Viking Magazine - March 2015 - 10
Finance
THE NORDIC PROTECTOR
This year, Sons of Norway started offering members
The Nordic Protector, a new simplified issue single
premium whole life product. " The face amount of this
life insurance policy can range from $5,000 to $50,000
for those age 60 to 85 and $10,000 to $50,000 for those
up to age 59, which is plenty to pay for a funeral or
any other purpose designated by the owner, " says Len
Carlson, director of agencies for Sons of Norway.
Qualifying for and purchasing The Nordic Protector
is simple. First, the applicant must answer five basic
questions-compared to about 15 on a typical policy.
There are a few items ordered by the company's
underwriting department, but there is no medical exam or
attending physician statement required.
Once the application is complete, the client pays for the
policy in one lump sum. This might come from money in
a mutual fund, annuity, certificate of deposit or money
sitting in a checking account. " There is one premium that
gives the client a guaranteed fixed death benefit and a
guaranteed cash value, " Carlson says. " We expect a lot of
seniors will like this. "
PLANNING PROVIDES PEACE OF MIND
Most Americans, including those over 60, often don't
have enough life insurance, says Carlson. But having a
policy can be a central part of estate planning. This new
single premium can be an additional, separate policy that
seniors take out to supplement other coverage or as a
stand-alone policy, he adds.
Preparing for Final Expenses
A look at Sons of Norway's new product,
The Nordic Protector.
A
lthough it may be a difficult topic to discuss, it's
important to have open communication with loved
ones about your final wishes for a funeral. When tragedy
occurs, the last thing you want is for your family to face the
burden of final expenses, such as funeral costs, medical bills
and legal fees.
Final expenses continue to increase faster than the rate of
inflation. A funeral (not counting associated fees) averages
about $7,000, according to the National Funeral Directors
Association. That amount is projected to double in the next
15 years. A recent National Foundation for Credit Counseling
online poll found that 83 percent of Americans are either not
prepared to take on the financial responsibilities associated with
a funeral, or had no idea what a funeral costs. One way to cover
final expenses is with life insurance.
10 VIKING MARCH 2015
sonsofnorway.com
Those who have done a good job in planning with
life insurance might not want to deplete their death
benefit paying for final expenses, said Ken Thul, Sons
of Norway's advanced financial consultant. A single
premium policy can be a supplement that takes care of
those costs and leaves the remaining benefit for designated
family members.
" Older people think about their own mortality every
day, " Thul says. " They are aware of the reality of it. "
They are often very receptive to someone sitting down
and setting up a plan for their final expenses. However,
even individuals in their 30s should plan ahead. While
they often think they are invincible, things happen.
Planning for final expense needs will be one less item for
your loved ones to worry about in a time of sorrow.
For more information on Nordic Protector or any
of the other insurance products available from Sons of
Norway, contact your local Sons of Norway Financial
Benefits Counselor.
http://www.sonsofnorway.com
Viking Magazine - March 2015
Table of Contents for the Digital Edition of Viking Magazine - March 2015
Contents
Viking Magazine - March 2015 - Cover1
Viking Magazine - March 2015 - Cover2
Viking Magazine - March 2015 - Contents
Viking Magazine - March 2015 - 4
Viking Magazine - March 2015 - 5
Viking Magazine - March 2015 - 6
Viking Magazine - March 2015 - 7
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