LIFE INSURANCE FOR THE LIVING

Finally Something New in Low Cost Life Insurance

Living Benefit Term Life Insurance from Transamerica*

The author ,Randy Taylor has advised consumers on life insurance planning for 21 years while also advising financial planners, stock brokers, and insurance agents on product selection for an additional 10 years. Ca. License #0643596

* Not an offer of insurance and see a specimen policy for complete details while also consulting

with your financial advisors including tax professionals or attorneys before making decisions.

Much easier to apply for than traditional term insurance plans.

No blood test, no exam , and application can be taken online if you are in normal good health, and applying for less than $500,000 at ages 60 years old or younger.

More than just a death benefit

Terminal Illness payout: One of the ways that you can access tax free money when you need it most.

Should you be diagnosed with a terminal illness; you can ask for a small amount or most of the death benefit to be paid out to you while you are still alive. See your tax person for advice but consider that the advance is normally tax free and can be used for any purpose.

Critical Illness Benefit: (Not available in all states. Check with your insurance agent)

Should you be the victim of a stroke or heart attack you can also access part of the death benefit while alive; even you are not terminally ill as a result of the life event.

Of course once the policy is issued, you can select the guaranteed level premium period that best

suits yours needs and age. Guarantee periods can be as long as 30 years or as short as 10 years; depending on your age.

Suitable for Business or Personal Use: Shorter term periods are often ideal for partnership buy-sell agreements and longer term periods are available for needs such a mortgage payoff insurance.

In summary, you now have low cost term life insurance that allows you to replace all or part of income that would be lost if you had a life threatening event and need cash or an affordable traditional death benefit for your beneficiaries.

Article submitted by Randy Taylor, 10/31/2014 . Copyright: Creative Commons

Facebook: https://www.facebook.com/RandyTaylorFinancial

                https://www.facebook.com/AskRandyTaylor

             
Linked in Recommendations:http://www.linkedin.com/in/randytaylorlifeandannuities
Life insurance and I.R.A. Account Specialist
Serving clients and brokers since 1983

Risk Management, often overlooked in Retirement Planning

Why You Shouldn't Put the Cart Before The Horse

Whether your projected retirement date is 30 years from now or in the near future,it is
absolutely essential that  you protect yourself against all types  of  financial loss that could
possibly erase years of cash accumulation with  just one negative circumstance.

Key areas to address before investing for retirement:

Disability  income insurance  Insuring yourself against loss of income:  Disability  income insurance can supply income without interruption all the way to age 65 if you have the right insurance carrier and insurance contract. Ask your agent/advisor about an "own occupation definition of disability."

Pre-paid legal assistance:  One lost  civil suit or I.R.S. audit can erase years  of savings or destroy business assets. I use the monthly service provided by Legal Shield . Pricing & details here at www.legalshield.com/info/taylorr

Identity theft protection:  Several companies offer  continuous credit monitoring for about $10.00 per month. Identity Shield, one option, includes having professional people write the letters and make the  phone calls to also reinstate your credit to where it was 60 days before the invasion. Details at: www.legalshield.com/info/taylorr

Life insurance designed to replace income loss: The family of  a 30 year old  that died by natural causes or an accident; would lose around $1,000,000 !! even if that person only earned  $30,000 per year and would have otherwise been able to work until age 65. A broker can design an inexpensive solution to  this.

Protection against investment risk:  It is not enough to be  diversified since that does not protect against  loss; instead it just  spreads the risk. You can search for bank c.d. or money market rates if you want to have some money liquid at  www.bankrate.com . It you are nearing retirement you also haveover 1.200 companies in most states that will compete for your retirement money with annuity products that feature:  Safety of principal, tax deferral, and freedom from fees if held until the term end or if they are used for lifetime income payments. An "income rider" can be added to fixed indexed annuity accounts that will then add  a guaranteed crediting to the account combined  with guaranteed lifetime payments. See your advisor for specific  advice  that  relates to your situation.

None of the above comments are meant to  be income advice. Always consult with your financial advisor,and/or your insurance agent,tax man,or attorney before making financial decisions.
However, in this difficult  economy in particular; proctect yourself and your family by using basic risk management strategies.

Author: Randy Taylor Lic. #0643596 Creative Commons Copyright 10/15/2014
Facebook: https://www.facebook.com/AskRandyTaylor             
Linked in Recommendations:http://www.linkedin.com/in/randytaylorlifeandannuities

Life insurance and I.R.A. Account Specialist
Serving clients and brokers since 1983

The Best and Worst Times to Post on Social Media

Best Times to Post on Social Media Sites

We all agree that social media sites are important  vehicles to use but the question  remains: When is the  best time to post to reach the best audiences  in real time?

Please note the entries  below. The source for the recommendations is from a  site known  as Social Caffeine, that checked mashable etc.

Facebook: Best times: 9:00 A.M. to 4:00 P.M.
                  Worst  "     8:00 P.M.  to 8:00 A.M. 

Pinterest:  Best times: 2:00 P.M.  to 4:00 P.M.  
                 Worst  "      5:00 P.M.  to 7:00 P.M.

LinkedIn:  Best times:12:00 A.M. to 5:00 PM.  
                  Worst  "    10:00 P.M.to  6:00 A.M. 

Google +  Best times:9:00 A.M. to 11:00 AM.  

Of course there is more to social media than mere posting. The people that succeed the most
are those that optimize their sites so they can be found. That is best done by a professional.

For questions on any topic related to networking or the creative uses of social media; please message me below on Facebook.

Follow my blog :http://randytaylorfinancial.blogspot.com/
Facebook: https://www.facebook.com/AskRandyTaylor

                https://www.facebook.com/RandyTaylorActor?fref=ts
Linked in Recommendations:http://www.linkedin.com/in/randytaylorlifeandannuities
Life insurance and I.R.A. Account Specialist
Serving clients and brokers since 1983

Creative commons copyright , author Randy Taylor, 9/9/2014

Retirement mistakes Baby Boomers Make

How To Get the  Most From Your Retirement Money With Safety

1. What is the most common mistake that people make in selecting investments? They often don't consider that there are 3 phases to investing money. Accumulation phase, distribution phase..spending, and Legacy phase.
   They let greed or excitement get them thinking too much about short term results, and invest too aggressively..instead of building a safe foundation first. The result is that they experience losses that they don't have time to recover from. Warren Buffett once said that there 2 main rules in investing. 1..Don't lose money....and #2..see rule #1. Investing should be a marathon and not a sprint!
2. Example trying to TIME when to buy and sell in the stock market instead.
3.  Peter Lynch who once ran the largest mutual fund in the world said: Marketing timing is impossible.

2. How does age enter into what types of savings accounts people should consider? The closer to retirement you are; the more conservative you have to be since you don't have time to recover from stock market losses. 1 rule of thumb that is a place to start is: To look at your age as a starting point for which what percentage of your savings would go into something with guaranteed interest , and the rest should be invested more aggressively.
   Younger people still need a foundation; but have MORE time to re invest and recover from losses.

3. How much money should someone put at risk?
   As much as you fell you can afford to lose and still recover.
   Other things enter into the formula too like..if you have insurance of different types, disability income etc.. Then you can take a little more risk. Getting back to age again, Baby boomers might have to be safer with their money because losing money when you are closer to retirement would create a life style change., They would have to put off retirement several years for example.

4.)There is the big rush now for Baby Boomers to retire. How can they best use their current IRA money? I like indexed annuities which offer safety, tax deferral on the interest and secondary guarantees that can pay as much as 6 to 7% out for life..

5.)What is the most commonly overlooked piece in a retirement puzzle?

Risk management while in the accumulation phase.. Retirement savings require income..Being able to set aside money for your childs college or a home purchase requires money. its lost if you disable or die.. Losing a law suit could bankrupt people..There are programs like legal insurance to help you..$19 month.

All so, simple insurance protection against income  loss

due to disability or death is often overlooked.

Follow my blog :http://randytaylorfinancial.blogspot.com/
Facebook: https://www.facebook.com/AskRandyTaylor               

Linked in Recommendations:http://www.linkedin.com/in/randytaylorlifeandannuities
Life insurance and I.R.A. Account Specialist
Serving clients and brokers since 1983

The Real Secret Code to Success

Struggling with motivation? The answer is NOT what you think

 Affirmations don't work!

That's right. The "I am " statements we have heard about and practiced just don't work and according to
author and guest of several national T.V. interviews; Noah St. John, they can even sabotage our efforts.

Why don't affirmations work?

First of all, we are trying to ask our subconscious mind to do something it just doesn't want to do and has already defeated our attempts in the past. Your  mind may say yes, while your  subconscious is saying: " Yes but you have failed before."  Still a skeptic? Read the book. It will make a believer out of you.

Noah St. John explains in his book that  our mind works like Google. In other words,it is programmed to answer questions like : "Why am I now on track to lose weigt" with only positive responses.
When you do your "I am statements in the current format, your subconscious can fight you. When you do them in a question format and in present tense; you have a breakthrough; a new solution that works.

This book changed my life for the better. I am sharing this link with you:  http://www.amazon.com/The-Secret-Code-Success-Happiness/dp/0061715743


Have an open mind, make a few subtle changes in your self talk; and be pleasantly surprised.

Please follow me on Mondays on Facebook and/or this blog for motivational ideas, original quotes, and
posters. Please also contact me by message on Facebook with any questions or comments.

https://www.facebook.com/AskRandyTaylor

Creative commons copyright: This article may be re-distributed or copied but may not be altered or changed in anyway. 6/9/2014 /

Annuity Lifetime income Pros and Cons

GUARANTEED LIFETIME INCOME PROS & CONS

About the author: Randy Taylor

Randy Taylor has advised consumers on retirement solutions for over 21 years and has advised financial planners and insurance agents on which companies and products to use for an additional 10 years.  The article and video below are not meant to be investment advice. Please consult with your financial advisor including tax or legal counsel before purchasing any financial instrument.


Question: How Can I have both safety of principal, guaranteed growth, and higher yields than
traditional savings accounts?

The Solution: A fixed indexed annuity offered by and insurance company can do just exactly that if your future goal is to take income payments that are available for life. A feature known as an "income rider can be added to provide a contractual guarantee of lifetime growth to your account combined with lifetime payments that can be as high as 6% for life for a 60 yr. old for example.

Complete details are offered below via video;regarding all types of annuities.

http://www.youtube.com/watch?v=5wFD-b5zwWI

Traditional Safe Alternatives for Retirement :

Bank C.D. accounts:
 ( To compare rates go to: www.bankrate.com)

Pros:
         The deposit is backed typically by the F.D.I.C. for up to $250,000.
         You know in advance  that your principal is protected while the account also grows at a guaranteed rate.
         Bank C.D. rates are typically higher than money market rates.

Cons: There are penalties for early withdrawal.
          The interest is typically taxed as earned whether you spend it or not; unless it is part of a tax sheltered like an IRA.
          Probate Fees: At death the account is often reduced by probate fees unless some estate planning is done in advance to prevent that. The fees of course reduce the amount of money available for your heirs.

Bond Funds:

Pros:

          Interest crediting if held to maturity is often higher than bank cds.

           They are issued by the federal government or corporations.

Your advisor can search for both higher yielding bonds that  might have risk involved or for bonds with a higher safety rating.

Cons:

           If you have to sell the bond early during an inflationary period, you might have to sell at a discount and are not used for retirement purposes as much as a vehicle designed specifically for retirement.

Insurance Annuities: 

There are over 1,200 companies offering insurance annuities in most states.They typically look like a bank c.d. in that they have penalties for early withdrawal  and usually have minimum guaranteed interest over a set term such as 5 or 10 yrs.

Pros:
          Safety:
                     Annuities offer safety of principal if held until the end of the term period.

                     There are typically no upfront fees unless an income rider is attached.

                     Income rider fees do not reduce the guaranteed income payment.

                     There are normally no probate fees at death and the money goes to a named beneficiary

                     An income rider guarantees a scheduled payment after as little as 1 yr. of deferral that is                                typically higher than money market, c.d.s, bonds, or other safe investments. Some companies                        guarantee that the account will grow in 5 years to 1505 of the deposit and in 10 years to                                225%; if used for level income payments for lifetime income.

The bottom line: The penalties for early withdrawal are longer with a fixed indexed annuity than they would be with a c.d. for example; but as a result: the annual crediting is much, much higher.. I personally feel that they are best suited as a long term spending vehicle that they are for short term accumulation in most cases. Therefore, I always tell my clients to consider adding the income rider which provides an annual crediting to the account of 6 % compound interest with many companies, regardless of what the stock market index credits.  It is frankly hard to beat 6% compound creditng with a 6% payment for life for someone in the baby boomer age bracket. For more details; refer to the video link above; and contact me via the links below:

Phone number: (916) 601-5270
California Residents only.
Facebook Business Page: https://www.facebook.com/RandyTaylorFinancial

How to get guaranteed life time income from an annuity

How to get the safety, tax deferral, and guaranteed lifetime income tax deferred annuity savings accounts.

Older traditional annuities versus, the newer more flexible annuities with income riders

In the past and still offered now; are programs where you can take immediate guaranteed lifetime income
from a savings account backed by an insurance company or payment for a set period such as 10 years only. The payment amounts are based on your age and which payment option you choose...(10 years only, lifetime only; etc.)

With the traditional plans you can not change your mind if you want to get at any principal and interest that is not yet spent; should you need it. You trade access to the deposit in exchange for lifetime income payments.

Newer plans also offer lifetime guaranteed income but with other options

Tax deferred growth
Avoidance of the added expense of probate, a will , or trust in most cases. See your attorney.

You can get at cash in your account that has not been spent, should you decide to cash in any balances in stead of continuing to receive payments.. See policy for details.

The optional income rider is priced at about 3/4 of 1% per year.

The rider cost does not reduce your retirement payment and only applies to you accumulation account
which is available at death or at partial or complete surrender.

The income rider is very well suited for those that  want to take income payments rather than a a lump sum.

With some companies the guaranteed crediting for the account used for income payments can be as high as 6% until spent. Some companies only guarantee the crediting for the first 10 yrs. so you would want to see your advisor before making decisions on any annuity regardless of your goal.

For more details; see your financial advisor and/or insurance broker. For people that might want to defer
taking income until required by the IRS etc
, I have attached an example of a program well suited for many that want the option of a level income payment or one that increases with inflation below:

https://www.allianzlife.com/annuities/fixed_indexed_annuities/masterdex_x.aspx

With this and all financial decisions you should see  the advice of an experienced, insurance broker,
tax advisor, and/or an attorney experienced in insurance matters.

To contact the author, Randy Taylor, or to schedule as a speaker :
freeestimates71@yahoo.com
https://www.facebook.com/RandyTaylorFinancial
Linked in Recommendations:http://www.linkedin.com/in/randytaylorlifeandannuities

Creative commons copyright 2/28/2014
Randy Taylor
Licensed agent/broker since 1983
Ca. Lic. # 0643596

When Should You "Rent" Term Life Insurance?

About the Author:

Randy Taylor has Advised consumers on both term life insurance and permanent life insurance for over 30 years and has also advised stock brokers, financial planners, and  insurance agents on which companies & products to select for different client situations for an additional 10 years!
Published since 1998; quoted in Forbes.
California License # 0643596
Copyright 1/31/2014, All rights reserved
California residents only: Call for estimates at 916-601-5270

When Does Temporary Term Life Insurance Make Sense?

The answer is simple; when you have a temporary need for life insurance; 30 years or less.  One of the newer,more cost effective types of term life insurance are absolutely the best solution. Let's look at some examples of which types of insurance are best for temporary insurance needs:

Newlyweds or new couples that are on a limited budget.

If a couple has shared debts that would have to be paid off for the benefit of the survivor; then a simple
program with a rate guarantee as short as 10 years might make sense.. The strategy is to have enough life
insurance to replace the lost income of the main bread winner,or to insure both parties..The solution is to use the least expensive plan at the time that provides adequate coverage until they could afford a more permanent solution.
Most temporary term plans also provide an option to trade the policy to a  permanent one later; without having to re-qualify for the same good health rating. That means no new exam is neeeded for a permanent plan in the future.

Business owners in a new business or partnership

If a business is new and short on cash flow, a term policy designed to be kept for only 10 or 20 years works very well. The money that comes income tax free to the beneficiary can be used to pay off a creditor, to buy any remaining business interest from a partner's spouse; or can be used as collateral for an SBA loan in many cases. An experienced insurance broker and or attorney can  advise you on how to structure the beneficiary wording or buy-sell contract to make for the best use of the money.

Mortgage Life Insurance for Home Loans

There is a new  concept available that I like for those seeking coverage equal to a home loan debt where the loan obligation is for 30 years. If a client is 50 years old or younger; many companies offer a plan  that has  a  low premium guaranteed to stay level for 30 years. All premiums are refunded as per contract conditions if the  owner wants to cancel the insurance after 30 years and ask for a "return of all premiums paid".
If the buyer cannot afford a 30 year return of premium plan a straight 30,20,15, or 10 year plan with no premium return options are available at a lower initial premium.

Summary:

No one  insurance company or insurance plan is ideal for everyone; but for temporary needs it is best to get temporary insurance. Also seek rate estimates from an experienced broker than can recommend a solution for you based on both your health, ability to qualify, and your insurance needs. Often "renting" insurance rather than owning a permanent plan  is better.
The above article is meant for entertainment purposes only; and you should consult with your insurance broker and other financial advisors before purchasing any financial or insurance products.

Randy Taylor, Author
Copyright 1/31/2014 All rights reserved
Follow my blog :http://randytaylorfinancial.blogspot.com/
Facebook:         https://www.facebook.com/LifeInsuranceRandyTaylor

                        https://www.facebook.com/RandyTaylorFinancial
Linked in Recommendations:http://www.linkedin.com/in/randytaylorlifeandannuities
Life insurance and I.R.A. Account Specialist

Serving clients and brokers since 1983
(916) 601-5270

Reverse Mortgages, A Problem or a Blessing?

About the author:

Randy Taylor was first licensed as a registered representive, and  insurance  agent  in  1983. He was first published in 1998. He has also spoken to financial advisor groups since 1995. California insurance Lic. # 0643596
Author: Randy Taylor Copyright 1/17/2014 , All rights reserved.

What is a Reverse Mortgage?

A reverse mortgage is a loan vehicle that unlocks or makes available part of the equity in a home to provide
seniors with cash flow to supplement their retirement.
Like any other financial decision you would need to consult with an  attorney, tax person, or financial consultant before making  any decisions.

How do they work?  When you qualify, the equity you have built up can be paid to you and then used for any purpose while the home owner gets to continue living in the home without the need  to make their monthly mortgage payments.

What are some of the Advantages?

The borrowers do not  have to repay  the loan until the borrower no longer uses the home as a primary residence; or until they do  not meet the obligations of the loan.

The loan can be used  to purchase a primary residence if you are financially able to pay the difference between  the loan and the home purchase price,closing costs etc.
  
The borrower does not have to qualify for the new loan based on income guidelines.

Unlike a line of credit; you do not have to make payments..Instead  the loan pays you.

You still own  the home and must live in it.

What are some of the requirements?

The key issue is you have to own  the home outright  or have a high  equity position.

You must be 62 years old or older

You are still liable for taxes and insurance on your own.

Are there downsides?

Of course there are.. The most obvious is that you are getting  a loan and there will  be costs involved.

Your remaining estate that would be passed on to your heirs will be reduced as you spend the equity.

 You should contact HUD at  1-(800) 569-4287 and also your financial consultants before making any decisions. A counselor will also help when  you apply with required  training. This article is meant to be offered for informational purposes only and not to be  interpreted as financial  advice of any kind.

Confused About Social Security Benefits or How to Apply?

Taking the Stress out of Applying for Social Security Benefits

Blog entry offered by:
Randy Taylor, copyright 1/10/2014; all rights reserved.
randytaylorfinancial.1@gmail.com

Key Things to Consider First:

You have to have attained an age of 61 years and 9 months or older to be eligible to apply.

If you are 62 years or older already; you might be able to start your benefits during the month you apply.

Your payments start one month after they are due.

The government does have excellent telephone support available at: (800) 772-1213

Need more information?  There is relief  in sight!

You can go to this online link for forms, calculators, and detailed information and then call when
you have specific questions.

Here is a helpful site: http://www.socialsecurity.gov/retire2/applying8.htm

Note: This blog entry is offered for information only and not meant to be financial advice.. Before deciding
when to begin your social security benefits; first talk to your financial advisor and/or tax consultant or attorney.

We are also available to help clients in the Northern California area that seek rate comparisons or information regarding safe retirement vehicles to supplement their retirement.

Follow my blog :http://randytaylorfinancial.blogspot.com/
Facebook:         https://www.facebook.com/RandyTaylorFinancial

               
Linked in Recommendations:http://www.linkedin.com/in/randytaylorlifeandannuities
Life insurance and I.R.A. Account Specialist
Serving clients and brokers since 1983