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Protection
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Protection

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  • 1. Benjamin Rich Financial Advisor   A9JC-0608-17 Protection
  • 2.
    • Everyone needs it
    • Most are concerned about having enough to
    • - Maintain lifestyle
    • - Protect the ones we love
    Money:
  • 3.
    • The Necessities
    • - Food, Shelter, and Clothing
    • The “Nice-To-Haves”
    • - Vacations, Education, Retirement
    • And Much More…
    Money Pays For:
  • 4.
    • 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?
  • 5.
    • 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
  • 6.
    • 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?
  • 7.
    • 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:
  • 8.
    • 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:
  • 9.
    • 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:
  • 10. Other sources of income are important, but will probably not be enough to maintain your family’s standard of living.
  • 11.
    • 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:
  • 12.
    • Term Life Insurance
    • Permanent Life Insurance
    • - Whole Life
    • - Universal Life
    • - Variable Universal Life
    • - Survivorship Life
    Types Of Life Insurance:
  • 13.  
  • 14.
    • Think It Won’t Happen To You?
    Disability Insurance:
  • 15.
    • 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?
  • 16.
    • 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?
  • 17.
    • 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:
  • 18.
    • 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:
  • 19.
    • Life Insurance
    • Disability Income
    • The sooner you start planning, the less expensive it will be.
    Do You Have Your Bases Covered?
  • 20.
    • 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…
  • 21. Proper planning today will help you protect yourself, your family and the things that are important to you.
  • 22. 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.

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