Still not sure – Is life insurance worth it? Don’t take our word for it. Listen to someone who has lived through a loss without it.

Purchasing a new home can be both exciting and stressful. For many people, a mortgage is the largest investment they will make in their lifetime. But would your loved ones be able to cover mortgage payments if something unfortunate were to happen to you?

Don’t let worries like this add to the stress of purchasing a home. Term life insurance from Foresters Financial offers an affordable solution to mortgage protection and can be tailored to meet your unique needs.

What is term life insurance?

Term life insurance can be an affordable life insurance option. It provides a fixed death benefit for a fixed premium payment, over a fixed period of time. Your premium payments are guaranteed and will remain level for the term you select.

But my bank is offering me mortgage insurance

Your bank or other mortgage lender will likely recommend their mortgage insurance. However, regular mortgage insurance offers you little control in what happens to your coverage. The lender is the beneficiary and decides how proceeds are spent while your coverage declines as you repay your mortgage.

With Term Life insurance from Foresters, you’re always in control. You own the certificate, decide who the beneficiaries are and your coverage amount remains level even though the mortgage balance decreases. And if you decide to move your mortgage to another financial institution, your term insurance goes with you. You do not have to reapply for coverage and your rates won’t increase.

More than just mortgage protection

What’s more, because term life insurance can be used for a range of time-sensitive expenses, and not just mortgage protection, you’ll have the option to renew your
certificate once the mortgage is repaid or convert to a permanent or universal life insurance plan. Premiums and the death benefit are guaranteed plus there’s a wide selection of terms, issue ages and valuable built-in features.

Your insurance, your life, your way

Term Life insurance from Foresters offers you options to customize your coverage and also provides you the opportunity to contribute to your favorite causes with our Charity Benefit provision.

Love Insurance

If family is the most important thing in the world…you’ll plan and protect it with life insurance.

That’s why we say Life Insurance is really Love Insurance. You don’t get it because you want it for yourself. You get it when you worry about what would happen to the people you love, if you die.

Source: LifeHappens.org

Heart Disease Life Insurance | Reading PA – If you have heart disease or heart disease runs in your family, it’s important for you to plan ahead for your family’s financial future. Because heart disease is the No. 1 cause for death in the United States, it’s important to keep track of your heart health and make sure that you have preparations in place for your family.

When considering whether or not you need life insurance, ask yourself some simple questions. If you passed away, would your family be able to afford the mortgage to keep their home? Would your family have money for basic necessities like food and clothing? Would your children be able to go to college? All of these situations are important to consider as you’re making the decision for your coverage.

If you answered no to any of these questions, it’s important for you to seriously consider getting coverage for you and protection your family’s financial future.

Term life insurance provides coverage for your family in the event of your death so that they can still afford expenses like the mortgage payment, groceries and college tuition. By planning ahead and putting these protections in place, you are guaranteeing your family the future you planned to have together, even if you are not able to be there. If you are an income provider, term life insurance will cover your family by providing them with your missing income so that they are able to pay bills and live comfortably.

Because death is unavoidable and your family depends on you, it’s important to plan ahead for your family’s future while you are still able. If you have heart disease or heart disease runs in your family, it’s imperative for you to plan ahead for your family, because heart disease is the No. 1 cause of death in the United States.

If you pass away and your family is missing your income, it will be difficult enough for them to pay regular monthly expenses, let alone funeral and burial expenses, in addition to any debts you may have. Having term life insurance coverage will relieve your family of the financial stresses that come along with losing a loved one.

Benefits to Heart Disease Life Insurance | Reading include:

  • Guarantees your family will be able to continue their lifestyle.
  • Guarantees your family will not incur financial burden, or lose their house over their inability to pay.
  • Pay off outstanding bills, such as credit cards or a mortgage.
  • Covers any final expenses or medical costs.
  • Provides a peace of mind that your family will be taken care of after your passing.

Reading GoFund.Me

Reading GoFund.me – On May 21st 2018 I searched Go Fund Me to see how many times the word “Funeral” would show up. I was shocked that the result showed 916,952 times!

Today, July 31st 2018 the result has skyrocket up to 1,529,114. That’s a 67% increase in just 2 short months.

Families are being left devastated and under insured, with no options but to turn to public support for help. Reading area families don’t look forward to pleading for community support. Reading GoFund.me pages are preventable, simply by purchasing life insurance.

There’s many reasons we tend to put off our life insurance. I’ve found the most common reason is the cost. If affordability is an issue for you, I completely understand because I have been there, so I can help you.

Maybe you’re young and this isn’t your concern just yet. But just maybe it’s a conversation we should be having with your parents, who want and need to protect YOU.

I’m easy to work with. Call us today, and I will be happy to shop some companies, find you something that’s affordable, that protects you from needing to set up a Reading GoFund.me page.

Just remember, you can’t put a price on your family. But there’s a price on protecting them. I would greatly appreciate be the opportunity to protect your legacy. Let me know how I can help.

How do IUL’s stack up? It’s time for an IRA vs IUL | Reading showdown!

Most people planning for retirement believe that 401(k) and IRA plans are the best strategies for retirement. I get it, they’re popular. But in the last 20 years, we had two major market crashes. Understandably, many working professionals worry about the long-term safety of their money. But with its contribution limits, costly tax implications, and investment options’ exposure to market risk, the IRA can be unseemly for careful savers.

I’ve spoken about Indexed Universal Life (IUL) plans as an alternative to Roth IRA’s in particular however, and how they’re competitive.

But how good or bad an alternative is an IUL, versus an IRA? The answer is, of course, it depends. No one can say for sure, because no one can tell the future of how the market and investments will fare.

I can, however, base projections off of current rates, using myself as an example. Some parameters:

  1. I’m a 40 year old male in relatively good health. For the IUL, I’d expect to get a Preferred Non-Tobacco rating (the second-best rating, not the best).
  2. I’m starting with zero invested in either today, and adding $500/month from now until age 69.
  3. I’m using the current interest rate on a typical IUL product, now at 8.26% EOY. There are no fund management fees.
  4. I’m using an optimistic 7.0% rate of return on a IRA, but subtracting 0.5% for fund management fees.
  5. I’m assuming that markets are steady and not fluctuating, because chaos is hard to model.
  6. And, I’m assuming that taxes will stay at their current rate for someone with an annual income of 100k/year.

Lots of assumptions there, but let’s see where that gets me.

 

IRA vs IUL | Reading: The Results

IUL: $500,579. No taxes taken out, because it’s paid for with after-tax dollars.

IRA before taxes: $630,000. After taxes (25% bracket): $472,500

Those taxes really hurt!

 

Some thoughts to consider:

Taxes: Given current federal fiscal deficits, do you think income taxes are staying where they are or going up?

Early withdrawals: If something happens to me and I need the cash value of the IRA before retirement, I’d pay large tax penalties from the IRA. No penalty for early withdrawals from an IUL.

Probate: If I were to die young with an IRA, my investment would probably be stuck in probate.

Life Insurance: If I were to die young with an IUL, my family would get the death benefit almost immediately. My death benefit at this level would start at $411,000, and go up steadily as I approach my golden years.

 

If you have been diagnosed with Chronic Obstructive Pulmonary Disorder (COPD), it is important for you to know that you can qualify for affordable COPD life insurance Reading with the Reading Mortgage Protection Center. While many companies make it difficult for people with COPD to get good coverage, it is our goal at the Reading Mortgage Protection Center to make obtaining coverage easy and affordable for you. By doing this, we make this coverage more accessible for people with COPD, giving them the opportunity to get the coverage they deserve. At Mortgage Protection Center, we believe that people should have equal access to good coverage at affordable rates, and so we make that our priority. We consider you and your family’s needs, aiming to find the plan that best suits your unique situation.

With Mortgage Protection Center, you and other people with COPD can qualify for permanent whole life insurance without a medical exam. This provides clients with COPD affordable coverage for their whole lives without the worry and stress of passing a medical exam for the coverage they deserve. Many people with COPD have experienced applying and being denied, and now we want to make it right by giving your family access to the protection they deserve. At Mortgage Protection Center, we want to provide coverage to as many American families as possible, and we want you to have the protection you need. Our agents and qualified representatives are ready and waiting to guide you to the perfect plan. Protecting you is our priority, and we look forward to helping you soon!

Benefits to COPD Life Insurance | Reading include:

  • Affordable premiums that cannot be increased.
  • Up to $50,000 in coverage.
  • Death benefit is guaranteed and cannot be canceled as long as premiums are paid.
  • Coverage can be used to pay final expenses like funeral expenses, medical bills and any other final expenses.

 

I Wish You’d Had Life Insurance …

We all have stories of life insurance (or lack of it) effects us when a loved one dies. For a colleague of mine, it was about five years ago, living out West with her husband and teenage son. One day, they received a call that their son had died in a car accident – he’d fallen asleep at the wheel.

Her husband (the son’s step-father), had to work the day of the funeral in order to scrape together the money to pay for the funeral.

I can’t imagine that. They couldn’t afford to grieve.

Six months later, tragedy struck my friend’s family again. Her husband died unexpectedly, again with no life insurance. With no way to cover the funeral or the mortgage any longer, she lost the house.

That’s right, within a year, she lost her son, her husband, and her house. She had no way to survive, so she had to move across the country and move in with relatives in North Carolina. It took her 3 years to get back on her feet.


My personal story is about what could happen to my family if something happens to me.

My first career was a s a biomedical scientist, but from about 2010 to 2015, I was living in an area where there weren’t jobs in my field, and I was broke. I had a wife and two young children who depended on me, and I was broke. The strain ruined my marriage, and I had to move to earn money to support my children.

I saw what financial problems did to my family, and the people that I loved. It broke my heart. I’m doing better now, but not so much better that I don’t worry about what could happen to them if I wasn’t supporting them financially. It kept me up at night.

Life Insurance (and Health Insurance) helps me sleep better at night.

I spend close to 10% of my income on life and health insurance because I want to sleep better at night. I want to know that:

  1. if I die, the money will still be there to allow my daughters to attend college.
  2. if I have a heart attack or cancer, I’ll have my medical expenses covered and money to continue supporting my daughters.
  3. I can affordably go to the doctor to make sure that (1) and (2) don’t happen.
  4. and I gain cash value with these plans that allows me to retire one day. I don’t want to have to work until the day I die.

I have three plans to help me do that:

First, I have a fixed indemnity plan as health insurance on myself, as an affordable way to see the doctor if something happens to me.

Second, I have guaranteed universal life plan on myself, with critical and chronic illness benefits, so that if I die, get cancer or can’t work any longer due to illness, I’ll have money to replace my income and (if necessary) bury me with.

And third, I have an IUL that grows interest on the cash value of my life insurance, so I can retire one day.

I have all of this, because I want to sleep better knowing my loved ones will be okay.

Dan @ Rhoads Insurance Group