William Penn Life, 2011 (46. évfolyam, 1-12. szám)
2011-06-01 / 6. szám
Moneywise with Jeff DeSantes Life Insurance = Family Protection FAMILY PROTECTION is what comes to mind when people think about buying life insurance. The fact is if there were no family structure there would be no life insurance. Family, more often than not, is what it is all about, and here at William Penn Association our members are our family. Therefore, we want all of our WPA families to have the right protection. The before-tax income of a middle income family in the United States today is about $68,000, and the average income of a two-parent family is approximately $102,000. It is also estimated that it costs more than $260,000 to raise one child in this country, and this cost continues to grow. Over and above these costs is the cost of a college education for a child. We also have basic living expenses, home improvement costs, saving in a good retirement plan, the cost of vacations and the cost of maintaining a good automobile or two. These costs can add up to a considerable portion of your income. The important thing to bear in mind is that these expenses remain after the death of the main breadwinner. Therefore, family protection is a must for all families. Keeping in mind that there is nothing more important than your family's security, I would like to give you some helpful hints from the National Association of Insurance Commissioners on buying insurance. When you buy life insurance, you want coverage that fits your needs and doesn't cost too much. • First, decide how much you need and for how long and what you can afford to pay. In figuring how much you need, remember to consider your family's living expenses, educational costs and any other future needs. Think also of cash needs for the expenses of a final illness and for paying taxes, mortgages or other debts. • Second, find out what kinds of certificates are available to meet your needs and pick the one that best suits you. Some certificates provide permanent coverage and others temporary coverage; some certificates let you change from one kind of insurance to another. Your choice should be based on your needs and what you can afford. This is why it makes good sense to ask your William Penn Association agent to review your insurance needs and all the different kinds of life certificates that are available through WPA. If one kind doesn't seem to fit your needs, your WPA agent will be able to aid you in choosing the correct life certificate for you and your family. We have a variety of permanent life insurance certificates and a variety of term life insurance certificates to meet your needs. We also have annuity plans that are ideal for retirement and have many key advantages. WPA annuities can be used to grow funds for retirement or education or to purchase a home. Whatever your long term goals are, a WPA annuity can be a valuable tool to help achieve them. If you do not have a WPA agent that you are currently working with, please call the Home Office at 1-800-848- 7366, ext. 120, and we can assist you in finding an agent that will meet with you in order to serve you and your family by offering: • A review of your needs; • Life insurance protection; • Taxed-deferred annuities; • Juvenile insurance plans; and • Special fraternal benefits. □ FJ.ÚQ'eKOJl jTWilliam Penn Life : © Monkey Business Images/I
