Why Life Insurance

Due to the increasingly difficult financial position of federal programs and the challenges that employers face in establishing and maintaining pension and profit sharing plans, it is more and more important for you to depend on your own personal savings efforts for retirement.

The retirement benefits offered under Social Security are also at risk because of:
Changing demographics: In the 1960s, there were five workers paying taxes for every person receiving benefits. Today, that ratio is nearly 3:1.

The law governing benefit amounts
may change because, by 2037, the payroll taxes collected will only be enough to pay about 76 of scheduled benefits.

U.S. National Debt: A time bomb that is ticking:

• The federal budget deficit for 2009 is expected to exceed $1.8 billion.

• Federal debt, not including unfunded future liabilities, is over $11.3 trillion.

• Total federal debt, including the present value of future liabilities for programs like Social Security and Medicare, is over $59 trillion.

• Total federal debt as a percentage of gross domestic product is more than 240%. That is more than twice the ratio of debt: GDP our country had after World War II.
One or two generations ago, it was common for an employee to have access to a type of pension known as a defined benefit plan.
In 1978, there were 128,041 of those plans in the us. Today, there are less than 26,000 - and the numbers are getting fewer and fewer every year.

Source: Empoyee Benefit Research Insitiute  http://www.aflcio.org/lissues/retirementsecutiry/definedbenefitpensions/

Today most empoyers offer what are known as defined contribution plans.
With the economic recession of2007 - 2009, defined contribution plans' values have been decimated.

Source: Employee Benefit Research Institute

Over $1 trillion dollars have been lost as result of market losses. Another $1 trillion dollars were lost as a result of employees having to change jobs.

Source: Huntingtonnews.net - Date 5/22/2009
"Losses from 401(k) Plans Make Bernie MadoffLook Like a Piker"

Defined benefit plan: Those plans paid retiring employees a fixed amount of money every year, often a percentage of salary based on years of employment, for life.
Defined contribution plan: In these plans, an employer won't promise you a particular income at retirement. Instead, they will place money into an account and give you the choice in how to invest it. A common example of this type of plan is a 401(k) plan.

A large portion of your retirement depends on your ability to save.
Lifetime earnings up to age 65 if your income averages ...











































Personal Line

Personal lines simply means insurance that is designed for personal use. Insurance companies sell these policies to individuals, to reimburse them for losses or damage to their possessions or to protect them from liability.

Business Line

Insurance coverage that protects businesses from losses due to events that may occur during the normal course of business. There are many types of insurance for businesses including coverage for property damage, legal liability and employee-related risks. Companies evaluate their insurance needs based on potential risks, which can vary depending on the type of environment in which the company operates.

Retirement & Life

A protection against the loss of income that would result if the insured passed away. The named beneficiary receives the proceeds and is thereby safeguarded from the financial impact of the death of the insured.

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