?
When did stuffing money under the mattress Become a pension plan? - 
"When asked to respond to several statements on the state of the economy, 27% of nonretirees said the safest place right now for the money that remains after the payment of expenditure "under my mattress. "
This is what Linda Koco, Contributing Editor of AnnuityNews, wrote in the article annuities rival silver mattress, on the basis of Allianz study on the use of annuities for retirement savings. It found that the difficult economic situation is causing consumers to make difficult retirement savings choice between annuity and other pension plans, investments and money mattresses, according to the survey results.
When asked study participants to evaluate several factors related to the creation of a more secure retirement, 86 percent said "having a flow guaranteed income in retirement. " And nearly half (47 percent) of non-retired evaluated a guaranteed income stream as the top retirement need they have yet to learn to feel more secure
What they describe are the advantages of an annuity :. Guaranteed retirement income. However, only 8% said they have nonretirees annuities, according to the study.
The results of the survey confirmed that Americans want more guarantees in retirement, but simply do not know what to do to create financial security. The takeaway here is that more education is clearly needed about annuities.
additional numbers of Allianz study show a surprising retirement landscape.
- Only 18% have guarantees through a pension.
- Nearly 40% of non-retired Americans say they have no retirement or investment products of any kind.
- 30 percent of nonretirees say they have either reduced the amount they save for retirement or have stopped saving altogether.
- 26 percent say they still have no idea what they need to acquire in order to feel their retirement will be secure.
- 28 percent said, "I would be more heavily invested in annuities that I am now."
- 51 percent said the recent stock market volatility has now asked them if the retirement savings vehicles such as 401k, 403b or 457 plans are sufficient means to save for retirement.
The bottom line. If you want a safe, secure retirement a guaranteed income for life, use annuities in your planning
Dollars for Pennies Apiece
Dollars for Pennies Apiece - 
This is what we sell in our industry. Dollars for pennies each. Dollars for future delivery at a time when they are most needed. These are the products received by life, disability and long term care insurance.
Compare the premium paid annually for the ultimate benefit to be received by the time you, your family or your business need most; when the policy pays the product it was designed.
Let me demonstrate what I mean. If you are a 45 year old healthy decisions $ 50,000 per year, you would probably qualify for 10 to 20 times your income in life insurance, and the basic rule is that you will need at least 10 times your income in life insurance. Suppose you buy $ 500,000 of new life insurance. How much does it cost?
A value of redemption permanent life insurance policy with a level premium paid up to 100 years would cost about $ 300 a month while a term life insurance policy would be less than 20 years $ 50 per month. Compare premiums paid to the nominal value of the ultimate death benefit policies to receive. The policy of permanent cash value costs less than a penny per year for each death benefit dollar. This means that you pay less than 1% of the face value of the policy year to give your family the ultimate benefit of $ 500,000; less than a penny per dollar by year. Now that is what I call dollars for pennies each.
Tips for saving money on your life insurance
Tips for saving money on your life insurance - Nobody likes to pay more money for life insurance as required. Everyone knows that life insurance gets more expensive as you get older, but there are strategies that can help you save money on your policy. Here are two tips that could help you save thousands of dollars over the life of your plan
1: .. Figure how the insurance company determines your age
The n 'there are two ways that the insurance companies are based on your age when you apply for life insurance. Your age will be determined either by using your actual age, ?? or use your nearest age. If they use your real age and you are under 44, then they will use age as a basis for your life insurance rates.
It is more common for companies use a process that is known as the closest age. This calculation is determined simply by seeing if you are close to your next birthday or your last. Using this method, if you turn 45 in three months, the insurance company will give you the rate for a 45-year-old, which are more expensive than those for age 44. As a result, you might be able to save money if you choose a life insurance company that chooses your real age if you have a birthday soon
2 :.
another strategy backdate your life insurance policy based on age. you can use to save money is to backdate ?? Register or age ?? on your life policy. Using the example above, if you turn 45 in three months, most companies would you rate as 45 years. However, did you know that you may be eligible at age 44 rates?
If you paid three-month return of premiums, which would make your nearest policy date of your last birthday, the insurance company will actually give your life for 44 years insurance rates ! This could result in substantial savings on the life of your policy because you are essentially paying for term life insurance rates of age who is a year younger.
For example, say that the cost of insurance for 44 years was $ 10, and the premium for 45 years was $ 1,300. You have the option to pay an additional three months premium, or $ 300, to save the premium to the previous year, saving $ 100 off your annual premium. It may not seem like much, but using this strategy would save you $ 100 per year for each year of a long-term plan of 30, you will end up saving $ 2,700 over the life of the policy.
You can save some money on your life insurance policy simply by implementing certain strategies based on age. They will not be options for everyone, but if they match your goals, the savings can be substantial. Be sure to check the information that the nonprofit LIFE Foundation is to choose the best type of life insurance for your situation.
William Rowan is the founder of eTermLifeInsurance.net, to a term of life oriented website consumer insurance education and comparison. His only goal is for consumers to find the best life insurance policy for their individual situation.
Property Taxes Finalized? Not really.
Property Taxes Finalized? Not really. -Congress finally resolved the issue of property taxes last month. Really? No, they put on another temporary patch for the next two years.
What does this mean for you? If your property is valued at $ 10 million or less and you are married, you might be able to spend your entire estate to your heirs without federal estate tax ($ 5 million exemption x 2). Anything over $ 10 million will be taxed at 35 percent. These figures are for 2011 and 2012 only. After that, there is no certainty that the tax rate will be because the current solution only lasts two years.
Customers are still confused. How do they make long term planning decisions when only short-term solutions are available? What if they have a life insurance for purposes of property tax, but no longer feel it is necessary for the exemption of $ 5 million? What if clients complete insurance and now find they need at a later date because, once again, changing tax laws?
This presents a number of problems. The insurance can be more expensive to buy later because of age or increased medical problems. It may not be possible if the medical condition of the person is severe. political outlook could change and not be as attractive or flexible.
The solution? Keep the current life insurance for two at least the next few years, even if it is necessary based on the 2011 tax rate and 2012. Life insurance is all about safety, security and guarantees. Here's what customers need in their planning, to maintain the current insurance until we see what 2013 brings. Then, hopefully, long-term decisions can be made.
Real Life
Real Life -One of the best things that the Foundation Life offers, in my opinion, is his realLIFEstories. These are not advertisements or commercials; do not use actors pretend to be someone else; they do not reflect an idealized situation. Instead, carefully realLIFEstories often tell heartbreaking stories of how people's lives, and the lives of their families, have been affected by death, disability or illness, and how insurance helped them see their way through these difficult times.
A recent video stays with me. John Butcher lost his wife and 6 Tre her mother when she collapsed and died one evening from an undiagnosed heart condition. It was a line that John said a line that hit home to me very simple: "The next day Kara died, I went to Tre dress but realized I did not know where any of her clothes were. Kara took care of it. "this, very ordinary daily event reveled the magnitude of change that would take place in their home.
Kara had purchased life insurance at work, and it was that life insurance that allowed John and Tre move through their grief and change that was their face without having to worry about money and make ends meet.
These powerful stories to help others understand what insurance really.
Those agents and advisors who read this blog may have stories of their own to realLIFEstories customer service LIFE Awards Program that demonstrate how insurance they helped purchase family has made a difference in a time of need. For more information, click here.
If the agent, advisor or "profane" like me, take a moment to watch the story of John here and think about how it could translate into your own life.
Women, money and power
Women, money and power- women, money and power. Is the title of a recent article by Aimee Johnson, who is responsible for the women's program for Allianz Life. According to Johnson, the women's market is still considered by some as a niche market, but it continues to set the record straight.
Nearly a third of women serve as sole or main breadwinner of the household, according to a 09 report on women in the workforce by the US Bureau of Labor Statistics. A more recent study of women and society also notes that 66 percent of wealthy women refer to themselves as the chief financial officer (CFO) of their family. Women also control 60 percent of the wealth in the United States and are involved in 0 percent of family financial decisions.
In other words, the market for women is important. What is equally important is that women are still not receiving the attention they deserve from the financial services sector, while gentlemen, pay attention. LIFE Foundation hopes to change this lack of attention.
The 07 Allianz Women, Money and Power study indicated that only 29 percent of women working with a financial professional. The study found that this was mainly due to a lack of comfort and trust with financial planning, despite the fact that these women are well educated, have successful careers and are managing their daily finances household.
So she asks where is the disconnect?
a main issue is that the financial services sector approaches the female market as a group with constant needs, but just like the men's market, they have many different life stages and financial needs.
The Allianz study found that divorce or widowhood plunged nearly half of all women in the financial crisis or pushing a major change in how they seek financial advice. The average age of widowhood is 58 and just over 44 percent of women over 65 are widowed, as nearly 10 percent of women aged 55-64 (Office of the US Census, 05-07 American Community Survey).
Some of the common challenges faced by widows set include real estate assets and re-titling; change the beneficiary designations on insurance and retirement accounts; establishing a new proxy, by examining the income requirements, and changing the tax status.
Although the initial conversation may need to focus on more immediate issues, such as credit card debt and the development of a new budget, a thorough review debate should occur approximately three areas -. insurance, social security and pensions, including ongoing contributions and distributions from qualified plans
Johnson then highlights specific concerns for insurance needs, social security and retirement. These points are too many to discuss in this short blog, but suffice it to say that women need professional advice to work in these areas.
This year, the Foundation LIFE focus our resources on the market and needs of women. We change our awareness campaigns to ensure we reach out to women in the age group 25 to 50 years, as well as traditional markets. Visit our website during the year for updates.
Single Parents and Life Insurance
Single Parents and Life Insurance -
Genworth Financial has just published a study finding that too many Americans who need life insurance coverage are uninsured, putting their families and futures at risk. According to the study of life jackets Genworth Financial 2011, lone parents at all income levels with children living at home have less insurance for their needs, which could leave their children with little or no options facing an unexpected death. Hear the story of Tracy Basden if you want to see what happens to children in these situations.
The research project found that 69% of single parents with children living at home is the highest percentage of uninsured Americans compared to married parents with children at home (45%) .
The Genworth study also found that only 49% of the adult population of the United States has some type of life insurance coverage. Single people, regardless of whether or not they have children, are 36% below the national level to cover life insurance, according to the study.
According to the survey, single male parents with children living in the household are more assured that single women at all levels of income. Again, Tracy's story is a poignant example of this.
Other findings.
79% of single men who are not homeowners, having children in the household and earning less than $ 50,000 per year are not insured, against 66% of women in the same category.
percentages do not fall dramatically as income increases. In fact, 79% of single men who are not homeowners having children in the manufacture of household between $ 50.000 to 250.000 per year are uninsured.
More than half (56%) of single women who are not homeowners having children in the household but making more than $ 250,000 are uninsured.
the level of uninsured households tends to increase as the number of children increases, particularly at lower income levels. The percentage increases considerably in the case of five or more children.
The study said that the insurance industry has the opportunity to better educate consumers and give them the tools and resources to help themselves and their families to protect. Sounds like they are talking about the LIFE Foundation. This is exactly what we do :. Educate consumers about what the life and health insurance products are, not just what they are, and encourage them to make the decision themselves and protect their families
Can you wait 0 days to replace (part of) your Paycheck?
Can you wait 0 days to replace (part of) your Paycheck? -
The most recent government statistics (09) for the program (SSDI) Social Security Disability Insurance.
- disability benefits were paid to nearly 9 million people.
- average monthly benefit received was $ 1064.30.
- benefits were terminated for 630.074 disabilities.
- workers accounted for the largest share of disabled beneficiaries (87 percent).
- The average age of a beneficiary was about 53.
- men accounted for nearly 53% of the beneficiaries.
- a mental disorder was the diagnosis for about a third of the beneficiaries.
the National Security Council in 04, a disabling injury occurs every two seconds in America, and Health Affairs reported that illnesses and injuries cause unexpected failures 350,000 per year. According to the Health Insurance Association of America, one in seven workers will be disabled for five years or more during their time in the workforce, and in 05, half of the foreclosures were caused by a deficiency due an unexpected injury or illness.
Yes, SSDI is a great program, but if you become disabled, you qualify, and if so, how long will it take before you start receiving benefits? What will you do for income while you wait to see if you receive SSDI? How long can you go without a paycheck before experiencing financial problems?
May is Disability Insurance Awareness Month the time to protect your paycheck. You have insurance to protect your home, your car, your boat and your bike, but do you have insurance to protect your paycheck? Go to www.protectyourpaycheck.org for more.
Pop Quiz See how you do!
Pop Quiz See how you do! -
The LIFE Foundation "This Moment made possible by My Paycheck" photo competition made me think of all those great moments of my own experience, and how our salaries and our ability to earn a significant income are each of us and our families. In this spirit, I offer this "quiz" that CIGNA developed to help people assess and strengthen their awareness of disability insurance.
1. True or False: People who work do not need disability insurance because they are covered by insurance for workplace accidents.
Answer: False. Insurance of accidents only covers injuries or illnesses acquired at work, while the majority of accidents and illnesses are not work-related, according to the National Security Council.
2. True or False: People who work can completely rely on their accumulated sick leave if they miss work because of illness or injury.
Answer: False. An absence related to disability can last much longer than the sick leave credits of an individual. Disabilities are not necessarily catastrophic events, but may vary from broken bones, pregnancy, surgery, treatment of a disease, etc. The recovery time is unique to each situation.
3. True or False: Most people have enough savings to cover their living expenses if they can not work because of a disability.
Answer: False. Disabilities can last for months or years, and many people are not saved enough to cover living expenses for long.
4. True or False: short-term disability covers a portion of the salary of an individual for a year.
Answer: False. Short-term disability insurance generally covers children up to about six months, while long-term disability insurance provides coverage for longer periods.
5. True or False: People who work do not need disability insurance as they have medical insurance.
Answer: False. Medical insurance offers protection for covered medical expenses, but will not replace the income is needed to pay a mortgage, car payment or other household bills.
If you got three or more right answers, good for you! But no matter how you did on the quiz, there is much more you can learn about disability insurance. The LIFE Foundation offers many great resources to www.protectyourpaycheck.org.
Although the value of having disability insurance can not be overstated, it is also important to be aware of programs that can help prevent disability.
Use your Employee Assistance Program (EAP). Many employers offer an EAP that can help people cope with stress, depression, addiction and work / life balance. Many disability absences are related to behavioral health problems such as these, so that the EAP can play a crucial role in helping people to stay healthy and avoid a lack of disability. EAPs are free to the employee and completely confidential.
Stay well and minimize health risks. Many employers offer programs to help you quit smoking, lose weight, eat better, sleep better, manage stress or get more physical activity. As a program of employee assistance, these health programs and wellness are generally free to the employee; so if you have them, use them.
Managing a chronic illness. programs that help people manage chronic diseases such as asthma, diabetes or heart disease are also important because they can help prevent chronic disease leading to disability. CIGNA A study shows that people who enrolled in a chronic care program and was a handicap missed nearly four days less than those with a chronic illness who has not participated in a program.
Be sure to take a moment during Disability Insurance Awareness Month in May to learn about this important coverage. This could be the most important thing you do for your financial security and well-being.
Dr. Anfield is Chief of the disability business of CIGNA. Make sure you listen to his podcast "Thinking the future :. How to Protect Your Paycheck "
Bull, Bear or Bewildered?
Bull, Bear or Bewildered? -
As we look at the economy, we realize now, there are more than the bullish and bearish investors. There are bulls, bears and bewildered. MetLife says there are actually 10 types of investors. Here is their list: ..
- snoozers - People who do not think about the future risk of all
- assets Resisters - People who choose to ignore the risk information future
- Anxious fixed - Those who can understand future risks but whose anxiety prevents them from taking action
- Oversleepers -. Those who can consider their time to act as
- Wood Knockers "come and gone.." - "Work on" They choose optimism, and hope that things will
- Plan B-ers - people who have a contingency plan, but the plan B can be a "plan" that the name
- Realistic -.. investors who use past experience to think about the future
- Stewers and Brewers -. Stewers stories and fret while Brewers play with ideas and planning strategies
- conciliators - Those who think today and tomorrow and balance their current needs against future risks
- preemption Planners - .. investors looking to anticipate future risks and their consequences
Americans optimistic about their personal finances
Americans optimistic about their personal finances -
A recent study of The Hartford found that Americans are optimistic about their personal finances and saving for retirement. The study shows increased participation in 401 (k) s and other defined contribution plans, especially among baby boomers, Generation X and men. More Americans say they are confident that their personal finances will improve over the next 12 months, and this trend is reflected in more people saving for retirement.
The Hartford found that participation in 401 (k) s and other defined contribution pension plans by employed adults rose to 76% overall in 2011, up 71% in 2010 and up 63% from two years ago. Three groups showed the biggest gains:
- participation-boomers closest to retirement increased to 79%, against 71% in 2010 and 63% in 09.
- 77% of generation X or 32-46 years contributed to their employer pension plan in 2011, an increase of 71% in 2010 and 67% in 09
- participation men jumped to 81%, against 71% last year and 66% two years ago.
Overall, most Americans were surprisingly optimistic about their financial future. Asked about the next 12 months, 34% of survey respondents said they were "extremely" or "very confident" that their lives would be improved. Those expressing optimism cited expected improvements in personal finances:
- 53% of said debt reduction and increased savings were part of their financial goals
- 52% said they were "extremely" or "very" confident their personal finances continue to improve
- 42% said their financial future was their main goal.
If you are in one of these groups, perhaps the moment has come to reach out to an agent or a consultant to financial guidance necessary to make financial decisions appropriate long-term.
4 reasons not to count on (Broken) Government Program
4 reasons not to count on (Broken) Government Program -
What you happen financially if you were injured or became ill and were unable to work? Your answer might be, "Well, there is a disability program of the government. I'm not really sure what it was called, but I know he is there as a backup if I need. "
Are you sure?
First, we will cross the compensation of the list of workers. This government program only covers you if you are injured or ill as a result of your work. According to the National safety Council, 0% of disabilities occur outside of the workplace, so chances are you will not be covered by the Comp of workers.
Next, examine the program social security disability insurance, which pays disability benefits independent of where the disability occurs.
"Great!" you say. "that's what I'm going to press."
Not so fast.
Did you know that the social security disability insurance program is about to go bankrupt? as reported in this article insurancenewsnet "the dismissed workers and of aging baby boomers are flooding the disability program of social security with applications for benefits, pushing the cash-strapped system to the brink of bankruptcy. " According to congressional estimates, the money in the program is due to short in six years
Section continues to underline a second reason why you should not rely on this program :. "The rush of benefits is adding to a growing backlog of applicants-many wait two years or more before their cases are resolved." (You can read more about my position in disability insurance Month awareness in May.)
now, a third reason to reconsider rely on the government. The federal government defines a disability very narrowly as "unable to perform substantial gainful activity because of a medically determinable physical or mental impairment which can be expected to result in death or has lasted or can be expected to last for a continuous period of not less than 12 months. "There are no benefits for short-term disability or partial disability.
and finally, if you were to qualify, the average benefit hovers around $ 1,000. This gives you a" . pay "annual which is below the poverty line
This should make you rethink your strategy to protect your paycheck in the case of a disability Just ask yourself this. How long pourrais- I go without a paycheck before experiencing financial problems? Then take the next step to learn more about disability insurance.
My Embarrassing Admission
My Embarrassing Admission -I have an admission really, really embarrassing to do: Jon and I have no real life or disability insurance. I mean, we have a bit-basically what I'm able to access through my employer, which I think is equal to one or two my salary, but nothing more than that.
Nothing to pay our mortgage.
Nothing to heal or educate our children if one or both of us are not able or around to.
Nothing to pay for long term care if one of us takes full hospitalization time or nursing home after an illness or accident.
Nothing.
and I know how awful that is. I really, really do. I do not make excuses. I am fully aware of the serious consequences that would follow if I were to die or become disabled before fixing this problem. That's why this blog is the first time I admitted this incredibly irresponsible thing about myself to anyone-because I know how it is, and I was really mortified by my inability to take care of business . But one thing I've discovered in recent years is that if I'm too embarrassed to say anything out loud, it is quite likely that many other people are in the same boat. Maybe you are one of them. That's why I decided to come clean and share my plan to finally address this serious situation risky in which I left you to finish our family.
So how have I-40 something married mother of five, the main professional support to our family, myself without owner-find enough life or disability insurance? Well, I'll tell you how. Back in my 20s when my older children were babies and small children, I kept putting it off. For starters, the money was really tight at the time, and a healthy 27, the idea of dying or becoming severely disabled seemed so unlikely that even if I continued to talk about how I had to know how buy the right insurance, I just never did. Even then, I knew in the back of my mind that I was taking a big risk, but some other charges seemed always come first. "I'll take care of that later," I thought. But "later" just never seemed to happen. Even when I hit my 30s and really learned that I really need to take care of this important responsibility, it seemed so confused. I found myself overwhelmed and intimidated by trying to understand the whole of life insurance "thing." Everyone I asked about the subject of insurance seemed to have a different recommendation. The options were confused, and left me paralyzed with indecision. So I kept putting it off.
At one point, a friend did not recommend his insurance agent. She assured me that he would explain the life insurance options in a way that I can understand and help me walk through the types and brands of countless political and confused, and find me the best price. Instead, however, that particular agent was uncomfortable persistent, and since I already felt very intimidated by this task now much delayed buying the life insurance and disability law, his style, which have aggressively could be good for some customers, but ended up being the bad match for me, given me yet another excuse to turn and run the other way. I stopped answering the phone and deleted voice messages.
And another year passed without me locate and purchase insurance, I was now painfully aware that I had. And another ... and another ... and then, at some point, the fact that I did not have enough insurance has become its own stumbling block; I was embarrassed to take the phone and call an agent, knowing that I have to 'fess up to what I had put this off for so long. I worried that I would be judged, so it gave me yet another (bad) justification to continue to avoid my responsibility in the matter.
But now I know that the time has come. I can not hide it for another year, and I know that. This knowledge that I have to stop avoiding the issue has weighed very, very heavily on my mind lately, so it was rather fortuitous when the LIFE Foundation asked me if I wanted to blog about my personal experience as a parent with the most important type of insurance thing I have to take care of on behalf of the family, I love the family that depends on me. I'm not sure that the LIFE Foundation realized when they reached me they would get as a naked soul of admission, but I decided that I go ahead and tell the truth on my own inability to care. this critical financial planning necessary in the hope that others might be able to link
So let me introduce myself: Hello. My name is Katie and I am an adult and a parent who does not have enough life or disability insurance. I guess some of you and probably some of you may be in the same boat. But starting today, Jon and I will be using online planning tools decidedly non-intimidating (and free) to LifeHappens.org to understand what the heck we need, and how much, and that it will cost. And armed with that knowledge for the first time (!!!), we will actually talk to an agent-whose style is a good match for us to know how to proceed to the second step in the process of protection people we love the most.
course, I have done much earlier, but with something this important, what I do is important now more than I do not have it then. I know, and for any of you who may be in the same place, I wish to "come clean" myself, you may be inspired to take that first step for yourselves and your families as well.
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