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Protection
 

Protection

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    Protection Protection Presentation Transcript

    • Benjamin Rich Financial Advisor   A9JC-0608-17 Protection
      • Everyone needs it
      • Most are concerned about having enough to
      • - Maintain lifestyle
      • - Protect the ones we love
      Money:
      • The Necessities
      • - Food, Shelter, and Clothing
      • The “Nice-To-Haves”
      • - Vacations, Education, Retirement
      • And Much More…
      Money Pays For:
      • It is often recommended that an emergency fund should equal 3 to 6 months’ total income.
      • $114,000 in earning should equal $28,500 to $57,000 in reserves…
      • “ What’s in Your Wallet?”
      Are You Prepared for an Emergency?
      • Protecting what you’ve built– for yourself and for the people who depend on you– in the event of:
      • - A long-term illness
      • - An injury or accident
      • - Premature death
      • Will your current assets be sufficient to cover any unforeseen contingencies?
      The Definition of Protection
      • Mortgage payments
      • College savings
      • Child care
      • Taxes
      • Monthly bills
      • Food and clothing
      • Car payment
      • Retirement savings
      What Will Your Family Have To Give Up To Cover These Unpaid Expenses?
      • Life Insurance– Are you protected?
      • - Life insurance can provide an income tax-free lump sum payment that can be used to settle debts or provide a monthly income stream for your family.
      • Disability Insurance
      • - Disability insurance provides a monthly income to make up for lost wages should an accident, sickness or injury prevent you from working at your regular occupation. Benefits are generally received income tax-free.
      Two Effective and Affordable Answers:
      • Who Need Life Insurance?
      • - Individuals with college loans
      • - Young parents
      • - Families with children who may someday attend college
      • - Homeowners with a mortgage
      • - Parents of children with special needs
      • - High-net-worth individuals who may face estate taxes
      • - Business owners
      • - Anyone who depends on their income to provide for them or their children
      Life Insurance:
      • You May Already Have Life Insurance, But Is It Enough? Think About All Of Your Monthly Obligations, And Which Of These Are Of Concern To You Or Your Family:
      • - Final Expenses
      • - Debt repayment
      • - A Place to Live
      • - Monthly Essentials
      • - Non-Essential Lifestyle Needs
      • - Education
      • - Emergencies & Opportunities
      Life Insurance:
    • Other sources of income are important, but will probably not be enough to maintain your family’s standard of living.
      • Savings & Investments– Will your current savings strategy cover the expenses?
      • Social Security– Usually only provides a benefit to surviving spouses caring for unmarried children under 18, or until he or she turns 60. Even if your family qualifies -- will it be enough?
      • Employee Benefits– Life insurance provided by your employer is usually group term, which does not build cash values and is not portable.
      Other Sources of Income:
      • Term Life Insurance
      • Permanent Life Insurance
      • - Whole Life
      • - Universal Life
      • - Variable Universal Life
      • - Survivorship Life
      Types Of Life Insurance:
    •  
      • Think It Won’t Happen To You?
      Disability Insurance:
      • If You Become Disabled, Here Is What You Could Expect:
      • - Your income will decline or stop, while your expenses and debt increase.
      • - Your savings and investments will be drained.
      • - Your family’s standard of living will drop abruptly.
      • - Your capital accumulation plans will be put on hold.
      • How Well Prepared Are You?
      Disability Insurance– Do You Need It?
      • How much is the monthly benefit payment?
      • When do benefits become payable?
      • How long does the benefit payment last?
      • Do you know how your policy defines “disability”?
      Disability Insurance– Do You Own it?
      • Fixed Living Costs
      • The Nature of Your Work
      • Access To Worker’s Comp
        • - How Much? How Long? When Would It Start?
      • Other Sources of Income
      • Knowing these answers can help you determine the kind of coverage that would be best for you.
      Consider The Basics:
      • Who Will Pay You An Income If You Become Disabled?
      • - Savings Can Be Wiped Out Quickly
      • - Sell Investments : Will you get full value?
      • - Loans : Will you be eligible without income?
      • - Family, Friends, and Charity : Do you even want to consider this?
      • Disability Insurance provides needed income and peace of mind.
      Disability Insurance:
      • Life Insurance
      • Disability Income
      • The sooner you start planning, the less expensive it will be.
      Do You Have Your Bases Covered?
      • It Requires:
      • - Examining your current circumstances
        • - Identifying your goals and objectives
        • - Developing a plan to achieve those goals and objectives
        • - Taking action to implement your plan
        • - Periodically reviewing your plan.
      A Secure Financial Future Doesn’t Happen by Accident…
    • Proper planning today will help you protect yourself, your family and the things that are important to you.
    • This information should not be construed as tax advice applicable to each individual. Please consult a qualified tax advisor regarding your individual circumstances. ©2009 The Penn Mutual Life Insurance Company, Philadelphia, PA 19172. www.pennmutual.com.