Issue link: http://read.dmtmag.com/i/63224
NCSF's Level Premium Term Insurance offers low premiums to ensure protection for the expected time frames of 10, 20, or 30 years. During the level period selected, the premiums will remain the same. Although it is intended to cover only that time frame, two safeguards are built in should your needs last longer; you can either continue the plan after the level premium period by paying increasing premiums to age 95, or you can convert the coverage to a permanent plan – regardless of your health. As a result of the conversion feature, Level Premium Term can serve as entry level insurance coverage for young adults on a tight budget who can then convert their certifi cates to permanent insurance later when income is greater. There are several methods used to calculate an individual's need for life insurance. They include, but are not limited to: Rule of Thumb, Human Life Approach, and Needs Based Approach. RULE OF THUMB APPROACH = This is the simplest of the methods. Simply multiply the annual salary of the Insured by a factor, usually 5 times. Thus, if you are making $35,000 a year, a certifi cate with a benefi t of (35,000 x 5 =) $175,000 would be appropriate. HUMAN LIFE APPROACH = This method requires a more complex calculation to what your economic contribution to your family would be over your expected lifetime. NEEDS APPROACH = This is the most comprehensive of all methods, as all upcoming expenditures are reviewed to determine the amount of insurance needed. Total assets are subtracted from the total fi nancial obligations to determine the amount of life insurance needed. These obligations include mortgage payments, future educational expenses, and future income for family, funeral expenses, and more. After settling on a suitable policy amount it's important to which type of insurance, or which mix of types, provides the combination of protection and cost that is best for you. Term Life insurance may be one of the best deals in town, and if you are a shrewd consumer, then NCSF's Level Premium Term Life could be just the option you are looking for. Our 10-, 20-, and 30- Year Term Life certifi cates offer comparable benefi ts at a price you may often fi nd is as low as, or sometimes even lower than, the largest commercial companies and fraternal benefi t societies. Please see the back page of this magazine to see how NCSF term life insurance rates compare to the rates of other insurance carriers. You'll want to fi nd a qualifi ed insurance producer to assist you with your insurance purchase, so please visit our website at www.ncsf.com to fi nd your local NCSF insurance producer. You can also contact our Home Offi ce Solutions Center, at 800-344-6273 ext. 210 or 234, for assistance in fi nding an insurance producer near you. Call today! Spring 2012 — www.ncsf.com 19