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An important reason to review your life insurance beneficiaries

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An important reason to review your life insurance beneficiaries -

Did you know that it may be possible for your money and assets to be bound in the approval by the court a year are not uncommon, if you were to die?

This is why it is important to consider the beneficiaries of your life insurance policies and ensure that they will be paid to a designated beneficiary (a person) and not the estate. This will prevent the money from being part of the probatable succession.

This is why it is important.

The approval is simply the Latin word for proof, which means that the approval process of succession is the process by which your will is brought before a court to prove that he is a will valid. The courts responsible for this responsibility are generally known as probate courts, which can effectively oversee the administration or settlement of your estate

The approval process is governed by the laws of the State aim to achieve three main objectives:

  1. to preserve the property assets
  2. to protect the rights of creditors in the payment of their debts before the estate is distributed to heirs
  3. to ensure that the heirs receive their inheritance in accordance with the terms of the will of the owner succession

once the personal representative of the estate (executor or administrator if the owner of the estate died without naming a personal representative) is approved by the probate court and positions of the link is required, the approval process generally takes place as follows:

  • personal representative must "prove" the will to prove he is valid will be signed by the property owner who was competent and not under duress or influence when signing
  • the notice must be given by staff representing all creditors to make a quick claim for money belonging to them by the estate
  • personal representative shall prepare and file an inventory and evaluation of real estate assets
  • personal representative must manage and liquidate real estate, if necessary to pay all debts and taxes owed by the estate
  • Finally, the remaining estate is to be distributed to heirs according to the will owner of the estate (or the state laws of intestacy if there is no will)
  • it is not uncommon for the probate process to require a year or more and considerable expense before the estate is finally settled, good planning can be used to minimize the impact of the registration process of your estate and heirs.

ensuring that your life insurance benefits are paid to a designated beneficiary and not the estate, you will prevent the product from death to be part of the succession probatable , saving time and expense in the distribution of products to your beneficiaries.

As you can see, this is a complex issue that is best worked on with your financial, insurance and legal advisors.

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20 reasons why you might need life insurance after 60

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20 reasons why you might need life insurance after 60 -
Well, let, AOS think about it. You, AOVE got most of what you, Äôll ever win in the last 40 years. You must have accumulated sufficient assets to retire and live happily ever after. The opportunity and the possibility to add to this are limited by both your age and your health. But recent years have been a revelation on questionably your financial future can be.
Most people think of life insurance only when they want to protect their families and provide an alternative source of income in the event of their death. They don, AOT think as a buffer to replace property lost due to market volatility, for example, Äîfor, market crashes and you die before you have time to rebuild or replace lost assets.
Yes, I know. Your children have grown and gone. The mortgage is paid. You have minimal debt. So why someone 60 or older consider buying permanent life insurance
Reasons for life insurance after 60 years:.
  1. retirement income loss spouse Offset death (max Pension)
  2. The costs associated with death Pay
  3. pay final expenses
  4. pay inheritance tax
  5. pay off debts
  6. income paid in respect of a decedent taxes on IRA, 401 (k) s, etc.
  7. providing care for a disabled child, spouse, etc.
  8. offset loss of key person in a small business
  9. Provide funds to purchase the interests of a deceased business partner and co-shareholder
  10. dividends may be an additional source of retirement income tax free.
  11. surrender values ​​are a source of emergency funds in life.
  12. cash values ​​may be fully or partially annuity to provide additional income guaranteed for life.
  13. Any unused funds can be used to provide a gift to grandchildren.
  14. Provide a donation to charity at death or before if desired.
  15. This adds flexibility to the succession plan.
  16. This allows parents to balance unequal distribution of property or business interest to children.
  17. It allows parents to spend all their money and still leave an inheritance to their children or grandchildren.
  18. There is evidence of creditor in most states.
  19. It can be designed to provide a Äúinevitable gain, Âu no matter when you die.
  20. There may pledge loans. As people live longer, they tend to take on more debt or debt that has a longer amortization (just look at all the great houses being built by people who make up a family of two post- 65 adults!)
review your personal situation. Perhaps you will find there is more to own life insurance reasons you think after 60 years.

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Anthony Anderson opens on the life and life insurance

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Anthony Anderson opens on the life and life insurance -

may know Anthony Anderson of his hit TV series black-ish and as an host of Eat America , but this actor and comedian is front and center this month promoting the power of life insurance that life happens "spokeswoman insurance -life awareness month. Here it opens on life and life insurance.

Life insurance is generally considered a fairly serious business. Why is someone famous for their sense of humor spokesperson of Life Insurance Awareness Month?
Anthony Anderson For free insurance! I laugh! Joking aside. I've seen what happens to families who do not have life insurance. I just buried a childhood friend who had no life insurance, so we all had to come together and help bury him and take care of his family. And his story is similar to many stories across the nation about people who do not have life insurance.

Over 100 million Americans have no life insurance. That is why I am a part of this to spread the word and raise awareness for those individuals and communities to let them know that it is to be prepared and take care of your family.

What was your first experience with life insurance?
Anthony: This is Marie. We simply called him The Lady Insurance. It was a device in our house growing up. She made sure that my parents had life insurance and would stop by a couple times a year to check on us. She also sold my first policy when I was 18. So my experience with life insurance growing up was basically something that prepared us if one of our parents died doing so our future was secure.

You have no idea what tomorrow will bring, but we can do it today and today we are talking about life insurance.

Your parents a great example. Is this something you have done with your children?
Anthony: I certainly shared the life lesson that you have to plan for the future. I'm leading by example, too. I increased my coverage of life insurance that my financial situation has changed. That crosses my mind is: How much life insurance do I need for my family would not fight if something happened to me. I think this applies to everyone, regardless of income or background

What most Americans not know life insurance
Anthony:.? it is an investment in the future of their family. If something happens to the head of the house, the family falls apart. But if they have life insurance, the family can stay together and continue with their lifestyle. I think wrongly that we must clarify for people who do not really know.

Many people say they can not afford life insurance. What would you say to them
Anthony: I grew up in Compton. We did not have much money, but my parents made life insurance a priority. They paid the bill to ensure that their family was protected. I do not understand people who will grab a latte and whip their smartphone and say they can not swing $ 15 or $ 30, or whatever basic life insurance could cost them each month.

people also believe that a disease like diabetes make ineligible for a life insurance cover, but this is not necessarily true, is it
Anthony: I have type 2 diabetes and obtained life insurance. It is all about managing your disease. I exercise and eat well right most of the time at least! So with the work I put in and with the help of my doctor, it is under control. I encourage everyone to get healthy for their sake and the sake of their family. In many cases, you can still get a life insurance if you stay as healthy as possible and control of your disease.

Unfortunately, your father died of diabetes complications, and your younger brother was tragically killed in an accident while he was in his 20s. How life insurance come into play
Anthony: Kicking the people you love is never easy, it is devastating. But why do a lot worse by launching financial problems above it all? My father and brother both had life insurance, which came through for us during this time really, really hard

Any parting advice
Anthony:.? the message I would leave people with is that you have to plan for the future. You have no idea what tomorrow will bring, but we can deal with it today -and today we are talking about life insurance. If you get life insurance, the future of your family is taken care of.

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6 simple reasons people may need life insurance

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6 simple reasons people may need life insurance -

Many people make the assumption that life insurance is for married couples and those with children. It is true that every single need life insurance, there are a number of reasons when it can do (really) good sense.

1. You have a student loan debt. Many people assume that your debt dies with you, but this is not always the case. While lending by the federal government are discharged (aka forgiven) if you were to die, personal loans have a cosigner usually do not. This means that if your parents, for example, co-signed your student loan by a bank, they would be responsible to pay the remainder of the loan if something happened to you. There are cases where the bank has called for the loan to be paid in full immediately after death. You do not want to let your parents deal with grief and loan payments.

2. You live with your significant other. financial responsibility when you live together, much is shared. Consider this example: You need both your income to meet the mortgage or rent where you live. Have you thought about what happens if one of you dies prematurely? Is another partner obliged to sell up? Find a new place to live immediately? And this is just one example of many shared financial responsibilities couple. adequate life insurance is an easy answer to these questions.

If your parents co-signed your student loan through a bank, they would be responsible to pay the remainder of the loan if something happened to you.

3. You are planning to have children ... someday. It may not be now, but when children come, as expenses and bills. According to the USDA, it costs $ 245,340 to raise a child of 18, and that is without considering the cost of college. Get life insurance in place now means that you have the coverage in place when you have a child. In addition, you protect your insurability for the future. ... And that brings us to the following reason.

4. You are young and healthy. The age and health are two main factors to how much you pay for life insurance. Why not block a lower price if you have both of those who work for you? Did you know that the health of 30 can get a 20-year $ 250,000 term life insurance policy for about $ 13 a month? Doable, right? Do not expect a health problem or age puts life insurance out of your reach.

5. You know you'll take care of family members in the future. This may mean aging parents or maybe you have a special needs sibling that help you care and support financially. What would happen to them if something happened to you and your support gone? Life insurance can ensure that there is money in place to fund these requirements in the future. This is where it might be wise to consider a permanent life insurance policy (one that is there for your life, as long as you pay your premiums).

6. It will pay for your funeral. Nobody likes to think about such things, but the truth is that if you die, someone will pay for your funeral. You would not let your parents, partner or other family members struggling with the pain and to pay for a funeral and burial, which can cost an average of $ 7,100.

Get life insurance does not have to be a daunting task. A life insurance agent can guide you through your options-free. If you do not have an agent to work, click here for more information on finding the right person and in your area.

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4 Ways to Get Financially Fit in Your 40s

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4 Ways to Get Financially Fit in Your 40s -

Many people in their 40s are facing an uncomfortable fact: They are just not where they had hoped to be financially. Fortunately, all their life experience can help correct past mistakes.

"There are a different start time for everyone," said Jay Howard, consultant and financial partner to the financial MHD in San Antonio, Texas. "But no matter when he comes, people gather looking down the barrel of a gun as they consider retirement. "

one challenge is that it is impossible to advise 40-somethings based on demographics" life stages "tidy. Some just starting families, while others send children to college. They are married, single, divorced, and just about everything else

But for those who are still struggling with financial instability, these four principles can help move forward with confidence.

1. Acknowledge what you have done right.
There could be a great decision sandwiched between some fail, or just one good habit that can mitigate the impact of a host of wrongs.

Take the example of Kiera Starboard, a 46 year-old controller in a San Diego software company. A mother of two adults and a teenager son son-she always have enough life insurance to both term and permanent priority, the result of his previous training as financial advisor. "Even if it was tight, I made the payments," she said. "It was a priority for the sake of my family, for my own peace of mind."

In contrast to the 40% of Americans have no life insurance, Starboard was protected when the unthinkable happened last August Less than two years after her marriage, her husband, Steve, was killed while riding his motorcycle to work in a month after they bought a smaller, the life insurance policy to supplement its coverage the employer.

"In having to face financial difficulties above all else, it would have been unbearable, incapacitating," says Starboard. "My son-and I certainly are in a much better position today than we would have been, had Steve and I followed the advice I used to give to others."

2. Take steps to consolidate the coming decades.
for many, the hardest part can be to learn to put your own long-term future of first sometimes for the first time in your life.

"I see people focusing on college savings for their children, and not enough on retirement or an emergency fund for themselves," says Starboard.. many counselors emphasize that children can borrow for college if necessary, but no one can borrow for retirement

the most important step is clear, said Howard. "You must have a written financial plan, period Because this plan will dictate what you need to do to be successful all of your life.

"The financial plan is your roadmap," he continues. "In this portfolio will be your needs, your savings goals, and your insurance related needs."

Finally, make sure your plan takes into account inflation, usually estimated at 3% per year. said Howard, "inflation is the silent killer that eats your nest egg."

3. Apply wisdom fought hard you won.
"Treat numbers obtained by your plan such as savings the invoices to be paid monthly," advises Howard. When the money comes in, it's easy to start thinking about a new kitchen or a trip to Tulum. "Just be patient and keep the bills paid."

using this wisdom also applies to the big stuff. As executor to the estate of her husband, Starboard chose to take major decisions. "in a loss before, I engaged in real estate transactions and other things prematurely. At the time, the good thing we really had to do, but my pain clouded my perception. I had a painful expensive learning lesson. "

4. Concentrate on your bright future indeed.
Forward thinking is an essential part of your financial plan, says Howard." Getting help really consider this type of retirement you want. For each aspect, really drill down. For example, where do you live? Want to be close to your grandchildren? Will you have the money to go see? At what frequency? There are no financial planning, it is planning for life ".

If all forward thinking feels presumptuous, Howard reminds eminently quotable Yogi Berra, who said, "If you do not know where you go, you can not get there"

And finally, remember the simple refrain: .. it's never too late

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The Movement of the debt. Taking down $ 10 million of debt in 0 days, Togetherness

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The Movement of the debt. Taking down $ 10 million of debt in 0 days, Togetherness -

My father

all started to sink when I was in college.

My father told me how he was having his house reassessed.

at first I do not understand.

And then it finally clicked.

The reason for his reassessment was that his house could be assessed more and then it could borrow more against it.

The realization left me lost for words and comprehension.

I do not know.

I knew my father had struggled with debt.

He had already gone bankrupt once, but somehow managed to get approved for more credit cards. He was always buying new gadgets for the computer and other things he does not really need.

One might think that filing bankruptcy you learn your lesson, but unfortunately this was not the case.

He managed to accumulate more credit card debt after its bankruptcy.

A RAM is the white sheet of paper sitting on his computer desk that listed all his credit card debts with interest rates and the current according to the amount of the minimum payment.

he was constantly juggling to try to understand how he could borrow money from a credit card to make the minimum payment on the next.

he tried to drive on it does point out, but I knew better

I could see it in his face and hear it in his voice .. the debt killed

I would like to think that my father wanted something different.

This he would not be in debt.

for some reason, he could never figure a way out.

Like father, like son.

In college, I started down the same path. I took student loans when I should not since the National Guard paid my school fees and most of my expenses.

A friend showed me how easy it was to apply for a student loan. It was like getting free money from an ATM. I filled out the form, turned in, and presto, a few weeks later, I got a check for $ 2,700 in my mailbox.

In addition to this, I opened a few different credit cards and found super convenient to drag every time I prepared to make my next purchase. I even co-signed a credit card with my girlfriend at the time, forcing some of my bad behavior on her.

After a few years of kidding myself that I become what my father had become, I finally woke up. Thank you for a change of mentality and a small inheritance from my grandmother, I could make a full commitment to get and stay out of debt for good.

The lucky.

Coming back, I feel as if I was one of the lucky ones. My father died in debt.

Many others struggle with exactly the same problem and need help.

That's why I start Debt Movement ™ .

I am in partnership with the community and ReadyForZero financial bloggers to help people repay $ 10 million of debt in 0 days

in this case did not sink in, let me repeat myself :. We will help people repay $ 10 million of debt within 0 days.

The Movement of the debt is more than just a number. It is to give people the tools, motivation and belief that they can finally enjoy financial freedom

Watch the video below to learn more :.

are you ready to become debt free? Join the Movement of debt Today.

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Americans do not understand the life insurance Here's why this is a problem

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Americans do not understand the life insurance Here's why this is a problem -We have a problem. According to LIMRA, a high percentage of Americans do not know much about life insurance, and if they do not understand, they are not going to buy it. In a recent essay, LIMRA gave 4,000 people a life insurance IQ test to assess their knowledge and understanding of the life insurance. Only 10 passed the exam of 10 questions, and the majority responded less five questions correctly.Those who knew the most about life insurance quoted several sources who attribute their understanding of life insurance. They also have life insurance property and heard about it through work, a seminar or a financial planner. Most were older, more educated and viewed as important in life insurance. But on the whole group, less than 1% of those who took the test correctly answered all ten questions.One of the main reasons consumers give for why they do not buy life insurance is because it is "too confusing the study." Showed that consumers with better understanding of life insurance have a higher level of trust in insurance companies as those who are less knowledgeable about life insurance.The ownership of life insurance is to a low of 50 years, although last year showed an increase in the number of policies written. Sixty-five million families depend on life insurance to protect their loved ones, but according to the Census Bureau, there are 112 million families in America. This means a third of families have no life insurance, and many of those insured are under insured.According to LIMRA study and LIFE Barometer 2012, the amount of insurance held is less than four times the typical annual income of the individual. The exact amount to have, depending on the age of the individual, should be 10 to 20 times their current income. Based on a study by Swiss Re, the total amount of under-insurance can be as much as 22 TRILLION dollars.As a counselor myself, I understand that we have much work to do in the industry of life insurance, and the first thing to do is to educate Americans on the need to assume personal financial liability using the life insurance and related products in the process, and that is that the lIFE Foundation is all about.

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7 Tips for Buying Long Term Care Insurance

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7 Tips for Buying Long Term Care Insurance -

Contrary to popular belief, long term care insurance are not nursing home insurance. Think of it this way, if you have a chronic illness or become disabled and can no longer take care of you for a long period of time, you will need long term care services. care insurance long term can help you pay for the care you need in the setting you prefer, for example, infostats_LTCI_52percentconcerned as your home. Here are some tips to get coverage:

1. Buy with your spouse or partner. Long Term Care Insurance companies offer discounts to couples who are married or living together. You could save up to 30% if you apply with your partner. Most carriers will always give a partial rebate even if only one of you is approved. The discount applies to married couples and domestic partners.

2. Consider shared care. A useful feature of long-term care insurance policies is shared care. This is an additional feature that you can purchase that allows a couple to share the benefits of each policy. For example, Mr. and Mrs. Smith each purchase of $ 0,000 in benefits. Mr. Smith became ill and uses its $ 0,000. Ms. Smith's policy is intact. Because they shared the care, it can draw on its benefits for additional coverage. Shared care can be valuable for any couple, but especially in cases where there is a big age difference.

3. Watching inflation hedge. Inflation coverage is added a rider to a policy that helps the amount of the benefit follow inflation. This is necessary because the amount of coverage you buy today may not be enough to cover your care when you're in your 80s, the average age of people who file claims. But inflation hedge can double the cost of your policy, it is important to choose wisely. A counselor who specializes care insurance in the long term can guide you through the various options that are available.

4. Buy before your birthday. You'll save money if you buy before your next birthday because of long-term care insurance rates are based on age. Another reason to avoid putting it off is if you wait too long, your health could decline and you may not be eligible for insurance.

5. Ask about any tax as possible delisting. long-term care insurance premiums are tax deductible if you own a business or have high health care costs. If you have a part-time business, such as tutoring, you may be able to receive radiation. Consult your tax advisor.

6. Know what looks like a medium shot. If you are like most consumers, you can be sure of how much coverage to buy. An average plan can provide $ 5,000 per month in benefits to a maximum of $ 180,000. An elderly couple aged 55 could pay $ 185 per month for their coverage. Your needs may be different and a counselor can help design a plan based on your personal situation.

7. Consult an expert. Most insurance agents sell very little long-term care insurance. They often do not have the expertise in this product to help you modify it to meet your needs. Once you have done your research, you'll want to work with a specialist in long-term care that customize a plan for you.

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It's time to get your (own) order in the finances

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It's time to get your (own) order in the finances -

economy. The "fiscal cliff." Increased taxes. Decrease in deductions and credits

The media is full of doom-and-gloom news 2013 :. How the impact of changes (or lack thereof) will negatively affect taxpayers while those on the Capitol Hill debate and disagree. Meanwhile, taxpayers expect, powerless to do more than watch and wonder and worry.

While it is true that you can have minimal control over what the government decides national budget, you have significant power over what happens on your own "Capitol Hill. " the new year serve as an incentive to get your "house" budget in order, using this quick list of three key areas to look.

# 1 estate-planning

do you have a will or trust? And if you do, when was the last time you reviewed it, update it to reflect changes in your personal life or financial situation?

According to Financial Web, die intestate (without a will) means that your estate will go through the probate process, and your assets divided by the laws of the state, not necessarily in the way you would desired. (Intestate Calculators help you see the effects of these laws.) Your family will probably need to hire a lawyer, so that your estate will most likely have to pay for administrator's services and other costs the settlement of the estate. And then there are the personal items and family heirlooms, collectors possessions-that personal may not be given to the very people you most want to have them.

All these costs, not to mention the possibility for the family-dispute could have been avoided by making a will or creating a trust.

# 2-legal documents

durable financial power of attorney, according, is a document that gives someone (often referred to as your agent or attorney in fact) the legal authority to act on your behalf in financial matters. Both living wills and powers of attorney the health care give you the ability to define your wishes regarding your medical treatment while you are still able to communicate. The living will (also commonly known as an advance directive, or the appointment of a patient advocate) also indicates that the right and the power to make end of life care decisions on your behalf. (In some states, the two documents are combined into an "advance health care directive.")

# 3-Insurance Coverage

When you hear "insurance", do you think that the car, a home or personal property? If so, you need to expand your definition and understanding, and then contact an insurance professional for more information and help in choosing the right policy for your needs.

Start life insurance , which includes both term and permanent. While term insurance is the most affordable type of insurance when originally purchased, it is designed to meet the temporary needs and provides protection for a specific period of time. Permanent insurance provides lifelong protection, accumulates cash value and price is for you to keep for a long period of time.

Disability Insurance provides an income for you and your family if you are unable to work due to illness or injury. And while you may think that workers' compensation will handle this possibility, the statistics show that most disabilities occur away from the workplace, and the majority of long-term disabilities caused by the disease, no accidents.

long-term care insurance is just what it sounds like: insurance to cover your expenses if you have long term care needs due to illness or accident. According to LIFE, the chances that you'll need some type of long term care is about 70%. Think it is only for the old? Think again: 40% of patients receiving long term care are under 65, notes LIFE. (The long-life care page includes a printable consumer guide (PDF).

In examining these areas and to correct deficiencies or weaknesses, you'll be on your way to protect your future and one of those you love!

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Cupid hits the streets to see if there is a link between love and life insurance

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Cupid hits the streets to see if there is a link between love and life insurance -

Well, the Month of Love is upon us, and who better to know if there is a connection between love and life insurance as Cupid. (And we bet you've never met a cupid like this first!)

Tell us, do you think that cupid is right when he says: "life insurance is the best way for me to show you I love you"


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People buy life insurance because they love someone

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People buy life insurance because they love someone -

People buy life insurance because they love someone. My life is proof.

When I was 17, my father was only 52 years old at the time, was diagnosed with colon cancer. Unfortunately, the cancer has progressed and I saw him become sicker. Finally, when I was 19 and my father was 53 years "young", he lost the fight against cancer.

Although I was too young to appreciate it at the time, looking back now, I can see how lucky we were that our life insurance agent had always been search for ourselves if my parents thought it was perhaps a little too impatient.

My parents bought a life insurance policy when they were married, and again when they built their house. Then when my sister was born, they bought another, and when I was born yet another. When they need to plan for college and retirement, again, they bought a policy.

My father was a big believer in owning what he bought, not "rent" for him, so he bought all life insurance policies. Of course, this was the day when people did not have much money, and a well paid job was considered $ 40,000 per year.

I understand now that if were not for the persistence of the agent of our family and my believing parents what he preached, the result for our family would have been much different. There are a lot of madness that could have happened. Instead, the application was paid and my mother was able to maintain its financial dignity by paying debts that were the result of treatment of my father. She was able to keep things simple, like Christmas and birthdays a fun and happy time even without dad.

The experience of the power of life insurance has had a profound effect on my life. I was just 19 years old when my father died, and to be honest, I'm not really grasp what had life insurance for my family at that time. But when I was 26, having started another career, I came "home" to life insurance. I am now a consultant and, much like our agent was there so many years, I help families plan for the future, whatever it may bring. I help them understand that people want life insurance for what it does, not for what it is

I do not need to make up the importance of life insurance . I lived it. I know that people buy life insurance because they love someone. And I'm living proof. It could have been very different.

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Why everyone should have a directive Advance

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Why everyone should have a directive Advance -

What would happen if you have suffered a catastrophic medical event such as a stroke or an accident which leaves you incapable of communicate. How do you "have a say" about the type of care you receive or do not receive. The answer is an advance directive.

Every adult should plan ahead by completing an advance directive specifying his personal preferences regarding what is acceptable and unacceptable medical treatments. There are two types of advance directives:

A living will: This legal document states your preferences about the type of medical care you want to receive (or do not do) in different scenarios if you are incapacitated and can not communicate

medical power of attorney :. also known as a durable power of attorney for health care or health care proxy, a medical power of attorney to another person names, such as your spouse, daughter or son, to make medical decisions for you if you are not able to make medical decisions for yourself, or if you are unable to communicate your preferences. Note that a medical term is not the same as a proxy, which gives another person the authority to act on your behalf on matters you specify, such as managing your financial affairs.

Here are some important points to remember:

  • Each state regulates advance directives differently. Consequently, you might want to involve a lawyer in preparing your advance directive
  • You can change, update or cancel an advance directive at any time, in accordance with state law .
  • If you spend much time in several states, you may want to have an advance directive for each state.
  • Make sure that the person you appoint to act for you-your health care proxy has current copies of your advance directive.
  • Give a copy of your advance directive to your physician and, if applicable, your establishment of long-term care.

Be sure to contact your agent or advisor for financial details.

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Life insurance no medical exam: Is It Worth It

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Life insurance no medical exam: Is It Worth It

- life insurance agents across the nation see a strong trend of families asking no insurance product life of the medical examination. Even when their agents present at lower cost alternatives traditionally underwritten, a growing number of families are opting for cover "non-drug".

This is not surprising. A medical exam life insurance is one of the biggest drawbacks of the process and for many families, it is a deal breaker.

An increasing number of life insurance agents (including myself) are firmly convinced that the life-insurance no medical exam aid families that otherwise would not bought life insurance

No life insurance policy for medical examination to take away the excuse of :. "I do not have time." Or "I do not want to take an exam."

life insurance companies are seeing the trend. Each year there is more life insurance products without a medical exam to enter the market. The market is becoming more competitive (finally), which lowers premiums.

The biggest disadvantage

The biggest drawback to this type of life insurance that requires consideration is it is more expensive. Those who buy a no exam life insurance will pay more of a traditional life insurance policy, in most cases. The life insurance company is taking a greater risk of not fully assess your health and compensates for this additional risk charge more.

The Biggest Misconception

As no medical exam, everyone can qualify, right? FALSE

The truth is: You must be in decent health to benefit from these free-review policies. You must first answer a series of health issues. If you pass these, most no life insurance companies check your medical examination MIB (Medical Information Bureau), pharmacy vehicle gear and engine.

Only if all those back in the underwriting guidelines of this company life insurance you be approved.

The high risks are declined for immediate coverage but can qualify for "death benefit classified" which are non-medical review policies that have a waiting period before benefits kick in. this life risk Higher Power insurance policies are the most expensive life insurance policies on the market, but are an option.

when it makes sense

So who should consider a non-medical-exam policy?

1. Those who have not seen their doctor within two to five years.

At this point, you do not know if your lab work (based on the blood sample they take) is normal or not. Life insurance agents see a lot of people who say they are the healthy image that are not necessary to see their doctor in the past years and the lab results come, they are shocked by their rate high cholesterol, blood pressure, triglycerides or anything. This can increase your life insurance or even lead to a fall.

Provide life insurance without no-medical-exam medical examination of the life insurance policy before asking the traditional coverage gives you peace of mind that no matter what happens with your life insurance medical exam, your family will be covered.

If your traditional fully underwritten policy returns without hiccups Medical Examination, simply cancel your no medical exam life insurance policy.

2. If you need fast coverage life insurance.

Average life insurance underwriting can take four to eight weeks. If you can not wait that long, consider a no life insurance policy medical examination. If you qualify, you can have an effective coverage in days instead of weeks.

We see many people buying a front cover to go traveling or need quickly a cover to get a loan. Others just want to get it out of their mind immediately and use it as a placeholder until they take the time to qualify for a traditional policy (and cheaper).

3. You do not want to get stung and pushed.

No one really likes to prick with a needle, but for some it is a deal-breaker. Life insurance no medical exam is your product. The medical examination is an excuse to protect your family.

Bottom Line

insurance unexamined life is not for everyone, but it certainly has its place. No doubt in my mind, I know that more people protect their families because of the simplicity of attaching a life insurance policy.

If you are considering a non-medical-exam life insurance policy, contact your life insurance agent and explore your options. Get this purchase life insurance off of the pilot and protect your family today.

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7 What Sport obtain hard life insurance (or not!)

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7 What Sport obtain hard life insurance (or not!) -

One of the questions I have received over the years is "Do me my sport cause problems in buying a new life insurance? "the answer in most cases is no, but there are hobbies that can be a problem for the underwriters in the insurance company.

Here is a list of seven high-risk sports that are problematic as for life insurance

. 1. Ice climbing. Unlike their mountain-climbing counterparts, ice climbers are in constant danger of causing self-inflicted stab wound of one of their razor spikes, which is their # 1 source injury. Not to mention the possibility that the ice they are climbing can crack and take them with her.

2. Free running. Free running from roof to roof jump at full speed. No cables, no parachute, no insurance. Free running is practiced in urban areas that have a lot of guardrails and concrete walls for participants to jump, flip and tumble over acrobatically. I call running, jumping, bleeding.

3. Base Jump. Talk about crazy! I do not want to look down from a great building, and I have certainly not want to jump into the unknown of any height. Yes, I remember when I was a child and wanted to fly like superman, but a basic rider? No way. Furthermore, BASE jumping is illegal in the United States unless it is running by a professional at an event, so that you not only not get insurance, but you may end up in prison.

4. Heli-skiing. A skier fell from a helicopter on fresh white powder in an isolated section of the mountain, a place where there is no other way to get there. There is a possibility to start an avalanche or falling through a patch of ice, and if you do, it can be almost impossible to rescue.

5. Street Luge. Loosely described, this is the equivalent of lying on your skateboard and have your friend push you down Lombard Street in San Francisco. Riders on the street luge boards can reach 70 mph.

6. Big-wave surfing. Surfers dream of riding the "big" wave and are willing to travel around the world to catch one, and by the great I mean the monster 50 feet. What are the risks? broken bones, drowning, shark attacks. No thanks. I'll watch it on television.

7. Cliff diving. Have you thought about jumping off a 0 foot cliff? In water that feel like concrete when you hit? The biggest problem does not hit the water, because you can hit the side of the cliff on the way down; or slam against the rocks in the ocean below. You could also break a hip or suffer an injury to the spinal cord by landing feet first into the water. If it were me, I would die of a heart attack on the way down.

So yes, there are sports in which only the very brave or foolish should participate, but if you do, do not expect to buy a practice-rated life insurance or perhaps a life insurance.

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4 financial tips to keep your family safe

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4 financial tips to keep your family safe -

It is difficult for our finances in order, not because it is particularly difficult, but because it is boring ... ? Tedious? The last thing we want to spend time on? To remedy this, here are four tips that you can take on and accomplish

1. Make sure you have a life insurance or enough. Do you really need life insurance? Well, answer this question: Does your family suffer financial if anything to you? If the answer is yes, you need life insurance. Then comes the question, how much? There are a number of factors that go into determining how much life insurance you may need. But it should not be difficult. Instead, use the Life Insurance Calculator needs, and in just minutes you can have a working idea of ​​the amount you need. If you already have life insurance, why not use this calculator to make sure you have enough!

And do not let the cost or you actually received cost-stop to get coverage. Did you know that 80% of people overestimate the costs how much life insurance? And those under 25 think it is four times more expensive than it actually is. We will frame this way, you are 30 and in good health, a life insurance policy term of 20 years level with $ 250,000 in coverage can cost about $ 13 per month. This is the equivalent of a few drive-through Starbucks lattes. Here are a number of ways you can get coverage or find an agent if you do not have it.

Would you like your former spouse to get your life insurance if something were to happen to you because you forgot to change the beneficiary on your policy?

2. Review your life insurance beneficiaries. Do you want your ex to get your life insurance if something were to happen to you because you forgot to change the beneficiary of your policy? Do you want the money to get tied up in court because you named your minor children as beneficiaries? These are false that occur more than you think. Add to that the fact that people can have more than one policy, for example through workplace (Group Policy) that they purchased individually.

This is exactly the kind of thing a life insurance agent or advisor can help. And it costs you nothing to talk with them about it. Also, if you crossed tip # 1, they can double check that the amount of coverage that you came up with for your needs. Also, it is honestly a lot less hassle to have someone who knows what they do help you out, and is not that what we're trying to achieve here get done?

3. Do not skip disability insurance. Many people are not really aware of what disability is and what it does. Basically, it replaces part of your income if you are unable to work because of a disabling illness or injury. Why is this important? Think about how much time you can make ends meet to pay the rent or mortgage and all your monthly bills if your paycheck suddenly disappeared. A Life Happens survey found that the majority of those working would not more than one month before they would have to do some serious financial sacrifices. Again, an online calculator can help; Start with this unit need disability insurance.

So how do you get? Your employer may offer disability insurance coverage through a group plan. If you are not sure, contact your Human Resources or Benefits Administrator to determine what type of coverage you have (if any). If you are not covered, or need more than what is offered through work, buying your own disability insurance policy is worth considering. Unlike group coverage, private insurance stays with you even if you change jobs.

Also keep in mind that most people overestimate what the government will pay or cover if something were to happen. According to the National Safety Council, 73% of long-term disabilities are the result of an injury or illness that is not work-related and therefore not eligible for workers' compensation. And if you were hoping for disability benefits from Social Security, you should know that about 45% of those who apply are initially denied, and those who are approved receive an average monthly benefit of about 1 $ 100, leaving you live at about the level of poverty.

4. Automate your emergency fund. Although not as fundamentally critical that the advice above, this will probably be the biggest impact on your life day to day. Each of us is faced with unexpected events which are expensive, a major car repair, a leak in the roof, a job loss ... the list, as you know, can seem endless. To give you peace of mind and little cushion, set aside a certain amount each month, it could be $ 50 or $ 500, depending on your financial situation, and automatically deposited in your account to saving. If it is easier to follow, you can even keep it in a separate account. It becomes obvious, because the money is not there for you to spend. In a year, if you have selected one of the above amounts, you could have $ 0 or $ 6,000 stashed!

These tips will put you on the path to ensure that if the unexpected occurs, you and your family will be OK financially. And what is more valuable than peace of mind?

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5 steps to make sure your family is protected financially

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5 steps to make sure your family is protected financially -

Have you ever thought about what would happen to your family if something for you? We all have at one time or another, even if it was in the form of a note of frantic mental love sent to family members in case of bad air turbulence. But the desire to protect your family financially does not have to turn to worry if you follow these steps.

1. Take a look at that financial security means for you . Just as "rich" means different things to different people, so is financial security. Start by asking what would happen if the primary breadwinner dies prematurely (could you or your spouse or partner). You want your loved ones will be financially OK, but what it means to have a sufficient income ... for a lifetime? ... Not need to move out of your home and neighborhood? ... Enough money for your spouse or partner for the transition to a job if one parent stays at home? ... To provide for your children to college or maybe just a part and have to pay the rest? Once you have created, you can move to ensure that a plan is in place.

2. Determine needs over wants. They are not the same. You may safety 100% provide financial want your spouse for their lifetime and your children to college, but can you afford it? Most of us have no savings to achieve this, which is where life insurance comes in. You'll want enough money or death benefit if invested to rate current market (2% -4%) you can generate your (or) income of your spouse missing. This means you may need more life insurance than in the past. Before, the invested proceeds of $ 500,000 life insurance benefits would be replaced, a / Year $ 50,000 salary. Now, you might need $ 1 million of coverage to achieve the same goal.

3. Look at the full picture. This is not only life insurance that is just a piece of the formula. You need to look at all of your assets such as money in the pension, your benefits programs, investments you may have, that money your family would be to get social security, life insurance that you already have in place, etc.

Moreover, people often have large families to care for the economic requirements which may be established in a divorce decree. Or they may have special needs children who will never be able to work. In this situation, a trust must be established, funded by assets or death benefits to create an income stream for as long as they live. In addition, many of us have either adult children or our elderly parents living with us now or in the future that we can be financially responsible.

Once you have these numbers, you can understand what the shortfall is-which can be funded with life insurance or more life insurance than you currently have. This should not be particularly difficult to start. Use this Life Insurance Calculator, which has inputs for this type of information and can help you obtain a working idea of ​​how much life insurance you may need to cover any deficit needs.

4. Get help if you need them. Sometimes our need for life insurance is simple. Often, however, when we need to take into account the particular circumstances, it can become more complicated. Insurance agents are there to help. It's their job. They sit with you at no cost or obligation, and go through these steps with you and help you find a solution you can afford. You can "want" permanent life insurance policy to ensure the financial future of your family, but an agent can show you what you "need" is really a term life insurance policy you can allow without straining your budget or maybe it's a combination of both. If you do not currently have an agent to work with, you can start with advice on looking for and our agent locator.

5. Do not forget disability insurance. If you and your family depend on your income, then you must ensure that you have disability insurance. Ask yourself honestly if you were sick or injured and unable to work, how long can you survive financially without your salary? In a survey that life happens is we found that most Americans feel the effects within a month or less. Keep in mind that Social Security pays disability benefits that average about $ 1,100 per month, and it can take a year, often much to even get this payment.

Disability insurance pays you a portion of your income if you become ill or injured and unable to work. It can be offered as part of your benefits program through work, but be sure to check with your human resources department, and know what percentage of your income is replaced (often 60% or less ). You can also buy an individual policy, you own, and so does not depend on your benefits program being reduced or even eliminated. To have a working idea of ​​how much you might need, you can use this Calculator disability insurance needs. Again, this is something that the insurance agent can help you understand as well.

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Divorced? Do not forget to change your life insurance beneficiary

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Divorced? Do not forget to change your life insurance beneficiary -

There's a lot that takes place when a marriage dissolves. Not only is it an emotional time, but all assets acquired when a couple has been together also to be divided. An important asset that must be supported, but might not come immediately to mind, is a life insurance policy. While many couples name their spouse as the beneficiary of their life insurance policy when they are together, it is most likely that they do not want this remains the case after divorce.

Why do so many people fail to make this change and the death benefit of their political winds up going to their former spouse? Simply put, they forget. This is a detail that gets overlooked with all the other things that need attention at such a time. Unless you contact your life insurance provider and advise them of the change, the beneficiaries of your policy will remain in effect, regardless of division.

Making the change is easy

Changing the beneficiary on your life insurance policy is easy. Simply contact the life insurance company, request a change of beneficiary form and fill in the relevant forms. It is a good idea, too, to ensure that this change is noted in any other paperwork surrounding your living will or your estate, so there is no confusion after departure.

There is also a good idea to check if your workplace insurance policy can be modified to reflect a beneficiary other than your former spouse. You may find that your work policy will not allow you to name specific people (ie, close relatives such as children) that your beneficiaries and that some policies will actually prohibit you from making a change of beneficiary in certain situations.

Check policies and beneficiaries of surrounding life insurance laws in your state to see what changes you have the right to do and when. In some states, for example, you may have to automatically appoint a new spouse as beneficiary of the death benefit of a policy.

A new spouse in the picture

If you divorce and planning on getting married soon after your divorce, you will have many things to think about, especially if you have children from a previous marriage. You may want to consider creating a trust to name a beneficiary, instead of just blindly list your soon-to-be spouse, especially if the policy was originally planned to take care of your children.

Most likely you have taken the life insurance policy to protect your children financially if something happened to you. Make sure you do not do anything that could jeopardize the original plan. If a trust is not something you want to do or can not afford to do, you may want to consider talking to your life insurance advisor for a separate policy and plan for the new marriage. This way you ensure that the original policy did what you intended, which is to take care of your children.

Get the billing right

One more thing to remember. Who pays for the policy? If your former spouse was paid for the policy, you must ensure that you get the invoice updated. This will ensure that there is no chance the policy expires by the non-payment.

You should talk to your life insurance challenge to advise and ensure that you get sound advice. After all, these are the ones you leave behind that will be left to clean all that you do not take care of now

List of things to do :.

  • Talk to advise you in life insurance for advice
  • Contact the life insurance company to get the change of beneficiary forms
  • Check if your professional life insurance policy beneficiary can be changed
  • Talk to your lawyer about the establishment of a trust
  • Consider getting a policy separate cover for a new marriage
  • Make sure the billing is updated and current

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Ensuring Your Business Survives (even if you do not)

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Ensuring Your Business Survives (even if you do not) -

If you own a business, the business you've built your pride and joy, and most likely your source of income. It is therefore essential to think about the future of your business and that does not include you.

You might think that if you die, your family could maintain their income by running their own company or by hiring someone to manage day to day. The fact is, your relatives may not have the skills or desire to work, and your co-owners can not accommodate the idea of ​​involuntary partner.

Therefore a buy-sell agreement is important to consider. This is a legal agreement between the owners to buy from the company of a deceased owner to a prior agreement on the price.

There are four ways to finance a buyback plan for the death of an owner. They include:

Method 1. Cash: The buyer (s) could accumulate enough cash to buy the interest of the company to the death of the owner. 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. Method Deposit: The purchase price may be paid in installments after the death of the owner. For the buyer (s), it could mean a drain on business income for years. In addition, payments to the surviving family would depend on the future performance of the company after the death of the owner.

3. loan method :. Assuming that the new owner (s) could get a business loan, borrow the purchase price requires that the future business income be used to pay the loan interest PLUS

4. method Insured: only life insurance can ensure that the money necessary to make the sale will be available exactly when needed for the death of the owner, assuming the company has been assessed accurately

With a well structured buy. -Sell Agreement funded with life insurance, your business partners will not have to scramble to come up with the money to buy your share of the business and you will be guaranteed that your survivors will be compensated fairly and quickly.

this issue is important enough that you should talk to your advisor today about how you can start the process to implement this important strategy.

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Thinking about retirement? What you should know and do now

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Thinking about retirement? What you should know and do now -forward to not having to go to work anymore? Travel planning in remote locations or plan a lifetime options learning? Perhaps you even think about these ambitions, a long time ago and I was wondering if you can turn them into reality?Retirement can be a wonderful opportunity to make the most of your next stage of life, but it requires advance planning so that you have the necessary financial resources to achieve your goals and follow your dreams . Even if retirement is more than just a few years away, you still need to start the process now, to make sure everything is in place.The next week is planning Week NZS 2013 (April 8 to 12), the perfect time to do some serious pre-retirement planning to assess if you are ready when the time comes. (?! Already retired It is not too late to evaluate your situation and make changes) Here are some areas to assess: Your Finances: Do you know how much money you have available and how much you will need to live? While you can take Social Security at age 62, waiting until you are 70 might make more financial sense. You will receive the same amount of lifetime benefits in both cases, but the monthly benefit amounts can vary greatly depending on your retirement age, according to the Social Security Administration. Work a few years can lead to a stronger financial position.Regarding the calculation of your post-retirement costs, the National Retirement Planning Coalition cites rising inflation, rising taxes and market uncertainties that only three factors can have a negative impact on your budget. And, if you retire with significant amounts of debt, you might end up having to return to work just to make ends meet. Improve your financial situation now while you still have an income can make your retirement years easier on your wallet. (More tips are available at SmartMoney of "How to set a retirement budget.") Your insurance coverage: Is it enough amount of your life insurance benefit provide for your spouse or partner upon death unexpectedly? what about long-term care that you have enough assets for you both to cover the costs? and you know what Medicare covers and it is not
  • life insurance: If you have a mortgage, other financial obligations, or a family member dependent on you for support, life insurance can fill the financial gap when you die. According to the plan, you may also be able to tap into it in the case of a diagnosis of terminal illness. (I do not know how much you need life insurance Use life needs calculator and compare the results with the amount of your current policy ?.)
  • care insurance long-term: While you want to remain independent as long as possible, chances are that at some point you will need an assistance measure which could mean hiring a help home health care or moving to an assisted living facility or nursing home. However, health insurance only covers doctors and hospital bills. Medicare covers just short-term skilled nursing home care and Medicaid only play if your assets are very limited. A long term care policy can ensure that you receive the level and type of care you need. (For more information, visit the page of care insurance long life.)
  • Health insurance: It is true that you can register for health insurance coverage to 65, even if you're not ready to retire, (which could prevent you from being charged higher premiums), you will most likely want to purchase additional Medicare or Medigap policy to supplement your coverage and pay Medicare spending does not cover. (Visit for details.)
With the retirement potentially lasting 30 years or more, you want to make sure you do not outlive your money. Consult your financial planner and insurance professional for advice on building your pre-retirement position so that you will be able to enjoy your later years in employment.

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5 financial tips for moms

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5 financial tips for moms -

Only 24% of mothers were satisfied with their current financial situation and a quarter admitted they are struggling to make ends meet or are worried for their financial future. However, only a third of mothers currently use the services of a financial professional to help them with their investment and / or insurance needs.

Some startling statistics of mothers who were interviewed for "State of the US parent study" published by MassMutual and conducted by Forbes Consulting Group, LLC. The study consisted of 1,014 interviews with American women who are financially responsible for children under 27. The interviews were conducted in older mothers 25-65 with household income greater than $ 50,000 that contributed to least 40% of the decisions regarding financial matters in them. households

regarding insurance, the data show that moms can bring their families in a vulnerable position: 46% of mothers surveyed do not have disability insurance and a number yet most (68%) do not have insurance, both key to long-term care to help ensure the long term financial stability

Here are some key tips MassMutual to help moms get their finances on track :.

  1. Be prepared. emergencies are not predictable. Set up an emergency account now to help protect you and avoid putting yourself in a troubling financial situation.
  2. Protect your income. If you are a stay at -home mom, provide valuable services to your family that can trigger out-of-pocket expenses should something ever happen to you. With the help of a financial professional, you can explore the options available to ensure that you plan in advance, no matter what the future holds.
  3. Protect your independence. long-term care insurance is an option that allows you to have a plan in place to help protect your assets and remain as independent as possible, if you need the need of long term care.
  4. map now (at the latest). do not procrastinate when it comes to planning your financial future. Nobody knows what the future brings, so now is the time to sit and think about how to pass your assets - not your taxes -. At your heirs
  5. do them. schedule monthly meetings for discussion sit down with your spouse or significant other to discuss your finances. It is essential for two people to have a complete understanding of all debts and assets in order to build a realistic plan.

This is excellent suggestions for Mass Mutual, but better still is to sit down with a professional or a financial agent to review your current situation, identify problem areas and to develop an action plan with appropriate solutions. A good starting point for a young family with the Foundation's educational resources VIE here.

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Startling Stats disability (and they are tweetable)

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Startling Stats disability (and they are tweetable) -

People are much more likely to ensure the things they buy with their paycheck that the check itself. New car? Insurance check. New house? Insurance check. New boat? Insurance check. But few people wonder what would happen if the wage that pays for the car and the house and the boat suddenly disappeared because you were dismissed from work because of a disabling illness or accident. This is where the disability insurance comes in. It provides income until you are able to return to work and to win again this salary.

May is awareness of disability insurance Month, so help spread the word about disability and the importance of disability insurance. Here are some statistics and information that are "tweetable" which means you can share them by clicking on the fact that you want to tweet and the tweet will be generated for you. And make sure to follow us on Twitter at @LIFE_Foundation.

1-4 workers fight with $$$ immediately if they were disabled and could not work. #DIstat
(Source: The Disabled Persons Survey conducted by Kelton Reseach on behalf of the LIFE Foundation, April 2012)

only 31% of workers have long-term disability insurance to help if they can not work. #DIstat
(Source: LIMRA and LIFE "Insurance Barometer Study," 2012)

Can you live on $ 1111 ? This is the monthly average payment of disability social security #DIstat
(Source: social security Administration).

the disease causes 9/10 ALL disabled workers need disability insurance, regardless of employment #DIstat
(Source!.: Council for disability awareness, long-term disability claims review, 2010)

Many young adults worry about money, but the vast majority has no disability #DIstat
(Source: LearnVest / white guardian, life and disability insurance: IS 20 aND 30-somethings THINK, 2013).

35% of young adults have disability insurance, compared to 57% who have a life insurance. #DIstat
(Source: LearnVest / white guardian, life and disability insurance: IS 20 AND 30-somethings THINK, 2013)

1-4 from 20 years today will become disabled before retirement. Start defending your incomehttp: // #DIstat
( Administration of Social Security, the basic facts, February 7, 2013 )

Yikes 21% of young adults say they do not have disability insurance because their jobs are not physical. #DIstat
(Source: LearnVest / white guardian, life and disability insurance: IS 20 AND 30-somethings THINK, 2013)

pregnancy can be exciting, but it can be a handicap that interrupts your income. Protect yourself #DIstat

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The importance of "self-perform" College Fund Program

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The importance of "self-perform" College Fund Program -

June is a month filled with planks flight mortar graduations, large slices of cake graduation , toast to a job well done. But behind the celebration is a serious issue for those children whose college graduation is in the distant future :? Do you have a college fund program "self-fulfilling "

the actual total cost of four years of college education (ie, tuition, fees, room and board) at an average age in the State University for 1979-1983 years was $ 10,945. the total actual cost of that college education for the 09-13 year was $ 66,370. Thus, the cost of obtaining a four year degree rose to 6.19% per year over the last 30 years.

This means that your baby will need almost $ 260,000 to complete a public four-year college when she starts in 18 years. How much have you saved for his college fund? How much will you save for her college fund?

If you earn 5% per year on your investments, you will need to save $ 739 per month to reach your goal, but if something happens to you along the way? Do you have an auto-complete college fund program? Did you know that you could buy $ 250,000 of the level term life insurance policy 20 years to less than $ 20 a month?

A permanent life insurance policy with a death benefit beyond 100 years is about $ 100 a month, and unlike term insurance, 20 per year, the amount of the premium paid and the redemption value are the same, which means that in the year 20, if you need more or want politics, you can cash in with a full refund of your premiums or continue to pay the premiums, keep the benefit of the death and more cash value for future use.

These are only two options for you to consider. There are many others that your agent or financial advisor can offer you. Call them today for more information.

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Do not let the future of your small business at risk

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Do not let the future of your small business at risk -

Adam and Bob were best friends since high school. They shared an apartment in the university, specialized in the same field, and even went to work for the same company. When they were in their mid 30's they came up with a great idea for a product that would become very popular and the two decided to come out with their own business. They decided to form a partnership with each owning 50%. The company soon began to prosper.
Two weeks after his 47th birthday, Adam apparently healthy suffered a massive heart attack and died. At his death, Adam's ownership in the company was transferred to his wife, Cathy. Having known Bob for many years, Cathy has left the company's control for himself and the company continued to prosper.

Two years later, Cathy met Donald and after a whirlwind romance the two were married. Donald became very interested in the stock in the late husband of Cathy business. Finally, it would start to have ideas about how society could be better managed. Although he had no experience to support his ideas, be a good wife, Cathy would make these suggestions to Bob. The relationship between the partners started suffering from this tension.
Shortly after the third anniversary of Donald and Cathy, Cathy was diagnosed with cancer and soon she too died. As many, Cathy had failed to properly plan its future and under community property laws transferred his property to Donald to his death. Donald was now owns 50% of the company with equal authority in the way the company was run.

Bob Donald and rarely agree on the operation of the company and although years of experience and knowledge were far superior to Donald, Bob was unable to override Donald's ideas . Time spent on these disagreements, dissatisfied customers and installation costs would all prove too much for the company and on the 20th anniversary of Adam and Bob opening the doors of the company, they would be closed for good as the owners declared bankruptcy.

A simple solution

A very simple strategy, but often overlooked would have prevented this unfortunate end to the already happy story. A repurchase agreement is a legally binding clause in a partnership agreement that controls what happens if one of the spouses dies or has to leave the partnership otherwise.

Typically, the agreement sets a price and give the surviving partner the option to purchase from the deceased estate of their partner. In the story above, this would have left Bob just buy the participation of Adam, enabling it to maintain full control of the company and to avoid other problems.

This strategy is reflected in difficulty at the time of death of the partner if the surviving partner does not have sufficient funds to make the purchase. Keyperson life insurance helps to solve this problem. With this product, the company purchases a life insurance policy equal to the agreement on the purchase price on the life of each partner with the other partner listed as the beneficiary. The provision of insurance death is then used to pay succession and transfer of ownership of the deceased partner.

With the company listed as the owner of the policy, they are treated as assets and business premiums of eligible business expenses. This allows partners to successfully plan for the future of the business while benefiting from valuable tax benefits as well.

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Are you part of the 98%?

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Are you part of the 98%? -According to a survey by Nationwide Financial, almost no consumers who are married, partnership or dependents have enough life insurance to replace their income. The survey showed that 98% of consumers surveyed did not have enough insurance to replace their lifetime income.The average consumer respondents earn $ 1.5 million in life and $ 300,000 in coverage for life insurance. This would replace 16% they will win before retirement, although 33% of respondents said their most important factor when buying life insurance replaced their income.The survey found that consumers are willing to pay $ 99 month average for their family. For that amount, 35 healthy man can buy a 20-year long-term policy life worth more than $ 2.3 million, and 35, a healthy woman can purchase more than $ 2.6 million life insurance, but only 29% of respondents believed they could afford enough life insurance to replace their income.two-thirds of those with life insurance are Äúsomewhat at or Äúvery certain at they have adequate insurance replace the income they or their spouse or partner would do for the rest of their career. However, when asked how long their family could maintain its living standards if a breadwinner died, 62% say they either don, AOT know, or think they could do it for only four years or less.And while 35% of respondents worked with an insurance agent or financial advisor to understand how the life insurance coverage they need, 20% say simply guessed how much coverage they need.If you are not sure of the proper amount of life insurance for you, use the easy life insurance needs calculator to determine what is appropriate for you. Life Insurance Awareness It, AOS Month, Aia high time to make sure you have enough coverage.

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Don, AOT Name Your special needs child as the beneficiary of your life insurance

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Don, AOT Name Your special needs child as the beneficiary of your life insurance -Even if you think you, Aore do the right thing if you name your child with special needs special (or grandchildren, siblings, etc.) as the beneficiary of your life insurance, you may be doing the wrong thing. Here, AOS why. Under current federal law, a person with more than $ 2,000 in assets is disqualified for most needs-based government benefits. state assistance programs may also be based on need. If your child should receive an inheritance from you directly, including the proceeds of a life insurance policy, it, AOS highly probable that the inheritance would disqualify the child to receive necessary benefits. Do not leave them directly to the child.Instead, create a trust with special needs and leave the assets to the trust. Confidence special needs will provide financial assets for future care child, AOS disabled and welfare while maintaining eligibility child, AOS for government benefits. Trust is managed by a trustee, who can then use the trust property in the name of child, OSA.In a special-needs trust well structured, the trust holds title to the benefit of the disabled child or adult. The assets of the trust special needs can then be used to meet the needs of the disabled, as well as complement the benefits received from government assistance programs. For example, the assets of the trust can be used to:
  • transport, including the purchase of a vehicle
  • training, rehabilitation or education
  • equipment
  • , the dental and medical eye
  • entertainment
  • insurance premiums
  • health aid spending companion / home
  • products to improve the quality of life / self-esteem
a trust special needs may hold cash, and the title of shares, bonds, mutual funds, real estate and personal property. In addition, it may have and / or be the beneficiary of life insurance policies, one of the cheapest ways to fund a trust with special needs. Another use for special needs trust is to receive funds from personal injury settlements without jeopardizing eligibility for government benefits.To maintain eligibility for government benefits, it, AOS significant that well-meaning family members, such as grandparents, understand that their will should bequeath assets to the trust special needs and not directly to the disabled person.Keep in mind that trusted special needs requirements are strict, so it, AOS significant that you work with financial experts and qualified legal when establishing a trust with special needs .

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A Wake Up Call on College Financing

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A Wake Up Call on College Financing -A child born in 2013 who begins kindergarten in the fall of 2018 would go to the university between the years 2031 and 2035. If the child attends an average private four-year college, and if annual price increases for private colleges have experienced during the last 30 years (5.7% per year) continues in the future, the cost of four years overall the college education of the child (including tuition, fees, room and board) would total $ 483,238 or $ 0.810 per yearthe first question is :. Are you saving enough to pay for it? The second question is how will your family pay for it if you die prematurely and have not accumulated funds?The first question depends mainly on your cash flow and investment acumen. The second can be solved with the purchase of life insurance. The cost of the premium will be pennies on the dollar. The cost of not doing this may be a child who is unable to go to college or has incredible financial struggles to do so. Shane's story is a stark reminder. 

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Help Change Lives-

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Help Change Lives- -
Submit your storySummer, 22, was going to be a mom for the first time. Each month, she would go into the office of his insurance agent to pay the premium on his car insurance, and during one of these visits his agent, Christie Trahan, asked him to get a life insurance coverage as well . Summer said she thinks about it, because she was a student living on his own, making it a paycheck as a waitress.After asking over several months, Christie said she needed to ask was the last time: "Are you sure you do not want to buy the life insurance" for $ 12 month, Christie said that this policy was affordable, even for a working student and mom-to-be. Been agreed, saying she knew it was the right thing to do, even if his mother had advised him to wait.As you can see, a policy that costs only $ 12, a month can change lives, making the future better for a child or family, despite the tragedy of a parent dying.It is stories like these-realLIFEstories-that help us understand what insurance really not and why we need to take action now to get the cover of assurance that we have to protect our loved ones financially. That's why every year the demand LIFE Insurance Agents Foundation and advisers to submit stories of their own to realLIFEstories Customer Service of the LIFE Foundation Recognition Program, which demonstrate how insurance they helped a family set instead made a difference in a time of need.If you or your family have received life, disability and long term care insurance and would like to share your story with the American public, send this link along to your agent, because they will fill out the application: If you are an agent or advisor read this blog, click the link above and submit your history to the LIFE Foundation.The stories change lives-it was not the time to be a part of it?

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Do you really live a legacy?

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Do you really live a legacy? -

According to the global survey from HSBC Future of Retirement, many people of working age in the United States and around the world hoping to live off an inheritance after leaving the workforce. The question is, how long can you live on the amount you can receive?

HSBC found that nearly three in four (72%) of those who expect an inheritance say they plan to use to fund their retirement to some extent, and 10% think it will finance retire completely.

In the US, more than three in four (76%) believe it is all finance (10%) or some (66%) retire, but the probability of inheritance varies depending on the country.

people in developing countries have a greater chance of receiving a legacy that people in the United States and most other developed countries, the study found. Most retirees in India (86%), Mexico (84%), Malaysia (78%) and Brazil (71%) expect to leave their families a legacy, while in the United States a just over half (56%) are planning to do so.

The amounts of inheritance, however, are more modest in developing countries, ranging from an average of $ 39,000 to $ 132,000 in Malaysia to Brazil. In the US, on average expected inheritances $ 177,000, while in Australia, 69% of retirees are planning to leave their heirs $ 502,000.

Worldwide, nearly seven in 10 retirees (69%) expect to leave an average of $ 148,000 to their family members, according to the results.

While many Americans expect to leave a legacy, there are many variables that can prevent this happening. Older people often face unexpected obstacles and may need the money themselves to fund other things such as medical and nursing care in later life, and an increase in life expectancy, they can survive their income.

So back to the question: How long can you live on the amount you can receive? What if you receive very little or nothing and have limited or no savings of your own?

The time has come to take personal responsibility for your financial retirement planning to ensure sufficient income for retirement that could last 25 years. Call your agent or advisor today to start your planning.

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Milk, laundry detergent and life insurance?

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Milk, laundry detergent and life insurance? -

When you walk through the aisles of Wal-Mart, you can quickly fill a basket with essentials like laundry detergent, socks, peanut butter, light bulbs and life insurance. Yes, life insurance.

Beginning late last year, MetLife has started offering life insurance policies Prepaid 0 Wal-Mart stores in Georgia and South Carolina, as part of a pilot program.

Numbers can carry on now. Nearly one in five consumers (17%) say they would be willing to buy a life insurance coverage directly from a store, according to the just released study results of the 2013 Barometer Insurance conducted by LIMRA and the LIFE Foundation. The reasons they give meaning: The majority of those who said they would consider buying a life insurance policy to a big- box retailer quote a reasonable cost (63%), while benefits like a simple buying process (44%) and convenience (43%) also ranked highly.

The truth is that, although many people say they would drop a life insurance policy in their cart while shopping, it is a new concept that has not been tested. The study Barometer showed that most people still prefer to buy face-to-face to ask Agent, to understand the nuances of the product, to obtain a life insurance plan adapted to their needs accurate.

That said, we also know that many people procrastinate obtain life insurance. The study showed that although the vast majority of consumers (85%) agree that most people need life insurance and 65% say they personally need, only 62% indicated that they have life insurance coverage. Some consider the road to life insurance ownership as a complicated process. But if the first step in life insurance ownership for these procrastinators could occur at the same time they buy milk?

People often joke they walk into a store like Target for some window cleaner and walk about an hour later, after spending $ 300 on a basket full of things they did not know they needed. And if in one of these bags, as well as shampoo and diapers, there was a financial protection for your family? An interesting idea.

Let us know what you think. Would you buy your life insurance from a big box store and why?

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1,475,003 and Counting

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1,475,003 and Counting -

1475003. It is the number of Americans who have experienced a disabling injury or illness so far this year is just January 1 to April 30. That's an impressive number.

Imagine if this number you included, and you weren 't able to return to work tomorrow to earn your salary. What would happen? Would you still be able to pay your bills? If so, for how long? If not, what is your plan?

If you are worried about this, you are not alone. The results of the study Barometer 2013 assurances, led by LIFE and LIMRA show that six out of 10 people are concerned about being able to support themselves financially if they were unable to work. Incredibly, only 50 percent of Americans say they personally need to work Disability Insurance

The truth is :. If you work and rely on your paycheck, you should have a backup plan. This plan is disability insurance. It provides you an income if you are unable to work due to an accident or illness. Nothing else does. Health insurance can cover your doctor or hospital bills, but paying your mortgage, rent, food and bills? If you type in your savings or retirement money to meet those bills, how does money get replenished?

Disability insurance provides an income until you can return to work. Feel free to use for this easy calculator disability insurance needs to know how much coverage you might need. Then talk to your HR department at work or an agent in your community that can help you better understand the importance of disability insurance in your financial plan. May is awareness of disability insurance Month-the perfect time to do it.

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The reality of the "new" retirement

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The reality of the "new" retirement -

Are you ready to face retirement? According to a recent study by Merrill Lynch, "Americans on new retirement realities Outlook and longevity bonus," most of the baby boomers prefer peace of mind over the accumulation of wealth and seek to reinvent itself retirement.

The Merrill Lynch survey found that today's retirees expect to live longer and work longer than previous generations, and seek advice in this is uncharted territory.

Thirty-nine percent of survey should include the part-time work in their retirement years, and 24% for mixing stretches of work with periods of recreation. Forty-eight percent said they would work to just retreat

Fifty-two percent of people in the survey should provide their adult children with some form of ongoing support "and stimulation Satisfaction."; 35% of respondents would give support to their grandchildren, 16% to a parent or parent-in-law and 10% to a brother or brother-in-law.

Asked what was important to pass on to future generations, 74% of respondents said their top priorities were the values ​​and life lessons. Passing on the financial and real estate assets was a priority for 32%.

serious health problems have been a major concern for 72% of respondents, with 60% saying they do not want to burden their families, while 47% were worried about running out of money to live comfortably. At the same time, health care costs were financial worries 1 for retirement for 52% of respondents with investable assets above $ 250,000 and 37% of the poorest respondents.

A popular belief is that people today are delaying retirement, but the survey found that 59% of men and 57% of women had taken early retirement. For those who took early retirement, 34% said the main reason was a personal health problem, 27% for early retirement because they had enough money to retire, and 24% had lost their jobs .

An interesting finding is that only a third of large companies now offer health benefits to retirees over two thirds 25 years ago. As a result, retirees seeking advice on how to protect against retirement health costs, with 75% of respondents say they need help in sorting in health care and long term care options. Just behind, 71% wanted help to understand the social security or employer pension.

So, let's put it all in perspective. What the survey points out that pre- and post-retirees still need professional advice to make appropriate decisions. Before age 65, this means understanding the disability insurance needs, life insurance and assurance of long-term care.

After 65 years, most disability insurance is no longer available, but the need for life insurance to replace lost income continues, as the need to plan healthcare for diseases debilitating disease that may require care at home or in a facility.

Some 10,000 people a day reach the age of 65 and that number will continue the next 17 years. Many of these people will risk the longevity risk of outliving their money. Now is the time to plan using appropriate methods and products to minimize this risk.

Talk to your agent or professional advisor today.

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