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Term or Perm?

Want to know the differences between term and permanent life insurance?

 

Our video breaks it down into simple terms to help you understand which type of life insurance could be best for your financial needs.

 

 

Vacations can be a real life saver.

 

We all love a good break from the daily grind, but did you know that vacations can actually be good for your health?

 

In the United States, someone has a heart attack about every 34 seconds—a sign that Americans work, worry and wear our hearts down more than we should. Studies show that vacationing can reduce the risk of heart attack in men and women.

 

Not only is it good for your heart health, but vacationing can also improve overall well-being, and work performance.

 

Here are 5 healthy reasons to start planning your next vacation.

 

Term vs. Perm: It’s About Your Future

 

You might know the basic differences between term and permanent life insurance. But are you aware of how this choice may affect your options in the future?

 

Term life insurance is often a good choice for an individual or a family in earlier years, especially if the budget is tight. It allows for affordable, yet high levels of coverage when the need for protection is often greatest.

 

While term insurance can provide low-cost coverage for a specific period of time, it does have an expiration date—10, 20, or 30 years, for example. That’s why it’s called “term” insurance. If you buy a 10-year term policy and then, at the end of that 10-year term, realize that you still have a need for life insurance, you may not qualify for the same rate you did 10 years ago. It could be because of your age, or your health may have deteriorated. Other factors also affect your underwriting class. In fact, you may find that it's too expensive to renew your policy, or you may not even re-qualify at all.

 

Here’s where permanent life insurance can be a great option to address these concerns.

 

Permanent life insurance is designed to provide lifelong financial protection. Because permanent life insurance policies are designed and priced to keep over a long period of time, this may be the right type of insurance for you if you have a long-term need for life insurance coverage.

 

"Permanent insurance" is generally a catchall phrase for a wide variety of life insurance products, many of which include a cash-value feature. Within this class of life insurance, there are many different products, including universal life insurance and indexed universal life insurance.

 

Despite what many people may think, the need for life insurance often remains long after the kids have graduated college or the mortgage has been paid off. If the unexpected happened, you or your spouse could still be faced with daily living expenses. And if your spouse outlives you by 10, 20, or even 30 years—would they be able to maintain the lifestyle you worked so hard to achieve? Would you be able to pass an inheritance on to your children or grandchildren? These are questions to consider carefully when determining what type of life insurance fits your needs.

 

Be sure you carefully consider your needs and how they may evolve down the road, and discuss them with your life insurance agent. If your needs will remain temporary, then term insurance may be right for you. But, if you think there's a possibility that you might need the coverage for a long time, then consider a low-cost permanent solution, like guaranteed universal life insurance.

 

Learn more by talking to your Midland National representative today!

 

 

Indexed Universal Life products are not an investment in the “market” or in the applicable index and are subject to all policy fees and charges normally associated with most universal life insurance.

IALC – Could Divorce Derail Your Retirement Plans?

 

Of course, no one plans on getting divorced. However, with more and more couples splitting the sheets, American divorces are also impacting retirement plans with 25% of all divorces involving someone over 50 years of age.

 

The topic of divorce is uncomfortable for any married couple. But, having that “what if” conversation with your spouse and financial professional about how assets would be divided in the event of a split is a good idea.

 

Read more from the Indexed Annuity Leadership Council here.

Ladies, It’s Time to Talk Finances

 

“Saw this deal and thought of you.” I am always a little touched when I receive this message from a friend. It means someone I know saw something that made them think of me, and they thought enough of me to forward it.

 

My friends are quick to point out deals on water park passes, electronics, and even toilet paper, but I have noticed something lacking in my inbox—any advice on securing my future.

 

92% of women are likely to pass along a good deal to other women. Yet, my inbox is void of “I made a plan for my financial future, and I thought of you!” Is this because my friends assume I have it all together and don’t need advice? Is it because they don’t want to seem nosey or overbearing?

 

Or is it just because women don’t like to talk about this kind of stuff?

 

The reality is that women need to think about our financial futures. When you consider that women are statically more likely to outlive their husbands and serve as caregivers to aging parents, the sense of urgency should send us in droves to financial professionals!

 

So, ladies, think about where you are with your finances. Could you use some assistance? Do you have it all together and have advice for others? Is there a financial professional that helped you and could possibly help a friend? The average woman has 171 contacts in her email and mobile lists. Reach out!

Help Wanted: Stay-at-Home Mom

Okay. You probably don’t come across a lot of “help wanted” ads for a stay-at-home mom. But, if you had to guess what the annual salary of a stay-at-home mom would be, would you even come close?

 

After seeing a recent study from Salary.com called “How Much Is Your Mom Worth?” we thought we’d spread the news on how much a stay-at-home mom’s salary can be worth to your family.* 

 

 

Working moms often pull double-duty shifts. In fact, according to the study, working moms perform an average of 58 additional hours per week of household and childcare duties—that’s on top of a 40-hour work week. 

 

 

When you’re totaling up your life insurance financial protection needs, it’s easy to focus only on income replacement. But, don’t forget to include the additional value that both stay-at-home and working moms provide to the household.

 

Want to figure out your value as a stay-at-home or working mom? Check out this fun calculator from Salary.com!

 

*Source: http://www.salary.com/2013-mom-infographics/

Women’s History Month

 

March is Women’s History Month. So, what better time to start talking about the many different financial needs women have? Whether it’s death benefit protection for your loved ones, retirement planning for your future, or sending your kids to college, life insurance can play an important role in addressing your financial needs.
 

According to a recent study, women are the sole or primary breadwinner in about 40% of U.S. households with children under the age of 18—that’s 4 in 10 households across America. Yet, women continue to overlook life insurance as part of their financial plans. In fact, compared to men, women who have life insurance only have 69% of the average coverage that men do.
 

Make sure you’re protecting your family by getting adequate life insurance coverage to meet your family’s needs.
 

Not sure how much coverage you need? Check out this needs calculator from the LIFE Foundation.  

According to IALC - Study Shows Boomers Still Not Prepared for Retirement

 

 

In a recent article from the Indexed Annuity Leadership Council (IALC), financial forecasters and retirement experts have warned about the looming retirement crisis in America and one thing is abundantly clear: many Americans are not prioritizing their retirement savings. According to a recent study by Fidelity Investments, only 45 percent of Baby Boomers are saving enough to cover their basic retirement costs, including just housing, health care and food. Read more!

When Cupid’s Arrow Finds its Mark…

Cupid’s up to no good in this video from the LIFE Foundation! Watch and share:

 

 

Plan Ahead to Protect Your Spouse

Does your spouse have life insurance? Do you know how much he or she has? Take a moment to think about what kinds of expenses you would be responsible for if he or she were to suddenly be out of the picture. It’s not just about end-of-life expenses. Your day-to-day cost of living, a child’s tuition expenses, or medical bills can pile up when you lose a loved one.


Check out this statistic from the LIFE Foundation, and then take a look at how you and your spouse can protect one another with life insurance.

 

 

Insure Your Love

With Valentine’s Day approaching, the month of February has a lot of people thinking about love. What would you do for the ones you love? While chocolates and flowers are nice, consider giving a gift that can truly impact the lives of your loved ones—the protection of life insurance.
 

 

Life insurance and romance don’t necessarily go hand-in-hand, but what better way to say “I love you” than to provide your family with the lasting financial protection life insurance can offer? 

 

Give the gift of financial protection to your loved ones. Contact your Midland National representative to get started. 
 

New Year. New Needs.


What’s changed in your life over the past year? It may be time to review your financial needs! Watch our video to learn more.

 

 

  

5 Tips for Keeping Your New Year’s Resolutions

 

Only 8% of people actually keep their New Year’s resolutions! Use these tips to keep yourself on track this year. 

 

1.  Be reasonable.
Sometimes ideas that seem like minor adjustments, like changing your diet and exercise habits or getting more organized, can be more life-altering than you think. According to social scientist and Stanford University behavior researcher B.J. Fogg, PhD, taking baby steps is the most effective way to create long-lasting change. It’s more about creating small changes in your already existing routine than setting drastic, unreasonable goals. 

 

2.  Be specific.  
Setting goals like “losing weight” or “eating healthier” can be a little too vague to really hold yourself accountable for. Instead, create measurable goals, whether that’s a goal weight by a specific date or following a particular diet. Maybe your goal is to be more organized, or to decrease stress. If so, set aside a specific amount of time to devote to your goal. Give yourself ten extra minutes every morning to feel less rushed (remember—we’re starting small), or one hour a week devoted to a relaxing activity like yoga, for example.   

 

3.Create a plan.
Once you have your resolution scaled to reasonable, specific steps, create an action plan that puts them into place. Is it a shopping list? An exercise schedule? Making a to-do list? Whatever your goal is, don’t just wing it—create a roadmap to help you get there.  

 

4.  Get support.
Willpower is certainly important, but sometimes it’s not enough. Between managing work, a family, and a household (i.e., your life), making changes may require some flexibility from others who are a part of your routine. Telling your family and friends “I need your support” is the first step in actually gaining their support. Also, when making significant health changes like quitting smoking, dieting, or exercising, seeking the advice of your doctor or other professionals is a great idea.

 

5.  Try, try again.
Finally, if you falter or even fail to stick to your resolution, remember that you’re not the first person in history to do so. As the old saying goes, “if at first you don’t succeed try, try again.” Just don’t wait until next January! Try now.

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