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Show I Few Americans i- make plans for retirement - Only about three out of 10 workers in the country have given much thought to planning for retirement, according to he American Council of Life Insurance. Moreover, the council reported, most people's planning is rather vague ami both in a personal and i c, financial sen-- . For example, a sampling of people 40 years of age and over found that the majority felt that the retirement years not would somehow he a pleasant period. Few problems even inflation were anticipated. Recently an expert in retirement systems told a meeting ol the Society of Actuaries that if present population growth and retirement patterns continue, more workers will be in retirement than holding jobs 70 years from now. Ho teed a hypothetical example involving such considerations as zero population growth, a 95 percent employment factor, no inflation and employer pensions averaging $3,000 annually. With that formula he estimated that in the future the mitniier of Ik it H active and retired workers would consist of H'5.9 million people, the same number as now, but the percentage of retired workers would increase to 5t percent of the total from the 35 percent today. The projected increase in the number of people who will he living in retirement, together with the trend toward longer life spans for both men and women, mean that it will bo more essential than ever for people to plan well ahead for the time they will live after they stop working. Hero are four points to take into consideration m planning for retirement: Try to find satisfying activities to replace working Prepare emotionally for the change in your lifestyle. Make provisions for special problems of poor health that may develop later. Work out a financial plan to guarantee an adequate Life insurance backs up mortgages Life insurance Is being used by millions of homeowners to back up their home financing and guarantee repayment ol home loans in the event of death. The exact number of such home loan guaranty policies is not available since they are written under a number of plans and are not specifically tallied as such. They are made a definate part of the planning and programming of life insurance agents, however, and are used in a large part of those cases where policyholders have mortgages or home loans outstanding. Many people purchase specific policies to cover either the mortgage balance or, in the case of improvement loans, the loan balance outstanding at time of death. Some of the policies written for this purpose are reducing term policies which decrease in size as the loan is reduced, terminating when the loan is paid off. Others are regular, policies wh'ch are designated for this particular purpose for the duration of the loan and then used for other family protection needs later. The purposes of the mortgage or loan life insurance is to enable the property owner to attain his full home ownership objective in spite of death. That is, the property will be left to life-tim- e his family unencumbered. Often a family can take on a home project, either the ownership itself or some improvement as long as the income resources are available to maintain the carrying charges. Rut those carrying charges may lie far too much of a burden for his family after his death. By leaving the home free and clear for his family, the policylmlder has made a basic contribution to sound family financial planning With well over half of all American families now owners of their homes, this protection element lias become increasingly important in recent years. Another factor contributing to the growth of tlus type ol home protection is the great swing to small purchases of homes on long-teramortizing mortgages Many families have licen able to take on larger home investments than formerly through this process down-payment That, of itself, has created many more cases where protection is needed to enable the family to maintain that relatively large investment even though death takes away the main income producer. This May Be The Only Life Insurance Policy Your Child Will Ever Need! Initial Face Amount: $25,000 Increasing Whole Life Male Age 1 Annual Level Premium: $558.50 Monthly: $48.28 I income A person approaching retirement has many pimple to turn to for counseling, including his or her banker, lawyer, the personnel manager where he or she works, and the life insurance agent. Thinking about the financial side of retirement usually begins with Social Security and a pension plan. Then add to this savings, life insurance, government bonds, real estate and other investments. The life insurance agent can be an important source of information and guidance on the subject of financial planning for retirement. Agents commonly furnish their clients with detail' information on Social Security and other questions alsiut supplemental retirement income. The agent may suggest using life insurance cash values to help augment retirement income from other sources. In addition he or she can provide information on appropriate ways to supplement Medicare coverage with some form of private health insurance geared to best meet an individual's needs. 1 PAID UP INSURANCE OPTION AT AGE 65 dividend of This will pay an annual tax-fr- $567,31 7 $11 ,464 ee This dividend increases annually thereafter. Dividends used to buy additions are based on current scale and are neither guarantees nor estimates for the future. Th Death benefit increases BY CONTRACT for 40 years. Dividends purchasing additions substantially increase growth rate of the cash value and the death benefit. Salt LaM 3 . FOR FURTHER INFORMATION CONTACT: (BROKER INQUIRIES WELCOME)- Louis B. Bigler - CLU 111, General Agent 376 East 4th South Suite 312 Salt Lake City, Utah 84111 Telephone: (801) 521-38- 23 AGeneral American May 13. LIFE INSURANCE COMPANY S ll , t - - i i M t , . M t .1 4 , I |
