Education Center
Below are brief summaries of some of the topics
that may arise as we explore your long- and short-term financial
goals. The information will give you something to consider
as you prepare for our initial review.
Accumulating Retirement Assets
Retirement can signify a lot of things to a lot of
people: sailing off into the sunset with your beloved; never
having to worry about waking up early to catch the morning
train; finger-painting with your grandkids. But to make these
dreams a reality, you'll need to create a nest egg that will
make your retirement years as comfortable, if not more, as
when you were working.
Essentially, it's never too early to think about saving for
your golden years. As the average lifespan increases, you
should be prepared to put aside more to accommodate a longer
retirement.
At New York Life, we understand the importance of having
enough to spend during your retirement. That’s why we offer
a variety of insurance and financial products that can help
you fund your retirement, and make the money you’ve worked
for years to save go even further.
Charitable Giving: The 10 Advantages Of Donating Life
Insurance Proceeds
- Your Gift Is Maximized. In addition to your current
outright gifts, life insurance offers the opportunity to
make a significant ultimate gift. Life insurance can help
create a major gift that otherwise may have been unaffordable.
- Your Legacy Lives On. You get tremendous satisfaction
helping your church, school, or other favorite charity.
And when you give the gift of life insurance, you are assured
that your support and its impact lives on. Your gift might
create a scholarship fund, or help continue a program well
into the future.
- Your Personal Assets Remain Intact. Using life insurance
as the gift helps avoid invading your assets, which are
intended to benefit and provide for your heirs. The premium
can fit easily into your annual or monthly budget. (Note
that you will need sufficient funds to pay the premiums
to keep the policy in force.)
- Your Charity Receives The Proceeds Of Your Gift Promptly.
Your gift of life insurance is not subject to probate delays
or estate settlement costs.
- Your Premiums Are Income Tax-deductible.* Your gifts
of premiums to purchase life insurance, if the policy is
owned by the charity, are income tax deductible to the extent
allowed by law. (Of course, the charity must qualify as
an exempt non-profit organization.)
- The Policy’s Proceeds Are Not Included In Your Estate.
Life insurance proceeds paid to the charity you name as
beneficiary are not included in your estate if the charity
owns the policy. Should you choose to retain ownership of
the policy, the policy’s proceeds are included in your estate,
but the amount paid to charity is estate tax deductible
as a “charitable bequest”.
- Your Charity Has Access To The Cash Value Of The Policy.
If your charity is the owner of a permanent life insurance
policy, any cash value build-up within the policy is available
to the charity for emergencies via policy loans, which will
reduce the available death benefit.
- Your Privacy Is Private. Since the gift of life insurance
is a private matter, it can be kept confidential, without
being exposed to public or family view, if that is a desire.
- Simple To Arrange. Your New York Life agent can show
you several ways to give the gift of life insurance, all
assuring that your intentions will be honored.
- Your Insurance Gift Is Backed By The Strength Of New
York Life. Since 1845 New York Life has served the needs
of individuals, families, and businesses. As one of the
nations top insurance and financial institutions, New York
Life has honored its commitment to policyowners.
*Laws vary from state to state. Individuals
should consult with their own professional advisors concerning
tax, legal or accounting advice.
Creating a Lasting Legacy for Loved Ones
With hard work and careful planning during your income-earning
years, you may have built a healthy nest egg, sufficient
to ensure a comfortable, independent retirement. You may
actually be in the enviable position of being able to leave
something to those you love the most: your spouse, children,
grandchildren, and perhaps your favorite charities. Now's
the time to seize the moment and put together a plan that
creates a legacy for those you love.
Your Children's Education
Consider this scenario: The car's packed and the teary
good-byes have been exchanged. You may feel as though your
baby's leaving you, but this is one of the proudest moments
of your life. You've scrimped and saved to afford your child's
education, and now that the day is finally here, you can
breathe a sigh of relief. Thank goodness you planned ahead
and started saving early so that the next four years won't
be so financially stressful.
Now, consider the alternative: What if you didn't plan?
Then those next four years could be your worst nightmare,
turning into a juggling act of student and parent loans,
financial aid requests, and semesterly payments. Fortunately,
New York Life and its subsidiaries understand the importance
of funding your children's education, and, therefore, offer
a selection of products to help you meet that goal.
Of course, we can't promise that you won't get the occasional
phone call, "Mom? Dad? I'm a little low on cash.…"
Safeguarding Your Home Mortgage
There's nothing like the feeling of owning your own home.
It's a part of the American Dream - to live in a home that
you can truly call your own. Between picking out curtains
and paint samples, you should also remember that your house
is an investment. Your home represents many things – a place
to raise a family, comfort, and a major financial commitment.
Like other valuable assets in your life, it too needs to
be protected. Realizing how important your house is to you
and your family is the first step. Deciding on ways to safeguard
your investment is an important step that will help guarantee
the joy of owning your home for years to come.
As a New York Life agent, I can help alleviate some of
the worry that comes with ownership. One major concern may
be that your family will face difficulties paying off the
mortgage in the event that you pass on. One of the ways
to help assure your family's financial security is to consider
life insurance products as mortgage protectors. Products
such as Permanent Life and Term Life insurance are personally-owned
and portable. If purchased in an adequate amount, the death
benefit can help retire the mortgage, and also help provide
money to cover other expenses. Ensuring your family's future
now will help ease your mind, and let you concentrate on
the really important things…like choosing between carpet
or hardwood floor for the dining room.
Need a little help in deciding which products and services
would be right for you and your family? Please use the
Contact Us button on the left to e-mail me. I can
help you analyze your needs and recommend appropriate
products.
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