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Workshop 
Module Four: 
Securing The 
Saunders Learning Group, Newton, KS 
Base 
Learning Group, LLC
Training from Saunders Learning Group 
Saunders 
Learning 
Group 
provides 
a 
variety 
of 
training 
programs, 
workshops...
Agenda 
Securing the Base 
Managing Adverse Events 
Life Insurance 
Disability, Medical and Property Ins. 
Updating the Ac...
"If 
you 
would 
be 
wealthy, 
think 
of 
saving 
Saunders Learning Group, Newton, KS 
as 
well 
as 
geOng.” 
-­‐ 
Ben 
Fr...
Quick Review – Financial Foundation 
Financial Plan 
! Review: 
Your 
goals, 
and 
a 
budget 
starts 
to 
put 
you 
on 
th...
Managing for Adverse Events 
! You 
could 
just 
buy 
loYery 
@ckets 
and 
hope 
for 
the 
best 
! You 
could 
just 
bury ...
Types of Insurance 
Insurance 
is 
classified 
by 
which 
type 
of 
undesirable 
event 
is 
covered: 
! Life 
Insurance 
!...
Life Insurance 
! You 
know 
that 
you 
need 
life 
insurance. 
However, 
with 
the 
wide 
variety 
of 
insurance 
policie...
Types of Life Insurance 
Saunders Learning Group, Newton, KS 
! Term 
Life: 
the 
insured 
is 
covered 
while 
the 
policy...
Term, Whole Life or Universal 
Which is Right for You? 
Saunders Learning Group, Newton, KS
Term life insurance 
With 
a 
term 
policy, 
you 
get 
"pure" 
life 
insurance 
coverage. 
Term 
insurance 
provides 
a 
d...
Types of Life Insurance Policies 
! Tradi@onal 
whole 
l ife 
i n s u rance-­‐ -­‐guaranteed 
premiums 
! Whole 
life 
ins...
Universal life 
" Universal 
life 
is 
another 
type 
of 
permanent 
life 
insurance 
with 
a 
death 
benefit 
and 
a 
cas...
Universal Life 
" Variable 
universal 
life 
insurance 
policies 
contain 
fees 
and 
expenses, 
including 
cost 
of 
insu...
Where Your Premiums Go 
1. Your 
premiums 
are 
paid 
into 
the 
Insurance 
company’s 
general 
account 
and 
used 
for 
i...
Disability Income Insurance 
! Do 
You 
Need 
Disability 
Income 
Insurance? 
! People 
ordinarily 
buy 
property 
and 
ca...
Employer Disability Income Insurance 
You might think that you are adequately 
insured against disability because you 
hav...
Do You Need Disability Income Insurance? 
! Many 
employers 
(especially 
small 
employers) 
do 
not 
offer 
disability 
b...
Saunders Learning Group, Newton, KS 
! Health 
insurance 
is 
a 
necessity 
! You 
have 
four 
choices 
— No 
coverage 
— ...
Health Insurance 
! Health 
insurance 
policies 
are 
vulnerable 
to 
the 
adverse 
selec@on 
problem. 
! Those 
with 
kno...
Group Health Insurance Coverage 
! Group insurance is most commonly offered 
through employers. 
! It is also offered thro...
Individual Health Insurance 
! If 
you 
can't 
join 
a 
group, 
consider 
buying 
individual 
insurance. 
! Unlike 
group ...
Major Medical Coverage 
! In 
addi@on, 
major 
medical 
coverage 
is 
necessary 
in 
the 
event 
of 
a 
catastrophic 
acci...
Health Insurance Providers 
! Health 
insurance 
plans 
include 
services 
provided 
by 
# health 
maintenance 
organiza@o...
Property Insurance Tips 
! Purchase 
auto 
and 
home 
owner 
insurance 
from 
the 
same 
company 
to 
get 
discounts. 
! W...
Questions 
Saunders Learning Group, Newton, KS
Post Workshop Action Plan 
! Complete 
the 
Post 
Workshop 
AcDon 
Plan 
Saunders Learning Group, Newton, KS 
27
Reference Material 
Saunders Learning Group, Newton, KS 
Family Financial Freedom 
140 pages 
ISBN 978-1-60-746269-9 
Avai...
Family Financial Freedom Seminars 
• This series of seminars on family financial freedom is available to all trainers, 
ed...
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Securing Your Financial Base Module 4 of Family Financial Freedom

The seminars are available to anyone including financial planners, and other professionals in the financial services industry who would like a set of the materials, participant's workbooks or the Family Financial Freedom book (discounts for volume purchases)You can now view the presentation here, order the Family Financial Freedom book from any of the ebook sites for iPhone, iPad, Kindle, Nook, Kobo reader etc. contact me at floyd.saunders@yahoo.com for a copy of the presentation or more information on how to get seminar materials.

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Securing Your Financial Base Module 4 of Family Financial Freedom

  1. 1. Workshop Module Four: Securing The Saunders Learning Group, Newton, KS Base Learning Group, LLC
  2. 2. Training from Saunders Learning Group Saunders Learning Group provides a variety of training programs, workshops and seminars targeted to the financial services industry. If you are financial planner, broker, tax preparer, insurance agent or banker and need seminar materials for client presenta@ons, contact us to discuss topics, pricing and custom development. Programs are available in a wide range of topics, and we are specialists in developing custom programs that are targeted to your needs. Contact the founder, Floyd Saunders at 316-­‐680-­‐6482 or at floyd@floydsaunders.com for more informa@on. Saunders Learning Group, Newton, KS
  3. 3. Agenda Securing the Base Managing Adverse Events Life Insurance Disability, Medical and Property Ins. Updating the Action Plan Saunders Learning Group, Newton, KS
  4. 4. "If you would be wealthy, think of saving Saunders Learning Group, Newton, KS as well as geOng.” -­‐ Ben Franklin subtitle date 4
  5. 5. Quick Review – Financial Foundation Financial Plan ! Review: Your goals, and a budget starts to put you on the right track ! Now adding the right forms of risk management with insurance protects those goals. ! As your build your financial security, assets can take the place of some forms of insurance. ! This is a form of protec@on against a major disrup@on in your earnings power. Saunders Learning Group, Newton, KS Financial Foundation Insurance Goals Budget Financial Records Net Worth Life Disability Health Property & Liability
  6. 6. Managing for Adverse Events ! You could just buy loYery @ckets and hope for the best ! You could just bury some cash under the maYress ! Create a “Rainy Day” or emergency fund ! Or you could buy insurance so you are covered in case of: — Auto Accident — Fire, Flood or Wind destroys your home — Disability limits or prevents you from working — An Un@mely death means you don’t have @me to build your financial security. Saunders Learning Group, Newton, KS subtitle date 6
  7. 7. Types of Insurance Insurance is classified by which type of undesirable event is covered: ! Life Insurance ! Health Insurance ! Property and Casualty Insurance Saunders Learning Group, Newton, KS
  8. 8. Life Insurance ! You know that you need life insurance. However, with the wide variety of insurance policies available, you may find choosing the right one difficult. ! It's really not as confusing as it seems once you understand the basic types of life insurance policies. Saunders Learning Group, Newton, KS
  9. 9. Types of Life Insurance Saunders Learning Group, Newton, KS ! Term Life: the insured is covered while the policy is in effect, usually 10–20 years. ! Whole Life: similar to term life, but allows the policyholder to borrow against the policies cash value. When the term of policy expires, the insured can get the cash value of the policy. ! Universal Life: includes both a term life por@on and a savings por@on. ! Annui@es: pays a benefit to the insured un@l death, to cover re@rement years. subtitle date 9
  10. 10. Term, Whole Life or Universal Which is Right for You? Saunders Learning Group, Newton, KS
  11. 11. Term life insurance With a term policy, you get "pure" life insurance coverage. Term insurance provides a death benefit for only a specific period of @me. If you die during the coverage period, your beneficiary (the person you named to collect the insurance proceeds) receives the death benefit (the face amount of the policy). If you live past the term period, your coverage ends, and you get nothing back. Saunders Learning Group, Newton, KS
  12. 12. Types of Life Insurance Policies ! Tradi@onal whole l ife i n s u rance-­‐ -­‐guaranteed premiums ! Whole life insurance is a type of permanent insurance or cash value insurance. Unlike term insurance, which provides coverage for a par@cular period of @me, permanen t i n s u r a n ce provides coverage for your en@re life. Saunders Learning Group, Newton, KS
  13. 13. Universal life " Universal life is another type of permanent life insurance with a death benefit and a cash value account. " Unlike tradi@onal whole life, universal life insurance allows you flexibility in making premium payments and investment choices. Saunders Learning Group, Newton, KS
  14. 14. Universal Life " Variable universal life insurance policies contain fees and expenses, including cost of insurance, administra@ve fees and premium loads, surrender charges and other charges or fees that will impact policy values. " The underlying funds also have fund opera@ng expenses. " The investment return and principal value will fluctuate so that when redeemed, may be worth more or less than their original cost. " A universal life insurance policy will generally provide very broad premium guidelines (i.e., minimum and maximum premium payments), but within these guidelines you can choose how much and when you pay premiums. " Reducing or increasing premiums will impact the growth of the cash value component and possibly the death benefit. " You are also free to change the policy's death benefit directly (again, within the limits set out by the policy) as your financial circumstances change. Saunders Learning Group, Newton, KS
  15. 15. Where Your Premiums Go 1. Your premiums are paid into the Insurance company’s general account and used for investments and to pay death benefits. 2. Company expenses are taken from general account 3. A part of each premium is allocated to your cash value account 4. Cash values accumulate much like a savings account 5. The face value of the policy is pure insurance 6. The policy amount is separate from the cash values. 7. If you want to access your cash, you must borrow from the cash values and pay it back (wasn’t this your money?) Saunders Learning Group, Newton, KS
  16. 16. Disability Income Insurance ! Do You Need Disability Income Insurance? ! People ordinarily buy property and casualty insurance to protect their possessions (houses, cars, and furniture) and life insurance to provide income for their survivors. ! However, many people don't think about protecDng their income with disability income insurance. ! Maybe you should consider this as part of your financial security. Saunders Learning Group, Newton, KS
  17. 17. Employer Disability Income Insurance You might think that you are adequately insured against disability because you have coverage through your employer or through government programs such as S o c i a l S e c u r i t y a n d wo r k e r s ' compensation. # Employer sponsored plans, and Individual sponsored plans are all different forms of disability insurance. # Employees commonly undervalue disability insurance because they assume they will never need it. # Unfortunately according to a recent study, most people estimate they have only a 16% chance of becoming disabled during their working years. # Employees under age 35 have a one in three chance of being disabled for at least six months during the course of their career. # Men have a 43% chance and women have a 54% chance of becoming seriously disabled during their working years. Saunders Learning Group, Newton, KS
  18. 18. Do You Need Disability Income Insurance? ! Many employers (especially small employers) do not offer disability benefits, and government programs may pay benefits only if you meet a strict defini@on of disability. ! Here's an idea of the benefits you may already have, as well as their limita@ons: # Social Security: Although you shouldn't overlook the disability benefits you may be eligible to receive from Social Security, you shouldn't rely on them, either. # Workers' compensa@on: If you're injured at work or get sick from job-­‐related causes, you may receive some disability benefits from workers' compensa@on insurance. # The amount you receive depends on the state you live in. # However, when you review your disability income insurance needs, remember that workers' compensa@on pays benefits only if your disability is work related, so it offers only limited disability protec@on. # Group Coverage with employer: Check your coverage and how it might be reduced by social security or worker’s compensa@on. # Individual plans: Where necessary you may want an individual plan to fully protect your income, should you become disabled. Saunders Learning Group, Newton, KS
  19. 19. Saunders Learning Group, Newton, KS ! Health insurance is a necessity ! You have four choices — No coverage — Government care — Individual medical plan coverage — Some sort of group plan ! The cost of medical care is soaring higher every year, ! For most of us it is difficult (if not impossible) to pay medical costs out of pocket. Health Insurance
  20. 20. Health Insurance ! Health insurance policies are vulnerable to the adverse selec@on problem. ! Those with known or expected health problems are more likely to seek coverage. ! This is why most health insurance is offered through group policies. Individual policies must be priced assuming adverse selec@on. ! Health insurance is a hot topic in the poli@cal environment, focusing on increased costs and availability of coverage. ! Insurance programs are aYemp@ng to shil costs to the employers. ! Health Maintenance Organiza@ons are another aYempt to keep costs down. Saunders Learning Group, Newton, KS
  21. 21. Group Health Insurance Coverage ! Group insurance is most commonly offered through employers. ! It is also offered through some civic groups and other organizations (e.g., auto clubs, chambers of commerce). ! A single policy covers the medical expenses of a group of people. ! All eligible members of the group can be covered by a group policy regardless of age or physical condi@on. ! The premium for group insurance is calculated based on characteris@cs of the group as a whole, such as average age and degree of occupa@onal hazard. ! It's generally less expensive than individual insurance. Saunders Learning Group, Newton, KS
  22. 22. Individual Health Insurance ! If you can't join a group, consider buying individual insurance. ! Unlike group insurance, individual insurance is purchased directly from an insurance company or agent. ! The cost and range of protec@on that your health insurance provides will depend on your insurance provider and the par@cular policy you purchase. ! You may have comprehensive health insurance that involves several types of coverage. ! Or basic coverage that includes hospital, surgical, and physicians' expenses. Saunders Learning Group, Newton, KS
  23. 23. Major Medical Coverage ! In addi@on, major medical coverage is necessary in the event of a catastrophic accident or illness. ! Many plans also cover: # prescrip@ons # mental health services # and other health-­‐related ac@vi@es (e.g., health-­‐club memberships). Saunders Learning Group, Newton, KS
  24. 24. Health Insurance Providers ! Health insurance plans include services provided by # health maintenance organiza@ons (HMOs) # preferred provider organiza@ons (PPOs) # point of service (POS) plans # exclusive provider organiza@ons (EPOs). ! You can obtain health insurance through tradi@onal insurers like Blue Cross/Blue Shield. # These plans usually allow you flexibility regarding choice of doctors and other health-­‐care providers. # Some policies reimburse you for covered expenses, while others make payments directly to medical providers. Saunders Learning Group, Newton, KS
  25. 25. Property Insurance Tips ! Purchase auto and home owner insurance from the same company to get discounts. ! Where possible raise your deduc@ble (because you have an rainy day fund, you can afford to pay more of any claim and reduce your premiums. ! Insurance companies pull your credit report and rate your premium according to your credit score, so work to improve your credit ra@ng. ! Ask for discounts: Good Driver, Smoke detectors, alarms etc. ! Above all, shop and compare quotes ! Always purchase insurance from reputable companies ! When buying a new car, check with your agent on thel rates and repair costs the right car can same you money on the premium. Saunders Learning Group, Newton, KS subtitle date 25
  26. 26. Questions Saunders Learning Group, Newton, KS
  27. 27. Post Workshop Action Plan ! Complete the Post Workshop AcDon Plan Saunders Learning Group, Newton, KS 27
  28. 28. Reference Material Saunders Learning Group, Newton, KS Family Financial Freedom 140 pages ISBN 978-1-60-746269-9 Available Formats: 6"x9" paperback PDF download eBook download Link to order: http://www.fastpencil.com/publications/4498-Family-Financial-Freedom? tid=bookbuy#read_book Also available on Kndle, Nook, iPad and other popular e-readers can be ordered from Amazon or Barnes and Noble in paperback (available soon). Book summary: You might be struggling to make ends meet, but achieving true financial freedom is still possible. The good news is virtually anyone with a desire to learn and the willingness to plan can achieve a considerable degree of financial security. This book is a road map to the personal financial freedom you want and deserve. There are no quick-rich schemes here, just common sense advice on how to manage your money, protect your family from risks and start making the moves to being more financial secure.
  29. 29. Family Financial Freedom Seminars • This series of seminars on family financial freedom is available to all trainers, educators and professional advisors in the financial services industry. • The series of seminars can be taught with or without the book, “Family Financial 1. GeOng Started 2. Making Your Money Work For You 3. Building the Base 4. Securing the Base 5. Financing Your Future Saunders Learning Group, Newton, KS 6. Mutual Funds 7. Real Estate 8. Your investments 9. ReDre in Comfort 10. Passing On Your Wealth 11. How Professional Can Help Freedom”. • Here is a full listing of seminar topics: • A leader’s guide and participant’s workbook is also available. Order your copy from Scribd • Contact the author, Floyd Saunders for pricing and order details to purchase the entire series of seminars: floyd.saunders@yahoo.com

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