Nobody wants there to be any problems for your beneficiaries when they try to find and submit the claim form for your life insurance after you die.To simplify things and prevent this, you need to keep at least 2 copies in two different places of your life insurance papers.Doing this makes it less likely to lose them through a flood, fire or from accidentally throwing them out, thus making it more likely for your beneficiaries to find them after your death.For every individual life insurance policy that you have it's important that you record a few types of information.Things such as the full name of the company whom issued your policy, state and city for the company's home office who issued your policy, policy number and date it was issued, amount of death benefit, policy type such as term and whole, your life insurance policy's original location and U.S headquarters and name of group if it happens to belong to a group.You may automatically receive life insurance through your employer.You may also be offered the chance to purchase extra life insurance from your employer through a group policy.And upon doing this you may also become eligible to purchase life insurance through a group policy from a trade association or union or other types of groups you might belong to such as automobile clubs and college alumni associations.For any of these type of life insurance benefits you should keep the following information. the name of group or employer who sponsors your insurance, person or office that needs to be contacted when you need to file a claim, certificate number, date that the insurance started and amount of death benefit.Sometimes a financial program that is mostly created for income and other reasons have death benefits as an additional feature.This could include annuities, pensions, disability insurance, worker's compensation and travel insurance, etc.For this type of program you should keep the following information. type of policy that contains death benefit attached to it's features, full name of life insurance company who issued your policy, state and city for the home office where your policy was issued, policy number, date policy was issued, amount of death benefit, the broker or agent's name and address who sold you the policy and the location of your original life insurance policy.Lending institutions and credit cards will sometimes offer you life insurance in order to pay off any of your outstanding loans in the event that you die.For all of the life insurance benefits on your life who's dedicated in paying a loan off for you, you should keep the following information. full name of lending institution, loan number and date it was issued, name of office of person you should contact when the time comes for a claim to be filed and policy number.You should plan to safely keep a set of the records in your house, preferably in a place where others who needed the information could easily find it.Make sure that the people are informed of where it is.Another set of the records should be kept somewhere else such as a safe deposit box, with a professional or relative that you can depend on.Each page should have the date that they were last updated on.This way if the copy in your home is different from the other one then you'll be able to tell the newer one from the older.

Membership marketing is not new.The American Medical Association was founded in 1847, while the Marine Corps Association was formed in 1913, to cite a few examples.But membership marketing seems to be gaining traction in today's marketplace.The world's largest circulation magazine.Yes, it's AARP, The Magazine, which arrives at 24 million households each month.According to Lin MacMaster, Director of Membership Development for AARP, the magazine is a tangible benefit, but it plays a supporting role in providing information to help individuals age with grace and dignity and lead purposeful lives.MacMaster believes people are joining for the full array of benefits.She states that the main benefits of membership include being part of a force of over 36 million Americans who are attempting to remain healthy and live life the way they want to live it, navigating the waters as life changes.Founded in 1958, AARP is a huge advocacy organization on both the federal and state levels, says MacMaster.The organization has three divisions - a foundation, a non-profit and AARP Services, a for-profit division where AARP partners with insurance companies and other providers, delivering unique benefits to members.Membership costs $12.50 annually; two and three year memberships are also available.According to MacMaster, the AARP card has a high perceived value and is frequently used to obtain discounts.AARP The Magazine is not available by subscription, but does have some distribution in doctors' offices.Associate members (those under 50) can get the magazine as well.While the magazine offers feature articles, news is covered in the AARP Bulletin, a full-color newspaper.Both accept advertising.AARP also offers members free e-newsletters on an array of topics, including caregiving, health, wellness and financial well-being.Segmenting the Market.Currently, AARP is moving away from a mass approach to acquisition to a segmented approach.They are mailing their control packages less - a standard package and a snap pack - and testing packages to specific groups.Rather than what MacMaster refers to as the pu pu platter approach (something for everyone) AARP has been testing topics that resonate with the 50-59 year-old segment including caregiving, financial security and health and wellness.They are also tweaking language and offers, testing formats and messaging, and experimenting with information offers and premiums and freemiums tied to their value proposition (Tips for financial well-being, Tips for Turning 50, pedometers).Over the last two years AARP has also done a lot of channel testing utilizing the web, AdvoSystems, FSIs, radio and TV that is showing promise.Getting Promotional.As for renewals, AARP uses a 7-effort series.They are testing shorter and longer versions as well as different messages to different audiences (first time renewal versus longstanding member) and trying more promotionally based offers tied to longer terms.On their website, I noticed a "Win-Win Membership Sweepstakes" for a 16-day expedition and cruise to Antarctica.Renewals are also handled via their customer care calls for those who call in.AARP is looking to the web and all member touch points for additional renewal opportunities.MCA - Membership with a Mission since 1913.The Marine Corps Association is the professional organization for all Marines--active duty, Reserve, retired, and Marine veterans.Annual membership costs $21 for enlisted and $32 for officers, and will be going up in April.MCA publishes not one but two monthly magazines - Leatherneck - Magazine of the Marines and Marine Corps Gazette.Both accept advertising.Bill Hughs, Director of Marketing, indicates Leatherneck offers more general interest/news while the Gazette is a professional journal, covering issues that face Marines every day.Members get a choice of magazines, and some take both.The magazines are available to non-members with 1775 current non-member subscribers.MCA puts out 4,400 issues as single copies at base exchanges, MCA bookstores and kiosk stands inside some commissaries.The magazines are also available at the Quantico Amtrak station and other newsstands near bases.MCA currently does catalog marketing and finds 67% of their retail sales are from members, who enjoy a 10% discount on catalog products.An Association in Flux.Almost 90,000 members strong, the association is currently reorganizing, evaluating whether the magazines are their main raison d'etre.Hughs states that members perceive the magazines are the main benefit.E-newsletters are also sent out to members.The membership card does not have a high perceived value, he says, as the association has not adequately promoted the other benefits which include retail discounts and travel, to name a few.Hughs stated that MCA is taking another look at lists, affinity partnerships, positioning, segmentation and messaging.They will do research, focus groups and talk to members.Currently, 62% of their membership is over 40, and they need to do a better job of reaching younger Marines (Generation X).Hughs believes this is because they've been using directive language in their messaging, and Gen X is not receptive to this approach.Hughs plans to change the creative, relaunch the magazine and review the renewal and expire programs to increase their membership base.The Good Sam - a For-Profit Association for RVers.According to Sue Bray, The Good Sam Club offers a valuable package of benefits that promote the RV lifestyle.A membership survey reveals the campground discount is the top benefit, while the magazine, Highways, is next and their web-based trip routing service is third.Other benefits include Good Sam events and member-to-member online forums.Bray is unsure if the membership card has a high perceived value.Membership costs $25/year for the basic dues.Highways is a monthly magazine which accepts outside advertising.The club also markets branded Good Sam products, such as the Good Sam Continued Service Plan, which protects members against paying huge repair bills should something go awry in their rig.Reaching Boomers through Ads, Direct Mail, Point of Sale.Good Sam is in the mail about once a month, always testing new formats.Direct mail is their main source, but they also test E-mail marketing and send an E-newsletter to members.Their DM control is a #10 envelope 4-5 page letter, response device and membership decal.Bray says that people like the decal.They have also succeeded with a member get a member campaign.Good Sam Club utilizes a 9-effort renewal series and maintains the same offer throughout the series.The association also sells memberships at campgrounds, RV shows and camping stores, as well as through Life and MotorHome magazines.As a result of their outreach efforts, the association has been growing 1-2% per year and keeping pace with the market."Baby boomers getting into the RV lifestyle have helped fuel this growth," said Bray.While Good Sam is a mature organization that's been around for 40 years, they are always trying to improve and provide an enhanced benefit package to members.The World's Largest Affinity Lifestyle Membership Company.Such is the claim of the North American Membership Group (NAMG) established in 1978.NAMG is a for-profit company that combines membership, publishing and merchandise marketing.The North American Hunting Club was first, followed by the North American Fishing Club, the Handyman Club, the National Home Gardening Club, the PGA Tour Partners Club, the Cooking Club of America, the National Health & Wellness Club, the Creative Home Arts Club, The History Channel Club and the National Street Machine Club.NAMG has 10 clubs in all, with 10 magazines, reaching more than 4.7 million active enthusiasts and 21.8 million readers.The company maintains that NAMG's magazines achieve something that newsstand publications cannot - a deeper reader relationship with unmatched interaction between writers, editors, and member readers.Member benefits include.OFull-color magazine delivered 6 to 8 times a year.OMember-only interactive web sites with information archives, bulletin boards, event calendar, weekly polls, trivia contests.OOpportunities to test/keep products related to the club's lifestyle.OGiveaways of products, services and travel.OMember-to-member forums and informational support.OSpecial information resource directories.OExclusive product purchasing opportunities.OMember-only events, competitions and contests.ODiscount opportunities on selected products and services.Cooking Club of America - A Closer Look.In addition to Cooking Pleasures magazine, members enjoy free product testing privileges, free recipe cards, cooking school discounts, menu ideas, a recipe reprint service, and more.While bind-ins invite members to join, renew or give the gift of membership at $2.00 a month ($24 annually) with a hard offer, an online offer solicits members for a "Free No-Risk Trial Membership for 30 days.".Those who sign up for the free trial receive a Thank You package in a #10 window envelope with a brochure extolling the benefits of membership, a letter indicating they have already received the first issue of Cooking Pleasures, and a perf-off Membership Dues Invoice for $12.00 for 12 months.A 4-color buckslip invites prospective members to receive a free multipurpose grater (a $20.00 value) by returning the buckslip with their payment.Prospects are enticed with the possibility of winning free kitchen utensils, gourmet food, and more.The website indicates that 84% of each year's dues is for one year of Cooking Pleasures.Smart Marketing.Remember when a credit card was merely a plastic card issued by a bank authorizing payment for purchases? Now, many are portals to a world of benefits ranging from airline miles to merchandise points.So, too, membership marketers provide added value by offering magazines PLUS an array of services (and sometimes an entire community) that tie members more closely to their brand and promote loyalty.Now that's smart marketing!

There are so many financial planning strategies that make sense when using reverse mortgages.Some times adult children of aging parents need just as much or more education than the seniors themselves.After all, this is a relatively new concept, and often seems to good to be true.The important thing to remember is that reverse mortgages (also called Home Equity Conversion Mortgages) are backed by the federal government, and protections have been put in place for seniors and their families.Heirs need to understand that with proper estate planning, they stand to inherit more than the value of their parent's home.A reverse mortgage is one way to make that happen.The National Council on Aging supports and advocates the use of reverse mortgages for long-term care planning and for managing the crisis of long-term care.Obviously, there are times when a client will not qualify for long-term care insurance, but fortunately, if they are a homeowner, there are still ways that we can help them.That's why it's so important for you to know the basics about reverse mortgages.Anyone who serves the senior market should have access to this important financial planning tool.For the NCOA statement and press release go to www.Ncoa.Org and search for "reverse mortgages".AARP is also a supporter of this federally backed program for seniors.Www.Aarp.Com.Let's look at an example case scenario, with a client who wants to purchase long-term care insurance and life insurance.Jane Smith lives in St.Louis, Missouri.O65 years old.OOwns a home worth $200,000.OStandard health rating.O5 year plan.OCompound inflation protection.O90 elimination period.O$150/day coverage- comprehensive.OAnnual premium total for both to have coverage. $4548.Jane is eligible to receive a lump sum of $99,657.03, from the equity in her home.Jane will purchase a life insurance policy by paying a one time premium of $50,000.OJane leaves the remaining $49,657.03 in a line of credit that grows at 6.35% per year.OShe pays her annual LTCi premium from the line of credit every year.This means that Jane will leave her heirs a death benefit of $222,736, plus the value of her home minus her loan balance.She will be protected from the catastrophic cost of long-term care, and will be able to stay in her home to receive that care.You have now helped her heirs to receive a tax free inheritance that is worth more than the current value of her home.Jane did all of this without touching a penny of her savings, investments, or current income.In fact, you handed her and her heirs the cash flow they needed to keep her safe for her remaining years.Get educated.If you want to sell more LTCi, my suggestion is to have access to all of the tools you need to make that possible.Team up with someone in your community who can write reverse mortgages, or learn how you can write them yourself! Below is a review of common myths and misconceptions about reverse mortgages in case you missed this column last month.Common client myths and misconceptions about reverse mortgages.(a.K.A.Home Equity Conversion Mortgages)..The Lender will own my home.FALSE!You, your family or estate continue to retain ownership of your home.The Lender does not take control of the title.The lender's interest is only to the extent of the outstanding loan balance.As with a traditional mortgage they never have ownership in the property.The Lender cannot wait for me to "get out of my house" so the lender can be repaid.FALSE!The HUD approved Lender(s) are not in the business of selling homes.However, with the support of HUD they are in the business of helping seniors keep their homes and being able to use some of their equity to meet whatever financial needs they may have - without causing further financial difficulties by requiring a mortgage payment.My heirs will be responsible for repayment of the loan.FALSE!The Home Equity Conversion Mortgage is a Non-Recourse Loan, this means that the lender can only recover repayment of the loan from the proceeds of the sale of the property.If the property decreased in value and the loan amount was greater, the lender is paid the difference from the HUD Mortgage Insurance.Your heirs will not be responsible for the repayment of the loan.Home Equity Conversion Mortgages are very safe.TRUE!FHA and FannieMae guarantee the payments that are made to you (not applicable to CASH Account option).You continue to own your home and are guaranteed that you can stay in your home as long as you like, AND.You (the Borrower) are guaranteed that you can never owe more than your house is worth.All of the above guarantees are further backed by the HUD Mortgage Insurance on HECM's.

From the Heartland of America, economics takes on the familiar face of someone you know, who may have recently lost his/her job.Should we blame the politicians in Washington, DC of this party or that? Probably not.On the other hand, should we blame members of organized labor or union bosses for asking for "too much" money? "No" because it's their job to at least ask the question.Or, perhaps, we may be tempted to blame senior management executives for their alleged "corporate greed." Once more, the answer comes back as "No" from analysts without "an ax to grind.".And, so, who is to blame, you might logically ask for the loss of so many manufacturing jobs in America during a time when most forecasters and government statisticians have said our economy is recovering? The real answer is the advent and increasingly rapid adoption of a global economy for our model, where everyone from all over the world becomes increasingly woven together.The short-term winners in this scenario become China, India and Mexico, in particular, in relationship to the loss of US manufacturing jobs due to an ever improving infrastructure in those countries plus cheap labor.Never did this point become clearer than when a headline in The Financial Times, the global business and financial community newspaper, proclaimed that Levi's was ending its production in North America.And, yet, what could possibly be more American than a pair of Blue Jeans?What are the politicians to do? The professional economic development community of city planners and Vice Presidents of Economic Development for regional chambers of all sizes in America have begun to mobilize.Yet, the answers are hard.Many people frankly do not want to have the questions asked, much less begin to listen to the solutions.But, please understand this point.According to a 2004 Study from the AARP, 79% of our baby boom generation of men and women born between 1946 and 1964 currently expect to work in some type of capacity.However, approximately a quarter of the 77.5 million men and women, who fall into this category, expect to do so because they think they'll need the money.Sometimes, there may not be any choice.So, all of us need to be willing to demonstrate a greater degree of flexibility.Specifically, if we find ourselves out of a job in one place in America, we need to be prepared to move somewhere else, where jobs in our field/industry may be more plentiful.Also, we need to be willing to take advantage of state and county-sponsored job training programs.In this way, our basic skill set can be improved, which will also lead to a higher pay level, as well.We also need to consider going back to school, depending on our current age.In addition, someone also needs to say loud and clear that there are already growing shortages of qualified workers to teach the children in our nation's schools.We are also beginning to experience nationwide shortages of nurses and pharmacists, as our baby-boom generation begins to retire.Of course, you may have no interest in those options.And, so, please also understand that our nation's largest trucking companies are always looking for men and women, who are willing to be trained as drivers.While these jobs are difficult, they can also pay between $40,000 and $60,000 per year or more.For more information from a listing of these companies, please visit http.//www.InboundLogistics.Com.Our nation will also increasingly require workers at different skill levels to work in our distribution centers/warehouses.These jobs for unskilled labor will range in pay from $7/hour to approximately $20/hour, depending on the center's proximity to a major city.Are there jobs in America? "Yes," but our attitude can and will make a huge difference.The old job models have changed at the same time many of us may still be clinging to those old ideas and attitudes about what constitutes work in America for blue-collar and white-collar employees alike.Downsizing Hurts People.The appropriate word is "Ouch!" Invariably older employees are the ones being downsized or right-sized in Corporate America.Of course, all HR departments will deny the truth of this statement.But, I offer one simple question as a means of illustrating this most appropriate point.Specifically, when a down-sizing formula is developed, how often is the winning formula some type of combination of years of service (which suggests an older employee) plus age (which again requires an older employee in order to max out on the formula)?This writer has seen full retirement befits provided for friends who are age 50 or 55 consistently on the basis of the use of this type of formula, which in some cases, can even be enhanced by the addition of additional years of age or service.This development suggests that younger and younger employees are taking advantage of such provisions for financial reasons.By younger on this point, I mean age 50 and over.But, make no mistake about it. Age is the "key" factor involved in corporate reorganizations.Healthcare Costs Are the Real Culprit.Have you asked one of your previously down-sized friends how much he/she pays for healthcare lately? When the COBRA formula runs out after 18 months, you may be amazed to find out that a married couple in Illinois, for example, may pay $15,000/year for their coverage, assuming that there's nothing really wrong with them.In that event, the most economical health insurance providers will simply deny them coverage.Then, think about adding another, large chunk of money to that amount for coverage that employees previously took for granted at ridiculously low rates, which were even subsided by corporate America.Here's a twist on the above formula.Have you met or talked with one of your friends lately, where his wife is actually working for 24 hours (i.E.3 days) each week as a city librarian essentially because of the full-time employee status she gets, which then qualifies her to cover her family on a group health insurance basis for a "low cost?" A medical/dental/prescription drug benefit coverage on a low cost basis, without his/her spouse being disqualified due to some condition such as high blood pressure or diabetes, becomes a very tempting reason to take a lower-paying job for the benefit of your family.The Medicare Gap Dilemma.If you're over age 50, how often have you had the conversation with more than one of your friends lately about getting to the age when your Medicare benefit will kick into gear so that you can then buy lower cost health insurance for your family? Between ages 55 and actual retirement, for example, this challenge alone can be daunting.Neither federal or state politicians have been able to develop pools of small businesses, with their employees, so that these companies could collectively aggregate to reasonably buy into such a group plan, except on a last resort basis at the state level.When someone leaves the employment of that large or mid-sized company or government job, for example, the days of excellent and inexpensive health insurance are over.And, so, strategies for receiving lower cost health/dental/prescription drug coverage during these "gap" years for you and your family becomes an important objective and necessity.No one I know wants to run the risk of no insurance coverage in the meantime versus some type of unforeseeable expensive hospital stay for a family member.A no-insurance strategy for anyone with assets at all is simply not an option outside of a personal bankruptcy.Of course, that type of personal risk management represents no strategy at all.The Self-Employment Model Gains Momentum Today.After being downsized a time or two, how many of your friends have now come to the same inevitable conclusion, regardless of where they live, regardless of their education level or occupational category and regardless of their gender or race? Plenty of them, according to my own experience in this area.Just think about it.On the first day of your own business, you can get up and begin to wash your face/shave.As you do so, you should take a moment to stop and look at your best employee in the mirror.A suggested next statement from you might/should go as follows. "Jim, you're the very best employee I've got.And, I promise I will never fire you or downsize you from this company.Go get 'em, Tiger!".Of course, while there are risks inherent in pursuing this type of vision, there are also obvious rewards, too.Many men and women, with long employment histories at some large company who then receive a large severance check as each one exits, will now wake up to the starting capital they require to pursue this dream.I have been blessed to meet a large number of men and women, who fall into exactly this category.This very circumstance may be precisely what you needed to take this step since the necessary capital is now available.Future Labor Shortages Will Rule the Day.The best news for you as a 50+ year old is this. Because of the upcoming retirement of the largest age bloc in America, labor shortages will actually begin to develop in virtually every type of conceivable labor category there is in our country.This development, in the future, will benefit all employees/self-employed men and women in the labor market.Increasingly, we will be able to work on terms, which will best suit us and our unique circumstances.We will be able to work part-time for three days each week, two days/week, three days each week on a 4 hour/day basis and many other versions thereof.We will also, in the future, be asked to continue to work past normal retirement age or we will be asked to continue working at "the company" as an independent contractor after our "official retirement.".The demand side of the labor equation will simply flip from employer to employee/independent contractor in the future.Otherwise, how will all of the work get done 10 years from now, for example? Just smile, as you think about this statement, because most of us, who are reading this prediction, will no doubt live to see this development take place.We will likely even be courted to continue working on some type of basis due to this upcoming labor shortage.Companies may even develop some type of "special" benefit package for older employees/independent contractors.Perseverance Today Will Pay Off Tomorrow.Despite the fact that today's situation may not look as bright as it will later, keep your head up, keep your attitude up, continue to make the calls and ask the questions plus don't forget to pray to the Lord, in the process, also.And, remember "Never Give Up." That three-word summary of one of Winston Churchill's most famous speeches says a lot about our attitude."Yes," we can choose to play the blame game of blaming someone else or "the company" or my unique circumstances or our parents or our wife/husband.But, at age 50+, my question to you, should you find yourself in the position of wanting to play this unfortunate game, "when do we actually grow up enough to take adult responsibility?" Hopefully, today is that day.In addition, forgiveness is also the key to being able to move forward in the process of reinventing yourself after age 50.No one really wants to hear a long version of your story, even your spouse/significant other.By now, they have already heard it perhaps 50 times.Today, why not choose to simply give them a break from hearing it re-stated for the 51st time? It's your choice.Just ask yourself. would you really like someone else to tell you this story again, if you had to be on the "hearing" end of this equation? Today is also the day to begin to simply "Get over it." Forgive and go forward.As a Christian, this point if actually a mandate stated as such in the Lord's Prayer.But, for others, in this reader audience, it still makes sense for you, too, because it's common sense in terms of increasing your productivity sooner versus later.The choice is up to you.But, the time to begin to think differently, to act differently and to take steps leading to a different outcome for your life is NOW.