You are here: Home / Archives for Nancy Williams

I am 34 Years Old With 2 Children – How Much Life Insurance Do I Need?

February 22, 2012 By

It takes nearly $ 222,360 to provide basic necessities for just one child from birth to age 18 according to a USDA report. WOW! You would want to have enough coverage to offset these expenses for your children if something happened to you while they are still young.

Next we need to calculate the cost of college for each child. That figure can range considerably depending on where they are going to college and whether or not you want them to be responsible for some of the payment.

What is the mortgage debt? Most people want to ensure that the mortgage will be paid off with the life insurance proceeds.

Once we’ve looked at the cost to raise the children, send them to college, and pay off the mortgage, its generally recommended to include 4 to 6 years of income. This allows your family time to heal emotionally without the added burden of worrying about finances.

Lastly you want to calculate the cost of final expenses, which averages $ 12,000 in the US.

If you’d like to calculate what YOUR family needs, call me at 919-943-5577 or e-mail me at nancy.j.williams@mwarep.org. Also, visit my site at www.healthinsuranceraleighnc.com.

Nancy Williams’s Posts – The 919 Business Network – Local Business Networking

Filed Under: Nancy Williams Tagged With: , , , , ,

I’m 60 Years Old, My Kids Are Grown, I No Longer Need Life Insurance

February 18, 2012 By

True or False? Although you may no longer have a family to support, you still might have life insurance needs. There are at least 3 reasons why the above statement is false in most cases:

1. Final Expenses – which average $ 12,000+ in the United States. This is assuming there are no left over medical bills that were not covered by medical insurance.
2. To minimize the effect of taxation on retirement plans and help ensure your spouse has enough funds for their remaining retirement.
3. Leave a tax free inheritance to your loved ones or support a favorite charity after you are gone.

For those that chose not to purchase a permanent plan when they were younger, its not to late to look into it now. Although they are more costly, there are also plans that are guarantee issue – meaning that regardless of one’s health they are still able to purchase life insurance. The best plan however is to get sufficient life insurance while one is younger and still healthy.

I can give you more information if you call me at 919-943-5577 or e-mail me at nancy.j.williams@mwarep.org. Please visit my site at healthinsuranceraleighnc.com.

Nancy Williams’s Posts – The 919 Business Network – Local Business Networking

Filed Under: Nancy Williams Tagged With: , , , , , ,

I am 40, I Already Have Some Life Insurance and Don’t Need More

February 14, 2012 By

Maybe, maybe not. The question is, do you have enough to cover your needs? The obligations you had at age 30 are likely still there. Plus, as you’ve progressed in your career you may now have a higher income level and lifestyle that you need to protect.

Experts recommend having enough life insurance to replace income for 7 to 10 years. To meet that recommendation, the typical married couple would need to double its current coverage according to a recent study by LIMRA.

There are more things that can and do go into a calculation on how much life insurance a family needs, the 7 to 10 years is a very basic formula. If you currently have more than 7 to 10 years of income in life insurance protection, you are probably covered appropriately. If you have less than that, it would be worth the time to look into your options.

Call me at 919-943-5577 or e-mail me at nancy.j.williams@mwarep. org if you are interested in reviewing your current coverage and your needs. Please also visit my site at www.healthinsuranceraleighnc.com.

Nancy Williams’s Posts – The 919 Business Network – Local Business Networking

Filed Under: Nancy Williams Tagged With: , , , , , ,

I Am 25 Years Old, Not Married & No Children – Do I Need Life Insurance?

February 10, 2012 By

Ben is my 25 year old customer who recently told me he didn’t need to buy life insurance as he isn’t married yet and doesn’t have any children. Here is my response:

Life insurance will never be cheaper than it is while you’re young and healthy. By planning ahead, you’ll ensure you have the protection you need when you need it most, and at a much more affordable price. In fact, it won’t cost much more than a burger and fries at your favorite fast food once a month. Its also important to protect insurability. Anything can happen at any moment to change an individuals’ health situation to make it more difficult to purchase insurance at a later date (especially if you ARE having the burger and fries every month).

Also, it costs money to die in the United States – in fact final expenses on average cost around $ 12,000. Somebody has to pay that bill, even if it happens at age 25.

To find out just how inexpensive it is, call me at 919-943-5577 or e-mail me at nancy.j.williams@mwarep.org. Also, visit my site at www.healthinsuranceraleighnc.com.

Nancy Williams’s Posts – The 919 Business Network – Local Business Networking

Filed Under: Nancy Williams Tagged With: , , , , ,

Top 3 Reasons Why A Parent Should Buy Life Insurance For Their Child

February 6, 2012 By

“I don’t want to think about my child dying” is what I hear many times, and I don’t want to think about MY child dying either. So why should we buy life insurance for our children?

1. Think of life insurance as an investment in their future. We’re giving our child a financial head start when we do it and believe it or not, in many cases we can do that for around 7 cents a day! Can’t do much for 7 cents a day any more.
2. To protect their insurability. Depending on the policy and the carrier, your child may have the ability to continue to buy additional life insurance throughout their life at standard rates regardless of their health history. I can tell you from experience this is BIG!
3. Lock in low premiums on permanent plans. Its very inexpensive to purchase permanent plans for children. I recently spoke with a grandparent who had purchased their grandchild a permanent plan several years ago. The cost was around $ 30 a month, and now today the grandchild has over $ 20,000 of cash value they can use for college. (And this cash value doesn’t count against them when completing a student loan and/or scholarship application nor does using the cash value cancel the plan.)

Just a little tidbit to think about – 17% of American children are overweight. This puts them at a higher risk for health problems that could last their lifetime and affect their insurability.

Please call me at 919-943-5577 or e-mail me at nancy.j.williams@mwarep.org to find out how you can protect your child or grandchild. Also, visit my site at www.healthinsuranceraleighnc.com.

Nancy Williams’s Posts – The 919 Business Network – Local Business Networking

Filed Under: Nancy Williams Tagged With: , , , , , ,

I’m 50+ Years Old – Do I Need Life Insurance At My Age?

February 2, 2012 By

I was recently asked that question, and the answer is yes! You may still have some children in college, a spouse who relies on your income, an aging parent to care for, just to name a few reasons.

Another good question is – do you own the right kind and the right amount? You may need less coverage than you did 20 years ago and its a good time to look at permanent coverage so it will be there when it is needed the most. There are several options and they are easier to afford than many people think.

One in four US families rely only on group life insurance to provide financial protection if a wage earner dies. This coverage can be lost due to retirement, unemployment (we’ve certainly seen a lot of that lately!), or reduced hours. If you or someone you know falls into that category, it would be worth looking at a plan that YOU own and control, while you’re still healthy. Your family is worth it.

If you would like more information, call me at 919-943-5577 or e-mail me at nancy.j.williams@mwarep.org. Also, please visit my site at www.healthinsuranceraleighnc.com.

Nancy Williams’s Posts – The 919 Business Network – Local Business Networking

Filed Under: Nancy Williams Tagged With: , , ,

Generic Drugs VS Brand Name Drugs – Are They the Same?

January 4, 2012 By

Good question! According to the FDA, the answer is YES! For many people, that is great news as the cost of prescriptions can be very high, even with prescription plans. Generics on the other hand are often available at stores such as Kroger, Target, and Walmart for as little $ 4 for a month’s supply without a prescription card! There are a few that are even FREE. Yes, I said FREE!

Per federal law, when seeking approval for a generic version of an approved drug, a company must prove that their product is the same as the original version in regards to the active ingrediants, the strength, dosage, and how its administered.

They also must demonstrate that the generic is absorbed by the body in the same manner as the name brand.

The FDA believes that we should expect the same benefits from the generic equivalent that we expect from our name brand drug.

If you are interested in more information or a free discount prescription card, e-mail me at nancy@healthinsuranceraleighnc.com or call me at 919-943-5577 and I’ll be happy to provide you one!
Nancy Williams’s Posts – 919 Business Networking – Local Business Owners & Professionals

Filed Under: Nancy Williams Tagged With: , , , , ,

# 1 Top Thing Your Life Insurer Won’t Tell You

January 4, 2012 By

I recently read an article from Smart Money and it was titled The Top 10 Things Your Life Insurer Won’t Tell You. The very first thing was the one I found the most interesting. Here it is:



They do not try to find your family.



According to the article, a task force of the National Association of Insurance Commissioners and three state insurance departments are investigating around twelve large life insurance companies for not making payment on more than $ 1 billion in death benefits on thousands of small policies.



If no one makes a claim, the insurance companies can have difficulty in keeping track of who has died. Also, if you are the beneficiary and have updated information, the insurer might struggle to find you.



So what is the solution? Follow these 3 simple steps:



1. As a policy owner, keep your insurer updated if the beneficiary’s information changes.



2. Make sure your beneficiaries are aware of your polcies. They need to know the policy number, the policy carrier and the value.



3. Have a Last Will and Testament, include your policies, and keep it up to date.



If you do these simple steps, you and your beneficiaries will not have to worry about problem #1.



If you do not currently have a Last Will and Testament or yours is out of date, contact me for information on getting one done very affordably. Also, if you are in need of additional life insurance or don’t have any at all, we can discuss several options to fit into your budget. Call me at 919-943-5577.
Nancy Williams’s Posts – 919 Business Networking – Local Business Owners & Professionals

Filed Under: Nancy Williams Tagged With: , , , ,

10+ Ways to Save on Health Care

January 4, 2012 By

1. An apple a day keeps the doctor away…A big key to saving money on health care is to take care of yourself. Eating right and exercising is proven to reduce the risks of most common diseases and ailments.

2. Do you smoke? Quit. Smoking is linked to many health risks. In addition, rates for health insurance and life insurance are typically significantly higher for tobacco users.

3. Do you have a few pounds to lose? A few is okay. If you have several pounds to lose, consider that obesity is linked to many health risks. There are lots of folks here with products that can help.

4. Take advantage of your yearly well care visit. Prevention and early detection is considered key to reducing health care costs.

5. Have a cold? Treat it with rest, liquids, and vitamins. We’ve all heard for many years the doctor cannot treat a cold.

6. Consider looking at other health insurance options to reduce your monthly premium. HSA plans have become very popular due to their lower premiums and tax consequences. Indemnity plans are another option for people who simply cannot afford major medical and want coverage for most common health events.

7. Negotiate with the doctor or shop around. Insurance companies negotiate for rates, why not you? Not all doctors and hospitals charge the same for similar procedures. The price difference can be in the thousands!

8. Do you have a prescription to fill? Did you ask for a generic? Many drugs are available as generics and the savings can be tremendous. Target, Walmart, and Kroger to name a few have over 400 generics available for $ 4 without using your insurance card.

9. Other ways to save on prescriptions include ordering online or using discount prescription cards.

10. Consider supplemental insurance to offset high deductibles and out of pocket expenses. Per stats, 63% of the cost of a major illness (cancer, heart attack, stroke) are not covered by major medical insurance. Supplemental plans are designed to offset these costs.

11. Your ideas?

If you’re interested in comparing prices on major medical, indemnity, or supplement insurance plans, e-mail me at health.life.legal@gmail.com or call me at 919-943-5577.
Nancy Williams’s Posts – 919 Business Networking – Local Business Owners & Professionals

Filed Under: Nancy Williams Tagged With: , , ,

What Do You Want For Your Birthday?

January 4, 2012 By

This is a question many of us hear every year.

When your spouse or significant other asks you that question, how do
you respond? If you’re like most and you’re a female, your response
might be a piece of jewelry you’ve been admiring, a pair of designer
shoes or handbag, maybe even a new appliance you’ve been wanting.
Gentlemen, your answer might be a new power tool, electronic devise,
or perhaps some new golf clubs or other sporting equipment.

When my mother and stepfather asked each other that question, the
types of items listed above were common responses. Where are those
items today? Over the last two years my mother has been selling them
in order to pay the monthly bills on time. The reason is because a
little over two years ago my step father passed away unexpectedly.

Unfortunately my step father had purchased very little life insurance,
only enough to pay for his final expenses and to pay off his truck.
There was nothing left to pay the remaining balance of the mortgage,
or any of the other day to day or month to month expenses.

Every time my mother is forced to sell another item, she is reminded
of the loss of my stepfather. In addition to selling personal
belongings, she has now put the home she and my stepfather lived in
for over 20 years on the market because she can no longer afford to
live there.

Besides my mother, there are many people living a story just like this
one. Per statistics, only 25% of the American population has prepared
properly for something that is going to happen to each and every once
of us, we just don’t know when. Next time you are asked by your loved
one what you would like for your birthday, consider this story and
perhaps take the money and buy some additional life insurance for
yourselves. Although it might not feel like it, its one of the best
gifts you can give.

My mother’s story is one of the reasons I chose
this industry about a year ago. My mission is to help prevent the
number of stories like the one above. Contact me or your favorite
life insurance professional to find out how a little can purchase a
lot.
Nancy Williams’s Posts – 919 Business Networking – Local Business Owners & Professionals

Filed Under: Nancy Williams Tagged With: ,
« Older Posts