| Show Special Advertising Supplement to Ae Standardammer1 Saturday “May 13 2000 Message from the President by Troy DeLalr LliTCF I’KFMMFM lit TIM- AnmhIAIMiNOF ll4(NSHVHi AMlFlNAMIU AllVNIK FARM 1)1 RFAt! FlNAV lU Si Inm UVh RVK FA Life insurance at a discount — is it realty worth it? As President of the Bonneville Association of Insurance and Financial Advisors I have had the opportunity to work with many insurance professionals It is for this reason that I have been amazed over the last few months at how many times I have heard the radio commercials of the companies offering life insurance at discounts of number or the up to 50 via a Internet These altruistic state of the art technologically advanced companies are able to offer these discounts due to a technique offering individuals the opportunity to purchase life insurance without having to meet with one of those pesky life insurance agents You know the kind of pesky agent I am talking about The kind that actually sits down with familities to determine the amount of life insurance coverage they need to meet their goals needs and wants The kind of agent that spends the time necessary to ensure that the plan proposed will do the job that the families want done in the most economical manner available The kind that spends years in professional development training and countless hours of research to ensure that the information he is giving his clients is up to date and appropriate The kind of individual that establishes a relationship with his client and is not only an insurance agent but also a family friend The type of agent that joins his professional organization to ensure that the industry he belongs to continues to keep the public’s best interest first and foremost It is these types of agents that are pictured in the following pages and all I can say is thank goodness for these professionals In the financial services and insurance industry doing what other companies view as nega Life tive or bothersome is what makes families dreams come true Insurance and Divorce of an ongoing pension if he or she by David L Carver Life Insurance As a result the next time you lis- mor? than most things you buy ten to the radio advertisements relates to the of of these discount companies take what they are saying with a grain of salt Consider your life You buy life insurance to protect your family from financial whether from your death You tie the loss stemming you would place your family’s welfare in the hands of a company In many cases the discounts offered by these companies have nothing to do with having an agent They have to do with marketing and the quality of the product As many of us already know the price of a product directly relates to its quality in most situations Fortunately most Americans are still the type that love their families and will do everything in their power to protect them in the best manner possible even if it means giving up an hour a week or even a month to talk to a pesky insurance agent Besides I have heard a rumor that since the public is still trusting their dreams to a real person rather than a number or Internet site these discount companies are going to begin focusing on another market segment They have decided to target the medical industry and will give everyone the opportunity to prescribe medication perform surgeries and diagnose problems without ever having to meet with one of those pesky Physicians All you have to do is send them all of your money and they will send you a scalpel and a bottle of pills and walk you through the process over the phone My thanks go out to all of you that protect your family by heeding the advise and counsel of financial and insurance professionals amount of your life insurance to the money your family will need to provide an income pay off debts put children through college and cover financial commitments But what happens to life insurance when you’re about to dissolve your marriage? How do you deal fairly e with a yet still make sure you have coverage for the future? Is there a way to provide for soon-to-b- se adult children of a previous marriage without going broke — especially if you have children through a second or third marriage? Here area number of considerations you should be aware of: Don’t assume that your insurance agent or company knows about your circumstances If you don’t change your beneficiary your former spouse may receive the proceeds of your policy upon your death If the designation simply reads “husband of the insured” or “wife of the insured" and there is no new spouse the secondary beneficiary receives the pro- remains the designated beneficiary on a permanent life insurance policy Of course you need to ensure that your policy remains a valuable asset by keeping up premium payments However transferring an existing cash value policy (as opposed to a term policy) may carry with it the burden of federal gift tax unless you transfer the policy prior to divorce Be sure to discuss this option prior to the finalization of your divorce Don’t overlook the possibilities life insurance may provide dealing fairly with children from your previous marriage If you’re paying alimony to your previous spouse and have a second family with your new spouse adult children from your first marriage may sue your estate after you’re gone if they aren’t dealt with at least as fairly as the children from your subsequent marriage(s) A permanent life insurance policy can be an immediate “estate replacer" to children from your first marriage — it helps you replicate accumulated assets that you wish to pass on to the children of your first family — but can’t afford to without neglecting the needs of your new family Essentially you purchase a permanent life insurance policy on yourself and designate your adult children as beneficiaries When you die proceeds bypass the probate process and pass directly to your adult children Your immediate spouse and any children from that marriage are left with your accumulated property and assets — so you’ve provided for both fam- ilies If you’re contemplating divorce don’t forget the options you may have You may be able to transfer ownership rights of the policy as part of with respect to your life insurance a property settlement or to ensure coverage Divorce is tough enough continuation of alimony payments — don’t overlook the flexibility Your may not press as hard and security this valuable asset for more support or a greater slice can provide ceeds Professionalism past and present the year 2000 — NALU to NAIFA by David Dunn LUTCF National Com win Financial Advisors of uif Bonneville Anmh iation of In nl ranch and Farmers I insurance I -- J of having our home destroyed our auto wrecked our financial future put in jeopardy as a result of the liability associated with an automobile accidentthe risk that each business owner faces from disruptions in business resulting from the fire theft and other weather related catastrophesthe concerns that each head of household has in providing financially for their family in the event that death or disability strikes And if we live won- through professional classes and training that are taught in a national network of education that is recognized throughout the world We reach out to them The designations behind various agents such as LUTCF CLU ChFC and others mean that your agent is striving to stay abreast of the changes in our profession Our local association is also active in educating agents and their staff in auto property and life insurance This means that when you call your local professional their staff is trained to be of assistance also! We have taken a proactive posiderful healthy productive lives and don't die tion in our community working to make this area within 5 years of retirement — then we are faced a better place to live and do business in I hope that as you browse through the various agents you with the prospect of out living our retirement or havvalthemselves concern solely agents ing our nest egg devoured with the costs of long see your personal agent As I meet with my with life insurance the decision term care! It would be fair to say that our plate ued clients one recurring theme is repeated over was made at our national con- is full The need to plan is evident no matter what and over — our industry still has too many agents The New Year brought with it a major change for our association In an effort to effectively describe what we do we felt that a name change was necessary For over a century we have been called the National Association of Life Underwriters Since nearly half of our members are multiple lines agents and few Ail Individually we as members help solve problems that are inherent in our societythe risk vention in Nashville to change our name to THE NATIONAL ASSOCIATION OF INSURANCE AND FINANCIAL ADVISORS From now on agents in Davis and Weber Counties will belong to THE BONNEVILLE ASSOCIATION OF INSURANCE AND FINANCIAL ADVISORS Qqrqaiechajig? jccujjtplyrpflfqtg W? tfSrt road our lives take These needs cannot be met with mail order companies or people who man the phone lines behind radio ads promising the cheap quick fix This has been proven Agents with knowledge dedication and professionalism are the only answer As an association we are committed to provid- inga cesoutxeio agents who strive to be the best and representatives that are poorly trained BAIFA ASSOCIATION OF INSURANCE AND FINANCIAL ADVISORS - is committed to the goal of working to fellowship train and support professional agents and their staff If your agent is not in the enclosed pages they should be and they need to be YOUR FUTURE IS RIDING ON IT! -- THE BONNEVILLE |
