Insurance Admin

Property Taxes Finalized? Not really. -

Congress finally resolved the issue of property taxes last month. Really? No, they put on another temporary patch for the next two years.

What does this mean for you? If your property is valued at $ 10 million or less and you are married, you might be able to spend your entire estate to your heirs without federal estate tax ($ 5 million exemption x 2). Anything over $ 10 million will be taxed at 35 percent. These figures are for 2011 and 2012 only. After that, there is no certainty that the tax rate will be because the current solution only lasts two years.

Customers are still confused. How do they make long term planning decisions when only short-term solutions are available? What if they have a life insurance for purposes of property tax, but no longer feel it is necessary for the exemption of $ 5 million? What if clients complete insurance and now find they need at a later date because, once again, changing tax laws?

This presents a number of problems. The insurance can be more expensive to buy later because of age or increased medical problems. It may not be possible if the medical condition of the person is severe. political outlook could change and not be as attractive or flexible.

The solution? Keep the current life insurance for two at least the next few years, even if it is necessary based on the 2011 tax rate and 2012. Life insurance is all about safety, security and guarantees. Here's what customers need in their planning, to maintain the current insurance until we see what 2013 brings. Then, hopefully, long-term decisions can be made.

Real Life -

One of the best things that the Foundation Life offers, in my opinion, is his realLIFEstories. These are not advertisements or commercials; do not use actors pretend to be someone else; they do not reflect an idealized situation. Instead, carefully realLIFEstories often tell heartbreaking stories of how people's lives, and the lives of their families, have been affected by death, disability or illness, and how insurance helped them see their way through these difficult times.

A recent video stays with me. John Butcher lost his wife and 6 Tre her mother when she collapsed and died one evening from an undiagnosed heart condition. It was a line that John said a line that hit home to me very simple: "The next day Kara died, I went to Tre dress but realized I did not know where any of her clothes were. Kara took care of it. "this, very ordinary daily event reveled the magnitude of change that would take place in their home.

Kara had purchased life insurance at work, and it was that life insurance that allowed John and Tre move through their grief and change that was their face without having to worry about money and make ends meet.

These powerful stories to help others understand what insurance really.

Those agents and advisors who read this blog may have stories of their own to realLIFEstories customer service LIFE Awards Program that demonstrate how insurance they helped purchase family has made a difference in a time of need. For more information, click here.

If the agent, advisor or "profane" like me, take a moment to watch the story of John here and think about how it could translate into your own life.

Women, money and power

- women, money and power. Is the title of a recent article by Aimee Johnson, who is responsible for the women's program for Allianz Life. According to Johnson, the women's market is still considered by some as a niche market, but it continues to set the record straight.

Nearly a third of women serve as sole or main breadwinner of the household, according to a 09 report on women in the workforce by the US Bureau of Labor Statistics. A more recent study of women and society also notes that 66 percent of wealthy women refer to themselves as the chief financial officer (CFO) of their family. Women also control 60 percent of the wealth in the United States and are involved in 0 percent of family financial decisions.

In other words, the market for women is important. What is equally important is that women are still not receiving the attention they deserve from the financial services sector, while gentlemen, pay attention. LIFE Foundation hopes to change this lack of attention.

The 07 Allianz Women, Money and Power study indicated that only 29 percent of women working with a financial professional. The study found that this was mainly due to a lack of comfort and trust with financial planning, despite the fact that these women are well educated, have successful careers and are managing their daily finances household.

So she asks where is the disconnect?

a main issue is that the financial services sector approaches the female market as a group with constant needs, but just like the men's market, they have many different life stages and financial needs.

The Allianz study found that divorce or widowhood plunged nearly half of all women in the financial crisis or pushing a major change in how they seek financial advice. The average age of widowhood is 58 and just over 44 percent of women over 65 are widowed, as nearly 10 percent of women aged 55-64 (Office of the US Census, 05-07 American Community Survey).

Some of the common challenges faced by widows set include real estate assets and re-titling; change the beneficiary designations on insurance and retirement accounts; establishing a new proxy, by examining the income requirements, and changing the tax status.

Although the initial conversation may need to focus on more immediate issues, such as credit card debt and the development of a new budget, a thorough review debate should occur approximately three areas -. insurance, social security and pensions, including ongoing contributions and distributions from qualified plans

Johnson then highlights specific concerns for insurance needs, social security and retirement. These points are too many to discuss in this short blog, but suffice it to say that women need professional advice to work in these areas.

This year, the Foundation LIFE focus our resources on the market and needs of women. We change our awareness campaigns to ensure we reach out to women in the age group 25 to 50 years, as well as traditional markets. Visit our website during the year for updates.

Single Parents and Life Insurance -


Genworth Financial has just published a study finding that too many Americans who need life insurance coverage are uninsured, putting their families and futures at risk. According to the study of life jackets Genworth Financial 2011, lone parents at all income levels with children living at home have less insurance for their needs, which could leave their children with little or no options facing an unexpected death. Hear the story of Tracy Basden if you want to see what happens to children in these situations.
The research project found that 69% of single parents with children living at home is the highest percentage of uninsured Americans compared to married parents with children at home (45%) .
The Genworth study also found that only 49% of the adult population of the United States has some type of life insurance coverage. Single people, regardless of whether or not they have children, are 36% below the national level to cover life insurance, according to the study.
According to the survey, single male parents with children living in the household are more assured that single women at all levels of income. Again, Tracy's story is a poignant example of this.
Other findings.

79% of single men who are not homeowners, having children in the household and earning less than $ 50,000 per year are not insured, against 66% of women in the same category.
percentages do not fall dramatically as income increases. In fact, 79% of single men who are not homeowners having children in the manufacture of household between $ 50.000 to 250.000 per year are uninsured.
More than half (56%) of single women who are not homeowners having children in the household but making more than $ 250,000 are uninsured.
the level of uninsured households tends to increase as the number of children increases, particularly at lower income levels. The percentage increases considerably in the case of five or more children.
The study said that the insurance industry has the opportunity to better educate consumers and give them the tools and resources to help themselves and their families to protect. Sounds like they are talking about the LIFE Foundation. This is exactly what we do :. Educate consumers about what the life and health insurance products are, not just what they are, and encourage them to make the decision themselves and protect their families

Can you wait 0 days to replace (part of) your Paycheck? -


The most recent government statistics (09) for the program (SSDI) Social Security Disability Insurance.

• disability benefits were paid to nearly 9 million people.
• average monthly benefit received was $ 1064.30.
• benefits were terminated for 630.074 disabilities.
• workers accounted for the largest share of disabled beneficiaries (87 percent).
• The average age of a beneficiary was about 53.
• men accounted for nearly 53% of the beneficiaries.
• a mental disorder was the diagnosis for about a third of the beneficiaries.

that these figures do not tell you is that according to the administration of social security, about 65 percent of those who apply for disability insurance through security social are discarded, and the backlog of social security disability is so great in some areas of the country that the average wait for a hearing in certain states is nearly two years (0 days).
the National Security Council in 04, a disabling injury occurs every two seconds in America, and Health Affairs reported that illnesses and injuries cause unexpected failures 350,000 per year. According to the Health Insurance Association of America, one in seven workers will be disabled for five years or more during their time in the workforce, and in 05, half of the foreclosures were caused by a deficiency due an unexpected injury or illness.
Yes, SSDI is a great program, but if you become disabled, you qualify, and if so, how long will it take before you start receiving benefits? What will you do for income while you wait to see if you receive SSDI? How long can you go without a paycheck before experiencing financial problems?
May is Disability Insurance Awareness Month the time to protect your paycheck. You have insurance to protect your home, your car, your boat and your bike, but do you have insurance to protect your paycheck? Go to www.protectyourpaycheck.org for more.

Pop Quiz See how you do! -


The LIFE Foundation "This Moment made possible by My Paycheck" photo competition made me think of all those great moments of my own experience, and how our salaries and our ability to earn a significant income are each of us and our families. In this spirit, I offer this "quiz" that CIGNA developed to help people assess and strengthen their awareness of disability insurance.
1. True or False: People who work do not need disability insurance because they are covered by insurance for workplace accidents.
Answer: False. Insurance of accidents only covers injuries or illnesses acquired at work, while the majority of accidents and illnesses are not work-related, according to the National Security Council.
2. True or False: People who work can completely rely on their accumulated sick leave if they miss work because of illness or injury.
Answer: False. An absence related to disability can last much longer than the sick leave credits of an individual. Disabilities are not necessarily catastrophic events, but may vary from broken bones, pregnancy, surgery, treatment of a disease, etc. The recovery time is unique to each situation.
3. True or False: Most people have enough savings to cover their living expenses if they can not work because of a disability.
Answer: False. Disabilities can last for months or years, and many people are not saved enough to cover living expenses for long.
4. True or False: short-term disability covers a portion of the salary of an individual for a year.
Answer: False. Short-term disability insurance generally covers children up to about six months, while long-term disability insurance provides coverage for longer periods.
5. True or False: People who work do not need disability insurance as they have medical insurance.
Answer: False. Medical insurance offers protection for covered medical expenses, but will not replace the income is needed to pay a mortgage, car payment or other household bills.
If you got three or more right answers, good for you! But no matter how you did on the quiz, there is much more you can learn about disability insurance. The LIFE Foundation offers many great resources to www.protectyourpaycheck.org.
Although the value of having disability insurance can not be overstated, it is also important to be aware of programs that can help prevent disability.
Use your Employee Assistance Program (EAP). Many employers offer an EAP that can help people cope with stress, depression, addiction and work / life balance. Many disability absences are related to behavioral health problems such as these, so that the EAP can play a crucial role in helping people to stay healthy and avoid a lack of disability. EAPs are free to the employee and completely confidential.
Stay well and minimize health risks. Many employers offer programs to help you quit smoking, lose weight, eat better, sleep better, manage stress or get more physical activity. As a program of employee assistance, these health programs and wellness are generally free to the employee; so if you have them, use them.
Managing a chronic illness. programs that help people manage chronic diseases such as asthma, diabetes or heart disease are also important because they can help prevent chronic disease leading to disability. CIGNA A study shows that people who enrolled in a chronic care program and was a handicap missed nearly four days less than those with a chronic illness who has not participated in a program.
Be sure to take a moment during Disability Insurance Awareness Month in May to learn about this important coverage. This could be the most important thing you do for your financial security and well-being.
Dr. Anfield is Chief of the disability business of CIGNA. Make sure you listen to his podcast "Thinking the future :. How to Protect Your Paycheck "

Bull, Bear or Bewildered? -


As we look at the economy, we realize now, there are more than the bullish and bearish investors. There are bulls, bears and bewildered. MetLife says there are actually 10 types of investors. Here is their list: ..

1. snoozers - People who do not think about the future risk of all
2. assets Resisters - People who choose to ignore the risk information future
3. Anxious fixed - Those who can understand future risks but whose anxiety prevents them from taking action
4. Oversleepers -. Those who can consider their time to act as
5. Wood Knockers "come and gone.." - "Work on" They choose optimism, and hope that things will
6. Plan B-ers - people who have a contingency plan, but the plan B can be a "plan" that the name
7. Realistic -.. investors who use past experience to think about the future
8. Stewers and Brewers -. Stewers stories and fret while Brewers play with ideas and planning strategies
9. conciliators - Those who think today and tomorrow and balance their current needs against future risks
10. preemption Planners - .. investors looking to anticipate future risks and their consequences

Where are you on this list not be a Snoozer, Brewer or Stewer or any other of those on the list that are not in action. Talk to your agent / advisor today and become a preemptive scheduler.

Americans optimistic about their personal finances -


A recent study of The Hartford found that Americans are optimistic about their personal finances and saving for retirement. The study shows increased participation in 401 (k) s and other defined contribution plans, especially among baby boomers, Generation X and men. More Americans say they are confident that their personal finances will improve over the next 12 months, and this trend is reflected in more people saving for retirement.
The Hartford found that participation in 401 (k) s and other defined contribution pension plans by employed adults rose to 76% overall in 2011, up 71% in 2010 and up 63% from two years ago. Three groups showed the biggest gains:

• participation-boomers closest to retirement increased to 79%, against 71% in 2010 and 63% in 09.
• 77% of generation X or 32-46 years contributed to their employer pension plan in 2011, an increase of 71% in 2010 and 67% in 09
• participation men jumped to 81%, against 71% last year and 66% two years ago.

The only disappointment in the conclusions was that the participation of young workers 19-31 years showed a slight decrease, and the participation of women is generally flat. September 10 women contributed to their employer's retirement plan, unchanged from the previous year when women showed greater improvement than men. Participation in retirement plans amongst Gen Y declined 2%.
Overall, most Americans were surprisingly optimistic about their financial future. Asked about the next 12 months, 34% of survey respondents said they were "extremely" or "very confident" that their lives would be improved. Those expressing optimism cited expected improvements in personal finances:

• 53% of said debt reduction and increased savings were part of their financial goals
• 52% said they were "extremely" or "very" confident their personal finances continue to improve
• 42% said their financial future was their main goal.

the search for the Hartford also found that Americans feel better about their lives and 26% said they "live comfortably" in 2011, a 9% increase in 2010. Nearly half of all respondents (48%) said they "meet my expenses with a little left over for extras."
If you are in one of these groups, perhaps the moment has come to reach out to an agent or a consultant to financial guidance necessary to make financial decisions appropriate long-term.

4 reasons not to count on (Broken) Government Program -


What you happen financially if you were injured or became ill and were unable to work? Your answer might be, "Well, there is a disability program of the government. I'm not really sure what it was called, but I know he is there as a backup if I need. "
Are you sure?
First, we will cross the compensation of the list of workers. This government program only covers you if you are injured or ill as a result of your work. According to the National safety Council, 0% of disabilities occur outside of the workplace, so chances are you will not be covered by the Comp of workers.
Next, examine the program social security disability insurance, which pays disability benefits independent of where the disability occurs.
"Great!" you say. "that's what I'm going to press."
Not so fast.
Did you know that the social security disability insurance program is about to go bankrupt? as reported in this article insurancenewsnet "the dismissed workers and of aging baby boomers are flooding the disability program of social security with applications for benefits, pushing the cash-strapped system to the brink of bankruptcy. " According to congressional estimates, the money in the program is due to short in six years
Section continues to underline a second reason why you should not rely on this program :. "The rush of benefits is adding to a growing backlog of applicants-many wait two years or more before their cases are resolved." (You can read more about my position in disability insurance Month awareness in May.)
now, a third reason to reconsider rely on the government. The federal government defines a disability very narrowly as "unable to perform substantial gainful activity because of a medically determinable physical or mental impairment which can be expected to result in death or has lasted or can be expected to last for a continuous period of not less than 12 months. "There are no benefits for short-term disability or partial disability.
and finally, if you were to qualify, the average benefit hovers around $ 1,000. This gives you a" . pay "annual which is below the poverty line
This should make you rethink your strategy to protect your paycheck in the case of a disability Just ask yourself this. How long pourrais- I go without a paycheck before experiencing financial problems? Then take the next step to learn more about disability insurance.

My Embarrassing Admission -

I have an admission really, really embarrassing to do: Jon and I have no real life or disability insurance. I mean, we have a bit-basically what I'm able to access through my employer, which I think is equal to one or two my salary, but nothing more than that.
Nothing to pay our mortgage.
Nothing to heal or educate our children if one or both of us are not able or around to.
Nothing to pay for long term care if one of us takes full hospitalization time or nursing home after an illness or accident.
Nothing.
and I know how awful that is. I really, really do. I do not make excuses. I am fully aware of the serious consequences that would follow if I were to die or become disabled before fixing this problem. That's why this blog is the first time I admitted this incredibly irresponsible thing about myself to anyone-because I know how it is, and I was really mortified by my inability to take care of business . But one thing I've discovered in recent years is that if I'm too embarrassed to say anything out loud, it is quite likely that many other people are in the same boat. Maybe you are one of them. That's why I decided to come clean and share my plan to finally address this serious situation risky in which I left you to finish our family.
So how have I-40 something married mother of five, the main professional support to our family, myself without owner-find enough life or disability insurance? Well, I'll tell you how. Back in my 20s when my older children were babies and small children, I kept putting it off. For starters, the money was really tight at the time, and a healthy 27, the idea of ​​dying or becoming severely disabled seemed so unlikely that even if I continued to talk about how I had to know how buy the right insurance, I just never did. Even then, I knew in the back of my mind that I was taking a big risk, but some other charges seemed always come first. "I'll take care of that later," I thought.
But "later" just never seemed to happen. Even when I hit my 30s and really learned that I really need to take care of this important responsibility, it seemed so confused. I found myself overwhelmed and intimidated by trying to understand the whole of life insurance "thing." Everyone I asked about the subject of insurance seemed to have a different recommendation. The options were confused, and left me paralyzed with indecision. So I kept putting it off.
At one point, a friend did not recommend his insurance agent. She assured me that he would explain the life insurance options in a way that I can understand and help me walk through the types and brands of countless political and confused, and find me the best price. Instead, however, that particular agent was uncomfortable persistent, and since I already felt very intimidated by this task now much delayed buying the life insurance and disability law, his style, which have aggressively could be good for some customers, but ended up being the bad match for me, given me yet another excuse to turn and run the other way. I stopped answering the phone and deleted voice messages.
And another year passed without me locate and purchase insurance, I was now painfully aware that I had. And another ... and another ... and then, at some point, the fact that I did not have enough insurance has become its own stumbling block; I was embarrassed to take the phone and call an agent, knowing that I have to 'fess up to what I had put this off for so long. I worried that I would be judged, so it gave me yet another (bad) justification to continue to avoid my responsibility in the matter.
But now I know that the time has come. I can not hide it for another year, and I know that. This knowledge that I have to stop avoiding the issue has weighed very, very heavily on my mind lately, so it was rather fortuitous when the LIFE Foundation asked me if I wanted to blog about my personal experience as a parent with the most important type of insurance thing I have to take care of on behalf of the family, I love the family that depends on me. I'm not sure that the LIFE Foundation realized when they reached me they would get as a naked soul of admission, but I decided that I go ahead and tell the truth on my own inability to care. this critical financial planning necessary in the hope that others might be able to link
So let me introduce myself: Hello. My name is Katie and I am an adult and a parent who does not have enough life or disability insurance. I guess some of you and probably some of you may be in the same boat. But starting today, Jon and I will be using online planning tools decidedly non-intimidating (and free) to LifeHappens.org to understand what the heck we need, and how much, and that it will cost. And armed with that knowledge for the first time (!!!), we will actually talk to an agent-whose style is a good match for us to know how to proceed to the second step in the process of protection people we love the most.
course, I have done much earlier, but with something this important, what I do is important now more than I do not have it then. I know, and for any of you who may be in the same place, I wish to "come clean" myself, you may be inspired to take that first step for yourselves and your families as well.