Families First Financial

“It is only when we take chances, when our lives improve. The initial and the most difficult risk that we need to take is to become honest. —Walter Anderson

Your adjusted gross income (AGI) is your taxable income minus certain deductions. It’s a key number because the IRS uses your AGI to determine whether you qualify for other tax credits or deductions.

Like most life insurance, mortgage protection insurance eases the financial burden of your loved ones. It is an affordable way of ensuring that your home is paid for no matter the circumstances. Cancer, stroke, heart attack, injury, death—your family will never be in jeopardy of losing its home as long as you put a custom mortgage protection insurance plan in place.

A capital gain occurs when you sell a capital asset, such as real estate, stocks or bonds, for more than you paid for it. The amount of taxes you pay depends on how long you hold your capital asset.

Risk clarification is the step in the life insurance underwriting process in which a company assesses and classifies an applicant’s risk of mortality.

“Don’t wait your turn. Bet on yourself and have the confidence to stand up and say, ‘My time is now.'” —Robert F. Smith, businessman

34 percent of individuals aged 18 to 24 own life insurance, whereas 57 percent of individuals aged 65 and older own life insurance according to LIMRA’s Insurance Barometer Study.

Living benefits are exactly what the name implies. They are benefits paid from the term life policy while you are living. More commonly, they are known as accelerated death benefits. With these benefits, the life insurance company pays or advances a portion of the policy’s death benefit to you to pay for care or treatment. The company will then pay the balance of the death benefit to your beneficiary(s) if you were to die.

The Time Value of Money is a concept that cash flows of equal dollar amounts separated by a time interval have different present values because of the effect of compound interest.

Insurable interest is proof that a person who takes out a life insurance policy on someone else has a substantial and lawful emotional or financial interest in that person’s continued wellbeing. An insurable interest is mandatory when applying to purchase life insurance on another person.

“If people are doubting how far you can go, go so far that you can’t hear them anymore.” —Michele Ruiz

Around 65% of adults that don’t have life insurance say they don’t know how to buy a policy or aren’t sure what life insurance is right for them.

A typical Individual Disability Income Protection plan starts to pay benefits after you have been off work for 1 to 6 months, and pays benefits for several years or until retirement age, depending on the policy.

Builder's risk insurance usually is in the name of the contractor or the property developer, but it could also be in the name of the property owner if he is responsible for insuring it while the property is under construction. Both commercial and residential construction sites might be covered under a builder's risk insurance policy.

Fast Fact: Term life insurance policies expire after a certain number of years. Permanent life insurance policies remain active until the insured dies, stops paying premiums, or surrenders the policy.

With Life Insurance a “Standard Risk” is a person who, according to a company's underwriting standards, is considered a normal risk and insurable at standard rates. High or low risk candidates may qualify for extra or discounted rates based on their deviation from the standard.

“Every champion was once a contender that didn’t give up.” ―Gabby Douglas

Key person (employee) insurance is a particular type of life insurance policy taken out by a company on one of their employees, in which the company is the beneficiary in the case of that employee's untimely demise.

Final expense insurance is a perfect alternative to traditional life insurance because it is more affordable, no medical exam is required, and premiums will not increase over time.

If you're considering securing you and your family’s financial future, we would be happy to review your current situation and offer a few ideas on how you can protect it!

All dreams are within reach. All you have to do is keep moving towards them. – Viola Davis

Universal Life Insurance was created to provide more flexibility than whole life insurance by allowing the policy owner to shift money between the insurance and savings components of the policy.

A “Limited Pay” policy is a type of whole life insurance, where premiums are paid only for a limited number of years. Your coverage will still last a lifetime.

“I'd rather attempt to do something great and fail than to attempt to do nothing and succeed.” -Robert H. Schuller

Life insurance may be one of the most important purchases you'll ever make. In the event of a tragedy, life insurance proceeds can help pay the bills, continue a family business, finance future needs like your children's education, protect your spouse's retirement plans, and much more. If you're considering securing you and your family’s financial future, we would be happy to review your current situation and offer a few ideas on how you can protect it!

Term life insurance is a low-cost way of providing maximum coverage for your family. Protection is provided for a limited number of years. The insurance expires without value if the insured lives beyond the policy period, usually 5 to 30 years.