Viking Magazine - August 2014 - 11

DID YOU
KNOW?
retirement income and diversify at a
point when you don't want to be as
heavily invested in the stock market.
With a permanent life insurance
policy, cash value builds up over time
providing a potential source of money
to borrow at affordable interest rates.
The cash value can help fund college
tuition, retirement or cover expense
in the case of an emergency, says Kern.
50%
of U.S. households
(58 million) say
they need more
life insurance.
41%
PROTECT YOUR
BUSINESS
For owners of small businesses, life
insurance can be a way to pass on the
enterprise when they die to another
family member or key employee. Coowners
can purchase a life insurance
policy on each other, so the benefi t can
enable the surviving owner to buy out
the remaining portion, suggested Kern.
Using life insurance as a tool in
succession planning can be a seamless
way to keep the business going, rather
than the surviving family member or
employee having to come up with a
large sum to purchase their share of the
business. The amount of premium that
a policy holder pays toward a policy
translates into a death benefi t that is a
much higher return than a typical CD
or even a good year of investing in the
stock market.
say life
events, such
as marriage, children
and buying a house,
motivated them to shop
for life insurance.
LIFE INSURANCE
ADVICE
85%
of Americans say
most people need
life insurance.
For a complimentary consultation with
your Sons of Norway Financial Benefi ts
Counselor, visit sonsofnorway.com.
Source: LIMRA & Life Foundation 2013 Insurance
Barometer Study
Most people don't have enough
life insurance, and they don't
realize it. Through a Financial
Needs Analysis with your Sons
of Norway FBC, you can get
a sense of what the situation
would be for your family in the
event that something happens
to you. People have insurance
on their home and their car, but
too often look at life insurance
as a luxury. It is one of the
three key types of insurance
you need.
« Proceeds from life insurance
can be a way to pass income
tax-free to your spouse. You
can also name your adult
children or grandchildren as
benefi ciaries as a way to gift
them with money that could
be used to fund a college
education or other expenses.
« Adding a chronic illness
rider to a life insurance policy
can be one way to have money
targeted down the road if there
is a need to cover long-term or
home healthcare expenses.
« People often procrastinate
about buying life insurance.
Once they purchase a policy,
they often say they wish they
had done it sooner. Once you
get everything in place, there
is some peace of mind for the
entire family.
-Matt Kern, FBC,
Bloomington, Minn.

http://www.sonsofnorway.com

Viking Magazine - August 2014

Table of Contents for the Digital Edition of Viking Magazine - August 2014

Contents
Viking Magazine - August 2014 - Cover1
Viking Magazine - August 2014 - Cover2
Viking Magazine - August 2014 - Contents
Viking Magazine - August 2014 - 4
Viking Magazine - August 2014 - 5
Viking Magazine - August 2014 - 6
Viking Magazine - August 2014 - 7
Viking Magazine - August 2014 - 8
Viking Magazine - August 2014 - 9
Viking Magazine - August 2014 - 10
Viking Magazine - August 2014 - 11
Viking Magazine - August 2014 - 12
Viking Magazine - August 2014 - 13
Viking Magazine - August 2014 - 14
Viking Magazine - August 2014 - 15
Viking Magazine - August 2014 - 16
Viking Magazine - August 2014 - 17
Viking Magazine - August 2014 - 18
Viking Magazine - August 2014 - 19
Viking Magazine - August 2014 - 20
Viking Magazine - August 2014 - 21
Viking Magazine - August 2014 - 22
Viking Magazine - August 2014 - 23
Viking Magazine - August 2014 - 24
Viking Magazine - August 2014 - 25
Viking Magazine - August 2014 - 26
Viking Magazine - August 2014 - 27
Viking Magazine - August 2014 - 28
Viking Magazine - August 2014 - 29
Viking Magazine - August 2014 - 30
Viking Magazine - August 2014 - 31
Viking Magazine - August 2014 - 32
Viking Magazine - August 2014 - 33
Viking Magazine - August 2014 - 34
Viking Magazine - August 2014 - 35
Viking Magazine - August 2014 - 36
Viking Magazine - August 2014 - 37
Viking Magazine - August 2014 - 38
Viking Magazine - August 2014 - 39
Viking Magazine - August 2014 - 40
Viking Magazine - August 2014 - 41
Viking Magazine - August 2014 - 42
Viking Magazine - August 2014 - 43
Viking Magazine - August 2014 - 44
Viking Magazine - August 2014 - 45
Viking Magazine - August 2014 - 46
Viking Magazine - August 2014 - Cover3
Viking Magazine - August 2014 - Cover4
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