EVERYBODY NEEDS LIFE INSURANCE –RIGHT?

Wrong!
There’s a perception that life insurance companies and agents are indiscriminate in pushing life insurance at everyone. But the reality is quite different. Not everyone needs life insurance. How do you know if you do? Here’s a simple and quick test. Answer one question.

Will someone suffer financially if you died today?

That someone could be a spouse, children, aging parent, disabled adult child, good friend whom you are helping to support etc. But it could also be the employees of your business whose jobs would be lost if you died and the business failed.
Or it could be your church to which you donate significant amounts of money each year, money that’s important to the ongoing financial health of the church – or other charitable organization.
If no one will suffer financially at your death, you don’t need life insurance.
But maybe you would just like to have some. It’s a wonderful way to leave a legacy to a favorite niece or nephew or grandchild. Or to provide a small – or large – endowment at your college or university. Or to provide a fund to help maintain an historic building or favorite piece of park land.
In other words, not everyone needs life insurance. But even those who don’t may have a reason to want to buy it.
Think about it.

“Local agents helping Local People”

360-414-8754 or 360-736-8090

www.facebook.com/CorwinReyInsuranceAgency

https://twitter.com/ReneeCorwinRey

http://www.farmersagent.com/rcorwinrey

http://corwinreyinsuranceagency.blogspot.com/

http://pinterest.com/tjroses3/i-love-my-job-corwin-rey-insurance-agency

I Don’t Need Life Insurance Because I’m Covered Through Work

Benefits from work are great but rarely adequate for most people’s needs. 

The most common employer-sponsored life insurance benefit is one 

times the employee’s salary and that just won't do it, unless you’re not 

planning on being dead too long. Most financial advisors

 recommend 10 to 20 times your annual income as 

appropriate life insurance coverage for a

 breadwinner in the average American family.

“Local agents helping Local People”

360-414-8754 or 360-736-8090

www.facebook.com/CorwinReyInsuranceAgency

https://twitter.com/ReneeCorwinRey

http://www.farmersagent.com/rcorwinrey

http://corwinreyinsuranceagency.blogspot.com/

http://pinterest.com/tjroses3/i-love-my-job-corwin-rey-insurance-agency

What’s new from the IRS in 2013?

Annual Gift Tax Exclusion ¹

• The 2013 annual gift tax exclusion amount will increase for the first time since 2009 to $14,000 per gift to a non-spouse, and $143,000, up from $139,000 for gifts made to a spouse who is not a U.S. citizen. Gifts to a spouse who is a U.S. citizen remain exempt from gift taxes due to the unlimited marital deduction.

Retirement Plan Contributions²

• The limitation on elective deferrals (salary reduction contributions) under 401(k), 403(b), and most 457(b) plans, as well as the federal government’s Thrift Savings Plan, is increased from $17,000 to $17,500.
• The limit on “catch-up contributions” for those who are age 50 and over remains unchanged at $5,500 ($2,500 for SIMPLE Plans; $1,000 for IRAs).
• The limit on compensation that may be taken into account under a plan is $255,000, up from $250,000.
• The overall limitation on “annual additions” to a participant’s account under a defined contribution plan is increased from $50,000 to $51,000.
• The basic limitation on the annual benefits under a defined benefit plan is increased from $200,000 to $205,000.
• The dollar thresholds for determining who is a “highly compensated employee” and which officers are “key employees” remain at $115,000 and $165,000, respectively.
• The contribution limitation applicable to SIMPLE IRAs and 401(k)’s increases from $11,500 to $12,000.
• The minimum compensation that may be required for participation in a SEP is unchanged at $550.

IRA Contributions²

• Deductions for IRA contributions will phase out between $59,000 and $69,000 of AGI (previously $58,000-68,000) for single individuals and unmarried heads of household who are covered by an employer’s retirement plan; for married couples filing joint returns, the phase-out occurs between $95,000 and $115,000 of AGI (previously $92,000-112,000) where the contributing spouse is covered by an employer’s plan, or between $178,000 and $188,000 (previously $173,000-183,000) where only the noncontributing spouse is covered by an employer’s plan.
• The phase-out for taxpayers making contributions to a Roth IRA occurs between $178,000 and $188,000 (previously $173,000-183,000) for married couples filing jointly, and between $112,000 and $127,000 (previously $110,000-125,000) for unmarried individuals. (For married individuals filing a separate return and who are covered by an employer’s retirement plan, the phase-out range remains at $0 to $10,000.)
• The maximum contribution to traditional or Roth IRAs increases from $5,000 to $5,500.

Social Security Wage Base

• The Social Security Taxable Wage Base increases to $113,700 from $110,100.

¹ http://www.irs.gov/uac/2013-Inflation-Adjustments-to-Various-Tax-Benefits
² http://www.irs.gov/uac/2013-Pension-Plan-Limitations

For informational purposes only. Neither Farmers New World Life Insurance Company, its employees or Agents provide legal or tax advice. Always consult your own attorney, accountant or tax adviser as to the legal, financial or tax consequences and advice on any particular transaction.

Life insurance issued by Farmers New World Life Insurance Company, 3003 77th Ave. SE, Mercer Island, WA 98040.

0313-P

“Local agents helping Local People”

360-414-8754 or 360-736-8090

www.facebook.com/CorwinReyInsuranceAgency

https://twitter.com/ReneeCorwinRey

http://www.farmersagent.com/rcorwinrey

Motorcycle Insurance

 

Collision Coverage

Whether it's icy roadways, a blind spot, or an uncontrolled intersection, Collision Coverage pays any amount more than your deductible to restore the damage done to your vehicle to factory new condition in the event of an accident.

Motorcycle Types

Whether you're taking to the back-roads on a classic bike or traveling the highways on a touring cycle, we provide coverage for a variety of bike types: Classics, Cruisers, Custom, Sport, Touring, Trike Conversion.

Liability

You never know when someone might get hurt in an accident. You could stand to lose a lot if you are at fault. Liability Coverage provides protection again financial loss.

Medical Payments Coverage

It's been a month since the accident and you just received your first hospital bill. Medical Payments Coverage makes sure you're protected against the income losses caused by medical and funeral expenses.

Optional Equipment Coverage

Adding features to your vehicle may add a personal touch but they can get "spendy". That's why we provide Optional/Add-on Equipment Coverage.

Safety Apparel Coverage

Have a nice helmet? Got some sweat leathers? Make sure you don't have to pay for it all over again if you get into an accident.

Transport Trailer Coverage

Sometimes transport trailers cost just as much as the vehicles that you own. That's why we offer Transport Trailer Coverage. To make sure that your transport trailer is protected.

“Local agents helping Local People”

360-414-8754 or 360-736-8090

www.facebook.com/CorwinReyInsuranceAgency

https://twitter.com/ReneeCorwinRey

http://www.farmersagent.com/rcorwinrey

One size fits all? Not really

Know the problem with a “one size fits all” approach? It doesn’t. Today’s “family portrait” has almost infinite variety. According to the U.S. Census Bureau, 16 percent (11.7 million) of all children live in blended families. Only 20 percent of the households are traditional families — married couples with children — down from 43 percent in 1950.¹ Which means one size won’t fit all.

Whatever your “family portrait,” when it comes to financial security, many families need that most traditional of financial products: life insurance. And Farmers offers a range of policy types, one of which may be suitable for your family.

Help protect what you VALUE most
Most of us want our families to enjoy life without the added stress of financial worries, even if we can’t be there. Affordable premiums make term life insurance popular for those whose future needs are growing faster than their current finances. Farmers term life insurance may help you provide for your immediate term life insurance needs, and allow the flexibility to upgrade to a more permanent solution when it’s right for you. Term life insurance policies typically provide a level death benefit, with premiums guaranteed not to increase for 10, 20 or 30 years.

Different goals; different solutions
Are you looking for value and lifetime protection? You may be able to get both by combining an affordable term life insurance with a permanent, cash value life insurance policy. While term life insurance may be helpful for larger temporary needs during your working years, a base of permanent, cash-value life insurance may help to provide for lifelong needs such as final expenses, estate planning and a legacy for the ones you love.

Multi-line discounts
Contact me today for a no-obligation insurance review and ask me about multi-line discounts. When you choose Farmers for your auto or home insurance in addition to your life coverage, you may be eligible for discounts on your auto and home coverage that can potentially make your coverage even more affordable. Let me help you prepare for the unexpected.

¹Source: U.S. Census Bureau, “Living Arrangements of Children: 2009”, June 2011.

Products and features may not be available in all states and may vary by state. Discounts apply to selected property and casualty coverage’s, perils, and policy types only may vary by state and eligibility.

Life insurance issued by Farmers New World Life Insurance Company, Mercer Island, WA 98040.

“Local agents helping Local People”

360-414-8754 or 360-736-8090

www.facebook.com/CorwinReyInsuranceAgency

https://twitter.com/ReneeCorwinRey

http://www.farmersagent.com/rcorwinrey

Tips to help Parents age in place

As our parents get older, safety plays a bigger role in their lives and ours.Grab bars and fall-alert buttons are important but today there’s an array of sophisticated products that can help seniors age in place.

• Personal Emergency Response Systems or PERS. Traditional fall-alerts utilize a button attached to a pendant or wrist bracelet. When pressed, the button activates a telephone that auto dials a central monitoring station that summons help. But what if the user forgets to wear the device or is too forgetful or confused to push the button? The new PERS technology detects the difference between falling and bending or stooping down to pick something up and appropriately triggers an automatic response for medical help. These new devices are chest straps, worn under clothing similar to a heart monitor.
• Medication dispensers that notify a caregiver if a dosage is missed. Taking prescribed medicine in a timely manner is a problem for many seniors but is often a requirement of independent living. One of the latest medication management tools is a countertop dispenser that’s about the size of a blender. The device is loaded with enough meds for several days and coded to deliver the right amount of medication at the appropriate times. The manufacturer of the dispenser is supplied with the patient’s dosing schedule. Many models notify a caregiver by phone, email or text if a dosage is missed.
• Shoes with embedded GPS to track seniors. The system is implanted in the heel of an otherwise normal shoe, allows caregivers to set up alerts if a person strays outside of a predefined area and lets them monitor the wearer.

Home — a safe haven
Do your parents prefer to stay at home and remain independent? If so, you may want to discuss this option with their primary care provider as the best choice often depends on their medical condition as well as their budget and personal preferences. But if your parents choose to stay at home there are many devices available today to help make that choice easier to sustain.

1339 Washington Way Longview, WA 98632 -- 360-414-8754

1307 Harrison Ave Centralia, WA 98532 – 360-736-8090