Celebrating 125 Years of Service to Our Members - William Penn Life

More documents

Recommendations

Info

Moneywise INSURE U Get Smart About Insurance A 4-Part Series Presented by the National Association of Insurance Commissioners - www.insureonline.org LIFE 101 Young Adults LIFE 201 Young families life 301 established families LIFE 401 seniors Life Insurance Tips & Information for Young Adults AS A YOUNG ADULT, you may be without parental support for the first time. You may be away from home as a student or an employee. It is important to understand the long-term and financial implications left by the insurance decisions you make today. There are differing opinions about the importance of purchasing life insurance as a young single since you are unlikely to support individuals whose livelihood is dependent upon your income. While buying a policy early in your life will provide you with better deals and potentially guarantee your insurability, some experts doubt that individuals need life insurance at a young age when they typically don’t have dependents. As a young single, you should consider your options and make a choice based on your finances, health and other circumstances. It always makes sense to start thinking about life insurance early-on so that you can make the most educated decision. When choosing a life insurance product, permanent and term policies are the two major options. If you are a young professional, earning a good salary, able to afford higher premiums and looking for a savings component, you might want to invest in permanent insurance, such as a whole life policy, which builds cash value and also pays a death benefit. On the other hand, a term life policy, which offers death benefit protection for a specified time period, is a less expensive option for young people who are still working out their finances and just want to leave something for their loved ones in the event of their death. Term life is typically less expensive in your younger years than permanent life insurance, which covers you for your entire life and typically has level premiums. If you can’t afford whole life insurance right now, but think you may want it in the future, you may want to consider term life insurance with a conversion option that will let you change to a whole life policy for a fee when you are ready. If you are in the military, consider Serviceman’s Group Life Insurance (SGLI) - a program of low-cost group term life insurance automatically available to all military members. This policy is automatically Photo (c) Andres Rodriguez/Dreamstime.com activated unless the service member opts out. If you have decided to purchase additional life insurance outside of the SGLI, review the list of exclusions to the policies, and make sure that the benefits will be payable even if the death is a result of war, the action of a military force or traveling on a non-commercial aircraft. Individuals who sell life insurance at military installations are required to obtain authorization from the Department of Defense, so ask to see the agent’s permit or license. The cost of life insurance is affected by multiple factors that you should understand. However, some are not easily in your control, such as pre-existing or chronic health problems like diabetes, heart disease or cancer. But others are more behavioral in nature and, therefore, within your power, such as… * Poor health habits, such as smoking and excessive drinking. * Your driving record, in terms of accidents, Driving While Intoxicated citations, tickets and claims. The better your driving record, the better the rates you’ll receive for your life insurance. * Engaging in dangerous hobbies, such as skydiving or rock climbing. The insurance business is all about assessing risk. If you participate in high-risk activities or exhibit highrisk behaviors, insurers will treat you as a high-risk customer. They may charge you higher premiums or deny you coverage. 6 º January 2011 º William Penn Life
Agents’ Corner Illustration: ©Pictac/Dreamstime.Com Richard L. Cohen Apopka, FL 407-246-5499 Since joining the financial services industry in July 1975, Rick has had the opportunity to work in New York City as well as a sales manager and sales agent in the greater Orlando area. As an agent, he has developed a client base of more than 2,500 individuals and firms. Rick founded Wealth Strategies Advisory Group, a financial planning practice that serves individuals and businesses within the private and public sectors. He has a large following of educators and individuals working for non-profit organizations. He has been quoted in trade journals and has conducted radio broadcasts on financial strategy concepts. Always seeking more knowledge to help his clients, Rick has acquired several recognized professional designations. Earning his designation as a Chartered Life Underwriter (CLU) at the age of 25, he also obtained the Chartered Financial Consultant designation and became a Certified Financial Planner Licensee more than 15 years ago. Rick is a graduate of the Georgia Institute of Technology where he earned a bachelor’s of science degree in economics. He earned his MBA degree from Georgia State University and a master’s degree in financial services from The American College. Rick holds life and health insurance licenses and is registered to sell fixed and variable insurance products in Florida and Georgia. He holds FINRA Series 1, 7, 24, 63 and 65 registrations. Rick is a life member of the Million Dollar Round Table and past president of the Central Florida Society of Certified Financial Planners. Rick resides in Apopka, Fla., with his wife Es. They have four children. He has held leadership positions for several community, civic and charitable organizations. His son Matt is also a licensed agent within the practice, making him the third generation financial planning professional. Agent Profile - The Right Person - Sometimes the stars line up for a great career. This may be that opportunity for someone you know. - The Right Position - William Penn Association is looking for the right candidate to lead their sales organization into the future. If you know of someone with proven sales management experience and: • Demonstrated leadership, • Highest level of integrity, • Positive mental attitude, • Strong verbal and writing skills, - The Right Time - • Excellent interpersonal skills, • Service-oriented, resultsdriven self-starter, and • Team player. All inquiries will be treated in confidence and should be directed to: George S. Charles, Jr., National President William Penn Association, 709 Brighton Road Pittsburgh, PA 15233. William Penn Life º January 2011 º 7
Page 1 and 2: William penn Life JANUARY 2011 2011
Page 3 and 4: william penn Life The Official Publ
Page 5 and 6: Letter from the Chair of the Board
Page 7: WPA Events-2011 Join Hands Day Satu
Page 11 and 12: Did you know they’re Hungarian? D
Page 13 and 14: The Hungarian Kitchen Zöld Bableve
Page 15 and 16: Magyar Matters Hungary defends new
Page 17 and 18: Branch News LEFT: Daniel and Anna C
Page 19 and 20: Branch News LEFT: Santa and WPA Cha
Page 21 and 22: Branch News ABOVE: Young guests wel
Page 23 and 24: Branch News The children of Branch
Page 25 and 26: Puzzle Contest #67 with Lizzy Cseh
Page 27 and 28: You should see the view from here F

Celebrating 125 Years of Service to Our Members - William Penn Life

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?