William Penn Life, 2005 (40. évfolyam, 1-12. szám)
2005-02-01 / 2. szám
MoneywiSe with Mark Lantz Don’t forget to pay yourself You have until April 15 to make your 2004 IRA contributions. 2004 Limits are $3,000, but if you are age 50 or older in 2004, you may contribute up to $3,500. According to the IRS Publication 17, higher IRA contributions will be allowed for 2005. The contribution limit to your traditional IRA for 2005 will be increased to the smaller of the following amounts: • $4,000, or • Your taxable compensation for the year. If you reach age 50 before 2006, the most that can be contributed to your traditional IRA for 2005 will be the smaller of the following amounts: • $4,500, or • Your taxable compensation for the year. For more information, please refer to your IRS publication or go to www.irs.gov Product of the Month Single Premium Whole Life Insurance We have a great Single Premium Whole Life Insurance plan! Plan Features and Advantages: • Issue ages 0-95, Minimum issue $3,000 • You may convert your old policies to the Single Premium Whole Life Plan. • One payment buys a fully paid-up whole life insurance plan • Almost the entire premium paid is credited as cash value and is available as loan collateral in the first year • Cash value continues to increase annually even though you pay no additional premiums The Single Premium Whole Life Insurance policies are used for: • Gifts to children • Seniors who wish to stop paying life insurance premiums and have permanent coverage • Estate planning for tax avoidance planning • Final expense planning Ask your agent or call the Home Office New Business Department at 1-800-848-7366for more information. WANTED - Fraternal Life Insurance Agents If you enjoy the fratemalism of William Penn Association and would like to further serve your members, family and friends, then call Mark Lantz, Sales Director. 1 would like to share an opportunity with you to further expand our society and help you to provide for their financial security. Call me at 1-800-848-7366 ext. 134 for more details. 4 William Penn Life, February 2005
