FOOD FOR THOUGHT
Updated December 17, 2011
|
|
FOOD FOR THOUGHT |
Our Insurance agent is: Brother Carlos Diaz, K of C Council 5135, 145 Dearborn Pl., Waterloo, ON, N2J-4Z1
Phone: 519-880-8957 or Council at 519-342-2313
Mail: carlos.diaz@kofc.org
Whole and term life policies
The rRight Insurance for a Rocky Economy, by Beth Piskora (edited from an article originally appearing in Business Week earlier this year) Are you prepared—financially, if not emotionally—if you lose your job? I not, you might, with a financial adviser, consider buying more insurance. Even if you are retired or feel strongly that your income stream is safe, you might want to consider in these times of volatile stock and bond markets some stable long-term savings options found in many insurance plans.
While term life insurance is overall a more popular product, whole life insurance is enjoying a resurgence in demand. A whole life policy can act as a buffer against estate taxes and probate costs and provides a death benefit along with a living cash benefit—a unique feature. In addition, a whole life policy allows someone at the time of retirement to remain insured while spending the other assets they've accumulated or pursuing a more aggressive investment strategy for those assets.
To illustrate the difference between the two kinds of policies, Chris Blunt, chief operating officer of life and annuity products at New York Life Insurance, likens term life to an adjustable-rate mortgage (ARM). "People buy ARMs because they seem cheap in the beginning, which is the same reason people buy term insurance," he says. "But whole life can actually end up being the better value in the long run, because whole life gives a cash value, which could be tapped as an alternative to the three- to six-month living expenses most financial advisers tell people to keep in a money market fund."
Blunt also notes that the whole life policy's cash value could be used as an extension of another source of "emergency" funds, including that money market account. "If you get laid off, you need to have created a financial plan that helps you withstand those unanticipated blows," he says. Cash value accumulated via a permanent whole life policy can be used for several scenarios including supplementing retirement, starting or investing in a business, purchasing or improving a home, or paying for a child's or grandchild's college education. The presence of whole life in an investment portfolio offers a stable return, though generally less than 5% per year. Whole life insurance is also well-suited for cases involving parents or caregivers of those with special needs or disabilities—an important feature for those in the "sandwich generation," who find themselves simultaneously saving for retirement, supporting children, and taking in aging parents.
"People think about the death benefit from permanent whole life insurance, but the living benefit is also important," says Richard Nolan, an insurance representative for Mass Mutual. "How much money can you raise in a week without incurring a tax or another financial penalty? If you borrow money from an (RRSP), you pay a penalty. But with the living benefit of a whole life policy, you can be your own bank. For all these reasons, whole life insurance is enjoying a resurgence. Piskora is managing editor of U.S. Editorial Operations for Standard & Poor's .
Why KofC Insurance
You should know……
The top ten reasons to deal with Knights of Columbus Insurance
You own it – As a member, its yours! Why not buy from yourself?
It’s a win – win situation. You’ll share in the profits ($350,000,000 in dividends to the members in 2003) along with the various charities that the Knights of Columbus support ($100,000,000 in 2003).
AAA Extremely Strong rating with Standard & Poor’s rating agency for 13 consecutive years. One of only 9 life insurance companies in North America with this top rating.
Industry leading, high quality, low cost insurance products available to members, their spouses and their children under the age of 18.
Extremely competitive rates for RRSP’s, RRIF’s’ and GIC type deposits.
Industry leading Long Term Care products for retirement planning and peace of mind.
Knights of Columbus are what you believe in; faith, family and helping others. Doesn’t the world need this now, more than ever before?
All consulting and planning services from your Knights of Columbus agent are available to you without obligation and free of charge.
Knowledgeable, professional & courteous agent who is also a Brother Knight with over 20 years experience with the Knights of Columbus. He has helped hundreds of families plan and reach their financial goals. Professional designations include Fraternal Insurance Councillor (F.I.C.) and Certified Elder Planner (E.P.C.). Also a repeat member of the Supreme Knights Sales Club and the Million Dollar Round Table.
Member participation helps the Grand Knight and the council attain the Star Council award and Founder’s award. Why not help your council?
Annuities Information
The beauty of our annuity and RRSP products lies squarely in their simplicity and security.
Simple from the standpoint that they’re fixed in nature. They provide long-term accumulation of wealth, specifically designed for retirement needs. There are no hidden management fees, or annual charges, and they are designed to accumulate wealth over time and ultimately can be used to provide longer term savings or guaranteed lifetime monthly income.
Secure because they are backed by the Knights of Columbus, an organization that earns the highest ratings from independent rating services while maintaining high ethical standards. Top ratings from agencies like Standard & Poor’s, A.M. Best and IMSA (Insurance Marketplace Standards Association)
Our investment philosophy is consistent with the nature of the funds entrusted to us. We invest in vehicles that generate competitive rates for you, while assuring absolute safety of your retirement nest egg.
Whether you’re looking to start a retirement savings program of moving substantial, more volatile funds into safer waters, the Knights of Columbus offers programs that can help you achieve your goals.
About KofC Annuities
Can be started with as little as a $300 single deposit.
Safety of principal – guaranteed.
Can be used as a deposit vehicle for registered money (RRSP, RRIF) or non-registered money (cash deposit),
Competitive payout options if desired when you decide to use the funds for retirement income, including options that provide income for your lifetime – no matter how long you live.
Need more information? Simply call me!
Long Term Care
You’ve worked so hard to create the kind of lifestyle you enjoy. Many of us can expect to live a long life. In fact, the life expectancy of people has never been longer than today! While we can expect to live longer lives, the quality of that life can be another matter.
In aging, some changes occur that can be anticipated, and some that are completely unexpected. In our 60’s and 70’s, tasks and activities that were once performed with ease might become increasingly difficult.
Over time we may need more assistance with activities like getting dressed or moving from a bed to a chair. We may acutely lose our health to a debilitating illness or accident – like a stroke. So, even though life expectancies have improved in terms of quantity, the quality of life, for some people, can be expected to diminish during the golden years. As well, the cost of providing the necessary care you might require can have a debilitating effect on you savings and your surviving spouse’s lifestyle.
Knights of Columbus Long Term Care insurance can help you cope with the cost of long-term custodial care – while maintaining your dignity and choice of care options. It’s a great addition to the Knights of Columbus portfolio of insurance programs.
COMPREHENSIVE POLICIES provide benefits for care received in a Nursing Home, Assisted Living Facility, Adult Day Care, and Home Care.
FACILITY-ONLY POLICIES provide benefits for care received in a Nursing Home or Assisted Living Facility.
Both types of policies offer choice of inflation protection – to buy additional units of coverage as you go or as a 5% Compound Inflation Rider.
YOU CHOOSE
- How much coverage you want or need.
- The equivalent number of years that benefits are to be paid.
- How long you wait (elimination period benefits before payments begin).
Your professionally trained Knights of Columbus Insurance agent will gladly help you design the plan (or plans) that best fit your needs. – Simply call me!
Permanent Life Insurance
Isn’t it nice to know that, despite the hectic pace of life around you that some things never change? Count Knights of Columbus permanent insurance among them!
First the markets are up…then they’re down. First everyone is pouring money into investments…then everyone takes it back out. Interest rates are low… Plans to retire at age sixty suddenly become a need to work until age seventy or more. Let’s take time out for a friendly reminder: place first things first.
No one will ever argue against putting some of your money to work in the investment arena. But putting first things first means taking care of your basic needs…and that should involve permanent life insurance and its guarantees.
Today, simplicity can be a beautiful thing, and whole life insurance from the Knights of Columbus is just that. Once you receive your policy and pay your premiums, you can sleep easy knowing that you and your family will be provided for when you need it the most. That will be the case in a bull market…or a bear market. You never have to check the financial pages of the newspaper to understand your K of C permanent life insurance: it grows and grows in value.
So get yourself some peace of mind – and sleep well – knowing that we’ll deliver your policy’s proceeds, to you or your family, regardless of market timing.
Your professional Knights of Columbus agent will be happy to perform a free, no obligation analysis for you to determine your needs, and then work with you to develop a plan that meets your needs, all within your budget. Simply call the number below… then sleep easy!
Term Insurance
Insurance coverage in this day and age is not a luxury but a necessity. With all the cutbacks we have seen in the past few years and the low interest environment we currently are experiencing, inadequate protection can truly be a formula for a family’s demise. Recently, the Agency Department of the Knights of Columbus has introduced low premium term plans that ensure you will be able to obtain the coverage you need.
The Order provides term insurance plans which offer coverage for one, five, ten, fifteen and twenty year periods with premiums required for the entire coverage period. They area available to insurable applicants (members, wives and children) between the ages of 18 and 65 and the minimum coverage can be $25,000 or $100,000 depending on the plan selected.
Those who apply for and receive $250,000 or more of coverage may be eligible to receive our Premier Term or Ultra Premier Term rates. I would be happy to explain the eligibility criteria for these reduced premiums.
The term policies may be converted to any permanent insurance plan prior to age 65 while the contract is in force, without evidence of insurability.
As well important riders such as Disability Waiver of Premium and Accidental Death are available if you qualify and are applied for up to age 55.
With more than $46billion of life insurance in force and the highest ratings from Standard and Poor’s, A.M. Best and IMSA, you have the peace of mind of knowing that your Order will be there to look after you and your loved one now and into the future. As well you have an agent with 20 years experience, able to help you meet your goals.
So why take the chance of leaving your family destitute when you can insure their future for about the price of a cup of coffee per day. With these low premium term plans, you can’t afford not to do the right thing!
Need more information? Just give me a call and as usual there is no obligation when we meet.
Offering simple solutions and exceptional opportunities to move our families ahead financially…