Guaranty Association Benefits Company

The reality of the "new" retirement -

Are you ready to face retirement? According to a recent study by Merrill Lynch, "Americans on new retirement realities Outlook and longevity bonus," most of the baby boomers prefer peace of mind over the accumulation of wealth and seek to reinvent itself retirement.

The Merrill Lynch survey found that today's retirees expect to live longer and work longer than previous generations, and seek advice in this is uncharted territory.

Thirty-nine percent of survey should include the part-time work in their retirement years, and 24% for mixing stretches of work with periods of recreation. Forty-eight percent said they would work to just retreat

Fifty-two percent of people in the survey should provide their adult children with some form of ongoing support "and stimulation Satisfaction."; 35% of respondents would give support to their grandchildren, 16% to a parent or parent-in-law and 10% to a brother or brother-in-law.

Asked what was important to pass on to future generations, 74% of respondents said their top priorities were the values ​​and life lessons. Passing on the financial and real estate assets was a priority for 32%.

serious health problems have been a major concern for 72% of respondents, with 60% saying they do not want to burden their families, while 47% were worried about running out of money to live comfortably. At the same time, health care costs were financial worries 1 for retirement for 52% of respondents with investable assets above $ 250,000 and 37% of the poorest respondents.

A popular belief is that people today are delaying retirement, but the survey found that 59% of men and 57% of women had taken early retirement. For those who took early retirement, 34% said the main reason was a personal health problem, 27% for early retirement because they had enough money to retire, and 24% had lost their jobs .

An interesting finding is that only a third of large companies now offer health benefits to retirees over two thirds 25 years ago. As a result, retirees seeking advice on how to protect against retirement health costs, with 75% of respondents say they need help in sorting in health care and long term care options. Just behind, 71% wanted help to understand the social security or employer pension.

So, let's put it all in perspective. What the survey points out that pre- and post-retirees still need professional advice to make appropriate decisions. Before age 65, this means understanding the disability insurance needs, life insurance and assurance of long-term care.

After 65 years, most disability insurance is no longer available, but the need for life insurance to replace lost income continues, as the need to plan healthcare for diseases debilitating disease that may require care at home or in a facility.

Some 10,000 people a day reach the age of 65 and that number will continue the next 17 years. Many of these people will risk the longevity risk of outliving their money. Now is the time to plan using appropriate methods and products to minimize this risk.

Talk to your agent or professional advisor today.

financial literacy and student-Why It Matters -

Very quickly, your high school will go to college. And while you have provided your son or daughter with instructions dorm room equipment, kitchen and laundry last minute and needed a generous supply of pantry items for meals-on-the- go, have you had that very important to talk with your child?

no, not that a that of money, finance and the use of credit cards. For many college-age students, the focus of the next four years will probably be on the school solvency. So they know that higher education comes at a price, they imagine they are going to worry about pesky student loans later, once they are out of school and into the workforce.

But the reality may be far from rosy. According to a story from the Associated Press, more than half of BA graduates under the age of 25 were unemployed or underemployed in 2011, the highest share in at least 11 years. When you consider that the payments of student loans will come in postgraduate reason and 64% of Millennials financed their education up to a total of student debt that exceeded $ 1 trillion at the end of 2012, according to financial protection consumer Bureau-it is not surprising that the debt burden carried by Geny-ers today is their greatest financial concern.

And along those same lines, a Wells Fargo survey showed that the Millennials believe that financial literacy should be taught, either in high school or college or by parents . But even if you have not discussed this, it is not too late. LIFE has tools to help you help your child become financially aware.

Start with the resources available on the next generation website . The site offers a range of free resources focusing on five key areas of risk, life insurance, health insurance, disability insurance and financial planning and includes quizzes, family activities, glossaries with terms and phrases related to insurance and financial planning, and a video library.

Then explore the materials on the LIFE website, such as life lessons videos (such as those about Brittney LaCombe and Jermaine Suggs and realLIFEstories like about Missy Junk customize role insurance plays in. protect the future of the family, especially the section for single focuses on three key areas :. controlling debt, save money and protect the assets and income with insurance

living calculators, such as life insurance needs calculator, can you and your students useful information on how to assess their need for coverage and potential risks, while this blog offers short articles on the role of planning and provide financial assurance.

Finally, involve your students in discussions on family budgets and finance, and inform them of your meetings with insurance professionals. They will learn to make decisions about insurance coverage and investment, which will provide them with useful information when they need to make the same decisions and choices.

My Journey to Freedom Debt -

Marshall shares her story under the sponsorship LIFE Movement of debt, which aims to help people pay their debt . There is $ 2,000 of debt LIFE scholarship recipient. LIFE encourages people taking personal financial responsibility and debt reduction is a big step towards this goal. -Editors

My journey of debt is not a personal trip but an adventure with my beautiful wife, Sarah, and our three beautiful children as Tatum, Caleb and Emma. I am 37 years old and married for 15 years. I went into the different levels of debt since I was 17. I brought this debt in our marriage and continued to aggravate the problem by accumulating additional debt. My debt problems have become our problems of debt, and we continued to live beyond our means.

This has been our history for the past 20 years. I moved my first debt, owing $ 3,000 on a 1987 Pontiac Firebird, the accumulation of more than $ 65,000 of debt in credit cards, auto loans, student loans and the family debts. In the past, we have made several efforts to get out of debt, but we have lacked focus and intensity. We also lacked discipline and never attempted to reconcile what we won with what we had. This includes our days a week to a month to life in the year. Every day a little worse than the last.

There was no hope. I felt a huge responsibility for jeopardizing the future of my family and mortgaging away tomorrow for a taste of satisfaction today. I could never see a day when we can retire, travel, pay cash for a vehicle, the owner of our house or college finance. There was not a day we would know predictable financial freedom.

One of "Those" Days

I had a particularly memorable moment ago about 18 months. I remember having "one of those days" when things seemed to accumulate against me. I sat down to collect my thoughts and how we were going to get through another situation where money is abandoned before the end of the month. As I thought, my inner dialogue said, "Hey Marshal Look around Right now, you make more money than you have ever done and you still have the same old problems you had when you! were a kid in college broke! "I remember feeling somewhat stupid as I thought about the situation. I do not act on it right away and we continued to struggle along for about six weeks.

Shortly after, I met with some friends. They were discussing something that I had never considered. To put it simply, they borrow money. I did not think it was possible. After all, we have never been able to save money and I knew that our bills looked like. They suggested a book for me to read. As I read, I was floored. I did not know this way of life was possible. I tend to be skeptical, and I wanted more I pursued more books, six in all. Some of the books were based on faith and others not, but they all told the same story. It was the same thing my story and I'm ready to be debt free.

Get my wife on board

I might have been ready, but Sarah was not as convinced. She was understandably nervous, after all the debt is all we've ever known. It took a lot of discussions to decide that cut our credit cards was a good idea. We have cut and promised that the credit has no place in our future. This was a first for us, about our future in absolute terms. Suddenly our future was not a "date" dream; there was a specific date. In two years, we would be able to do "this" and in five years we could save enough to "it." We began to calculate when we would be debt free. It was so exciting and I remember crying with emotion.

We presented our plan and we started. We saved $ 1000 for emergencies. It took less than two weeks to put this money aside. It was the first time we ever designated the money for an emergency, and I suddenly understood why we do not need more credit cards. It is amazing how such a small amount of money could have a dramatic impact.

working our plan

It took about two months to pay the balance credit card first. It was a liberating experience, and I immediately closed the account. We continued on this path, the repayment of our car, another credit card and line of credit. The numbers almost do not stack. We were so focused and devote every extra penny for the repayment of debt. That's where we are today.

Yesterday, the final payment was made on our last credit card account is being closed. We still have about $ 25,000 in student loans and smaller family debts to repay. We are laser focused on our plan and safely on a path for those paid in December 2013. We can miss this, but it will not be much of 2014 and will be our year debt free.

I have not really allowed myself to dream about our debt free day again. I do not know when we get there, I'm ready for this challenge. I can not wait for the day we begin to save for retirement, the financing of an emergency fund of several months, saving for the college education of our children, and to start paying our mortgage. I do not know what happens beyond that, but I am very happy to know!

Lessons Learned

I would be remiss if I did not take the time to mention some other points. First, the most important lesson I learned on this trip is to say "no." This was an extremely powerful tool in our battle debt and overflowed into other parts of my life. I lost over forty pounds in not telling me.

He taught me to have more patience with Sarah and our children, which has strengthened our relationship. And it allowed me to enjoy my work more than ever! It allowed me to enjoy other people and generally have a brighter appearance to life. Our children have noticed the changes and it has a positive impact on the way they perceive finance. It is amazing how good decision making is contagious! Finally, I believe in all that God has placed people and events in my life which has influenced my decision and took me to this path. This short story does not cover all the details of our experience, but there are so many things that can not be explained as a coincidence. I can not tell this story without saying thank you to God.

I think my story does not seem very different from hundreds of other stories of freedom of debt. I agree with that. We won freedom beyond imagination and hope that our story can become a testimony for others to explore their own debt situation of and experience of the liberation of debt freedom.

Boomer Shares His Eisason life lesson During the life insurance awareness month -

Imagine this scenario: Two teenagers and a 7 year old suddenly a single parent when their mother died of cancer. Their father is doing his best, but three hours round trip to work, it is difficult to be there as much as he wants for his children. And the fight is not only one of the time because the mother of the child had no life insurance, no money available to pay the extra help they need to take care of all these responsibilities and duties that once handled.

For Boomer Esiason, a former NFL MVP quarterback and now a seasoned radio broadcaster and television, this scenario was too real. He was 7 years old who saw his father, Norman, struggle to manage the dual responsibility of being the only parent and breadwinner. "They gave me a life lesson early," Boomer said. "It was not the easiest life of my father sacrificed a lot."

Unfortunately, Boomer circumstances are too real for many other households where a key supplier of the family died and that being under or uninsured, close left reeling from the emotional loss and financial hardship. statistics show that only 44% of households have individual life insurance, which, combined with a reduction in the number of consumers with group insurance, leaving about a third of people without insurance at all. And a third of those with life insurance do not think they have enough

which group do you belong :. the the underinsured or uninsured group lucky enough insurance to ensure that would be left behind? If you're not sure, then this month, which is life insurance awareness month is the ideal time to conduct an assessment of the insurance.

where to start

Make a list of your current insurance coverage and individual life group, the amount of benefits for each type and your total coverage. (Hint :. This is also a good time to make sure your beneficiary information is updated)

Then use the life insurance life needs calculator to determine how much your family will need when you are gone, not only to pay final expenses, but also future income is needed to support the household. (Note: Even if you are not financially contribute to the household for example, you can be a parent, your role is in the home has a dollar value if you are not there, chances are that someone one would have to. be hired to manage part or all of the responsibilities that fell under your jurisdiction.)

Surprised by the amount of the calculator recommends should be provided for? Many people are! Now it's time to call an insurance professional who can advise you on the best type of life insurance to buy to meet your needs and goals:

• the term life insurance provides protection for a specific period of time ( "term") - from one to 30 years with 20 years as Commonwealth and generally pays a benefit only if you die during the
• permanent "term." life insurance provides lifetime protection while providing the ability to accumulate cash value on a tax-deferred basis, and remain in force as long as premiums are paid. Permanent insurance includes whole life, variable universal life and variable universal life life.

Your insurance advisor can also recommend some options and riders to consider such as accelerated death benefits and advise you on medical tests will be needed before the policy is in force.

Make sure you understand all the options, the cost of your premiums and the amount of benefits of the policy. As for naming beneficiaries, the following suggestions may be helpful :.

• name always one "contingent" or secondary beneficiary, just in case you Outlive your primary beneficiary
• When naming beneficiaries, be precise to avoid confusion and ensure that the person received the amount of the benefit.
• Select a specific beneficiary, rather than having the proceeds of your life insurance paid to your estate. This allows the recipient to access funds immediately, rather than waiting until the policy requires approval with the rest of your assets.

Be intelligent life insurance. Use Life Insurance Awareness Month to ensure that you do everything you can to protect those you love!

Get Your Medical Information organized -

October is the Month Organize your medical information, month to get all your medical information and related documents in a single, easy to find location.

Why is this important? Imagine this scenario: There was an accident and you are unconscious and on the way to the hospital. You can not provide the medical team with information about your condition, medications you take or doctors who provide your care. And the family member, spouse, brother, parent, or child who has to rush to your side is so distraught that he or she can not remember the answers to these questions of crucial importance.

Sometimes-more often we can achieve. And when it happens to us or someone we love, we realize the importance of having all these details updated and accessible in an emergency.

Like the slogan LIFE Foundation said, life goes on, and that no one can avoid these types of events, these practical tips, techniques and strategies can make a difficult situation a little less stressful.

This October, make it a priority to get medical information organized for each family member. It will definitely be worth if and when life happens!

Think ICE. No, we do not want frozen water, but ICE as in "In Case of Emergency" - the designation for the people in your life who can answer at least some basic questions about you and your health. If you are unable to speak for yourself, emergency personnel might refer to your phone to find someone who can and having some people listed as your ICE contacts can save time and provide valuable information

How do .: in the list of contacts in your cell phone, identifying members and / or family friends with the key ICE designation before their name: "ICE My Son Joe" or "ICE Mom." also include the name of your doctors- "ICE Dr. Smith, a cardiologist." (for more details, visit this page WebMD.) While you're at it, print the names and ICE numbers and keep them in your wallet, just in case!

Create a health profile. in an ideal world, we would follow our medical records from birth to the end, with each doctor who crosses our path with access to the history of our health. but this is the reality. people change doctors, practices close, records are lost. It is for you to keep this flow of information. This allows your current doctor and emergency personnel with important information that could be relevant to the problem you are having at the moment

How :. Enter the following information and the relevant dates: all surgeries or treatments significantly, conditions or illnesses that you have been diagnosed in the past or currently have, and food or environmental allergies you have. Make a second list that details the diseases or health problems of members of the immediate family were, in case there might be a genetic component. (For more information, see this article LifeOrganizers.com.)

List your "drug regime." In an emergency, it is important that medical staff know what medication or supplements for sale free as you take on a regular basis. This may help prevent drug interactions that could prove dangerous or even life threatening

How :. Enter the following information for each prescription and the medicines on sale free as well as vitamins, minerals or herbal supplements you take on a regular basis: the name (brand and generic, if applicable), the dosage amount and frequency, the name of the doctor who prescribed and why the medication (what state it is). also note if you eat large amounts of a specific food, in the case that may affect your health or results of specific laboratory.

Please fill out legal documents. There are two key documents that relate to your health: a living will and a power of health care attorney. The first covers your wishes regarding medical treatment you want to receive or refuse and under what conditions. The second gives a spouse, family member or trusted friend the right to make health care decisions for you if you are unable to do so. (Go to this page LIFE for details.)

How: You can prepare the documents yourself or a lawyer to prepare for you. This page AARP provides links to forms for each state. Download the form for your state and to complete it. It is a good idea to give the person designated a copy of the documents so they are prepared for emergencies.

Compile your insurance information. Home and auto insurance, life, health insurance and disability, these policies are part of the benefits of membership or are for specific diseases, it is not uncommon to have several policies that offer different benefits or apply single case, which makes it even more important to have a current inventory of them.

How to. Join all your current insurance policies (policy type and number) of the company and contact information of your agents and, if necessary, the beneficiary (s). Store the actual policies in a fireproof box or safe at home, and keep a copy of the policy or at least the page statements and the inventory list offsite (with another family member , your lawyer or executor, for example).

now, you can be easier, knowing that you have all your important information organized.

Nobody wants to Think About Long-Term Care, but here's why you should -

OK, it's time to stop putting the inevitable: think about who will take care of you when you can not take care of you.

is Long Term Care Insurance Awareness Month, making it the "excuse" perfect for exploring something that nobody wants to think about, but we all need. Keep in mind that, according to government statistics, 70% of people will need some type of long-term care after age 65

Here is a comprehensive overview of insurance care this term is and why people bought-from those who have it. Take a few minutes to watch:

The bottom line: the long-term care insurance helps to ensure you will have access to high quality care should you require it. And using insurance to pay for care also means that you will not need to choose between getting the help you need and spending down savings of your life.

Add your agent or advisor a call and get the conversation started.

All the Best -

What a year it was. We are so happy that so many of you come to the blog, read, comment, share and contribute. To end the year, we wanted to share some of the best messages on insurance keyword positions that stimulated strong opinions, comments and many points of view. Enjoy if you have not already seen.

The LIFE family wishes you and your family all the best for the holidays and the coming year!

Woops, do not let your life insurance policy lapse

Everyone knows that sinking feeling when you realize you Forgot to take care of one important point. It could be something as minor as forgetting to set the DVR for your favorite reality show. Or maybe something important, like leaving home with a pot of boiling water on the stove. As a quick punch to the gut, the panic hits you like no other. I felt the same sense of panic when I realized I had left my lapse life insurance policy. Learn more.

The real cost of being uninsured

It can be difficult to find the money to insure against a future event possible, such as serious illness or 'debilitating accident when you face actual spending or face insufficient income right now. It can be tempting to cross your fingers and hope for the best, with assurance "treat later" list. But before you do this, you need to know the true cost of being insured. In Learn more.

20 reasons why you may need life insurance after 60

your children are grown and gone. The mortgage is paid. you minimal debt. why someone 60 or older consider buying permanent life insurance? Here are 20 reasons why you might want to rethink your decision to get rid of your coverage. Learn more.

Protect your children now and for the future

your whole goal as a parent is to ensure that your children navigate the space between birth and adulthood as well protected as possible, but an item may be missing from your "must have" list. life insurance. While parents usually buy life insurance for themselves for the first time, or increase the amount of existing policies when they add new members to their family, they may neglect ensure these new additions with a policy of their own. Learn more.