Insurance Admin

Dedication to helping consumers make smart insurance decisions

Your kids are great but did they go?

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Your kids are great but did they go? -

Your children are grown, and you think the First National Bank of Mom & Dad is closed. Think again!

The recent Wall Street Journal article "The Big Squeeze" almost half of adults aged 40 to 59 has provided financial support for at least one adult child last year, with 27% providing the primary support. In contrast, 21% of this group provide financial support to a mother age 65.

The point is that you may still need that old policy of life insurance that you plan to drop because your kids are great. And when you have grandchildren, the window of the bank's drive-up is open 24/7.

If you are their means for financial support and are no longer here to provide, how is your turn to family for help? The government? Social Security? Friends and other family members?

Maybe it's time to take a financial inventory and make sure that you take personal financial responsibility for the care of your family. If you need professional help, find an agent or advisor LIFE Locator agent.

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Woops: Do not let your Lapse life insurance policy

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Woops: Do not let your Lapse life insurance policy -

Everyone knows that sinking feeling when you realize that you forgot to take care of one important point . It could be something as minor as forgetting to set the DVR for your favorite reality show. Or maybe something important, like leaving home with a pot of boiling water on the stove. As a quick punch to the gut, the panic hits you like no other. I felt the same sense of panic when I realized I had to leave my life insurance policy lapse.

Like most young and growing family, my life insurance needs have changed over the years. When I married, I bought a long-term policy for $ 250,000 to take care of my beautiful new wife if something happened to me. After our first child, a new wave of responsibility hit, and I felt the need to take a long term $ 500,000 additional policy.

A few years and a second child later $ 750,000 life insurance do not seem like enough, so I took an additional $ 1.5 million long-term policy. The three policies were with three separate carriers, which makes keeping track of when the premiums were due a bit of hassle.

Since we liked to pay insurance premiums on an annual basis, we waited until we premium invoice in the mail mailed out a check prior to the life insurance company. In recent years, it went without a hitch, until now I have had a seemingly innocent conversation with my wife.

Uh oh ....

Two small premium policies had dates that were close enough. With the bonus of $ 250,000 maturing, I considered dropping it and just keep the two biggest political. I made a comment to my wife, who usually handles all the bills in our house, to go ahead and let the forfeiture of the smaller font. Be a horrible delegator, I did a bad job of explaining it to the company that was that, so instead of letting the $ 250,000 policy lapse long term, it left the policy lapse wrongly $ 500,000.

Woops ...

To make matters worse, I did not catch the mistake until several months after the date of the premium was due. Remember that panicked, sickening feeling that I talked about? This is when it hit, and oh boy, he hit hard. My mind started racing on what I need to do to get the policy reinstated. I knew I was still young and very healthy, so the worst case was locking in another affordable life insurance policy should not be a big problem. But knowing that the subscription process could sometimes take four to six weeks, it is something I am not crazy to go through again, not to mention the fact that I'm not a big fan of being bitten by needles

Placing on the phone

at the first opportunity, I'm on the phone and called the insurance company, preparing for the worst. After obtaining the representative of customer service on the phone, I realized it was not as bad as I had originally planned. I learned that most insurance companies allow a so-called "grace period". This grace period is a time, about 30 to 31 days after the premium was due that allowed you to send in payments of premiums and your life insurance policy will continue without interruption.

Apparently I'm not the only one missing payment of life insurance, thank you God. As I mentioned, I'm well beyond the period of pardonable through, so in the world of life insurance my police had officially expired. The representative of customer service informed me that all I had to do was request a form called the application for reinstatement.

Once I completed this form and mailed in control of the entire annual premium of the policy would be restored. She did tell me that if I had health problems that occurred after the policy had lapsed, I must say that on this form. As you can see, for someone who has some type of high-risk pre-existing condition that could be fatal.

How to avoid this

I am one of the lucky ones who was not injured, leaving my lapse policy, but I certainly do not want that to happen again. Instead of manually sending a check to our life insurance premiums, we now have it on auto-draft. In this way, we must experience it again!

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Disability Divide-Misconceptions That could be costly

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Disability Divide-Misconceptions That could be costly -Many people get their benefits through work and consider them as an important part of their total compensation package. Last August, the Council for Disability Awareness (CDA) interviewed over 500 HR professionals whose job is to help employees understand, navigate and take advantage of these benefits. This may he published study " Disability Divide: Employer study ;" Here are some ideas shared HR professionals:
  • 73% said they thought that employees of their company considered "the ability to earn income "as their most valuable financial resource ... more valuable than their retirement savings, homes or medical insurance. Yet only 26% think that their employees considered "very important" to prepare for the failure , and only 26% believe that their company's employees were prepared to financially survive a disease or a related loss of income injury.
  • In a previous research project when CDA surveyed more than 1,000 employees, the employees themselves had similar responses. They overwhelmingly said "their ability to earn income" was their most valuable resource, but when asked their level of agreement with various statements about their attitude about the preparation in case of disability, the they were most likely to agree with was: "I never really thought"
  • most HR experts believed employees should plan on disability. at a young age, but acknowledged the fact that most do not provide until they are in their 40s, or 50 years, or never. This impression is confirmed by the facts: about 100 million members of the US civilian personnel have no private disability insurance
  • Finally, most professional human resources and. employees significantly underestimated the risk of suffering a disability during their working years
Here are some facts :. staff Disability Quotient (PDQ) calculator: a man aged 35 , average height and weight, office tasks, average life style, non-smoking no further health history faces a risk of 13% of long-term disability before retirement . F or a 35 year old woman with a similar risk profile, chances are about 18% she will experience long-term disability before retirement. During the investigation, when the ADC asked the employees and HR professionals what they thought the chances were of disability, most respondents either 1% or 2% -. Much lower than the realityDu income Only possible Quotient (QIS) calculator those same 35 years, if winning $ 50,000 per year today, is likely to win something like 2.4 $ million before end career mostly an almost incomprehensible sum.If the type of 35 years had $ 100,000 in cash, they would go to the ends of the earth to avoid losing. Yet, given their earning potential $ 2.4 million, with a risk of loss in the range 13-18%, most employees say "I've never really thought about protecting it." Something wrong with this picture Some takeaways: everyone who needs their income to survive financially, which is almost everyone who works for a living , needs to protect that income. the risk of loss and the value of potential loss are simply too high to ignore at any age.Historically, it was considered less important for employees to protect their income as they approach retirement because many had defined benefit pensions, most had savings, dependent children were long gone, and the houses have been paid. for many in their 50's and even 60 years today, the current result is very important because they are struggling to save enough for retirement when house prices and many investment portfolios have stagnated, many are still supporting children and some grandchildren are even supporting and parents. Thus, income protection remains important.For younger workers, many will never see a pension plan, future rights may not be as robust, they are likely to share the cost of their benefits and make decisions about which benefits are most important, and most change jobs relatively frequently. The bottom line is income for this group will be more important than it has ever been, and take personal responsibility for income protection is obviously important Bottom line :.
  • The risk of disability is still too high to ignore, regardless of your risk profile. Low risk does not mean risk.
  • If you need your income, and most people do, you must protect your income.
  • The time to protect your income is now; once disability occurs, there is little planning can be done.
  • For younger employees, it is easier to get disability insurance, and the cost will be lower when you are younger. Make planning income protection at a young age not only protects the largest amount of revenue for the longest period of time, it also protects its insurability. Just because you're healthy and can benefit from the income protection insurance today does not mean you'll be able to do tomorrow. There is always a risk that future circumstances, health and moreover, it can be difficult to find an adequate income protection.

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What a living will is (and why you should care)

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What a living will is (and why you should care) -

Do you have a living will? Fewer than one in three Americans have a living will detailing if they want survival medical care if they are unable to communicate their medical treatment preferences, according to a new survey by This means that you could potentially leave legal problems for your family if they are unable to communicate your medical wishes.

A living will, also known as a directive or health care directive to physicians, is a document in which you can indicate your instructions in advance what medical treatment you want to receive in if you are unable to communicate those wishes because of an illness or disability to communicate. In certain conditions, allows doctors to refuse or withdraw life support systems. In the absence of a living will, medical decisions are usually made by a spouse, guardian, health officer or the majority of parents and children. But if family members disagree and doctors have trouble deciding on appropriate medical care, the issue may have to decided in court, and this could be a significant legal, family and financial problems.

"Without a living will, there is no clear direction for families and healthcare professionals to follow in terms of what types of care should be given or withheld in the event you become incapacitated or unable to communicate your medical treatment preferences, "says Stephanie Rahlfs, an attorney and editor with" living wills and health care directives allow you to specify what treatments you want and that will take decisions when you are not able to. otherwise, misunderstandings and disagreements between the family and other caregivers can lead to delays in treatment or carrying out actions that are contrary to your wishes . things must be specified in advance by a living will. "

It is important to ensure that your life will be consistent with your state laws of residence. This is especially important when you have homes in several states.

It is also extremely important for your health care guardian (the person appointed proxy your health authority) to have copies of all these documents. Keep the original in a place where family members can find it easily. Depending on your state, you can sign multiple copies, each witnessed and certified, and give an original to the persons concerned, such as family members and family physicians. However, if you change your mind and revoke or change your living will, make sure you destroy all originals and copies.

These are important decisions to be taken with careful consideration and advice of your lawyer. If you do not have a living will and a medical power of attorney, please contact your advisor today. The cost of preparing these documents is nominal. The cost of not having these documents and need could be huge.

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Are you ready financially?

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Are you ready financially? -

Fifty percent of the US population represents only 2.7% of all health spending, while 5% accounts for 49.5% of all expenses health, according to the Kaiser Family Foundation.

The life expectancy at birth of an average American was 62.9 years in 1940, five years after Social Security was created. Life expectancy is now 78.7 years (source: Center for Disease Control). As a result of this increased life expectancy will require $ 293,000 to pay for health care after retirement which is not paid by health insurance, according to Kaiser. Are you financially ready for this?

Are you financially prepared to raise your children? A child born in 2012 will cost a higher income families (those making at least $ 105,000 of income before taxes) $ 399.780 in 2012 dollars (in the amount of current value) and $ 501,250 dollars inflation adjusted 17, and that's not including college (source: Ministry of Agriculture). How it will be paid if you were to die or become disabled today?

Will you rely on your family business? Only 30% of family businesses survive to the second generation, 12% in the third and only 3% in the fourth and beyond. Many times this is due to a lack of planning and lack of liquidity. You can provide planning. Life insurance can provide money.

A crisis of underinsurance
According to Statistics LIMRA in 2012, men and women are less likely to own life insurance today than they were in 04, and the likelihood of being without life insurance has dramatically increased for every age group since that time.
• Only 61% of men and 57% of women have some sort of life insurance half as much coverage in 04.
• The likelihood of having husbands life insurance decreased in all levels of low-income, middle and at ease, since 04.
• women of all ages on average smaller amounts of individual life insurance than men of the same age.
• On average, women have $ 129,800 of individual life, while men have $ 187,100 of individual life insurance coverage.

Now is always the best time to take personal accountability to determine whether life insurance should be part of your planning and how much is appropriate. Whether you choose to search online or pick up the phone to call your agent or advisor, the time has come to take action. Do it today!

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5 events that should trigger a life insurance examination

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5 events that should trigger a life insurance examination -

In recent weeks I have received a number of questions from readers of my blog requesting to replace their life insurance. Jim asked to change his whole life policy because it could no longer afford it. I have another email from Nancy. Because her husband died, she wondered if she needed to raise her existing coverage. The circumstances surrounding these individuals are different, of course. But there are distinct life events that should trigger a review of your life insurance

Here are the top 5 events :.

1. Births, deaths, marriages and divorces: Whenever there is a major life event in your family, it makes sense to review your insurance coverage -life. Indeed, these changes generally alter the reality of your finances big time. In the example above, when Nancy's husband died, she suddenly became responsible for all the family. Although she is in her 50 years, she has absolutely need more life insurance.

Keep in mind that in both directions. For example, when your children become independent, your costs are low and you might not need as much life insurance. Similarly, if your spouse gets a great job, it could also reduce your need for life insurance.

2. Change in Financial Position: In the introduction, I mentioned Jim. He lost his job and cover life insurance, too. On top of that, he did not have the income to keep premiums at its existing coverage. So he needed more assurance, but he also needs to reduce its premiums. He spends the term whole life to achieve both objectives. In his case, he really had no alternative.

But other changes in your financial situation could mean that you need less life insurance. If you sell a property or business for example, you could suddenly have so much cash that you really do not need life insurance.

3. Retirement: If your retirement plan works, you have enough money to retire passive income generated by investments and pensions. Depending on your situation, this could mean that you no longer need life insurance. On the other hand, if your spouse would not be enough to income if you were to disappear after you retire, you may need life insurance.

4. Tax Changes right: At present, very few people need to worry about estate taxes, but that could change at any time. If you end up having a taxable estate, life insurance is a great way to solve this problem.

5. Every two years: If you read between the lines, you can see that many of these trigger events are impossible to predict. And even if you know something will happen, you can not guarantee that you will be insurable when they do.

This is why the most important trigger is the time. Insurance is designed to protect your family against possible future risks. Nobody is going to sell you a life insurance when you are in an ambulance or lying in a hospital bed. Sure, you can buy a life insurance without physical, but there are limits. That is why it is important to have the right cover in place against foreseeable risks. By all means, if one of these triggering events that happen to you, reevaluate your life insurance coverage. But even better, reassess your requirements every two years just to be on the safe side.

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Understanding Insurance Ratings life

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Understanding Insurance Ratings life -


Everyone who applies for life insurance is evaluated for coverage. Insurers offer coverage and premium rates in accordance with the risk level of an applicant. To that end, insurance companies generally place candidates in the categories relative to their risk involving their health and lifestyle choices. Smoking, for example, as a behavior associated with health risks will have an impact on the category to which a candidate will be affected. Sometimes a person, because of health problems or lifestyle factors, can not fit into standard categories and will, instead, be assigned a table rating. While obtaining a policy is still possible, table dimensions are associated with higher premium rates.

The life insurance applicants and basic classifications
After completing a medical examination, your insurer will review your test results and other factors such as the history of family health and lifestyle choices and you stand in one classification or category. Although the choice of words may vary, most candidates in search of life policies as a long-term policy, for example, fall into categories such as select, preferred, more preferred and standard standard. In addition, smokers have their own classifications such as smoking and smoking favorite standard

What are the average basic classifications
Preferred Select.? Sometimes referred to as preferred elite, super favorite, or most preferred, that category is associated with excellent health, weight and profile of normal size, and not other factors that might suggest an increased risk for health, such as death of a family member due to heart disease before age 60, for example.

Preferred :. This category is associated with good health, but there may be some minor problems, like a slightly high cholesterol, for example,

more standard: Although associated with optimal health, there may be some factors that prevent the applicant from falling into a favorite category such as hypertension or overweight

standard :. This category is associated with average health and a normal life expectancy. Minor health problems may be present or, perhaps, the weight is not optimal. Factors such as these coupled with the death of a parent due to the disease before age 60 could also be related to this category

favorite Smoking :. This category is for a person who would otherwise be included in regular favorite category, but smoke. Some insurers place an occasional smoker in this category, as someone who smokes cigars occasionally

Standard Smoking :. A smoker who is healthy otherwise standard will be placed in this category. Since some providers offer non-smoker rates, someone in this category is likely to pay more than a non-smoker for the same type of policy.

What happens when an applicant does not fall into a category?
Many candidates do not fall into these categories but are still eligible for coverage. Their health or lifestyle may prevent them from falling into a standard classification, but they can still be assessed according to their risk coverage. Insurers call this new classification system rating system table. Instead of privileged or standard, an applicant may be given a score table with a number or letter to indicate their rating. According to that note, the applicant pays an additional percentage if approved for a life insurance policy.

Understanding Table Notes
Table evaluations allow an insurer to assess also an applicant in accordance with their level of risk. The rating allows the insurer to provide coverage, but at a higher rate depending on the side of the table from that caller. For example, a candidate who has a rate of A table can generally expect to pay the regular rate of 25%. Someone with a table of G rate can expect to pay the regular rate of 175%. Usually the table rates are issued to applicants who have specific health conditions. If the condition is considered stable, the insurer will provide coverage and charge rate associated with trading on the table from that caller.

Determining your table Note
Your insurer will assign table dimensions to their conclusions. If you have had a heart attack within the last five years or have a condition like diabetes, you will have a table rating. Of course, these conditions must be considered stable. An insurer may refuse to provide life insurance anyway at their discretion. For example, if you have suffered a heart attack in the past month, you will likely be denied a policy until sufficient time has elapsed for your heart condition to be considered under control.

Table notes and life insurance
Table ratings carry a higher rate, of course, but they help insurers to assess risk. In addition, they also allow someone with a health condition to obtain life insurance that can be extremely important to the applicant and their families. If you are assigned a table rating, your insurer can discuss how that determination was made and why the rate is priced as it is. These table notes are mostly standard time in the industry. However, some life insurance providers are well known for providing coverage to people with existing health conditions and may have more optimal rates and different coverage criteria as other suppliers.

Obtaining Coverage
If you are denied for life insurance by a company, you can still qualify for the cover of another. The key is to work with a knowledgeable agent. Moreover, health is not the only determining factor. The notes of the table can be allocated for other reasons, such as a criminal record or a history of impaired driving. Again, investigate all of your options when seeking coverage; if a company can deny you another may be happy to provide you even if at a premium rate of increase.

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Giving Tuesday

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Giving Tuesday -

We all spent time in the last days "consume" ... turkey, pie, football games, irresistible items on Black Friday, awesome in online on Cyber ​​Monday.

now it's time to balance it all. No, I do not mean diet or stop shopping, I say give. Today is #GivingTuesday, a movement of a national day of giving which raises funds and awareness for important causes everywhere. Organizations, especially nonprofit organizations, participate in their own #GivingTuesday campaign to raise awareness and dollars to their cause.

Life Lessons Scholarship Program for non-profit, part of the LIFE Foundation participates in #GivingTuesday. Life Lessons scholarships help students experiencing financial difficulties due to a dying parent with little or no life insurance, get a college education.

You can help change a life by just $ 10 or $ 15 on #GivingTuesday to this important program. And what is more powerful than to help someone get an education so they can serve?

The following are testimonies of students who received a scholarship life lessons.


"life lessons The scholarship allowed me to pursue my passion and get a better education." -Zack Willard, whose father is dead, leaving no life insurance

Melina "life lessons The scholarship helped me to give 100% to my education again!" -Melina Ahmadpour, whose mother died, she and her sister without life insurance or financial support


Takashi "the Life Lessons scholarship supported me in difficult times, and I will always be grateful for their help!" -Takashi Yanagi, whose single mother died without life insurance

Make your tax deductible contribution here and join the "Celebration Generosity" by being a part of #GivingTuesday.

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I am a life insurance policy

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- I am a life insurance policyI received this from a page of permanent life insurance description entitled "Just a life insurance policy." The original author is unknown, but it appeared the style and wording have been written some time ago, but it is still relevant today. I wanted to share with you.


I am a piece of paper, a drop of ink and a few cents premium.I promise to pay.I help people of visions, dreams, and achieve economic immortality.I education for children.I am saving.I am the property that increases in value from year year.I lend money when you need it, no questions asked.I pay the mortgage, so that the family can stay together in their own homes.I assure you people dare to live and the moral right to die.I create money where none existed before.I am the great emancipator of need.I guarantee business continuity.I retain the investment.I am the employer tangible proof that man is a good husband and father, and a woman a good wife and mother.I'm a declaration of financial independence and economic freedom.I am the difference between an old man or woman and an elderly man or lady.I give money if the illness, injury, old age or death cuts off the breadwinner's income.I'm the only thing you can buy on the installment plan that your family does not have to end up paying for.I am protected by laws that prevent creditors to assess the money I give to your loved ones.I bring dignity, peace of mind and security for your family.I provide investment capital that drives the wheels and motors hum.I guarantee the financial ability to have a happy holiday and the laughter of children -... even if the parent is not thereI am the guardian angel homeI'm the life insurance

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The No. 1 reason people do not buy life insurance and why they are wrong

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The No. 1 reason people do not buy life insurance and why they are wrong -
"It's too expensive!" Is the common refrain when Americans are asked why they do not receive the life insurance protection they need. But, and it is a big but- 80% overestimate how much it costs .
For the fifth year, life happens in partnership with LIMRA study to produce the insurance barometer, which looks at consumer trends and "consumer perceptions of the life insurance, retirement and financial well-being.
"We have always seen over the past five years as consumers think life insurance is more expensive than it really is," says Marvin Feldman, CLU, CHFC, RFC, president and CEO of life happens. "We need to help educate the public about how affordable life insurance can be."
Other findings:
view the complete 2015 Insurance Barometer Study, go to

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Keep your small business enterprise with a disability

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Keep your small business enterprise with a disability -

If you own a business, you know how it feels to live for this company. You rely on it also for you and your family in charge. So what would happen if you suddenly become ill or injured and could not work? You must think about the what-ifs.

The fact is, your relatives may not have the skills or desire to run the business, and your co-owners may not welcome the idea of ​​an involuntary partner. Also, imagine the scenario where there is one of your co-owners who becomes permanently disabled and you, Aore face these choices.

That, AOS where a buy-sell disability plane comes in to play. This is an agreement between the owners buying a co-owner share, AOS of the company in case of permanent disability. Here are four options for the financing of this agreement:

1. Method of cash. The company or its owners could accumulate enough cash to buy the interests of the business owner to a disability, OSA. Unfortunately, it could take many years to save the necessary funds, while the total amount may be necessary in a few months or years.

2. Payments on current compensation method. The purchase price may be paid in installments after owner disability, OSA. For the remaining assets owners, it could mean a drain on business income for years. In addition, payments to disabled owner would depend on the future performance of the company after the owner, AOS disability.

Only disability insurance buy-out can guarantee that the money will be available exactly when needed

3. Method loan. Assuming that the company could get a business loan after owner disability, AOS, via the purchase price requires that the future business income be used to repay the loan and interest

. 4. Method insured. Only the disability buy-out insurance can ensure that the money necessary to make the sale, either a lump sum or installment purchase, will be available exactly when needed, assuming that the company has been assessed precisely.

for many companies, the best solution to the problems arising from the permanent disability of an owner is using the product of the buy-out disability insurance to buy from owner, AOS disabled of the company to its fair market value.

You can learn more about the protection of all aspects of your business with these helpful tips.

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Customize your life insurance with Riders

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Customize your life insurance with Riders -
A rider is basically a provision that you can add to a life insurance policy that helps you customize to make it better match your needs. The rider provides additional advantages that the basic policy does not work. Some you have to pay, some are included free of charge
We will cover the riders who are usually included in the term life insurance policies at no additional charge :.
accelerated death benefit rider: life insurance is intended to provide a sum of money to your loved ones in case of death. But what happens if you become terminally ill and it is you who needs money for medical expenses, or other expenses, especially if you can not work? This rider, which is usually included in the long-term life policies, you can access a portion of your death benefit if you become terminally ill. For example, if a doctor determines that you have less than 12 months to live, you might be able to access up to 75% of the death benefit, up to a certain maximum. But keep in mind that each company guidelines are a little different
Forward Conversion option :. With this driver, you have the right to convert your term policy to a permanent life insurance policy in a specific time period. Each life insurance company has different rules about when you are eligible to convert, but with a long-term conversion option is advantageous because you can convert the term policy without a medical examination and your rate is determined depending on the health dimension you when you purchased the long-term life policy. This means that if you have a long term policy and your health deteriorates, you can convert the policy so it does not end and leaves you with limited options for new coverage.
There are other riders that you can add to customize your policy, but come at a cost of more. These include:
racer children insurance benefits: This allows you to add a life insurance for your child. Typically children between 15 days and 18 are eligible to be added to your policy, and coverage on your child expire between 21-25 years depending on the life insurance company you choose. The pilot usually makes everywhere between $ 1,000 to about $ 25,000 per child coverage. Although no parent wants to go through loss and bury a child, coverage is inexpensive. So if you have young children and not much money to cover these costs, this endorsement can help with final expenses, in case of unforeseen
Accidental death benefit rider :. When you buy a traditional life insurance policy, the death benefit covers you for "any cause." This means that if you die of natural causes, illness, accident or injury, you are covered and your beneficiaries are eligible to receive a death benefit. an accidental death benefit rider allows you to increase the death benefit of your policy if you die as a result of an accident or injury ( in general, you must die within 0 days of the accident or injury to qualify). you can usually double your coverage for accidents with this jumper until an additional $ 250,000- $ 500,000 depending life assurance company
premium waiver rider :. this protect you if you have been disabled. If you have this rider, the life insurance company would continue to pay your policy premiums for you as long as you are disabled. This is a runner you need to qualify, which depend on your health and occupation. My recommendation is that if you buy a policy that is cheap and you know you'll be able to pay the premium in any circumstance, you do not have to pay extra for that runner. However, if you buy a larger policy that has a premium that you will be able to pay if you earn the income you're used to, you might want to consider this option.
Return of premium driver: rider most "expensive" term life insurance is the return of premium driver. With this endorsement, if you survive the term of your contract, you get all the premiums you paid. For example, if you buy a long-term life insurance policy for 20 years and you live beyond 20 years, you will get all the premiums paid. While this sounds great, with the rider greatly increases the cost of your long-term policy, and if you are a savvy investor, you might be able to get a better return on your investment by yourself.
Let's take a look at an example. If 40 buys a long-term policy for 20 years $ 250,000 with the return of the premium, the policy would cost $ 884 per year. At the end of 20 years you back $ 17.680. Without the return of premium rider, the same policy would cost $ 300 per year, which means you pay an additional amount of $ 584 per year for that runner. If you invested $ 584 every year to 4% per year rate over 20 years, you net $ 17.30, about the same as the return of premium on the life insurance policy. Any return of over 4% and you would eventually get a better return investing money on your own, rather than buying the rider. The key is that if you find that you are not disciplined enough or knowledgeable enough to invest money on your own, this amendment could be beneficial, otherwise I recommend you save money on your own that you could probably get a better return on your own.
what do they cost?
now we will discuss what cost these riders. We will use our 40-year-old male a request for $ 250,000 police term life insurance 20 years (at preferential rates as well as non-smoking). Keep in mind, these figures are a guide. The annual cost of the main long-term policy would be about $ 0 per year. A rider would cost $ 10,000 child an additional $ 50 per year. A waiver of premium driver would cost less than $ 30 per year. An accidental death benefit rider would cost about $ 150- $ 250 per year, according to the life insurance company you choose.

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Protect a growing family

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- Protect a growing family Sam McNeely, a former football player, dominating everyone who came in contact with him. But its size belied a soft side he was quick with a joke and able to befriend someone with his casual ways. That's what made Amy fall in love with him.
Less than a year to get married, they discovered they were going to be parents. That's when they met the cousin and professional insurance Juli McNeely Sam, CFP, CLU, LUTCF. Amy understood from the beginning that the protection of their growing family with life insurance was paramount.While Sam had life insurance through work, Amy convinced him to buy an individual policy, which would give it sufficient coverage and would not disappear if he changed jobs. Amy got a blanket as well.
His reason was simple: "I did not want to leave with a child and struggle with work and find someone to take care of it"A few years later, Amy was walking them. daughter, Charli, to school when his phone rang. the call was the beginning of a life-changing morning that ended with Sam to the hospital with an aortic dissection. Shortly after his arrival, he would claim his life.
He was just 38.Amy has few memories of the days and weeks that followed. Meanwhile, it relied heavily on Juli, who invested the proceeds of the life insurance Sam to ensure that Amy would have a steady stream of income for years to come. It has allowed Amy to be there for Charli, instead of having to work full time and find people to take care of hisHis advice to other parents is simple :. "people think life insurance is super cheap, but it is not. For the amount of coverage that we had, it was quite cheap and it was worth it. It's made my sisters and friends reconsider their needs. People my age do not think they will die, but it happens. " If you have not already, click on the video above to watch the story of McNeely. And to understand more about life insurance and see if some thing you need, start here.

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Using My tests as Stepping Stones

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Using My tests as Stepping Stones -

Most of my childhood consisted of hospital rooms waiting, bad cafeteria food and the names of doctors, I could not not pronounce. I became involved in the disease inevitably my father at age 9, I gave shots and dosed medicine. Not the definition of "daddy's little girl" has other expected, but that was my childhood.

My father's illness took his life when I was 11, leaving behind his wife and five children. Soon after, we woke up to the bitter realization of our financial situation deteriorates. the burden that was placed on the shoulders of my mother is one that no one should have to carry it. If my father had had life insurance, it would have removed the constant financial worries.

now I am the only child in my family to have graduated from high school. and although the financial struggle to go to university to continue, and I will use my trials as stepping stones and my education will be the basis on which I build my life.

I wish I could say more, but I can not form an sentence that expresses how my family would have benefited from life insurance. Although setbacks hit me when I'm down, I found that the real failure is when I stop trying. I refused to give up then, and I refuse to give up now

Editor's Note :. Kira Olsen received Life Lessons scholarship life happens to help students experiencing financial difficulties to get an education because of a dying parent with little or no life insurance. To start planning your own, start

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Gen X, Gen Y Gen D ...?

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Gen X, Gen Y Gen D ...? -
Have you heard of Generation D? I do not think so. But according to a recent Accenture consulting firm report, Generation D is a segment of emerging and important market investors.
Cyril Tuohy InsuranceNewsNet recently released some details of the D generation, saying that as the financial crisis of 08 and the rise of social media as a way to access investment advice resulted in another type of investor who is skeptical of financial advisors.
So who's Generation D? Generation D is not defined by traditional generational divisions, but by their behavior. They are 75 million strong that represents a cross section of the so-called Millennium (26%), Generation X (48%) and baby boomers (25%).
The members of Generation D are less likely to consider the advisers as a trusted resource for investment advice than previous generations, the Accenture survey found. For example, a total of 59% of Gen D members actively sought advice recently, but only 40% have sought their financial advisor for advice.
Generation D represents 44% of the US population with nearly $ 27 trillion in assets will be transferred to the heirs in the coming decades, but they are skeptical market. Accenture was surprised how conservative Millennials are and how they equate investment in the market for the game.
Millennium skeptics
D skepticism generation against financial institutions is most common in children of the millennium, with this group of 21 to 30 years seeking information on several channels to confirm or corroborate investment advice.
While 71% of production D millennium are currently investing only 22% do so by an adviser, the survey found, and as much as 28% of Millennials would take not advice from a financial advisor without first consulting another source.
Generation X, meanwhile, are more likely to be self-directed investors because they are using a dedicated advisor, while baby boomers still enjoy a personal relationship with their advisors, the investigation has revealed.
Although the LIFE Foundation does not cover pure financial products, we do not consider ourselves experts in the field of life insurance and related products. Our goal is to make these products easier to understand through digital resources, social media, videos and motivational blogs.
According to Accenture, the members of Generation D are often more conservative and risk aversion that many advisors give them credit, and they will expect digital, online and mobile channels to be "perfectly woven into the overall customer experience, "said the report.
LIFE Foundation has anticipated these needs and provides the financial community a wealth of digital resources for consumers and for agents and advisers to use with these skeptical investors in the new digital world.

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Here's why you need critical illness insurance (but maybe your parents or grandparents did not)

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Here's why you need critical illness insurance (but maybe your parents or grandparents did not) -

One thing that makes critical illness insurance is unique because it was not created by an insurance company, but by a heart surgeon world-renowned Dr. Marius Barnard. It was part of the team, led by his brother, Christian Barnard, who performed the first human heart transplant with the success.

Dr. Barnard has practiced medicine in South Africa, and saw that, with the changes taking place in medicine, when a serious illness struck, he was able to cure his patient physically but the financial stress that accompanies cancer, heart attack and stroke was killing his patients.

Dr. Barnard saw that the financial strain that accompanies cancer, heart attack and stroke was killing his patients.

His thought was that protection against serious diseases could function similarly to a life insurance policy and pay a lump sum upon diagnosis of serious illness. Critical illness insurance was introduced in South Africa in 1983, and is now sold in over 60 countries worldwide.

You're probably wondering, "Why now Medicare criticism? Why have I not heard more about it before? "The reason is that with great doctors and incredible advances in medicine and medical technology, today people survive cancer, heart attacks, strokes, etc., which killed us there is generation.

for example, a good friend of mine, Keith, has a client who is 38 years old. The customer Keith was running on a treadmill in a gym when he suffered a heart attack. Twelve people called 911. the woman on the treadmill next to him walked over, grabbed the defibrillator from the wall, and applied.

Think about it. If it customer had a heart attack 15 years ago, the number of gyms would have defibrillators? How many other people in the gym would have had cell phones to dial 911 for paramedics he immediately?

same question, different answer

the question is, what is the insurance product for cancer, heart attack or stroke? When I started in the insurance industry 35 years ago, the answer to this question was life insurance. At that time, very few people have survived a serious illness.

This reminds me of the story of Albert Einstein. His teaching assistant came into his office, panicked. The assistant said, "Professor Einstein, questions about the exam this year are the same as last year!"

Einstein replied: "No problem, because the answers are different"

Consumers still want to know what the right insurance product to protect against serious diseases such. as cancer, heart attack and stroke. the question is the same, but the response has changed. a person still need life insurance, but he or she also needs critical illness insurance

to quote Dr. Barnard :. "you need protection against serious diseases, not because you are going to die, but because you will survive."

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Do you pay the kiddie tax?

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Do you pay the kiddie tax? -

The kiddie tax is a tax rule is levied on capital income (interest, dividends and capital gains) earned by children under 19 and students full time under 24. in 2016, the total income of the child's assets beyond $ 2,100 is taxed at the tax rate of the parent company.

in 2016, the only way that students under 24 years old will be able to avoid the kiddie tax is if they provide more than half of their own support their own earned income (ie . to wages and salaries, not the income from the sale of stocks) in this case, the child's unearned income would be based on the child's tax rates, not rates relatives under tax rules for children.

So, is there a way to avoid paying this tax? Yes, there are several ways, including using 529 plans and life insurance. Life insurance you say? Yes, and it works well.

Permanent life insurance allows you to store funds in the cash value of the policy, which accumulate tax deferred until they are withdrawn or borrowed to politics. The rate of return over 15 to 20 years may be better than others safe money market equivalents such as CDs and money markets and there is no taxation in progress.

Want to know more? Contact your agent or financial advisor for details.

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6 reasons for life insurance to your retirement

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6 reasons for life insurance to your retirement -

First, the basics. If you still need someone or love someone, yes, you need life insurance.

Now let, AOS dig a little deeper and look at other reasons why you may still need life insurance after 65

1. You always AORE the, ÄúBank of You. at 63% of parents over 55 are still supporting their children and grandchildren, according to LIMRA Secure retirement Institute. What happens if you are not there to provide that support? Who will be your children turn to for financial assistance? Friends or other family members? Life insurance can provide the funds to maintain this support.

2. You have a child with special needs. If so, you may need to make arrangements for continuity of care after you leave. This can be done by funding a trust with special needs with life insurance to provide the necessary resources to provide the level of care required for the child.

3. You, Aore, Äúretired at but still working. What if you, Aore still earn money that you rely on? You, AOD need to replace income, and the only way to do that is with people at work. If you don, AOT assets, life insurance can create these assets upon your death. How much will you need? Use our life insurance needs calculator to find out.

4. You have a pension dies with you. If you have a pension with no option for survival, How to replace that income stream for your spouse? Again, life insurance can replace lost pension income by creating assets that can be converted into an income stream.

5. You have a debt payment. According to LIMRA, the 65-74 age pensioners who still have debt installment education debt from an average of $ 2,300, while 64% of their debt consists of vehicle loans. Many retirees still have mortgage debt. Life insurance can ensure that these debts are paid death debtor, OSA.

6. You, AOD leave a legacy. Life insurance is a very effective tool to use for estate planning and equalization of assets being left to heirs and charitable planning. A small premium for life insurance can create money to death to achieve these goals.

These are just some of the reasons why life insurance may be required after your retirement. Talk with your agent or advisor for more information.

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Looking for a guaranteed stream of income?

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Looking for a guaranteed stream of income? -
If you are concerned about outliving your savings, perhaps an income annuity will suit your needs. An annuity can provide a guaranteed lifetime income you can not outlive.
Fixed income annuities are offered with a number of payment options, allowing you to structure payments according to your financial goals. Consider these four revenue streams:

Common Life: 
This option provides income for two, as long as either the client is alive. When a customer places, payments continue surviving

Period sure : 
This allows the customer to target how long they need an income stream. If the client dies before the end of the period, the remaining payments continue to the designated beneficiary.

Life with a period 
In this scenario, the promoter will pay cash income for the life of a client. If the customer had to pass away before the end of the chosen period, the beneficiary receives the remaining payments

Life only :
This is the least commonly selected payment. When you die, the payments stop, no matter what. This can be risky, but the upside is that option offers the highest gains.
My mother-in-law, now deceased, used the common life immediate annuity to generate an income for life of the proceeds from the sale of his house. Now my wife receives an income stream for the rest of his life from that same annuity policy.
A guaranteed income for life, one that you can not survive, provides peace of mind. If this part of your financial plan? Ask your agent or advisor to see if it meets your needs.

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Of Course You do not need life insurance!

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Of Course You do not need life insurance! -

Most of us take more time planning our vacations than our financial futures. That's why we decided that a brief discussion with a financial advisor top could do us all good. We spoke with Sarah Kaelberer, CFP, CHFC, a partner and president of Business & Estate Advisers Inc. in the Minneapolis area. It leads us through some misconceptions about life insurance and made a "succession".

What are the mistakes you see people make in life insurance?
So people have many misconceptions about life insurance. I hear, especially those who are just married or had their first child, is "I do not need life insurance." And I always answer: "Of course you do not. You are the one who will be dead. Your family needs "It is not what you need. It is this need for your family if you're not here.

Mathematically I can show most people they not need life insurance, especially those who are younger and who can not have them yet ensure it is important to ask yourself questions like:. can your family stay in your home, if you were not there the education of your children could it be funded and so on

this is not what you need;?. there is this need for your family if you're not here

another misconception with life insurance is that you never paid, but in this world there is one thing that is 100% certain that we :. going to die. If you buy a life insurance policy that will be there as long as you, your loved ones will definitely be paid.

How about those who just are t convinced insurance necessary?
I would say to them, Just look around someone that you know it was sick or died who has no insurance and compare this with someone who has . You will see how it's easier for a family to deal with these problems when there is insurance.

Our current " Insurance Barometer Study " shows that people 8-10 overestimate the true cost of life insurance. You see in your business?
I think it's especially true in people 20 and 30 years. When you talk to them to get $ 1 million or $ 5 million in coverage, they think these are big numbers. But what they do not understand is that only about $ 400 or $ 1,500 annually for the premium.

I also think they need to know that insurance can be "sliced ​​and diced" and as affordable as anyone needs to be. This is an agent or advisor is here to help.

You also do estate planning. So, what do most people go wrong?
they do not think they have a succession if they do not think there will be taxes to pay when they die or if they do not have much money. It's always fun to explain that all a succession . it may be small, but it is still an area! Without proper documents and good planning, it could still be just as messy as a large estate when you die.

what the documents from which they should have?
a will, a health care directive and durable power of attorney. These documents are really important. As we move through our plans with clients, these estate planning documents are always a component.

All you want to add?
If your advisor does not put the life insurance conversations, make sure you do. No one likes talking about death or dying, but you want to make sure your loved ones are taken care of if something happens to you.

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Boomer Esiason plays for "Life Insurance Team"

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Boomer Esiason plays for "Life Insurance Team" -
May know as Boomer Esiason NFL record quarter, or from his commentary on the target as an analyst for The NFL Today on CBS , or perhaps as a co-host of Boomer and cardboard on WFAN . But in September, it will also play for "Team Life Insurance" as the spokesman of the Life Insurance Awareness Month.And there's a good reason Boomer is so life insurance "pro"."most people do not know that I lost my mother to cancer when I was just 7. I was handed a life lesson difficult at a very early age. I thought it would be good for other families to learn from what I experienced, "says Boomer.
After the death of his mother, Boomer, his father and his two teenage sisters were left to create a life for themselves. His father, Norman, worked very hard, but the three-hour daily commute to work in New York left him little free time. "That meant neighbors and relatives helped with things that my mother would have supported", he said. "If there had been life insurance, we could hire the help of my father needed to keep the house running as my mother. " up protection with determination, hard work and the support of his father Boomer was able to leverage its football talent to win a full scholarship to the University of Maryland. He went on to become one of the most successful quarter in the history of the NFL during his career of 14 years.early on, Boomer has protected their families with life insurance. and as his career as a radio and television presenter has increased its insurance coverage -life as cultivated as well. "I have a beautiful family that I love my wife, Cheryl, daughter, Sydney, and his son, Gunnar, I protected with life insurance.
It is my responsibility to ensure that if something happens to me, my family will be taken care of financially, "he said. In addition, Gunnar fights cystic fibrosis and will need financial support throughout of his life. (You can learn more about the Foundation Boomer Esiason fight against cystic fibrosis here.)"life happens at the most unexpected times, and life insurance is to protect the future and the people you love, "Boomer said." Remember, if something happens and you have not done the planning, the people you leave behind will feel the weight of your mistakes. "during life insurance awareness Month in September, Boomer goes to talk to the American public about its history via television and radio public service announcements to get them to think about the need protect their families with life insurance. for more information about life insurance and where it fits into your financial plan, start here.

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Basics of Estate Planning (Even if you think you have a "succession")

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Basics of Estate Planning (Even if you think you have a "succession") -
Death is inevitable and no matter how you feel about it, it will the family left behind who will manage "your estate." Now, the word can evoke succession Downton Abbey images or capital of an oil baron, but if you leave anything behind, which is your "estate".
3 gen family
The key is to ensure that those who depend on you financially are not left with more pain and difficulties necessary. With that estate planning checklist, you will learn how to prepare your family does not need.
1. Decide who the beneficiaries will be. If you died today, who would be your recipients that you leave behind? If you recently got married or divorced, you must make changes to your bank accounts, will, the life insurance policy, 401Ks, IRAs, corporate benefits programs, and any other account that the list of 'a recipient. This ensures that your financial burden, current spouse, close relative or want you to be your beneficiary is properly listed.
2. Decide on a succession plan. Having an estate plan can help your family avoid the hassle and unnecessary legal and financial costs, while ensuring that your wishes are carried out as planned. Regarding a succession plan, here are some factors to think about:
  • Have you created a will? To be precise, which takes possession of your property / assets when you die. You do not have to hire a lawyer to create a will; You can do it yourself. There are professional sites online that can help you create a set.
  • Do you have a living will or power of attorney? An advanced directive or living will, the details of your wishes for end of life care. For example, if you are in a car accident resulting in a vegetative state requiring life support, a living will determines whether or not your designated representative may "pull the plug."
  • Who has power? a person who can make decisions for you if you are in a position where you are unable or unavailable to do so. This includes signing legal documents and process all your financial and legal affairs. This can be a real lawyer or a friend or family member that you have deemed appropriate.
  • Who will take care of your children? If you are a parent, you need to think about guardianship and decide who will care for your children if you and your spouse die.
  • do you have a revocable trust? also known as a living trust, the coordinates of a revocable trust who your heirs; However, unlike a will, it can not be challenged in court. While a living trust determines who will receive your assets upon your death, until then, the owner retains full control of the asset.
  • Or if you have an irrevocable trust? irrevocable trusts their own legal entities. If you need to remove individual assets from your estate for tax purposes, you can put them in an irrevocable trust, which in essence becomes the owner of these assets.
Because life is in a constant state of flux, succession plans should be reviewed every five to seven years. If you do not already have one, you may experience a professional estate planning for a free consultation.
3. purchasing life insurance.
You absolutely need life insurance when someone depends on you financially. With the proceeds of a life insurance policy, your spouse and / or children can continue to meet their daily expenses and plan for the future, like college or retirement. Term life insurance is an inexpensive safety net. Here are some questions you should ask yourself before purchasing a policy:
  • How many and what type of insurance do I need
  • How long of a term is necessary ? Should it be permanent?
  • Can I keep my life insurance through my employer if I lose my job, resignation or retirement?
  • How much can I afford to pay and how can I get affordable rates?
additionally, you'll want to consider disability insurance if you get sick or injured and unable to work.
4. You and finances organized.
Create a spreadsheet of all your accounts, their number and location. Print a copy and keep it with your will, insurance policies and other financial documents. Keep a copy in a safe, office your lawyer and / or a safe home. If you need to update your information, review all the existing versions.
Whether you hire an attorney, financial advisor or care documents yourself, basic estate planning will ensure that your finances and distribution are handled properly.
Have you gone through the estate planning process writes a will, life insurance purchased or set up a trust? If so, what advice do you have for other families financially responsible?

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Four Perils of life and how life insurance can help

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Four Perils of life and how life insurance can help -
Although there are many roadblocks and detours in life, there are certainly dangers also.
Here are four that relate to your financial life and your need for life insurance
Peril 1: Dying too soon ..
We all know someone who died at a young age. There are tragic stories of people in the prime of their lives that pass, like the Good Samaritan Preston Newby, who was hit and killed while delivering aid, leaving behind a young wife and two son. You can watch his story here.
Although the statistical probability of death at an early age is low, the financial consequences of not plan this possibility can be high. The youngest of the family, the more protection you need in general. Often, there are still student debt and a mortgage, as well as spending daily life that must be taken into account. Younger children will require years of care and future educational needs. Life insurance financially protects the family you love
Peril 2: Living too long ..
In light of medical advances, we are living longer than ever. This means that the planning of a long retirement. In the past, planning for a 15-year retirement was common. Now it can be 20, 30 or even more. You can have a greater number of years in retirement than the actual number of years you have worked. This means that the need to save is critical. A permanent life insurance policy can provide a cash value that can be used to supplement your retirement income
Peril 3: Become invalid ..
The statistics tell us that in our years of work, it is more likely to become disabled than to die. That is why disability insurance is so important. It ensures that if you are unable to work due to illness or injury, you continue to receive income and make ends meet until you are able to return to work.
In addition, many life insurance contracts used to add a disability waiver to cover certain costs in case of total disability. We have already established that life insurance is an important asset, but if you become disabled, you may not be able to afford it. Permanent insurance of life with an exemption for disability premiums can help keep the policy in force and continue to provide the peace of mind you need
Peril 4: .. Needing long term care
You are also facing concerns about the cost of long term care. You may need changes to the house or to develop dementia and Alzheimer's disease. These costs are not covered by insurance or ordinary illness Medicare. nursing home stays or costs of home health care can have a detrimental effect on your wallet.
What if you were forced to access your retirement funds to pay for long term care needs? Do you always do what you need for the life of retirement? Instead, a permanent life insurance policy with a rider of long-term care can provide payments to help cover the costs of long term care.
Life insurance, particularly a permanent policy that provides flexibility to meet your changing financial needs, is an important financial consideration. An insurance agent or financial advisor can help walk you through your options and get the right policy for your needs.

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Completely, life insurance Totally Not Enough

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Completely, life insurance Totally Not Enough -
One day I will die.
How to inspirational statement of the year?
I'm not one of those people who sits around and stressed about the day that I die. Face it, it will happen. Preferably, not soon, because I still have a lot of In-N-Out Burger I want to eat. There is something about the dying thing you need to realize, though :. It will happen to you too
I hope his many years away from now, because I want you to enjoy some of the finer things in life.
Rose family

For me, with a wife and three sons, I have lots of adventures planned. I accomplished one of those adventures this summer when I took my whole family on an RV trip two weeks at the Grand Canyon.
As Griswolds, I would make it an annual tradition Rose. I have big plans for the roses, but if something should happen to me, I want to be sure they can still have fun. I want to ensure that they can still enjoy their lives, going to college, and living a full life. The only way I know to give them a chance to do is to buy life insurance.

Life insurance has become a priority
Buy life insurance was important when my wife and I got married, but has become exponentially more important with every child we had. That is why I now have a significant political about myself
Every time I meet a young family, it is one of the first things I want to ensure :. Have they thought about life insurance? Have they bought any? Have they bought enough? Do they know all their options?
Having life insurance is good, but having the right amount is even better. What is unacceptable? Do not be at all.

This was a conversation with a friend recently earlier this summer. While attending the wedding of another friend, we had the chance to start a conversation.
Basically we are friends because he married a college friend of my wife. Whenever we meet, we always have a good time, and we can talk about anything and everything.
At this wedding, he asked me how my book Soldier of Finance was doing, and I am happy to share the good news, but somewhere along the way we had to talk about life insurance.
Before passing quick judgments, I promise you I'm not the guy life insurance talking about life insurance at a wedding reception. I promise that I will bring this up, but anyway, he mentioned that he had $ 10,000 life insurance through work. Knowing he has a wife and two young children, I pressed a bit to ask if he had life insurance anywhere else.
He figured $ 10,000 would be enough to bury him ... That's right, but what about your home? What about your children's college? What your wife trying to take care of raising your young children?
When he said no, I'm sure I breathed a huge sigh. Before I passed any judgment, I wanted to know more about its rationale why he had only $ 10,000. He said he thought $ 10,000 would be enough to bury him so that her children would not have to worry about paying for a funeral.
This is right, but what about your home? What about your children's college? What your wife trying to take care of raising your young children? Do you not think that the loss of your income would impact on her and how she was going to raise your children? I tried to push a little bit, but not enough to make him feel stupid. Actually, I kind of thought it was, but I still love him.
When I gave him the points to think about, he replied: "Huh, I did not really think that way," I assured her that most people do not, and c '. is why I do what I do.
I explained how much life insurance I had on me, the reason for this and how much I paid. I told him that probably does not need as much as I did, but if he did, it's about what he should pay.
Even for a policy a third of that size would cost him nothing compared with the benefit of what he would do to him and his family if something happened to him. Frankly, with $ 10,000 life insurance when you have a wife three children, a mortgage and other debts is totally unacceptable.
I guess you're probably in a similar situation-no life insurance or not enough. It is life insurance Month awareness, so why not make the leap and know how much you really need that life insurance needs calculator online.

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The growing gap: Cover Vs. Need

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The growing gap: Cover Vs. Need -
New York Life recently published a report based on two investigations that I find most interesting. That's part of what he said:
Americans say they want enough life insurance to cover expenses for at least 14 years after the loss of a breadwinner, but in reality only have three years of protection in place. This finding is consistent with the study Barometer assurance that life happens and LIMRA conducted in recent years.
Before the Great Recession took strong in 08, Americans reported a median gap between their life insurance coverage and self-described financial requirements of $ 289,378. New York Life noted that today, Americans reported a $ 320,000 "gap". This represents a shortfall of 59% between the financial goals of the Americans and the money they have available from their life insurance policies in case of death of the breadwinner.
girl with missing teeth
The gap has increased 11% since 08, putting Americans in greater danger of missing widespread objectives such as the repayment of a mortgage loan, financing college education of four years or to finance a secure retirement because they lack adequate protection of life insurance.
The Life Insurance Gap survey examined the financial planning attitudes and behaviors of 1,000 Americans 25 and older dependents. It focused on how much coverage life insurance they had in place and what they want their life insurance policies to cover in case of death of the breadwinner, causing a gap self- declared.
To determine how much life insurance may be appropriate for you, and if you have a space to fill, use this easy online life insurance calculator needs.

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A love letter About Life Insurance

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A love letter About Life Insurance -
I recently came across a yellowing sheet of paper with a typed letter; it was a copy of a note I had sent to my son. Date on the letter was November 21, 1989, my son was four months at the time. As I read it again after so many years, I realized something. While I was telling him about the life insurance policy that we had bought for him, he was in fact a love letterLove Letter, you say? What life insurance has to do with love? Well, okay, it is. The key is that you buy life insurance because you love people and want to protect them financially.I may be biased because I work in the industry, but take a look at the letter to my son, and see if you do not agree: Dear JP: Today is November 21, 1989, and maybe you're wondering what the day has to do with writing you this letter. While you're only four months now, I hope this is a date you'll remember, because today we bought for you a life insurance policy. It is one we like and it will be for your use for the rest of your life. JP, the difference between financial success and failure is often determined by whether or not a person can discipline themselves in a consistent and conservative financial strategy . Life insurance is ideal in this respect because it has stood the test of time both for family security and savings; it is the largest savings plan in the world because it works! It may be that you will have to use the cash value of the policy several times during your lifetime and at that time, we hope you will remember that we started this to your advantage. this policy carries with it two features of particular importance. The first is an automatic purchase option, which will allow us to increase your coverage as you reach a certain age. The other feature is the one that was very significant for me in my financial life and it is called disability waiver of premium. This means that if you should ever become disabled, your financial plan will auto-complete for you and your family. This policy is a special gift of love and affection both your mother and me; and we suspect that it will be remembered long after all the other gifts are forgotten May the blessings of God be with you always. Love always, mom and dad

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Are your tax bills rising? Life insurance can be the answer

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Are your tax bills rising? Life insurance can be the answer -
Do you have mutual funds? Many of us, so this is certainly a heads-up. Tax bills Mutual fund investors have been on recently resurrectedThe average distribution of capital gains (profits from a payment to shareholders on the sale of securities of a funds) for US equity funds (according to the data from April 2014) is 19.3% of assets, against 6.9% in 07.
These recent distributions are among the most watched since the beginning of the crisis fiscal funds are required to distribute capital gains annually. Any gains are recorded as deferred realized losses and losses of the previous year are subtracted to arrive at the total amount payable.
Distributions are made in equal proportions to all shareholders regardless of the time they bought the fund. Then all holders that own the fund in a taxable account must pay taxes on these distributions, even if they reinvest their distribution.This is a way to eliminate these pesky capital gains. Buy a life insurance cash value. Gains on life insurance cash value is tax-deferred until you take the money, and if you take it as a source of income, the tax can be minimized or even eliminated. Many companies call this type of plan a retirement plan for additional life insurance. It takes careful planning, but your agent or advisor can create and adapt it for you.

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5 Reasons to keep your life insurance as you head towards retirement

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5 Reasons to keep your life insurance as you head towards retirement -
As baby boomers continue to make their way to retirement, many may feel they can eliminating the extra expense life insurance. After all, in many cases children are grown and some of the most important expenses like college may be behind them.
But it doesn, AOT necessarily mean you have to get rid of your life insurance coverage quite so fast. In fact, in many ways that people approach their golden years, they have even more reason to hang on to, or even add to their life insurance protection.
mature couple

Here are 5 reasons why:
1. Cover final expenses: Although it may seem obvious, many people don, AOT realize how expensive it can be to die ! And while nobody really wants to talk, today, Äîafter factoring in the cost of a casket, headstone, burial place, flowers, transport and real service average cost of a funeral Itself, can run Äîthe in the neighborhood of $ 10,000 or more. This can be a heavy expense to leave to your spouse or other relatives. But, by covering it with life insurance, you won, AOT be leaving them with financial difficulties being.
2. Supplementing or replacing income: If you, Aore married, it, AOS possible that the retirement income benefits you receive and your spouse may end or be greatly reduced when one of you dies. This is true with many types retirement defined benefit plans. If this happens, the survivor may be forced to change their lifestyle a lot, including moving to a different house, and give up various activities.
Having a life insurance policy in place, however, could solve this problem. When you or your spouse, AOS death, the policy, AOS products could be converted into an income stream that could supplement or replace That, AOS lost revenue. By planning ahead, you or your spouse can continue living your current lifestyle.
3. Pay property taxes: Believe it or not, when you die, you may need money to Uncle Sam, and if you have the gift, AOT money appropriated potential debt, your family may be forced to sell assets or family heirlooms, often below the market price, just to come up with the money.
a life insurance policy can provide a way to pay what, AOS due on the inheritance for pennies on the dollar. And, placing the policy in an irrevocable trust, you can preserve the value of the policy in your own name, and in turn, the value of your overall estate, which significantly reduces the amount you need.
4. Equalize an inheritance. Life insurance can also be used to match a legacy to your heirs. When planning the distribution of your estate, you may realize that additional funds are needed. For example, if a business owner has three children, and two will be inheriting from the company, but the third has no interest in the company, life insurance can be used to provide for the third child of an amount equal to the other shares children, AOS now.
5. Support a charity. As people move through life, they can also feel the desire to leave money to a charity or similar organization. Life insurance can provide an ideal mechanism to do so, and a number of tax benefits related to both the donor and the charity. These can include a tax deduction for the donor on premium payments and the receipt of the goods tax free organization.
The Bottom Line
Whatever your age, if you care about someone or something, then it, AOS very possible that the insurance life may be required as part of your overall financial plan. Not everyone needs life insurance, and I suggest reviewing your current financial situation and goals will help you determine if you should consider life insurance for you and your family.

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3 ways to help a charity with a gift of life insurance

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3 ways to help a charity with a gift of life insurance -
We are a charitable nation. Over 95% of American households give an average of just under $ 3,000 per year to charity. This means you probably do, too. But did you know that there are other ways to give to charities by simply writing a check?
donate heart

Regardless of your reasons to give a gift of life insurance can be a substantial future gift to a favorite charity relatively little cost to you. There are several ways you can accomplish that
1. a recipient charity of an existing policy: If you have a life insurance policy, you need more support your partner or family, you can name a charity as the beneficiary of the policy, which means that the charity will receive the death benefit from the policy when you die. Although there is no current tax benefits to this approach, the value of the policy will be removed from your estate for federal estate tax.
2. a charity the owner and beneficiary of an existing policy: Instead of just naming the charity as beneficiary of an existing life insurance policy, you transfer full ownership of the agency policy. The charity will receive the death benefit from the policy when you die. In addition to eliminating the value of the policy of your estate for purposes of federal estate tax, this approach also provides current federal tax deductions.
3. Help a charity purchasing a new life insurance policy on your life: If you want to make a substantial future gift to a charity at a relatively low cost to you, another alternative is to consider purchasing a new life insurance policy and name the charity as the policy owner and beneficiary. You then have to pay the premiums, donations to the charity. This approach provides tax deductions for federal income and the proceeds of the policy are not included in your estate for federal estate tax
Important note :. Most states through their laws "insurable interest" to allow a charity to be the owner and / or beneficiary of an insurance policy on the life of a donor. Since state laws do vary, however, it is important to seek professional advice before making a life insurance donation to a charity.

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How Life Insurance Do You Really Need?

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How Life Insurance Do You Really Need? -

Some people equate life insurance with tragedy and death. Truly, life insurance is for life. Without it, the sudden disappearance of a key breadwinner could leave a family stranded without the resources to maintain their lifestyle or even keep their homes.

There are not that long, professionals have recommended that families carry a life insurance policy with a death benefit of 10 times their annual household income. Today, however, in light of the rise in property prices in many parts of the country, escalating college costs and low interest rates most counselors now recommend up to 20 times your family income.

Unfortunately, most American families are underinsured. The gap between what households have and what they need is almost $ 320,000, according to the study by LIMRA Bridging the gap life insurance, 2015.

If you want an idea working how much life insurance you may need (or how much you may need), you can use our fast life insurance needs calculator.

A cornerstone of your financial plan
Life insurance is a cornerstone of your financial plan, for these reasons.

1. It provides a replacement income. For most people, their most valuable economic asset is their ability to earn a living. If you have dependents, then you must consider what would happen if they could not rely on your income. A life insurance policy can also help supplement retirement income, which can be especially useful if the benefits of your surviving spouse or domestic partner will be reduced after your death.

2. It covers long-term debts and obligations. Without life insurance, your family must bear the funeral expenses, credit card debts and medical expenses not covered by health insurance using money out of pocket. the death benefit of the policy could also be used to pay off a mortgage, supplement retirement savings, or a tuition fund college.

3. It can be used for estate planning. The proceeds of a life insurance policy can be assigned to pay estate taxes so that your heirs will not have to liquidate other assets to do so.

4. You can use it to support a charity of your choice. If you have a favorite charity, you can designate a portion or all of the proceeds of your life insurance to go to this organization.

Remember an agent or advisor can help you determine your life insurance needs and find something that works within your budget. If you do not have it, you can consult our agent locator.

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Protect your children now and for the future

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Protect your children now and for the future -
When your children are infants, buying baby monitors, car seats and outlet covers, trying your best to a head all real dangers (and imaginary) threatening your little bundles of joy.
Then, as they grow up, your focus expands to include schools, social activities and other factors that influence, as you do your best to keep them safe. Your whole goal as a parent is to ensure that your children navigate the space between birth and adulthood as well protected as possible
But an item could be out of your "must have" list :. life insurance. While parents usually buy life insurance for themselves for the first time, or increase the amount of existing policies when they add new members to their family, they may neglect ensure these new additions with a policy of their own.
It is true that a function of life insurance is to protect those who remain, such as spouses or dependents, a situation that is not appropriate when talking of minor children. But there are other reasons why it makes sense to ensure your children. The first comes to dollars and cents: it is much less expensive, comparatively speaking, to ensure a child than an adult.
The second reason has to do with the unfortunate events that could affect the long-term health of a child. While we hope and pray that children will stay healthy, events can transpire over which we have no control. A serious illness, a chronic condition newly developed or even a catastrophic accident with permanent injuries may result in children being considered uninsurable for life. A permanent policy, especially with a purchase option of guaranteed policy for additional insurance in the future, ensures the protection of life, regardless of the child's health status can change.
It is true that you might be able to provide your child through a group policy available through your workplace, keep in mind that changes in benefits social employee may remove this option. Overall, only 19 percent of children have an individual life insurance, with only 14 percent covered by group life policies, according to LIMRA, and both figures have shown a significant decline.
Buying life insurance for your children is just one more way you can show your love and concern for them and ensure that they are protected against the consequences of unexpected events of life.

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