Albemarle Tradewinds July 2017 Web Final

The Forgotten Retirement Planning Tool--LIFE INSURANCE
As I have mentioned many times in my past articles, insurance
is not taught in the high school or college systems.
So, since Life Insurance is dealing with money and its value,
neither is money growth or how money can work for and
with you taught in schools. Most young adults learn what
they know about money from their parents, who learned it
from their folks.. and so on!!
Problem is.. None of them learned the right way or have
NO IDEA what it is about. Our economy runs on one thing..
MONEY--CASH--MOOLA!! People need to learn how money
works and how it can get you into deep trouble
or how it can make you feel good. Most people have
always heard about 401K accounts they get at work. You
are told at work this is a great way to save for retirement
some 30-40-50 years down the line.. What they do not tell
you is, how your money MAY NOT be there later on, due
to things like stock market crashes, fi nancial advisors who
only look out for themselves , or charge you fees even if
your funds go up or down!! Of course, you have NO IDEA
WHAT THEY ARE DOING OR NOTHING ABOUT MUTUAL
FUNDS, OR STOCKS (PREFERRED OR COMMON) OR
BONDS OR T- BILLS... You are depending on your fi nancial
future to something you have NO KNOWLEDGE about. Are
these profi ts taxable and how, can I lose money, can I be
penalized for needing money early..( Alot of penalty rules
are written in the tax code mainly by lawyers). I could go
on and on about this, but I want to educate you the value of
using PERMANENT LIFE INSURANCE as a tool for retirement
planning.. Many educated and learned scholars will
POOF at the idea of using life insurance to earn savings..I
t is because it is so simple so easy to understand, they
want to keep things complicated so you have to depend on
THEIR VAST KNOWLEDGE AND EXPERTISE..BALONEY,
all types of accounts have their merits if handled by the
right people in the right way.. MY EXPERTISE IS IN LIFER
INSURANCE, 50 YEARS WORTH!!Permanent Life Insurance
has cash value features that are GUARANTEED TO
GROW EVERY YEAR, NO MATTER WHAT THE ECON-
OMY OR THE STOCK MARKET IS DOING..Like the sun
rising and setting, these values go UP.UP..UP11 Another
main feature is that certain plans pay DIVIDENDS IN THEIR
CONTRACTS,above and beyond the GUARANTEED
CASH VALUES.. These values are not guaranteed, but
most major companies have paid DIVIDENDS FOR OVER
100 YEARS++.. These plans are called PARTICIPATING
PLANS, meaning they pay to you, the policy owner, some of
their profi ts each year!!
Now comes the best part THESE VALUES GROW TAX
FREE AND CAN BE TAKEN OUT TAX FREE!! Even if your
policy is worth more in these values than your total premiums
paid in,properly advised these funds are TAX FREE!!
Now, most agents do not sell these policies, because many
large companies have quit offering them.. They would
rather push low cost TERM INSURANCE..Now, do not get
me wrong, for I do also sell term insurance, but only if the
need of the person, family or business warrant it.. Now,
sure, some other fi nancial plans can be bought on a tax free
advantage, (ROTH IRS, SOME GOVERNMENT BONDS,
By--JIM KAIGHN CLU,CHFC,RHU,AABA BSBA
ETC)..But again, YOU
have no idea how these
things work..Oh, and one
last thing.. If you die before
retiring or wanting to take
out your earnings, all your
family gets is the amount of
money in these accounts..
AFTER THE GOVERN-
MENT GETS THEIR FAIR
SHARE.......Life Insurance
will pay the ENTIRE
amount of the insurance to
the family..usually many,
many many times more
than the cash money is
worth,, AND THE MONEY COMES TO THE FAMILY OR
BUSINESS TAX FREE!!
No federal, or state taxes..(in 99% of the cases)..So, if you
would like more info on this idea, or others, call me at 252
335 5983 or 252 202 5983, or my e-mail is “insdr@roadrunner.com”
Until nest time, HAPPY TRAILS TO YOU!! THOUGHT OF
THE MONTH-- If you compare yourself with others you may
become vain and bitter, for always there will be greater and
lesser persons than yourself!
WHICH INSURANCE SHOULD YOU USE
by: Danny Glover
252-209-0999
1513 E. Memorial Drive
Ahoskie
252-312-9796
US Highway 17 North Business
Elizabeth City
For all your Storage Needs
“No Credit Check” or Buy Now
Rent to Own When talking to people who have been injured in auto-
rent971.com
mobile wrecks, I am frequently asked which insurance
should be used to pay for the ongoing medical bills:
Health insurance? Automobile insurance of the at-fault
driver? Medical payments coverage?
Many people assume that only the at-fault driver’s
insurance should be billed for your treatment. This is
incorrect, mainly because, in North Carolina, the responsible
automobile insurance company only pay one
settlement at the end of your treatment, which should
include reimbursement to you for all of your medical bills.
Most medical providers will not wait that long for payment
and will report you to collection agencies if they are not
paid promptly.
Instead, you should provide your own health insurance
information to your medical providers and insist that they
bill your health insurance. With a few exceptions, such
as Medicare, your health insurance is the primary source
of payment for your medical bills. This is because,
regardless of who caused the wreck, you are the one
needing the medical treatment, so the payment for that is
your primary responsibility.
On top of your own health insurance, hopefully you
have Medical Payments coverage (med. pay., or MPC)
on your own auto. Insurance policy. This is a no-fault,
automatic coverage that you pay premiums for that pays
you the amount of your medical bills up to the amount
of the coverage you purchased. This is typically a small
coverage amount, between $1,000.00 and $5,000.00.
You simply provide to your automobile insurance agent
medical bills arising from a wreck, and your agent should
arrange for you to get a check in the proper amount.
You can then use that money to reimburse yourself for
co-pays and deductibles, lost income, or even a down
payment on a new car.
Once you have fi nally obtained a settlement from the
automobile insurance company of the person who hurt
you, you may or may not have to repay your health insurance
company for the medical bills it paid. This is an
increasingly complicated area of the law and is beyond
the scope of this article.
Danny Glover can be reached
at 252-299-5300
10 Albemarle Tradewinds July 2017 albemarletradewinds.com