Posts Tagged ‘life insurance’

September 11th–Proud to Be Part of the Life Insurance Industry

By Jamie Fleischner, CLU, ChFC, LUTCF
President, Set for Life Insurance

Every September 11th we pause to reflect on this horrific day in our nation’s history. Each of us has a story and remember vividly where we were at the moment the first plane struck the World Trade Center in NY.

On that fateful morning, I was attending a national meeting for NAIFA (National Association of Insurance and Financial Advisors) in Salt Lake City, UT.  I woke up early while preparing to attend an early breakfast meeting when I turned on the TV. After my initial shock, I called my husband and other family members.

Soon thereafter I walked into the convention center and joined the rest of the association members as we embraced the moment.  All 4000 of us took our seats in the main ballroom sitting with the others from our states and together we sang “America the Beautiful.” There was not a dry eye in the entire room. We were all Americans representing all 50 states all felt the gravity of the moment. We were all in the life insurance industry and had spent countless hours discussing the “what ifs” with our clients to prepare financial for moments like this.

I realized at this time we were not just association members and competitors in our industry. We were a part of an industry that could make a real difference for the victim’s families. I looked over at the group from New York and many of these people had offices in the twin towers. A large number of them had clients in the buildings and were wondering how many death claim checks they would deliver to surviving family members.

At that moment and to this day I feel proud knowing that I work in an industry that can have a great impact on peoples’ lives when tragedy strikes. It is empowering knowing that if or when tragedy strikes again for one of my clients, I will be there and reassuring them that their family can continue on because of the power of life insurance.

Fore more information about life insurance or to request a quote, please contact the Set for Life Insurance office today.

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September is Life Insurance Awareness Month LIAM

Life insurance can do some pretty amazing things for people. It can buy loved ones time to grieve. It can pay off debts and loans, providing surviving family members with the chance to move on with a clean slate. It can keep families in their homes and pre-fund a child’s college education. It can keep a family business in the family. It can provide a stream of income for a family to live on for a period of time. Life insurance can do all of these wonderful things for your family…there’s just one small catch. You need to own life insurance.

There’s a growing crisis of too many Americans not having adequate life insurance protection. According to the industry research group LIMRA, 30 percent of US households have no life insurance whatsoever. Today there are 11 million fewer American households covered by life insurance compared with six years ago. Here’s the bottom line: A majority of families either have no life insurance or not enough, leaving them one accident or terminal illness away from a financial catastrophe for their loved ones.

What if you were suddenly gone and your family had to manage on their own? When was the last time you did the math to make sure your loved ones would be OK financially? Have you checked with your employer to find out what kind of life insurance benefit you have.

For more information about life insurance or to request a quote, contact Set for Life Insurance today!

 

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Life Insurance: Do it for Love or Do It for Money

By Marvin H. Feldman

Agent’s Sales Journal Published 6/6/2011   

A friend of mine who has a contract with Prudential recently sent me an ad he had received from them.  It was actually pretty good.  Directed toward agents rather than consumers, it listed thirty uses of life insurance and their respective support pieces for the agent’s use.  But the list of what life insurance can be used for would make an excellent one-page handout for our clients. So, here it is. (more…)

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Avoiding Taxes on Life and Disability Insurance–WSJ

By CRISTINA LOUROSA-RICARDO, Wall Street Journal

Having enough life and disability insurance should be a key element of your personal financial game plan.

Hopefully, with some advance planning, you can collect life and disability insurance proceeds free of taxes. Here’s how.

Life Insurance: The main reason most people have life insurance is to replace income that would be lost if they die prematurely. Life-insurance death benefit payments can generally be received by beneficiaries free of any federal income tax (and usually free of state income tax, too). (more…)

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Life and Disability Insurance for Parents

As a parent, it seems like the responsibilities are endless.  For your children, their well-being is dependent on your circumstances and the decisions you make. Therefore, is important to consider what would happen to your family if you were no longer able to provide for them financially.

For life insurance, the rule of thumb is 12-14 times your income is needed in death benefit to replace the economic loss. To determine the amount needed, you need to calculate both lump sum benefits needed (mortgage paid off, college accounts funded and final expenses ) as well as the monthly amount the household needs if you are no longer here.

Stay at home parents provide an economic benefit even if they don’t bring home a pay check. Consider what would happen to the family if the stay at home parent were to die prematurely.  How much would it cost to provide childcare? Would you need full time help?

In addition to life insurance, it is important to consider protecting your income if you become too sick or injured to work.  Determine on an after tax basis how much income your household would need to maintain itself if the income stopped.

For more information about life and disability insurance for parents contact the Set for Life Insurance office or request a quote today.

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