Types of Permanent Insurance

Types of Permanent Insurance

Posted on by Matthew Laker

If you have dependents in your life, that could be ageing parents or children, or someone else. Life insurance is a great way to ensure care for them if something should happen to you. 

Permanent insurance does not need to be renewed and covers risk for your whole lifetime. 

  1. Whole life 

Coverage for your entire lifetime. Over time a cash surrender value builds up. Your death benefit is guaranteed. The premiums are based on assumptions about cost over the long term. 

  • What is the cash surrender value. ?

The cash surrender value (CSV) is a saving account that builds up over time. However, upon death, the beneficiary only receives the death benefit, and the insurance company keeps the cash surrender value. If you surrender the contract, you will receive the CSV.

2.Term-100

It provides coverage for the entire lifetime of life, and it matures at age 100. At 100, premiums are no longer payable. If you live longer then 100 it still covers you. Usually, they do not have a CSV. 

3.Universal life

Provides coverage for the entire lifetime of the insured. The uniqueness of UL is there is a savings component. One can use this to accumulate savings in a tax-free account. 

Permanent insurance is designed for people who

  • Have a permanent need
  • Need estate and tax planning

Are you looking to get life insurance or

review your current situation?

Yes 

No

What questions do you have?

Let’s start with a free financial analyst and find a unique solution for you. 

Weekly sit down – Family Routine

Weekly sit down – Family Routine

Posted on by Matthew Laker

Weekly sit down – Family Routine 

What is one thing you are doing right now that is not helping your family or life succeed? 

What systems do you have in your family home to keep your family on track and help with communication? 

There are two habits that my wife and I work at that seem to be helping stay focused. 

First, both of us, at times, would be frustrated with the other because of perceived unsuspected appointments or meetings. Many times the one with the meeting (me) new about it, but my wife also wanted to do something else. At times I as well got frustrated at going here and there and wanted to try and think more strategic with or coming and going. One of my reason for that was to allow my day off to be just that. I hated days off that I was running here and there.  

The first habit we started was using google calendar together. We gave access to each other’s digital calendar so that we could see what the other one had planned or needed to be. It helped, for example, with things like booking dentist appointments and who could take one of our kids. We still have our bumps, but it has proved helpful.  

The Second habit that I requested was weekly meetings where we go through our week. I was struggling with the unexpected trips here and there and trying to get better at planning our week. The other piece this was it gave us space to talk.  

We try about the same time each week to meet. There are four things we do at this time. 

  1. We walk through the week ahead. Literal, we look at each day and where we will be and what needs to happen. We talk about who is taking a kid here or there or when will I be home.  
  2. We meal plan. This was not part of the original plan, but we added, and we work better when we have a meal plan for the week. There are so many benefits to meal planning. For us, this means writing down what we will eat each night for meals. 
  3. We have space to talk about life. Some times we are just at the kitchen table. Other times we leave the kids and grab a coffee together, and it has been a good experience for us. 

 As we look to enter, engage, experience the life we were created for, that does not come at the expense of our relationships. Relationships are essential to success in life.

What about you?

What is something you can do to help your family succeed?  

Having a weekly sit down helps me define my focus for the week and what

One Landmine to Personal Productivity

One Landmine to Personal Productivity

Posted on by Matthew Laker

Landmines have one objective they are laid out to injury, destroy and kill. They are hidden just under the ground, and quite. What if in our lives, let’s say in the area of personal productivity there are landmines in our life. These little, or perhaps not so little, destructive elements that are creating barriers to succeeding in our productivity.  

Many times when we look at personal productivity, we think about systems and tools. However, what if it is deeper than that. What if pride can destroy our productivity. 

Today I know we are encouraged to be proud, but let me explain what I mean by pride. I see three parts to it.  

  1. Thinking we are better than others
  2. A need to feel special.    
  3. A need to show others all you have done.   

We can negatively perceive our selves when we do not check off everything on the to-do list. We can get a false identity from how much we accomplish and we ride the emotional roller coaster of the ups and downs.    

Really who are we trying to impress may be a question to ask?

When others do not live up to our standard, we look down on them. There is an attitude that we know better than others. That, in turn, hurts teamwork or partnership, and it pushes others away. We need others to succeed. As we help them succeed, we succeed. 

What do we do?

A loss of humility causes pride. Humility is about remembering the facts and truths. Humility is about remembering to give dignity to others. Humility is remembering we are not a superhero. Humility is recognizing our needs and weakness and graciously expressing them. Humility is being ok with failing. Humility leads us to learn from a situation. Humility can help us in the area of personal productivity. 

What is one of your landmines to personal productivity?