Insurance Admin

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.

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.

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.

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 .

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. 

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: www.lifehappens.org/reallifestories-program-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?

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.

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?

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.

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.