Welcome!

News Feed Item

Protect Your Financial Future

MISSION, KS -- (Marketwired) -- 03/07/14 -- (Family Features) Life is a series of milestones, and at each stage the financial protection of assets, dreams, and goals is important. However, many American families are at risk of not being able to pay a mortgage, or childcare expenses, or save for college or retirement if something were to happen to a family's primary income earner.

Prepare for the unexpected
Whether you are raising a family, moving to a larger home, or planning for college tuition payments and retirement, life insurance is an important consideration for protecting your family and assets. LIMRA, a life insurance industry research organization, reported in 2011 that one in three U.S. households has no life insurance at all. For those that do, life insurance holders only own enough on average to replace household income for 3 1/2 years, while the recommended industry rule of thumb is around seven to 10 years.

"Life Insurance is absolutely critical for families who want to secure their financial futures," said Cynthia Tidwell, CEO and president of Royal Neighbors of America, one of America's first women-led life insurers. "At every stage of your life, consider who depends on you and what expenses will need to be met to protect the ones you love. Women in particular undervalue their worth in a household and also need coverage."

Protection for every family
According to a 2013 Pew study, women are the sole or primary breadwinners in a record 40 percent of U.S. households. LIMRA also recently reported women's life insurance coverage is only 69 percent of the average coverage on men.

"Whether they work in or outside the home, we challenge women to value their worth and get life insurance coverage so they can protect their family's finances if something were to happen," Tidwell added.

Four ways life insurance protects families
1. Pays your debts.
If something happens to you, life insurance can help pay off debts such as a mortgage, credit cards, auto, or other loans. Consider life insurance as part of your financial plan.

2. Covers daily living expenses.
Don't forget daycare, tuition, grocery, and energy bills. According to LIMRA, in 2011 nearly two-thirds of financial decision-makers admit they would have trouble paying everyday bills within a few months of a spouse dying prematurely.

3. Helps save for the unexpected (and expected).
Many different life insurance policies have cash savings options to help pay for expenses such as college tuition, weddings, or starting up a business. Look for permanent or whole life policies with cash value accumulation options.

4. Pays for funeral expenses.
No one likes to leave a family with expensive funeral costs. The average funeral costs about $7,000, as estimated by the National Funeral Directors Association in 2012.

How much life insurance do you need?
Log on to www.royalneighbors.org for more information. You'll find financial information, an overview of life insurance options and interactive calculators to determine the life insurance coverage that's best for you, retirement savings and how much to save for college expenses.

Types of Life Insurance
Life insurance is an important part of financial planning, helping those you leave behind in the event of an untimely death. Life insurance can help pay off mortgages, loans, and college tuition or ensure your family can maintain their quality of life. The types vary and it is recommended that you speak with an insurance professional to ensure you have the right coverage for your life stage.

  • Term insurance provides coverage at a fixed premium amount for a specific period of time. It is often the first and most affordable choice families make to protect assets, like a home, for 10, 20 or 30 years. Term insurance may be right if you are just getting started and your budget is tight; you want to secure your home by choosing a term period to protect mortgage payments; or you want to protect those who depend on you until they can provide for themselves.
  • Whole life insurance is permanent insurance. It provides lifelong coverage for your entire life, at fixed payments that are level, predictable, and do not increase. If you make payments on time, your coverage cannot be cancelled, even if your health changes. This type of policy can also accumulate cash value that is available in the form of a loan for expenses such as college costs, a wedding or other unplanned needs.
  • Universal life insurance adds flexibility to the benefits of permanent life insurance. Universal life (UL) products can provide financial protection with permanent life insurance, but offer flexible options. You can often tailor your premium payments, or build cash value for other financial goals such as college or retirement or change the death benefit.

Quick Checklist
Be prepared for the unexpected by taking these important steps to make sure your loved ones are protected financially.

  • Verify your beneficiaries. It's important to review your beneficiaries periodically to ensure the information is up to date.
  • Select a durable power of attorney. Appoint a trusted person to make financial or healthcare decisions on your behalf.
  • Update your will. Make sure your will accurately reflects any substantial changes in your family or assets.
  • Compile a list of documents. Create a master list outlining how to access your financial, personal, and legal records.

About Family Features Editorial Syndicate
This and other food and lifestyle content can be found at www.editors.familyfeatures.com. Family Features is a leading provider of free food and lifestyle content for use in print and online publications. Register with no obligation to access a variety of formatted and unformatted features, accompanying photos, and automatically updating Web content solutions.

Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=2537773

Add to Digg Bookmark with del.icio.us Add to Newsvine

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
"Akvelon is a software development company and we also provide consultancy services to folks who are looking to scale or accelerate their engineering roadmaps," explained Jeremiah Mothersell, Marketing Manager at Akvelon, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"Space Monkey by Vivent Smart Home is a product that is a distributed cloud-based edge storage network. Vivent Smart Home, our parent company, is a smart home provider that places a lot of hard drives across homes in North America," explained JT Olds, Director of Engineering, and Brandon Crowfeather, Product Manager, at Vivint Smart Home, in this SYS-CON.tv interview at @ThingsExpo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Enterprises are striving to become digital businesses for differentiated innovation and customer-centricity. Traditionally, they focused on digitizing processes and paper workflow. To be a disruptor and compete against new players, they need to gain insight into business data and innovate at scale. Cloud and cognitive technologies can help them leverage hidden data in SAP/ERP systems to fuel their businesses to accelerate digital transformation success.
In this presentation, you will learn first hand what works and what doesn't while architecting and deploying OpenStack. Some of the topics will include:- best practices for creating repeatable deployments of OpenStack- multi-site considerations- how to customize OpenStack to integrate with your existing systems and security best practices.
DXWordEXPO New York 2018, colocated with CloudEXPO New York 2018 will be held November 11-13, 2018, in New York City and will bring together Cloud Computing, FinTech and Blockchain, Digital Transformation, Big Data, Internet of Things, DevOps, AI, Machine Learning and WebRTC to one location.
Most DevOps journeys involve several phases of maturity. Research shows that the inflection point where organizations begin to see maximum value is when they implement tight integration deploying their code to their infrastructure. Success at this level is the last barrier to at-will deployment. Storage, for instance, is more capable than where we read and write data. In his session at @DevOpsSummit at 20th Cloud Expo, Josh Atwell, a Developer Advocate for NetApp, will discuss the role and value...
Modern software design has fundamentally changed how we manage applications, causing many to turn to containers as the new virtual machine for resource management. As container adoption grows beyond stateless applications to stateful workloads, the need for persistent storage is foundational - something customers routinely cite as a top pain point. In his session at @DevOpsSummit at 21st Cloud Expo, Bill Borsari, Head of Systems Engineering at Datera, explored how organizations can reap the bene...
Security, data privacy, reliability and regulatory compliance are critical factors when evaluating whether to move business applications from in-house client hosted environments to a cloud platform. In her session at 18th Cloud Expo, Vandana Viswanathan, Associate Director at Cognizant, In this session, will provide an orientation to the five stages required to implement a cloud hosted solution validation strategy.
In his session at 20th Cloud Expo, Scott Davis, CTO of Embotics, discussed how automation can provide the dynamic management required to cost-effectively deliver microservices and container solutions at scale. He also discussed how flexible automation is the key to effectively bridging and seamlessly coordinating both IT and developer needs for component orchestration across disparate clouds – an increasingly important requirement at today’s multi-cloud enterprise.
"DevOps is set to be one of the most profound disruptions to hit IT in decades," said Andi Mann. "It is a natural extension of cloud computing, and I have seen both firsthand and in independent research the fantastic results DevOps delivers. So I am excited to help the great team at @DevOpsSUMMIT and CloudEXPO tell the world how they can leverage this emerging disruptive trend."
The current age of digital transformation means that IT organizations must adapt their toolset to cover all digital experiences, beyond just the end users’. Today’s businesses can no longer focus solely on the digital interactions they manage with employees or customers; they must now contend with non-traditional factors. Whether it's the power of brand to make or break a company, the need to monitor across all locations 24/7, or the ability to proactively resolve issues, companies must adapt to...
In his session at 20th Cloud Expo, Mike Johnston, an infrastructure engineer at Supergiant.io, discussed how to use Kubernetes to set up a SaaS infrastructure for your business. Mike Johnston is an infrastructure engineer at Supergiant.io with over 12 years of experience designing, deploying, and maintaining server and workstation infrastructure at all scales. He has experience with brick and mortar data centers as well as cloud providers like Digital Ocean, Amazon Web Services, and Rackspace. H...
DXWorldEXPO LLC announced today that ICC-USA, a computer systems integrator and server manufacturing company focused on developing products and product appliances, will exhibit at the 22nd International CloudEXPO | DXWorldEXPO. DXWordEXPO New York 2018, colocated with CloudEXPO New York 2018 will be held November 11-13, 2018, in New York City. ICC is a computer systems integrator and server manufacturing company focused on developing products and product appliances to meet a wide range of ...
René Bostic is the Technical VP of the IBM Cloud Unit in North America. Enjoying her career with IBM during the modern millennial technological era, she is an expert in cloud computing, DevOps and emerging cloud technologies such as Blockchain. Her strengths and core competencies include a proven record of accomplishments in consensus building at all levels to assess, plan, and implement enterprise and cloud computing solutions. René is a member of the Society of Women Engineers (SWE) and a m...
@DevOpsSummit at Cloud Expo, taking place November 12-13 in New York City, NY, is co-located with 22nd international CloudEXPO | first international DXWorldEXPO and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time t...