A few key factors to consider at what waiting could end up costing.

• Rates will never be lower than what they are when you are young.
• Do you feel you will be healthier in the future than you are today? Our health typically declines as we get older, it can take you from a preferred rate, to a standard rate, down to substandard, or even declined for coverage.
• As rates increase the cost over the lifetime of the policy could cost you thousand to tens of thousands just for waiting a few years to start.

I have talked with many clients over the last few weeks since the start of “Insure your love month” and one of the most common phrases, “I don’t know why I didn’t start this sooner”. Over and over I hear how they regret waiting, and in some of these cases, that waiting has made it so they can no longer get a policy.

As life insurance rates increase, it reduces the power of your dollar to multiply and provider higher coverage limits. If you are building a policy based on cash value growth, or tax strategies, every year you wait and think about it will cost you precious time and money down the road.

The simplest method to combat this, start an application today. If you think you need to think about it, so does the insurance company. They will evaluate the application and we can then see what you qualify for. You can get started and not pay anything till you are approved. Would it hurt to start a conversation?

Use the button below to book an appointment.

David Moliterno FSCP, AFIS

The post Waiting could cost you… first appeared on Moliterno Insurance & Financial Services.

The post Waiting could cost you… appeared first on Moliterno Insurance & Financial Services.

My family means everything to me, and its why I am so passionate for what life insurance can do. If you have ever experience the loss of a loved one, or witness someone close by, you will know what an impact their life can be. It can be even more devastating if that person did not have life insurance or the financial assets to leave behind.

After witnessing this with friends and clients, I never want to be in those shoe, or have my family go through that, and certainly don’t want to see my clients go through those struggles.

For this reason I have Life insurance, and this may sound corny, but Life Insurance is Love Insurance. These are just a few of the things my Love insurance means to me:

• My love insurance means my final expenses will be taken care of. (Funeral, medical and emergency expenses that might arise from my death)
• My love insurance will make sure the mortgage is paid and they can live in the home they have grown up in.
• My love insurance will keep the utilities going.
• My love insurance will always have food on the table, and money for special nights out.
• My love insurance can keep my dreams alive.
• My love insurance will provide funding for my wife’s retirement fund.
• My love insurance can help send my kids to college, their first car, or to help them start a business.
• My love insurance will provide a future that doesn’t have to be as hard without me.
• My love insurance will not replace me, but will allow me to do those things for my family if I am gone.

Do you need life insurance? If you Love someone, or owe someone the answer is yet. Applying for a policy can be simple, but getting good rates, or an approval all come down to you. Your age, and good health are what can get you a great rate, our in some cases disqualify you. Don’t wait till the choice of getting a policy is taken away from you.

If you want to explore options, have a life story to share, or simply just want to talk, give me a call. 234-254-5661

David Moliterno FSCP, AFIS

Here for you as a resource and a friend. Relationships with my clients are one of the most rewarding parts of my job. If you don’t think life insurance can benefit you at this time, please think of someone you can share this with that may help impact their life in a positive way.

The post Family is not an Important thing, it’s everything. -Michael J. Fox first appeared on Moliterno Insurance & Financial Services.

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I want to share personal stories, and stories from my friends, family, and clients. Life and death unfortunately are not an easy subject to broach, and for many of us we have fresh memories of the trauma of losing someone close to us. The past 3 years have been especially hard but have brought to our attention just how fragile life can be, and that every day we get to spend together is a blessing. I have lost dear friends, and clients and trust me, that call from the family never gets easier. These calls can go one of 2 ways, this can be the horrible news of “I’m sorry, but you Father/Mother, Husband/Wife never started that policy we talked about” or “I’m so sorry for your loss, when you are ready I am here for you so we can start the claims process”

The one silver lining that I can bring to the tragic event is the benefit of life insurance- this can mean different things for every client I meet with. During our consultation I get to know you, your life, and your dreams. What do you want your policy to do for you?

Life insurance to me means, my family will still have income, still be able to pay bills, able to stay in the home they are comfortable in, provide future funding for retirement or college education, but less commonly thought of, my policy will even be able to help while I am still alive.

Some policies come with hidden “super powers”, my policy can pay a benefit for medical events like stroke or heart attack. Yes you read that right. Even while you are alive you can receive benefits that can help you pay for time missed at work, or medical bills.

Once such story that hits close to home is my own family. Everyone involved is still alive and well, but I want to share this to illustrate how not all coverage is the same.

Nearly 8 years ago, I was just beginning to grow my family. I was sitting on the couch with my newborn only about a month old at the time. I received one of the most shocking calls of my life. My Mother was on the other end “your father is dead!” nothing from that point on felt real. I didn’t believe what I was hearing. My Dad could not be dead, he was only in his 50’s and I had just become a father myself. The whirlwind of emotions was overwhelming. The conversation with my mother became more and more frantic. I have 2 younger brothers that still depend on my parents. The youngest of them Douglas has autism and will likely rely on a caretaker for the rest of his life. My Mom quickly went from emotional shock, to despair of what the future would look like. “how will I take care of your brothers, how will I pay for the bill, or the home. How will I get to the hospital, I don’t have socks” by this point her mind was racing and apparently not thinking clearly. This went on for what seemed like forever, but in reality was about 10 minutes.

My Father was at a Church Softball Practice, and while up at bat, suffered a major cardiac event. Immediately collapsed, and was unresponsive, no pulse just gone. He is still with us today because of some quick cation, and nothing short of a miracle. Two of his team mates preformed CPR for over 15 minutes. The EMT’s that arrived have said to this day that they did not anticipate being able to resuscitate someone in his condition. We are all extremely grateful he was given a second chance and is still with us today.

I did not own my own agency at the time, and did not know what life insurance if any he had in place. Unfortunately he did not have a plan that could aid him in this event, such as one with a living benefit. After an event like that, not many insurance companies want to extend an offer of a policy to you either.

Everyone in my household now has a plan in place, even down to my youngest 5 month old. I want to make sure the choice to hold a life insurance policy is never taken away from them because of an unknown, or uncontrollable medical condition. We never know what day we might face a similar event, but I pray that before this happens to you, we make it our goal to review your plans, and make sure we are as prepared as we can be.

I have something to ask you, if you have a story that you are willing to share, please let me know. If you want to make a plan or want more information, please don’t wait until later, call or email me now.

-David Moliterno
Moliterno Insurance
234-254-5661

The post My Story- Insure your love month first appeared on Moliterno Insurance & Financial Services.

The post My Story- Insure your love month appeared first on Moliterno Insurance & Financial Services.

As the new year begins, it’s a great time to assess your insurance coverage and make sure it’s still meeting your needs. Life can change quickly, and it’s important to ensure that your insurance policies are keeping up with those changes and providing the protection you need. We’ll discuss why it’s important to review your insurance coverage at the beginning of the year and offer some tips for finding the right coverage.

Your needs may have evolved

If you’ve experienced any major life changes, such as getting married, having a child, or buying a home, receiving an inheritance or gift, your insurance needs may have changed as well. It’s important to review your coverage to make sure you have the protection you need. For example, if you’ve recently gotten married, you may want to consider getting both you and your spouse a life insurance policy. If you’ve had a child, you may want to increase your life insurance coverage to provide for your child’s future. And if you’ve bought a home, you’ll want to make sure you have the right home insurance coverage to protect your investment.

You may be overpaying

Insurance premiums can vary widely, and it’s possible that you could find a better deal by shopping around. Reviewing your coverage can help you save money on your premiums. It’s a good idea to compare quotes from different insurance companies to see which one offers the best coverage for the best price.

Your coverage may have lapsed

It’s important to keep your coverage up to date, and if you let it lapse, you may have to pay higher premiums to get it reinstated. Reviewing your coverage can help you avoid this situation. Make sure to check the expiration dates of your policies and renew them before they expire. Many policies will automatically renew, as long as you are making payments, however it is a good idea to check on them from time to time.

Conclusion

In conclusion, reviewing and updating your insurance coverage at the beginning of the year is a smart way to protect yourself and your loved ones. By taking the time to review your coverage, you can ensure that you have the right policies in place to meet your needs and that you’re getting the best possible deal. If you have any questions or need help finding the right coverage, don’t hesitate to reach out to our team of insurance experts. We’re here to help you find the protection you need.

This information was provided by a language model trained by OpenAI.

The post New Year, New Coverage: Why It’s Important to Review Your Insurance Policies at the Beginning of the Year first appeared on Moliterno Insurance & Financial Services.

The post New Year, New Coverage: Why It’s Important to Review Your Insurance Policies at the Beginning of the Year appeared first on Moliterno Insurance & Financial Services.

In part of our ongoing series to help promote small businesses, and the positive impact they have on the local community, we also want to highlight some of the pitfalls that can come there way.

Imagine that tomorrow you went to visit your favorite local business only to find out that they closed down because the owner had retired, died or become disabled yesterday. Many businesses close for one of theses reasons, not because they want to, but because they failed to plan for one of theses events.

Some of the questions the business owner can ask themselves, would you want your business interest:

• Retained for a family member
• Sold to another owner
• Liquidated

Depending on the desired outcome these are some of the issues to consider.

Retain the Business Interest for Your Family

• Is there a capable and willing family member?
• Will the family member be acceptable to any other business owners?
• How will you or your surviving dependents replace the income previously provided by your business?
• Is there a need to equalize inheritances among family members?
• Will there be enough liquidity in your estate to pay taxes and other settlement costs?

Sell the Business Interest

• To whom will your business interest be sold?
• At what price?
• And at what events (death, disability and/or retirement)?
• What is the value of your business interest?
• Will the funds be available to complete the purchase at your death, disability and/or retirement?

Liquidate the Business Interest

• What is the value of your business as a going concern?
• How does that value compare to the liquidation value of your business?
• How will you or your surviving dependents replace the income previously provided by your business?
• Will there be sufficient funds available to allow for a planned liquidation?

The objective of business continuation planning is to assist you in evaluating which of these alternatives is most suitable for your situation and to help provide the funds that will be needed to assure that your business continuation goals become a reality.

If you know a small business, or own a small business that could use help navigating some of these questions please reach out and schedule an appointment with one of our professional agents.

The post BUSINESS CONTINUATION Pitfalls and Planning first appeared on Moliterno Insurance & Financial Services.

The post BUSINESS CONTINUATION Pitfalls and Planning appeared first on Moliterno Insurance & Financial Services.

What Is a Will?

The most basic estate planning tool, a will is the legal document that states the actions you wish to be taken after your death in regard to:the disposition of your property; the guardianship of your minor children; and/or the administration of your estate.

Do You Need a Will?

If you have a spouse, children and/or property, the answer is most definitely YES! The alternative is to allow the state in which you reside to determine: how your property will be distributed among your heirs, including who those heirs are; the guardianship of your minor children, including who will serve as guardian; and/or how your estate will be administered.

Who Can Make a Will?

State statute determines who can make a will. Generally, you must be “of age,” as defined by state law, and of sound mind. In addition, state law generally requires that your will be written, signed and witnessed by a required number of witnesses. While you can draw your own will, the preparation and execution of this important legal document is generally best left to an attorney.

Your estate plan, including wills, trusts and life insurance, should be periodically reviewed to ensure that it continues to meet your needs and objectives.

If you are or a family member would like to talk with a trusted attorney to put a plan in place please let us know and we can help get you in touch with someone to help.

The purpose of this newsletter is to provide information of general interest to our clients, potential clients and other professionals. The information provided is general in nature and should not be considered complete information on any product or concept described.
For more complete information, please contact my office at the phone number above.
Published by The Virtual Assistant; © 2019 VSA, LP

The post DO I NEED A WILL? first appeared on Moliterno Insurance & Financial Services.

The post DO I NEED A WILL? appeared first on Moliterno Insurance & Financial Services.

How much life insurance you need depends on your individual needs and your financial objectives for your family. While life insurance cannot replace you, it can provide the funds to:

• pay final expenses
• replace all or a portion of your income
• keep your family in their home
• establish a college education fund
• cover financial emergencies
• provide a child and/or home care fund

How much life insurance is enough?

This question is best answered through an analysis of your family and financial situation, as well as your financial goals and objectives.

What is the best policy for you?

All life insurance falls into one of two categories of coverage. Each category has certain characteristics that make it more suitable for certain needs:

1. Term Life Insurance

• Provides temporary protection for the term of the policy.
• If the insured dies within the term period, the insurance company pays the death benefit.
• If the insured survives the term period, the coverage terminates.

2. Cash Value Life Insurance

• Provides lifetime protection, so long as the policy is kept in force.
• The insurance company pays the death benefit regardless of when death occurs, so long as the policy is kept in force.
• The policy accumulates cash values that can be used during the insured’s lifetime (withdrawals and loans will reduce the policy’s death benefit and cash value available for use).

We hope that by giving you some of the basics to the questions many of our clients have, that you will be more prepared to to make the decisions to protect your family’s lifestyle and financial future.

If you have any questions or would like more information please reach out to our staff of professional agents.

 VSA, LP The information, general principles and conclusions presented in this report are subject to local, state and federal laws and regulations, court cases and any revisions of same. While every care has been taken in the preparation of this report, VSA, L.P. is not engaged in providing legal, accounting, financial or other professional services. This report should not be used as a substitute for the professional advice of an attorney, accountant, or other qualified professional.

The post What Type of Life Insurance Should I Buy? first appeared on Moliterno Insurance & Financial Services.

The post What Type of Life Insurance Should I Buy? appeared first on Moliterno Insurance & Financial Services.

Your earning power — your ability to earn an income —
is your most valuable asset.

Few people realize that a 30-year-old couple will earn 3.5 million dollars
by age 65 if their total family income averages $100,000 for their
entire careers, without any raises.

How Much Will YOU Earn in a Lifetime?

Your Future Earning Power If Your Family Income Averages:

What steps have you taken to protect your earning power in the event of death or disability?

How much of this money will be available to achieve future financial
objectives, such as funding a child’s college education or enjoying a
secure retirement?

How much of your earning power will you save and keep saved?

The purpose of this newsletter is to provide information of general interest to our clients, potential clients and other professionals. The information provided is general in nature and should not be considered complete information on any product or concept described.

For more complete information, please contact my office at the phone number above.

Published by The Virtual Assistant; © 2019 VSA, LP

The post HOW MUCH WILL YOU EARN IN A LIFETIME? first appeared on Moliterno Insurance & Financial Services.

The post HOW MUCH WILL YOU EARN IN A LIFETIME? appeared first on Moliterno Insurance & Financial Services.

A charitable gift is a donation of cash or other property to, or for the interest of, a charitable organization. The gift is freely given with the primary intention of benefiting the charity.Whether given during lifetime or after death, charitable gifts are eligible for a tax deduction, but only if made to a qualified charitable organization. For example, you may have a relative who has fallen on hard times, someone you choose to help with gifts of cash. While you may be motivated by charitable intentions in making these gifts, you cannot deduct them for either income tax or estate tax purposes.

In general, qualified charitable organizations include churches, temples, synagogues, mosques and other religious organizations, colleges and other nonprofit educational organizations, museums, nonprofit hospitals, and public parks and recreation areas. Gifts to these types of organizations qualify for a federal income tax deduction if made during your lifetime or, if made after your death, can be deducted from the value of your estate for federal estate tax purposes.

Why Consider a Charitable Gift?

People give to charities for a variety of reasons. They give:

Because they have compassion for the less fortunate.

From a belief that they owe something back to society.

To support a favored institution or cause.

For the recognition attained by making substantial charitable donations.

To benefit from the financial incentives our tax system provides for charitable gifts.

According to the Giving USA Foundation, individual giving accounted for 70% of all contributions to charitable organizations in 2017.Source: Giving USA Foundation™ – Giving USA 2018 Highlights

Whatever your reasons for giving, a careful review of the various types of charitable gifts can help make those gifts more meaningful, both to you and to the charities you choose to support. Please call my office if we can be of assistance.

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The post CHARITABLE GIFTS appeared first on Moliterno Insurance & Financial Services.

There are FOUR ways to fund a buy-sell plan at an owner’s death:

1. Cash Method

The
purchaser(s) could accumulate sufficient cash to buy the business
interest at the owner’s death. Unfortunately, it could take many years
to save the necessary funds, while the full amount may be needed in
just a few months or years.

2. Installment Method

The
purchase price could be paid in installments after the owner’s death.
For the purchaser(s), this could mean a drain on business income for
years. In addition, payments to the surviving family would be dependent
on future business performance after the owner’s death.

3. Loan Method

Assuming
that the new owner(s) could obtain a business loan, borrowing the
purchase price requires that future business income be used to repay
the loan PLUS interest.

4. Insured Method

Only
life insurance can guarantee that the cash needed to complete the sale
will be available exactly when needed at the owner’s death, assuming
that the business has been accurately valued.

If you had died or become disabled yesterday, who would own and manage your business today?

The purpose of this newsletter is to provide information of general interest to our clients, potential clients and other professionals. The information provided is general in nature and should not be considered complete information on any product or concept described.

For more complete information, please contact my office at the phone number above.

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The post Buy-Sell options appeared first on Moliterno Insurance & Financial Services.