Below are brief summaries of some of the topics that may arise as we
explore your long- and short-term financial goals. The information
will give you something to consider as you prepare for our initial
review.
Accumulating Retirement Assets Retirement can signify a lot of
things to a
lot of people: sailing off into the sunset with your beloved; never
having to worry about waking up early to catch the morning train;
finger-painting with your grandkids. But to make these dreams a reality,
you'll need to create a nest egg that will make your retirement years
as comfortable, if not more,as when you were working. Essentially,
it's never too early to think about saving for your golden years. As
the average lifespan increases, you should be prepared to put aside
more to accommodate a longer retirement.
At New York Life, we understand the importance of having enough to spend
during your retirement. That’s why we offer a variety of insurance and
financial products that can help you fund your retirement, and make the
money you’ve worked for years to save go even further.
Charitable Giving: The 10 Advantages Of Donating Life Insurance Proceeds
Your Gift Is Maximized. In addition to your current outright gifts, life
insurance offers the opportunity to make a significant ultimate gift. Life
insurance can help create a major gift that otherwise may have been unaffordable.
Your Legacy Lives On. You get tremendous satisfaction helping your church,
school, or other favorite charity. And when you give the gift of life insurance,
you are assured that your support and its impact lives on. Your gift might
create a scholarship fund, or help continue a program well into the future.
Your Personal Assets Remain Intact. Using life insurance as the gift helps
avoid invading your assets, which are intended to benefit and provide for
your heirs. The premium can fit easily into your annual or monthly budget.
(Note that you will need sufficient funds to pay the premiums to keep the policy in force.)
Your Charity Receives The Proceeds Of Your Gift Promptly. Your gift of life
insurance is not subject to probate delays or estate settlement costs.
Your Premiums Are Income Tax-deductible.* Your gifts of premiums to purchase
life insurance, if the policy is owned by the charity, are income tax
deductible to the extent allowed by law. (Of course, the charity must qualify
as an exempt non-profit organization.)
The Policy’s Proceeds Are Not Included In Your Estate. Life insurance proceeds
paid to the charity you name as beneficiary are not included in your estate
if the charity owns the policy. Should you choose to retain ownership of the
policy, the policy’s proceeds are included in your estate, but the amount paid
to charity is estate tax deductible as a “charitable bequest”.
Your Charity Has Access To The Cash Value Of The Policy. If your charity is the
owner of a permanent life insurance policy, any cash value build-up within the
policy is available to the charity for emergencies via policy loans, which will
reduce the available death benefit.
Your Privacy Is Private. Since the gift of life insurance is a private matter,
it can be kept confidential, without being exposed to public or family view, if
that is a desire.
Simple To Arrange. Your New York Life agent can show you several ways to give
the gift of life insurance, all assuring that your intentions will be honored.
Your Insurance Gift Is Backed By The Strength Of New York Life. Since 1845
New York Life has served the needs of individuals, families, and businesses.
As one of the nations top insurance and financial institutions, New York Life
has honored its commitment to policy owners.
*Laws vary from state to state. Individuals should consult with their own
professional advisors concerning tax, legal or accounting advice.
Creating a Lasting Legacy for Loved Ones With hard work and careful planning
during your income-earning years, you may have built a healthy nest egg,
sufficient to ensure a comfortable, independent retirement. You may actually
be in the enviable position of being able to leave something to those you love
the most: your spouse, children, grandchildren, and perhaps your favorite
charities. Now's the time to seize the moment and put together a plan that
creates a legacy for those you love.
Your Children's Education Consider this scenario: The car's packed and the teary
good-byes have been exchanged. You may feel as though your baby's leaving you,
but this is one of the proudest moments of your life. You've scrimped and saved
to afford your child's education, and now that the day is finally here, you can
breathe a sigh of relief. Thank goodness you planned ahead and started saving
early so that the next four years won't be so financially stressful. Now, consider
the alternative: What if you didn't plan? Then those next four years could be your
worst nightmare, turning into a juggling act of student and parent loans, financial
aid requests, and semester payments. Fortunately, New York Life and its subsidiaries
understand the importance of funding your children's education, and, therefore,
offer a selection of products to help you meet that goal. Of course, we can't
promise that you won't get the occasional phone call, "Mom? Dad? I'm a little
low on cash.…"
Safeguarding Your Home Mortgage There's nothing like the feeling of owning your
own home. It's a part of the American Dream - to live in a home that you can
truly call your own. Between picking out curtains and paint samples, you should
also remember that your house is an investment. Your home represents many things
– a place to raise a family, comfort, and a major financial commitment. Like
other valuable assets in your life, it too needs to be protected. Realizing how
important your house is to you and your family is the first step. Deciding on ways
to safeguard your investment is an important step that will help guarantee the
joy of owning your home for years to come. As a New York Life agent, I can help
alleviate some of the worry that comes with ownership. One major concern may be
that your family will face difficulties paying off the mortgage in the event
that you pass on. One of the ways to help assure your family's financial security
is to consider life insurance products as mortgage protectors. Products such
as Permanent Life and Term Life insurance are personally-owned and portable.
If purchased in an adequate amount, the death benefit can help retire the mortgage,
and also help provide money to cover other expenses. Ensuring your family's
future now will help ease your mind, and let you concentrate on the really important
things…like choosing between carpet or hardwood floor for the dining room.
