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| by Tim Heller, FICF |
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| After a Knight's funeral the other week,
my thoughts were with the family of that Brother Knight…to his wife,
his children, his beautiful grandchildren. Afterwards, I
went inside and sat down at my computer and began typing… |
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Wheat,
corn, oil, uranium, diamonds, gold, platinum…
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What is the single most valuable
commodity in the entire world?
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What is so valuable that, throughout the course of history:
kings and queens, emperors and politicians, even Popes and paupers have gone to
the ends of the earth to covet?
What is so valuable that men have been willing to sell their
souls to obtain?
What is the one thing that even Warren Buffet and Bill Gates
combined can’t buy?
My friends, what is the one thing that even you will NEVER
have enough of?
Four simple letters. TIME
Do we ever have enough time
with the ones we love?
Do we ever have enough time
in the day to accomplish the most important things?
Do we ever spend enough time
in every day with our Lord and Savior?
Do we know the hour and day when we will have no more time?
Will someone ring a bell the day or week before we have no
more time?
Will you wake up tomorrow morning?
Is there still enough time?
Have you spent enough time
planning for this eventuality?
Do you know beyond a shadow of a doubt that your family will
have the resources they need to fill the financial void you leave behind?
Will they know that you took the time to show them that you cared enough to meet their needs?
Put your watch to your ear and listen closely to the tick-tock of the second hand…Those seconds
are gone. That time is gone,
forever.
You are now seconds
closer to the day you hear those words from your doctor…
You are now seconds
closer to the moment you will hear these words from a priest "Through
this holy anointing may the Lord in his love and mercy help you with the grace
of the Holy Spirit. May the Lord who
frees you from sin save you and raise you up." your last rites.
You are now seconds
closer to the moment you can no longer make changes in how you will be
remembered.
Some of you are like me, you’ve buried grandparents and
maybe a couple of friends (albeit, too early.)
Some of you have buried wives…some sadly children…some sadly
grandchildren.
Will you be remembered as one who did the right things and
made the right plan for that moment in time?
Take time for the
ones you love. Take time to spend with your Lord and Savior in prayer and adoration.
Take the time to
meet with your Field Agent. Take the
time to put the right plans in place.
Take the time…for
the ones you love. Brothers, take
the time to do what is right.
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Knights of Columbus Financial Beacon Second Quarter 2007
Dear
Brother Knight:
In
the March ‘07 issue of the Columbia magazine, a letter was published. You may
have read it. It was a letter to the Supreme Knight written by a brother
Knight’s wife—a woman who unexpectedly became a young widow. And even
though, like anyone whose job involves life insurance products, I’m
well-acquainted with the aftermath of a loved-one’s loss, this letter makes me
pause and reflect.
 This brother’s widow described her agent’s obvious devotion to
protecting his brother Knights’ families from financial hardship. He treated
his job like a ministry, she said, not a sales position.
“We weren’t easy to persuade about the need for life insurance,” the
widow wrote. “Never willing to give up, our agent worked to show us that we
had a need, and he was able to help us understand the value of being protected
with life insurance.”
It wasn’t only the financial benefit the widow wanted the Supreme Knight
to know about: She wanted them to know how her Knights of Columbus agent was
there to personally support her family, to answer questions, and to offer
genuine compassion.
I think about this widow’s letter from time to time. It inspires me to
make sure my fellow Knights and their families take the time to understand their
financial risks. I never want to see a brother Knight’s family in financial
distress because I didn’t do everything I could to help them see an
unfulfilled need.
I wouldn’t share this story with you as a scare tactic. That’s not how
we do business. I just want you to understand how this widow’s effort—in her
time of grief—to thank our agent and our Order has fortified my commitment to
be there for you and your family.
It is my privilege to represent the life insurance, long-term care
insurance, and annuities offered by the Order. You won’t find any finer
protection products on the market—and you won’t find anyone more dedicated
to your needs. Thank you for allowing me to serve you and your family—please
let me know how I can help.
Fraternally yours—
Tim Heller,
FIC
For more information, give
me a call. As your professional Knights of Columbus agent, I can give you
detailed information about any of the material discussed in this newsletter.
Do business with an organization you can trust: The Knights of Columbus,
protecting families for generations.
A good cause: Your premium dollars help support the good works of the Order.
How’s
your IQ?
No,
not that kind of IQ. We’re talking about a different kind: your Insurance
Quotient. How’s yours?
If you’re doing well financially or have significant investment savvy,
you might think you have your financial bases covered. But, taking a closer
look, have you properly analyzed your need for protection?
Here are some simple answers to common questions, all designed to help you
measure your Insurance Quotient.
Q.
How much life insurance should I carry?
A.
The amount of life insurance you carry should be governed by several factors,
including: (1) the amount your spouse earns relative to your salary; (2) the
number, age, and projected needs of your children; and (3) your debt load and
the amount it would take to remove that burden for your survivors.
Replacing your salary, paying off debts, and satisfying the mortgage
should be primary considerations when purchasing policies on the family
breadwinner. Depending on your situation, you may need five to 10 years’
replacement value of your current salary. In some cases, maybe more. That may
seem like a lot, but do the math and you’ll quickly realize the devastating
impact on survivors who aren’t protected by adequate coverage.
Where you are in
your life, how much risk you want to carry,
and
other factors determine which type of insurance is right for you.
Q.
What type of life insurance is better, a term policy or a permanent policy?
A.
The answer depends on your situation. Term policies cost less, but are limited
to benefits paid out if untimely death occurs within the policy’s “term,”
be that 1, 5, or 10 years. Term policies are good for young families, providing
maximum coverage at minimum cost, but they accumulate no residual value and
expire at the end of the term. Renewal plans are often available, but at higher
premium rates, and the same restrictions apply.
Permanent plans carry higher initial premiums, but offer guaranteed
payouts without expiration, as long as you do not let the policy lapse. The
policy also has a cash value, enabling you to borrow against it for major
purchases like a down payment on a home. Where you are in your life, how much
risk you want to carry, and other factors help determine which type of insurance
is right for you.
Q. Are
there any tax advantages to owning life insurance?
A. Yes,
and sometimes significant ones. Because the cash value of a permanent policy
grows tax-deferred or tax-free, there are distinct advantages to owning
permanent insurance. The specifics vary greatly, both by person and by local tax
laws. The best way to discover what yours could be? Just give me a call for a
no-obligation discussion. You may be pleasantly surprised by what you discover.
So what’s
your IQ?
If it’s a little lacking—or if you’re not sure what it is—I’ll be
happy to help you. This is one kind of IQ you can raise with a simple phone call
to a brother Knight. So why wait?
Even
if it’s just to confirm that your IQ is high enough—pick up the phone and
let’s talk.
Boomer
alert:
Manage
your asset opportunities for retirement
If you’re a worker of certain age—say, born between 1946 and 1964—you
already know you’re part of the mammoth baby boom generation. By 2011, the
oldest of you will reach retirement age. Despite sometimes being described as
the wealthiest generation, not all boomers have saved adequately for retirement.
Some boomers will step lightly into their golden years, while others will
struggle to keep up with escalating costs of basic services—on diminished
incomes.
When
it comes to your remaining years in the work force, have you given thought to
how best to manage your asset opportunities, especially those connected to your
employment? According to the Employee Benefit Research Institute data, given
current savings rates, by 2030 retiree income will be $45 billion short of
what’s needed to cover the cost of food, housing, and medical services.
If
you’re one of those boomers who may struggle during retirement, or even if
you’re not, it pays to take advantage of your employee benefits while you’re
still part of the work force. Here’s a checklist of things you should consider
doing:
-
Invest
as much as possible in tax-deferred employer plans and other savings plans.
While traditional pensions may be things of the past, plans that allow
employees to make tax-deferred contributions are very much alive and well.
Contribute as much of your paycheck as you can afford and as much as your
employer allows. The assets will be waiting when you need them and any
employer percentage-match contributions will be like “found money.”
-
Manage
forward any raises or bonuses you receive. No matter how hard we try, we all
manage to find places to spend the extra cash from raises and bonuses we
receive. You can manage forward that extra income by upping your
tax-deferred savings contributions. Unless you’re in financial need, you
likely won’t miss the extra income. Once again, those amounts will be
waiting for you when you need them the most.
-
Understand
and capitalize on other employee benefits, using extra cash to feed your own
retirement funds. If your employer offers other perks and benefits, are
there ways to save money by maximizing the elements within those plans? If
so, do it. Then take the money you saved and sock it away in your retirement
account.
-
Improve your overall “fiscal fitness.” In the same way more
boomers are taking better care of their physical health, make sure you’ve
committed to improving your “fiscal fitness” by better managing your
finances. Reduce spending, increase savings, and look for more opportunities
to put money away so you can better enjoy your golden years. For a free
financial analysis from the Knights of Columbus, simply give me a call.
Reduce
spending, increase savings, and look for more opportunities to put money away so
you can better enjoy your golden years.
 8
great
reasons
to
get a
Knights
of
Columbus
annuity
-
Safe,
reliable growth is backed by the full strength of the Knights of Columbus
-
Competitive
interest rates
-
No
tax on earnings until withdrawal*
-
No
“mature” date—earnings continue to grow and earn interest until
withdrawal or you turn 100
-
Funds
can be transferred directly to beneficiaries— avoiding probate
-
No
limit to how much you can contribute**
-
No
income restrictions
-
Provide
a guaranteed income for the rest of your life
Please call for more information on this popular, efficient, savings
vehicle.
*IRS early-withdrawal penalties may apply if funds are
withdrawn prior to age 59½. Any penalties apply to all deferred income whether
from a non-qualified or qualified annuity.
** If non-qualified.
This publication is written to provide accurate and
authoritative information with respect to the subjects covered. However, the
information contained in this publication is not intended as a substitute for
direct financial and legal advice. For such assistance, please contact a
qualified professional. Reproduction of any part without written permission is
strictly prohibited. Published in conjunction with the Knights of Columbus by
Planet Newsletter, LLC; distributed in the United States and Canada.
Copyright
© 2007 Planet Newsletter, LLC, 275 Bruce Street, Suite 200, Verona, Wisconsin
53593, 1(800) 419-5203
Industry ratings
highlight
Knights
of Columbus financial
strength
and market ethics.
AAA
A++
Proud Member of IMSA
These
ratings mean that you need look no
further
than a Knights of Columbus agent for
the
best life insurance products and service
in
the business.
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