by NFS | Sep 22, 2013 | Archives
No one knows what the future holds. Hopefully, only good things are in store for you.
But realistically, bad things will happen too.
Even if you don’t consider yourself a cautious person, you take little steps every day to improve the odds that good things will happen and guard against the possibility of bad things happening.
You wear seat belts.
You lock your doors when you leave home.
You try to eat well and exercise.
In other words, you may not be able to control the future, but you can stand up to it. You don’t have to get wet when it rains. You can carry an umbrella.
True, it’s easy to take these little steps. The bigger steps, though, can require contemplating some pretty unpleasant things.
What would happen to your family if you became ill or injured and couldn’t work? Or, worse yet, if you died? Or if your spouse died?
Standing up to the future means making sure you and your family can carry on, even in the face of a disaster. That’s where life insurance and other forms of insurance come in.
Life insurance won’t guarantee you’ll never face a tragic situation, just as wearing a seat belt won’t keep you from crashing your car. But it will provide your family with financial protection. And whatever hopes and dreams you have for your loved ones can still be realized, even if the worst were to happen.
That’s why we say LIFE Happens. It really does. No matter what the future throws at you. September is Life Insurance Awareness Month and we here at Northeast Financial Strategies are offering Complimentary Life Insurance Reviews – contact us for your appointment now!
by NFS | Sep 19, 2013 | Archives
So, why do you need life insurance?
What often comes to mind when thinking about life insurance is that you can use it to pay final expenses. You’ve seen the commercials: Funeral expenses, burial costs and medical bills can add up to a hefty amount. The last thing you want is for your loved ones to shoulder this extra burden. Life insurance can be used to plan for these final expenses. Permanent life insurance is available in various amounts, so you can pick a death benefit that meets your needs.
But there are other considerations to keep in mind. You can use life insurance …
As mortgage protection. Whether you live by yourself, with a spouse or significant other, you may want to buy life insurance as mortgage protection. Think about it: You don’t want the person you live with to be homeless if you die unexpectedly, do you? Term life insurance can be used to pay off an outstanding mortgage balance. Just select a term that matches the length of your mortgage payment period. Some companies even offer decreasing term insurance, which means the death benefit decreases along with your mortgage balance.
For income replacement. You and your significant other may have planned for a future based on two incomes, but what if one of you passes away unexpectedly? Life insurance can be used to replace the lost income so the survivor can maintain the same standard of living.
For college funding. Yeah, I know. You don’t have kids, so this one only applies if you do or if you have grandchildren you want to help. Have you seen the tuition rates lately? Life insurance can help fund a college education. If you die, the death benefit may be invested and potentially grow to the needed amount by the time your children or grandchildren reach college age. If you have permanent policies, the cash value may be used to help fund tuition costs. Feel better knowing that you helped prepare for their future—even if you are not there to see it.
There are also a few provisions—additional benefits, if you will—that you may not be aware of.
Probate protection. If the beneficiary of a life insurance policy is a named person and not your estate, the death benefit is free from probate costs.
Incontestability. After the policy has been in force for two years, it becomes incontestable, meaning that the policy cannot be revoked, unless it was fraudulently obtained.
Free from the claims of creditors. In many states, the cash values of the life insurance policy are free from the claims of creditors if the policy is personally owned.
So, are you starting to see the need for life insurance? You will call me right now, right? The number is 800-560-4637 x14. Don’t put it off! Remember, the younger you are when you get insurance, the lower the cost and the easier it is to get approved.
by NFS | Sep 19, 2013 | Archives
This is the award winning video created by Jeffrey Schweitzer of NFS-Northeast Financial Strategies for Life Insurance Awareness Month back in September 2011.
by NFS | Sep 17, 2013 | Archives
If you are asking yourself why you should buy life insurance, here are some reasons why some of our other
clients have bought life insurance….
For the Death Benefit:
- To replace earning power at death
- To pay for cash needs that arise at death
As a Disciplined Savings Program*:
- To help pay for educational costs
- To supplement retirement income
- To take advantage of business opportunities
- For Financial Emergencies
Because of the Risk of Waiting:
- To replace earning power at death
- To pay for cash needs that arise at death
For the Tax Advantages:
- Death proceeds are received free of income tax
- Cash value accumulations are tax deferred
- Cash value loans or withdrawals* are free of tax, as long as the policy stays in force
- Accelerated death benefits are received free of income tax
In Recognition of Personal Responsibility to:
- Family
- Banker
- Mortgage company
For the Flexibility:
- Benefits may be available regardless of whether the policyowner lives, quits, dies or becomes disabled
- Life insurance is portable; benefits are not lost due to job changes
* Withdrawals and loans will reduce the policy’s death benefit and cash value available for use.
Please call us here at Northeast Financial Strategies for an appointment if we can assist in evaluating your life insurance needs. Remember, September is LIFE INSURANCE AWARENESS MONTH!
by NFS | Sep 16, 2013 | Archives
WASHINGTON DC –– The Internal Revenue Service is providing tax relief to individual and business
taxpayers impacted by severe storms, flooding, landslides and mudslides in Colorado.
The IRS announced today that certain taxpayers in the counties of Adams, Boulder, Larimer and Weld will receive tax relief, and other locations may be added in coming days following additional damage assessments by the Federal Emergency Management Agency (FEMA).
The tax relief postpones certain tax filing and payment deadlines to Dec. 2, 2013. It includes corporations and businesses that previously obtained an extension until Sept. 16, 2013, to file their 2012 returns and individuals and businesses that received a similar extension until Oct. 15. It also includes the estimated tax payment for the third quarter of 2013, which would normally be due Sept. 16.
The IRS automatically identifies taxpayers located in the covered disaster area and applies automatic filing and payment relief. But affected taxpayers who reside or have a business located outside the covered disaster area must call the IRS disaster hotline at 866-562-5227 to request this tax relief.
Practitioners located in the covered disaster area who maintain records necessary to meet a filing or payment deadline for multiple taxpayers outside the disaster area may contact the IRS to identify such clients using the procedures described on the IRS website.
Full details, including information on how to claim a disaster loss by amending a prior-year tax return, can be found in IRS.gov. The IRS encourages taxpayers and tax practitioners to monitor the Tax Relief in Disaster Situations in IRS.gov for updates.
by NFS | Sep 10, 2013 | Archives
September 11th, 2001 changed the lives of many. Never forget that terrible day when we lost over 3000 of our family and friends in the tragic events.
