Given the hazards of military service, especially deployment to a combat zone, life insurance is an important financial risk reduction tool for many military families. Yet, studies have found that life insurance is not well understood by consumers in general. Many people do not purchase an appropriate amount or type of coverage. This webinar will begin with a basic overview of life insurance including its purpose, types of policies, how to calculate a family's life insurance need, and life insurance resources. It will conclude with a discussion of military life insurance programs such as SGLI and VGLI. Join this session 12/10 at 11 a.m. ET. More information: https://learn.extension.org/events/1304
Understanding the basics of life insurance is essential when researching and ultimately choosing which life insurance is right for you and your family.
Life insurance is used for many different purposes. During this webinar, we will discuss how Corporate America is currently using life insurance, such as Non-Qualified plans, keyman protection, and buy sell funding. As well as what to look for when purchasing life insurance, as not all products are created equally. We will provide life insurance education on Term, Whole Life, Universal Life, No Lapse Guarantee, Indexed Universal Life, and Variable Universal Life.
In this presentation I discuss the best types of insurance for business owners. Our firm provides all of these services and more. Audio will soon be added.
Life Insurance Basics provides an overview of most of the types of life insurance products available today and reviews the basics of policies, contracts, beneficiaries and how to buy life insurance. Part of the continuing series of presentations in the Financial Services Industry Training. Contact us if you need training developed for your organization.
Understanding the basics of life insurance is essential when researching and ultimately choosing which life insurance is right for you and your family.
Life insurance is used for many different purposes. During this webinar, we will discuss how Corporate America is currently using life insurance, such as Non-Qualified plans, keyman protection, and buy sell funding. As well as what to look for when purchasing life insurance, as not all products are created equally. We will provide life insurance education on Term, Whole Life, Universal Life, No Lapse Guarantee, Indexed Universal Life, and Variable Universal Life.
In this presentation I discuss the best types of insurance for business owners. Our firm provides all of these services and more. Audio will soon be added.
Life Insurance Basics provides an overview of most of the types of life insurance products available today and reviews the basics of policies, contracts, beneficiaries and how to buy life insurance. Part of the continuing series of presentations in the Financial Services Industry Training. Contact us if you need training developed for your organization.
Spencer Lodge Fund Advisers Dubai Life Insurance. Spencer Lodge MD of Fund Advisers Dubai Universal life insurance offers you the freedom to increase or decrease your policy’s death benefit to fit your individual needs. Policies have minimum and maximum premium amounts that you must meet to maintain your coverage, but the timing of payments can be flexible. Access to cash values Universal life insurance policies have a cash value that has the potential to increase over time. If financial needs arise, you can tap into your policy by taking tax-advantaged policy loans and making partial withdrawals without income taxes.
A life insurance policy is a contract with an insurance company. In this policy, a person has to make regular payments to the insurance and there are different Types of Life Insurance
What is the difference between Whole Life and Indexed Universal Life for Reti...Michael Grigsby
I get asked a lot about how Whole Life insurance differs from Indexed Universal Life insurance, particularly when it comes to retirement planning. In this presentation, I note the similarities between these forms of permanent insurance, the differences, and why you might use one instead of the other.
Warrior Wellness: Mental Health and Women in the U.S. Militarymilfamln
Women play a pivotal role in military operations, and their experiences and responses may differ from their male counterparts. This webinar looks at how mental health manifests differently for women, in particular women in the military.
Women in the Military: Special Contributions and Unique Challengesmilfamln
Women have made and continue to make special contributions to the military, however they also face unique challenges as service members. This webinar discusses those contributions as well as some of the challenges they face.
Focusing on Co-parenting: Strengthening Diverse Military Family Systemsmilfamln
Join us to explore how the Military Family Readiness System can strengthen diverse families with a focus on co-parenting knowledge and skills. Best practices and research based strategies will be described and applied to military family systems and transitions.
Family Systems Trends and Transitions: What They Mean For Military Familiesmilfamln
Families are changing in response to large global trends. Military families are experiencing the same transitions which may be compounded by military service. Demographic changes will be discussed and the implications on family systems. In this webinar, participants share views of these changes, both personally and professionally.
Promoting Successful Home-to-School Transitions for Military Families with Yo...milfamln
This webinar will focus on promoting positive transitions from home to school and from school to school (e.g., during a move) for young children and their families. The presenters will identify important transitions that occur during early childhood including moving from home to school or school to school and discuss what research indicates regarding how these transitions play a role in children’s socioemotional and cognitive development. The challenges that exist within these transitions will be identified.
Presenters will describe and promote participant discussion of a range of research-based strategies for military families and caregivers/teachers to promote effective home-to-school/school-to-school transitions, strategies that promote positive socioemotional or cognitive development prior to, during, and after a transition. These will include how to connect with schools/teachers from a distance, moving, creating routines within transitions. The presentation will include a question and answer session immediately following.
Home Is Where Your Heart Is | Kids Serve Too!milfamln
Representative(s) from the Sesame Street Workshop will address potential child concerns and developmentally appropriate responses to relocation transitions, explore resources that caregivers can use when addressing these concerns, and provide tips in navigating the resources related to this topic on the Sesame Street for Military Families website.
This event is hosted by the Family Transitions concentration area of the Military Families Learning Network.
PCS Series: Research and Tools for Supporting Military Transitionsmilfamln
An overview of common issues military families face during a Permanent Change of Station (PCS). The first half of this webinar will look at the 2018 RAND Report, “Enhancing Family Stability During a Permanent Change of Station.” The second half of the webinar will focus on the tools available to military service providers through Military OneSource, such as Plan my Move, and other Military OneSource moving resources that can support families throughout a PCS.
This is the 3rd webinar in a 3-part Permanent Change of Station series focused on the issues military families face during a PCS.
SlideShare - Sesame Street Overview on Military Resources milfamln
In this 60-minute webinar, representative(s) from the Sesame Street Workshop will introduce the Sesame Street for Military Families website as well as explore resources that can be utilized in training, outreach efforts, family conversations, and community events. They will also discuss activities that promote child and family self-expression.
Up and Away: Building Child Language, Social Interactions, and Preliteracy S...milfamln
This webinar will focus on strategies to help children use more complex sentences and vocabulary with their caregivers and peers. Children learn through daily routines and play, but as they grow and explore early education settings, their social worlds expand. Opportunities abound for children to learn as they take turns peeking at the classroom guinea pig, pretend to be police officers on a chase, and read books with a favorite caregiver. We will cover strategies to support growth in language, social communication, and early literacy skills by engaging children in meaningful, everyday activities in early care settings.
Objectives:
1. Name three strategies to help support a child’s growing ability to combine words
2. Describe the importance of social interactions during the preschool years and how to support turn-taking and other early social skills
3. Learn three early literacy strategies to use in supporting young children’s readiness for school
Overindulgence In Parenting: How Much Is Too Much?milfamln
Overindulgence is an issue many people face in our society as the research and subsequent literature has shown us. While society tells us we need more on a regular basis, parents and children alike are struggling to understand how much is enough and adults who were given too much as children often feel the effects.
What is overindulgence?
Three ways parents overindulge
Tools to reduce overindulgence (The Test of Four)
Online course offerings
Employment Resources for Military Familiesmilfamln
Webinar attendees working with military service members will leave the webinar knowing where to find resources, partnering organizations, and support when working with military spouses seeking educational or career opportunities.
Opportunities & Possibilities: Posttraumatic Growth in Research & Practice milfamln
In this presentation, Richard Tedeschi, Ph.D. will discuss the theoretical model and research basis of posttraumatic growth, the process by which trauma survivors often find valuable changes in how they live life in the aftermath of trauma. He will outline a framework for therapeutic interventions that facilitate posttraumatic growth through a way of relating called expert companionship. This approach to practice incorporates a broad view of what constitutes trauma, including many experiences that are not typically considered traumatic in our current diagnostic system, but which are traumatic to people because they challenge core beliefs about oneself, other people, the future, and the kind of world in which we live. The attention paid to possibilities for transformation of individuals and their relationships does not preclude working on typical symptoms of trauma, but recognizes that symptoms are better understood, tolerated, and reduced when traumatic suffering can have meaning and purpose.
Coconut oil is all the rage these days to benefit your health. It has been rumored to help with heart disease, thyroid problems, slow aging, and protect against illnesses such as Alzheimer’s, arthritis, diabetes and even weight loss. But what is the truth about coconut oil? Tune into this webinar to learn fact from fiction about this popular oil.
Learning Objectives
The participant will be able to discuss the composition of coconut oil and the metabolism of its triglycerides.
The participant will be able to explain the science behind the purported benefits of coconut oil for weight loss and blood lipid levels.
The participant will be able to assist clients in understanding the inclusion of coconut oil in the context of a healthy dietary pattern.
Small Talk: Strategies to Support Child Communication Before Words Emergemilfamln
Previous webinars in this series have covered child communication development through the preschool years. In this session Drs. Mollie Romano and Juliann Woods will discuss what families, early care and education providers, and early interventionists can do to help a child learn to communicate and talk. A focus will be placed on evidence-based strategies to support communication leading to words and how caregivers can embed these strategies in everyday activities - from walking to the bus stop to pick up an older sister to Face-timing with Mom or Dad while during deployment. The presenters will present a variety of responsive intervention strategies including interactive book sharing to support child communication and emergent literacy.
Objectives:
1. Describe the importance of responding to child communication as a strategy
2. Discover at least three ways to create opportunities for children to communicate during everyday routines
3. Learn how to coach families to embed strategies during their daily routines and activities
From Communication to Conversations: Expanding Language Development in the E...milfamln
Children’s language use grows dramatically throughout the toddler and preschool years. Words and phrases expand daily and children begin to form sentences that go beyond sharing their preferences. Their speech sounds continue to develop and include both predictable, and sometimes adorable, error patterns. Pre-literacy skills also emerge during this developmental window and lay the foundation for academic success as children approach elementary school. In this webinar, the presenters will discuss decontextualized language, early developing morphemes, timelines for phonological processes, and preliteracy achievements during the preschool years as well as when to worry that a child’s speech and language doesn’t seem to be progressing as expected.
Entrepreneurial Opportunities for Military Familiesmilfamln
This 90-minute webinar will examine the resources and programs offered by the Small Business Administration that can benefit military service members and spouses transitioning from the military into business-owning ventures. Jaime Wood from the Small Business Administration will give an overview of the programs offered nationally by the SBA to support entrepreneurial efforts of veterans and military spouses, including the Boots to Business initiative, programs offered by the Office of Veteran's Business Development, the Veteran Women Igniting the Spirit of Entrepreneurship (V-Wise), and Entrepreneurial Development programs for service disabled veterans.
Watch recording and learn more: https://learn.extension.org/events/3265
Getting to Know You: Early Communication Development from Birth to Three Yearsmilfamln
Infants share their needs and interests, as well as learn from social interactions within their everyday routines and activities. Recognizing children’s early communication signals is key to supporting their future development. Children learn about language and how it is used in their environment even prior to understanding and using words themselves. Join us as we explore the importance of early communication development and the initial stages of language expansion. We will share milestones that identify typical and atypical development along with resources which provide a deeper exploration of this topic.
Objectives:
*Identify at least 12 early developing gestures that are used by young children to share and gather information
*Describe early sound development milestones and identify red flags for atypical speech sound development
*Provide strategies for explaining how vocabulary and word combinations develop to families
*Discuss similarities and differences in communication development for Dual Language Learners
Income Tax Tips for PFMs Working with Military Familiesmilfamln
This is a free webinar hosted by the Personal Finance concentration area of the Military Families Learning Network.
This 90-minute webinar will address updates to tax changes that affect military families and service members. Barbara O’Neill will discuss tax basics and common tax errors during the first half hour of this interactive webinar. In the second half Taylor Spangler of University of Florida Extension will talk about the specific tax issues of concern to military families, as well as provide military specific resources for tax help and support. Carol Kando-Pineda of the Federal Trade Commission will close the session with an update on the resources available through identitytheft.gov. Find more info: https://learn.extension.org/events/3191
The Blended Retirement System Launch: Questions & Answers milfamln
The new Blended Retirement System goes into effect on January 1, 2018. Speaker Andy Corso will discuss Blended Retirement basics, including identifying the requirements for eligibility to opt into the BRS, requirements for automatic enrollment in the BRS, the opt-in period; enrollment and training requirements, including the factors used to determine if a member is opt-in eligible or automatically enrolled in the BRS, how enrollment status impacts benefits under the BRS, which training course(s) a member must complete, hardship extensions, ROTC/Academy rules, and special treatment of Delayed Entry Program enlistees. Mr. Corso will also cover vesting and account options such as basic rules for starting and stopping TSP contributions and receipt of matching and automatic TSP contributions, the vestment process in retirement savings and retirement benefits, breaks in service, re-entry, and change of component each impact benefits; and continuation pay and lump sum options including the requirements for receiving Continuation Pay, the policies and procedures for requesting a lump sum of retired pay, how a discount rate affects the amount of a lump sum, tools to analyze lump sum options, and the advantages and disadvantages of a lump sum.
Beyond the Shape Sorter: Playful Interactions that Promote Strong Academic & ...milfamln
This webinar is hosted by the MFLN Family Development Early Intervention concentration area. For full information and the archived recording, visited https://learn.extension.org/events/2943. Questions about the MFLN? Email us at MilFamLN@gmail.com
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
BYD SWOT Analysis and In-Depth Insights 2024.pptxmikemetalprod
Indepth analysis of the BYD 2024
BYD (Build Your Dreams) is a Chinese automaker and battery manufacturer that has snowballed over the past two decades to become a significant player in electric vehicles and global clean energy technology.
This SWOT analysis examines BYD's strengths, weaknesses, opportunities, and threats as it competes in the fast-changing automotive and energy storage industries.
Founded in 1995 and headquartered in Shenzhen, BYD started as a battery company before expanding into automobiles in the early 2000s.
Initially manufacturing gasoline-powered vehicles, BYD focused on plug-in hybrid and fully electric vehicles, leveraging its expertise in battery technology.
Today, BYD is the world’s largest electric vehicle manufacturer, delivering over 1.2 million electric cars globally. The company also produces electric buses, trucks, forklifts, and rail transit.
On the energy side, BYD is a major supplier of rechargeable batteries for cell phones, laptops, electric vehicles, and energy storage systems.
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
how to swap pi coins to foreign currency withdrawable.
Life insurance: What PFMP Staff and Military Families Need to Know
1. Life Insurance: What PFMP
Staff and Military Families
Need to Know
Barbara O’Neill, Ph.D., CFP®, AFC, CHC
Rutgers Cooperative Extension
oneill@aesop.rutgers.edu
2. Webinar Objectives
• Discuss basic insurance concepts
• Discuss basic life insurance concepts
• Describe different types of life insurance policies
• Discuss how to calculate life insurance needs
• Discuss life insurance information resources
• Discuss military life insurance options
4. What Is Insurance?
Third party risk protection
– Paying a company to share your large financial risks
– Requires a large pool of people pooling the same risk
5. The Essence of Insurance
• Insurance consists of two basic elements:
– Reduction of risk
– Sharing of losses
• Law of Large Numbers – As the number
of members in a group increases,
predictions about the group’s behavior
become increasingly more accurate
6. Why Is Insurance Important?
• Protects income and assets
• Death
• Disability
• Lawsuits
• May be required by lender – secured loans
• May be required by law
• For licensing (i.e., driving, medical practice)
• As employee benefit (health, disability)
7. Life is Full of Risks…Many
Have Financial Consequences
• Damage to car in accident
• Loss of home and/or possessions
• Loss of income due to disability
• Loss of a household earner’s income due to death
• Loss of a homemaker’s services
• Large medical bills for disease or injury
• A court judgment of liability for damages
8. Common Types of Financial
Risks
• Personal Risks
– Loss of income or life
– Illness, disability, or unemployment
• Property Risks
– Losses to property
– Damages by fire, theft, tornado, etc.
• Liability Risks
– Losses caused by negligence
– Injury or property damage to others
9. Five Ways to Manage Risk
• Do nothing and hope for the best
• Risk avoidance
• Risk reduction
• Risk acceptance
• Risk transfer (insurance)
11. Question #2
Do you have any other examples to
illustrate risk management methods?
12. Two Key Insurance Concepts
• Loss Frequency – The likely number of times
that a loss might occur over a period of time.
• Loss Severity – The potential magnitude of
the loss(es) that may occur.
14. Common Types of Insurance
•Life
•Automobile and motorcycle
•Property (homeowners, renters)
•Health
•Disability
•Long-term care
•Umbrella
15. How Insurance Works
Insurance Policy – Contract between a
person buying insurance (the insured)
and an insurance company (the insurer).
16. An Insurable Interest Must
Exist to Buy Insurance
Insurable Interest – When a person or
organization stands to suffer a financial loss
from a specific risk.
•Example #1: A person who lives in a house
that is insured
•Example #2: The spouse of person who is
covered by life insurance
17. Basic Insurance Terms
• Coverage = What insurance contract pays for
• Term = Length of insurance contract
• Premium = Cost of insurance contract
• Claim = Request for insurance benefit payment
18. Insurance Cost Factors
• Choice = Level of risk you want to take
– e.g., Amount of insurance coverage, deductibles
• Chance = Possible risks you have; statistics
– e.g., Age, density of area where you live
• Control = Lifestyle and behavior
– e.g., Driving habits, health habits
21. Life Insurance Basics
• Pays when the policy owner dies
• Generally purchased to financially help those
left behind
• Provides money to beneficiary(s)
• Can be temporary or permanent coverage
22. Financial Planning With Life
Insurance
• Protect those who depend on your income
from financial loss resulting from your death
– Reduces financial burdens of survivors
• Obtained by purchasing a policy
– The insurance company promises to pay a lump sum
(death benefit) to a named beneficiary at the time of
the policy holder’s death (or sometimes while they are
still alive)
10-22
23. Other Reasons to Buy Life
Insurance
– Pay off a mortgage or debts
– Provide an education or income for children
– Accumulate savings
– Continue a business after key personnel die
– Set up an estate plan (e.g., fund trusts with life insurance)
– Pay estate taxes (e.g., farmers and business owners)
10-23
24. Key Life Insurance Terms
• Mortality Tables- Provide odds on your dying, based on
your age and sex.
– Premium is based on life expectancy and projections for payouts for
persons who die (called actuarial tables)
– Older people pay higher premiums because they will die sooner
• Face Amount- The dollar value of protection listed in the
policy and amount used to calculate the premium (e.g.,
$100,000)
• Group Term Insurance- Issued to people as members of a
group rather than as individuals
10-24
25. Key Provisions in a Life
Insurance Policy
• Beneficiary and contingent beneficiaries (those who
will receive benefits upon the insured’s death)
• Incontestability clause After the policy has been
in force for a specified period, the company can’t
dispute its validity for any reason (usually 2 years)
• Length of grace period for late payments
• Reinstatement of a lapsed policy if it has not been
turned in for cash (must qualify again and pay
overdue premiums)
10-25
26. More Key Policy Provisions
• Non-forfeiture clause allows you to keep accrued
benefits in a whole life policy if you drop the policy
• Policy loan provision to borrow against cash value
• Suicide clause during first two years (only get back
premiums in the event of suicide)
• Policy rider modifies the coverage by adding or
excluding conditions or altering benefits
27. Common Life Insurance
Policy Riders
• Waiver of Premium for disability benefit
• Accidental Death Benefit – “double indemnity”
• Guaranteed Insurability Option (can buy
additional insurance at specified intervals without a
medical exam)
• Cost of Living Protection (helps maintain
purchasing power)
• Accelerated Benefits, also called living benefits
(make payments to those who are terminally ill
before they die)
10-27
28. Term (Temporary) Life Insurance
• Often provided as employee benefit (e.g., 1 to 5 x salary)
• Least expensive type of life insurance coverage
• Lasts for specific time period (e.g., 1 to 30 years)
• Provides protection during its term; like “renting insurance”
• No cash value
• Gets more expensive with age
• May not be able to get after age 65
29. Common Types of Term Life
Insurance
– Renewable Term- Can renew; higher premium
charged
– Multiyear Level Term- Same premium for set
period (e.g. 15 or 20 years)
– Conversion Term- Allows change to a
permanent policy
– Decreasing Term- Face value decreases over
time (frequently used for mortgages)
10-29
30. Permanent Life Insurance
• Combines life insurance coverage and an
investment account (a.k.a., cash value)
• More expensive than term life insurance
• Amount of premium based on age when
you buy the policy
• Can borrow against the cash value
• Generally need to hold policy a long time
for a good investment return
31. Types of Permanent Insurance
Straight-Life or Whole-Life Insurance
– Pay the premium as long as you live
– Accumulates a cash value you can borrow against
– Look carefully at the rate of return
Limited Payment Policy
– Pay premiums for a stipulated period
– Policy then “paid up” and you remain insured for life
Variable Life Policy- Fixed premiums; cash put into investment accounts
Adjustable Life Policy- Can change coverage with needs
Universal Life- Can change premium, time period, benefit
There are many variations of these policy types; read the fine print!
10-31
34. Who Needs Life Insurance?
• Do you have people you need to protect financially? Will your
death cause them financial hardship?
– Common Scenario: joint debt with a surviving spouse
• Are you single and have a lot of debt?
– Common Scenario: student loans cosigned by parents
• Do you have parents, relatives, or a charity that you want to
support?
– Common Scenario: divorced parent with children
Avoid being persuaded to buy unnecessary life insurance!
10-34
35. How Much Life Insurance?
• Funeral costs
• Mortgage/debt costs
• Needs of beneficiaries (e.g., number and age)
• Goals (e.g., college costs for children)
• Care expenses for children
• Ability/income of spouse or guardian
• Other financial assets
Online Life Insurance Calculators:
www.lifehappens.org/life-insurance-needs-calculator/
http://www.bankrate.com/calculators/insurance/life-insurancecalculator.aspx
36. Estimating Life Insurance Needs
• The Easy Method
– 70% or 75% of your salary for seven to ten years while
your family adjusts
– Assumes typical family without special needs
• The DINK Method
– Dual income, no kids
– Assumes spouse earnings will continue
– Cover funeral + ½ debts
• The “Family Need” Method
– More thorough than the first three methods
– Considers employer provided insurance, Social Security
benefits, income, and assets
10-36
37. “Family Need” Method Process
• Follow these steps:
– Estimate annual income needed by survivors
– Calculate # of years income is needed
– Add expenses (e.g., funeral, debt, other)
– Subtract income, such as government benefits and
survivor’s income, and existing assets
• Review periodically as needs change
40. Types of Life Insurance
Companies
2 Types of Life Insurance Companies
Type of Company
Owned by
Stock life Insurance
Shareholders
Mutual life insurance
Policyholders
10-40
41. Stock Life Insurance Companies
• Owned by shareholders
• Sell non-participating (non-par) policies
• Majority of life insurance companies
• Consider the financial stability of the
insurance company
10-41
42. Mutual Life Insurance Companies
• Owned by policyholders
• 5% of policies are from this type
company
of
• Participating policy premiums are higher
than non-participating policies
– Part of the participating premium is refunded to
the policyholders annually in the form of a
policy dividend
10-42
43. Other Types of Life Insurance
• Group life insurance
– Term insurance
– Often provided by an employer
– No physical is required
• Credit life insurance
– Debt paid off if you die
• Mortgage, car, furniture
– Expensive protection (usually overpriced)
• Endowment Life Insurance- pays policyholder
a lump sum if still living at end of the endowment period
10-43
44. Buying Life Insurance
Consider:
– Present and future sources of income (self/spouse)
– Accumulated assets
– Outstanding debts
– Group life insurance benefits (if any)
– Special needs of family members
– Available Social Security benefits
– Financial strength of insurance companies
10-44
45. Buying Life Insurance
• Compare policy costs based on:
– Company’s cost of doing business
– Return on company’s investments
– Policy features
• Interest-adjusted index
– Used to compare policy costs
– Lower index = lower cost policy
– Like an APR for credit or APY for bank products
10-45
46. Buying Life Insurance
• Research insurance company ratings by major rating
firms:
• A. M. Best
• Standard and Poor’s
• Duff & Phelps
• Moody’s
• Weiss Research
• Talk to knowledgeable friends/family or advisors
• Check out online premium quote services
• Visit sites such as www.quotesmith.com
47. Sample Online Life Insurance Quote
Male, born 1/1/1980; 190 lb; $400,000 term
Living in New York State
insurance – 10 years
Preferred (best health),
never smoked
$55+ per quarter
($220/yr)
Standard, current
smoker
$155+ per quarter
($620/yr)
Source: www.directquote.com
48. Question #4
What other factors do you tell people to
consider when buying life insurance?
49. Choosing an Insurance Agent
• Ask friends, family and/or other financial
advisors for recommendations.
• Does the agent belong to insurance
industry professional associations
• Is the agent a Chartered Life
Underwriter (CLU)?
• Is the agent willing to take the time to
answer questions and find a policy that
is right for you?
• Do you feel pressured?
10-49
50. Obtaining and Examining a Policy
• First step: apply for policy
• Second step: provide medical history
– Usually no physical for a group policy
• Read the contract carefully
• Use the “free-look” period to change your mind, if
necessary
• Give beneficiaries and executor(s) of your will a
photocopy of the policy (or key data about it)
• Review periodically; revise as needed
10-50
51. Life Insurance Evaluation Service
• Compares costs and benefits of cashing in
a policy or keeping it and buying different
forms of coverage
• By Consumer Federation of America, a
national consumer advocacy group
• Costs about $100 for the evaluation
www.evaluatelifeinsurance.org/#two
52. Should You Switch Policies?
• Switch if benefits exceed costs of getting new
physical exam and paying policy set-up costs
• The older you are, the higher the premium
• Are you still insurable?
• Can you get all the provisions you want?
• NEVER cancel an old policy until new policy is
in hand
10-52
53. Choosing Settlement Options
Settlement Options = choices of how the
insurance money is paid out
– Lump-Sum Payment = most common method
– Limited Installment Plan
• In equal installments to beneficiary for a specific
number of years after your death (e.g., 10-years)
– Life Income Option
• Payments to the beneficiary for life
– Proceeds Left with the Company
• Pays interest to the beneficiary
10-53
54. Life Insurance for Military Families
Servicemembers' Group Life Insurance (SGLI)
• Low cost group term life insurance automatically
available to all active service members
• Automatically activated for $400,000; SM can elect
lower coverage or no coverage
• Coverage in effect for 120 days after discharge
• Dependent children automatically insured for $10,000
at no additional cost to SM; generally until child is 18
– Unless child is a full time student or totally disabled
• Can convert to Veterans Group Life Insurance when
released from service
55. More About Military Life Insurance
• Depending on family needs, SM may require more coverage,
but SGLI is a good base to build on
• Key form for all transactions related to SGLI: Form SGLV
8286, Servicemembers’ Group Life Insurance Election and
Certificate
• Benefits for beneficiaries do NOT pass through a will;
beneficiaries must be listed on SM’s SGLI documents
• When life events happen, it is important for SMs to keep their
life insurance beneficiaries current
– Two types of beneficiaries: Primary and Contingent
– Beneficiary Designation Worksheet:
http://njaes.rutgers.edu/money/pdfs/beneficiarydesignations.pdf
56. More About SGLI
• Premium ranges from $3.25/mo for minimum
$50,000 to $26/mo ($312/yr) for $400,000 (cost:
$3.25 per $50,000 of coverage)
• Coverage can be extended for up to two years if the
Servicemember is totally disabled at separation
• Part-time coverage is provided to Reserve
members who do not qualify for full-time coverage
• Because SGLI is term insurance, there is no cash
value; it also does not pay dividends
• Web site: http://benefits.va.gov/insurance/sgli.asp
57. Veterans Group Life Insurance
(VGLI)
• After SM leaves military, SGLI can convert to VGLI
• See http://benefits.va.gov/insurance/vgli.asp
• SM should compare VGLI premiums and features with
individual policies to determine the best deal
• SM have 120 days from military separation to apply for VGLI
• VGLI is renewable term life insurance with no cash value
• SM may purchase in multiples of $10,000 up to $400,000
– Coverage cannot exceed what SM had under SGLI at the time of
separation from service
58. Traumatic Injury Protection
Under SGLI (TSGLI)
• See http://benefits.va.gov/insurance/tsgli.asp
• Extra $1/mo premium ($26 + $1 = $27 total monthly)
• Provides payment for SM suffering a traumatic loss:
loss of sight, hearing, speech, or limbs (on or off duty)
• Rider attached to SGLI policy
• Only covers SM; spouse/children are not eligible
• Pays a benefit between $25k-$100k
(depending on injury)
• Cannot be decline if SM is insured; can only be
declined if SM also declines SGLI
59. Family Servicemembers Group
Life Insurance (FSGLI)
• Automatic coverage to spouses (except SM married to SM)
and dependent children of an active duty SM covered by SGLI
• Spouse insured for $100k or amount of SM’s coverage,
whichever is less; SM spouse must apply for spouse coverage
• Maximum spouse coverage is issued automatically but can be
declined or reduced in writing by a SM
• Coverage is issued in increments of $10,000
• Premium increases as spouse ages
• SM is always the beneficiary of FSGLI policy
• Premiums deducted from service pay (shown on LES)
• See http://benefits.va.gov/insurance/fsgli.asp
60. Question #5
What else is important to tell service
members and their families about life
insurance?
61. In Summary
• Life insurance is an important building block
for family financial security
• Life insurance policies can be temporary
(term) or permanent with cash value
• The best way to calculate family life insurance
needs is with a personalized analysis
• Resources exist to calculate insurance needs
• Check insurance company ratings
62. Recommended Action Steps
• Review your current life insurance policy (if any)
• Make a list of questions for your insurance agent
• Review some life insurance calculators or worksheets
(to become familiar with them)
• Do a personal life insurance needs analysis
• Visit the Web site of your state insurance regulator
• Explore available group life insurance options through
your employer or a professional association