William Penn Life, 2004 (39. évfolyam, 1-12. szám)
2004-09-01 / 9. szám
Moneywi$e with Mark Lantz Will my surviving loved ones have enough money? PITTSBURGH - The WPA is pleased to announce that Mark Lantz has joined our staff as the Association’s new Sales Director. A graduate of Robert Morris College, Mark began his 25-year career as a registered representa^ ^ tion, life insurance and annuities. Since 1986, he has been an innovator in the pension, benefits and insurance industry as a problem solver and planner in future strategies and cost reduction. In recent years, he has provided agents with ongoing training on marketing ideas to further sell their new and existing clients. Mark’s operating philosophy is to provide clients with creative and practical solutions that are consistent with the client’s objectives and investment philosophy. AS PAINED AS SOME MAY FEEL about life insurance, I never knew anyone who returned a life insurance death benefit check. Do you? We all have sincere love for the ones around us. As we glance through the obituaries, we see both young and old listed. Somewhere in the Bible it is mentioned that we do not know the hour. When our hour comes, will we be ready spiritually and financially? The WPA is here to help you plan for your family's financial future. We help each member select the right life insurance and annuity plans to meet their individual needs. Through our agents and Home Office staff, you have the resource to provide for your retirement income and survivorship income needs. You may have asked yourself: "Do I have enough life insurance? Do I have the right type of insurance? How much is enough?" We help our members understand the difference between "term" and "permanent" life insurance plans. Let's keep it simple. Term Insurance covers a period of time when you have a need for higher protection-i.e., while raising a family, providing for monthly living expenses, funding a child's college education, or paying a mortgage. Buying term insurance is like paying rent. It's inexpensive and provides a larger sum of money upon an untimely death. Permanent Insurance provides coverage into the senior years when you are concerned about final expenses, untimely medical bills and providing a lump sum of money or a monthly income to your survivors. But, how much is enough? You and your agent will be able to determine the amount of life insurance you may need. Call your local WPA agent, or call me, Mark Lantz, at 1-800-848- 7366.1 will be happy to have one of our agents contact you. Below are examples to help you estimate your life insurance needs. CATEGORY CASE 1 CASE 2 CASE 3 CASE 4 Final Expenses $10,000 $10,000 $15,000 $10,000 Outstanding Debts $0 $0 $50,000 $10,000 Mortgage $0 $0$100,000 $20,000 College Funding $0 $0 $50,000 $0 Total Lump Sum Needs $10,000$10,000 $215,000 $40,000 Present Value of Income Needs $210,061$210,061 $337,720 $458,700 Total Capital Needs in the Event of your Death $220,061$220,061 $552,720 $498,700 Less Current Investment Capital-$100,000-$100,000 -$100,000 -$100,000 Net Capital Needed $120,061$120,061 $452,720 $398,700 Exisitng Life Insurance-$100,000-$25,000 -$100,000 -$10,000 1 Projected Additional Life Insurance Needed $20,061 $95,061$352,720 $388,700 I Assumptions for Analysis Is Based on Input: Monthly Income Needed for Surviving Spouse $1,000 $1,000 $3,000 $2,000 Number of Years 20 20 10 20 Estimated Inflation Rate % 3.5% 3.5% 3.5% 3.5% After-Tax Investment Yield 5.0% 5.0% 5.0% 4.0% 4 William Penn Life, September 2004
