Newlyweds Financial To Do List

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Posted on 24th July 2013 by Rita in FREE Consumer Guides

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newlywed financial to do list

There are many details newlyweds need to tend to after the wedding excitement dies down. Since the majority of newlyweds are combining households and finances a financial to do list is a must. Below you will find a list for this task, you can also click on the image (left) if you would like to print it out.

Change Beneficiaries: If you want your spouse to own these assets should something happen to you It would be wise to go through all of your insurance policies (LIFE, health, auto, home owners), investment accounts, savings accounts, 401(k) plans, IRAs, and any other accounts and (more…)

Do you have your “Replacement Income” Set Up?

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Posted on 11th June 2013 by Rita in FREE Consumer Guides |How To's of Life Insurance |Life Insurance

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Single income or double income household? Which ever your case is, have you thought about what would happen if this income was no longer available? Most likely it would be devastating. Very few of us take time to think about what will happen if the an income earner dies. It is not one of the most pleasant tasks in life but it is a necessary one.

If others depend on your income, proper planning is a MUST and will remove the financial devastation for your loved ones. With others depending on you it would be wise to take some time and learn about protecting the loss of income through life insurance. It may surprise you, that with relatively a small annual premium you can give an effective means of financial support for your loved ones.

 Providing for your loved ones… may be one of the most important investments you will ever make.

Life insurance is one of those very important purchases you make during your lifetime. If a tragedy happens, life insurance proceeds can help replace lost income. With the right insurance coverage your loved ones will not worry about their immediate and future finances. Life insurance serves as the foundation for a family’s financial security and is one of the few things that will give assurance during a difficult time.

One Income Family: When the family’s main breadwinner dies, the survivors still have living expenses and possibly other debt. With a one income family it is essential that the main breadwinner have enough life insurance to cover the missing income.

Two Income Family: If one of the income earners in a two income family dies, the amount of life insurance needed should equal the amount of the lost income in order to support the same standard of living. Life insurance is an invaluable way to protect the future income needs of your family.

Speak with an agent to learn about the options available to you. Agents are trained to evaluate your needs, offer unbiased advice and support during difficult times. Independent agents will be able to access insurance coverage from multiple carriers, which in-turn provides you with the best options for prices and savings.


ABOUT NORTH COAST LIFE INSURANCE
Established in 1965 in Spokane, WA. North Coast Life Insurance Company (NCL) is focused on providing solutions for you and those you love most. Experience genuine personal service while receiving guidance on all your insurance needs.
Note: This blog is designed for general information purposes only. All information presented on this site should not be interpreted as legal advice and the author assumes no responsibility or liability for the actions taken or not taken by the readers based upon such information. For legal and tax advice contact your attorney or tax adviser.
Rita Sollie, Direct Insurance Representative with North Coast Life Insurance Company (NCL). Providing solutions for your financial needs. INSTANT Term-Life Quote: www.insureyourfamily.com
Prefer to speak with a local financial representative? Call or email your request and you will be connected with a representative in your area.
Contact info: Phone: 800.541.5858 Email: rita.sollie@nclife.com or Live Chat below.

Is Your Business At Risk?

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Posted on 3rd October 2011 by Rita in FREE Consumer Guides |How To's of Life Insurance

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Many successful businesses are closely held between two or more owners. What happens to these businesses if one of the owners prematurely dies? Will the business continue? Usually the remaining owner(s) often mange the business successfully. However, without having the financial ability to acquire the deceased owner’s share of the business from the estate or heirs, may prove to be a problem without a plan in place.

Unfortunately many business have evaporated upon the owners death simply because there was not a (more…)

Providing Higher Education with Life Insurance

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Posted on 28th September 2011 by Rita in FREE Consumer Guides |How To's of Life Insurance

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As parents we do all we can to provide our children with opportunities to succeed. If the unexpected occurs, the death benefit proceeds from a Life Insurance policy can be used to fund College or other higher educational schooling.

A 2012 Bloomberg report finds that the cost of college tuition has soared 12 fold in 30 years. The same report shares some grim news that this rate has outpaced the price of inflation on consumer goods, medical expense and food. Most of us know that College Tuition is expensive, but with these staggering findings it may put a bit more urgency in protecting this opportunity for our children.

When there is a policy in place to cover your child’s college tuition should there be a pre-mature death, the surviving spouse and child(ren) will not endure this financial burden. Many variations are available for obtaining college tuition insurance coverage. You may feel it is best to have this coverage from the time your child(ren) are born or you may decide it is better to have a term policy only during the time your child(ren) are in college.

What ever is best for your personal situation, talking with your insurance representative about the different options available is the first step. Continuing to provide opportunities of success for your children with life insurance proceeds can make one of the biggest differences in their lives.


Note: This blog is designed for general information purposes only. All information presented on this site should not be interpreted as legal advice and the author assumes no responsibility or liability for the actions taken or not taken by the readers based upon such information. For legal and tax advice contact your attorney or tax adviser.
Rita Sollie, Direct Insurance Representative with North Coast Life Insurance Company (NCL). No gimmicks or schemes here, just genuine and honest service. We don’t sell insurance, we solve problems. I welcome the opportunity to show you what NCL can do for your Life Insurance and Financial needs.
View INSTANT Term-Life Quote: www.insureyourfamily.com
If you prefer to speak with a local financial representative, call or email your request and you will be connected with a representative in your area.
Contact info: Phone: 800.541.5858 Email: rita.sollie@nclife.com or Live Chat below.

Death Taxes – Will You or Your Loved Ones be Affected?

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Posted on 14th September 2011 by Rita in FREE Consumer Guides |How To's of Life Insurance |Life Insurance

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Death Taxes – aka: Estate Tax, Federal Estate Tax, and Inheritance Tax

In the United States a taxable estate is generally the value of everything owned or have certain interest in at the time of death, minus deductions, such as funeral expense.

Benjamin Franklin once wrote: “In this world nothing can be said to be certain, except death and taxes.”

As the saying goes… you are Taxed when you are coming and Taxed when you are going.

Estate tax rates vary between 37% to 55%, depending on each individual.

Beneficiaries of life insurance proceeds may be required to pay estate tax attributable to the death proceeds, in either of the two following circumstances:

  • The decedent/insured has directed in his/her will that the life insurance beneficiary pay the share of death taxes attributable to the proceeds.

  • The state of the decedent’s domicile has a statue that apportions the burden of death taxes among probate and non-probate beneficiaries in absence of any direction from the decedent regarding where the burden of death taxes should fall.

Resources on this subject:

mystatewill.com gives a great answer to the question: Is life insurance subject to the Federal estate tax?

http://www.mystatewill.com/info_files/life_ins_fed_estate_tax.htm

Tax Laws change often, which means It’s always best to view the IRS.gov site under Estate and Gift Taxes for the current laws.

FAQ’s Estate Taxes

http://www.irs.gov/businesses/small/article/0,,id=108143,00.html

Bulletin No. 2003-17 April 28, 2003

page 8 (search 2042)

http://www.irs.gov/pub/irs-irbs/irb03-17.pdf

Bulletin No. 1996-7 February 12, 1996

Estate Tax, page 16

page 24 (search 2042)

http://www.irs.gov/pub/irs-irbs/irb96-07.pdf


Note: This blog is designed for general information purposes only. All information presented on this site should not be interpreted as legal advice and the author assumes no responsibility or liability for the actions taken or not taken by the readers based upon such information. For legal and tax advice contact your attorney or tax adviser.
Rita Sollie, Direct Insurance Representative with North Coast Life Insurance Company (NCL). No gimmicks or schemes here, just genuine and honest service. We don’t sell insurance, we solve problems. I welcome the opportunity to show you what NCL can do for your Life Insurance and Financial needs.
View INSTANT Term-Life Quote: www.insureyourfamily.com
If you prefer to speak with a local financial representative, call or email your request and you will be connected with a representative in your area.
Contact info: Phone: 800.541.5858 Email: rita.sollie@nclife.com or Live Chat below.