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View Sample Pages : New Braunfels Herald Zeitung, August 30, 1987

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New Braunfels Herald Zeitung (Newspaper) - August 30, 1987, New Braunfels, Texas Commerce & Industry Page6A    Herald-Ze/funp,    New    Braunfels,    Texas Financial Focus Buy insurance with purpose in mind By E.D. JONES & CO. 1000 N. Walnut, Suite F Editor's note: This is the first of two articles on selec ting life insurance. Most life insurance is sold, not bought. That s not intended as a play on words. If it weren't for life in surance sales people, most of us would have little or no income protection. After all, there are too many things to buy while we’re living to worry about protection when we’re gone. So. for most, someone has to sell us on the need to protect our dependents in the event of our premature death Like any financial program, learn the facts before you invest. To help with this, the National Association of insurance Commissioners, an association of state in surance regulatory officials, publishes the “Life Insurance Buyer’s Guide ’’ The guide does not endorse or recommend any company but rather discusses life in surance is impartial, generic terms and is designed to help you save money when shopping for life insurance Before buying, or being sold, any life insurance, you should decide how much you want. how much you can afford, and what kind of policy you w ant Next, find out what various companies charge for that kind of policy. All life insurance companies do not offer the same policies nor do they charge alike for similar pro tection It's up to you to be an informed shopper. The primary purpose ot all life insurance is to provide cash and income for your dependents after you're gone, but there s no magic formula to tell you how muchyou need Life insurance should provide cash for final expenses, taxes and other immediate debt In addition, it should offer added income for a family’s living expenses, education and future needs Its purpose is to fill the gap between what your family would have if you died now and what they would need NAIC cautions in the guide that to get the proper pro tection for the money available, it’s necessary to select the right insurance for you All life insurance policies promise to pay your beneficiary a set amount at your death, but that amount varies depending on the type of policy you buy There are three basic types of life insurance term Insurance, whole life insurance and endowment in surance — and each is desigr.ed for a different purpose Every life insurance policy contains one of these or a combination of these or a combination of the three Term insurance is pure death protection for a specified “term’’ or period It pays only if you die dur mg that time Since it s only protection, just as your homeowner s or auto insurance It offers the largest death benefit for your dollar When considering term insurance. investigate the “renewable ' feature which allows you to renew the policy for additional terms usually w ithout regard to any health changes Premiums on term insurance increase at older ages so if you plan on keeping the insurance for many years learn the overall cost of straight term or consider one Appraisal Notes Not all companies are the same, and often one may far surpass its competitors. with a “convertible’’ feature This allows you to trade the term insurance for a whole life or endow ment policy at some future date Of course, if the conversion is made, the premium increases Whole life insurance, unlike term Insurance gives protection for as long as you live “Ordinary life’’ generally maintains the same premium even as you grow older. The initial premiums are much higher than you would pay for the same “term" protection, however, if you plan to keep your insurance many years, the overall cost could be less There are variations of whole life insurance which allow you to reduce your premiums to a shorter period of time On these, you generally pay premiums for 20 years or until you reach age 65. Again the premiums are larger because you pay them for a shorter period Another feature of whole life is the cash value or savings account Generally after the Hist year or so. when the original cost of buying the insurance has been absorbed from each premium you pay. the remainder goes into “cash value This cash value can accumulate very slowly, earning a very low rate of interest which will be determined by the policy and company you selected So. if you choose whole life to enjoy the cash value in vestment feature it s important to review the cash value experience of the company before y I buy Cash value tables are part of yoni policy 'I hese tables show exactly how much cash value you've ae cumulated at the end of any year Not all companies are the same and often one may far surpass its com petitors The cash value also offers such tnmefits as collateral for a loan either from an outside source or directly from your policy If you borrow your own cash value through a policy loan, the interest on the loan is specified in your policy If you die w hile the loan is outstanding the money ow**d is deducted from the death benefits paid If you decide to quit paying premiums while the loan is outstanding the loan is deducted from the cash value The third type of insurance endowment insurance offers the least amount of death protection for your dollar It s designed to pay a regular income to the policy holder up to a certain age Should the insured die before then the death Benefit is paid to the beneficial v The premiums are higher than those of either term or whole life insurance There are numerous variations of these three tv pc insurance depending on the company you choose surance companies have become ve*v competitive a* the investing public sophisticated Once you've decided how much and surance you nei*d it s to your t>enelit ic get alt the facts before you tm est Studio 7 owner and director EU: (Photo by Deryt Clark). abeth Holland foregroi n rf I pi sa p' :■> <; Studio 7 offers variety of aerobic classes Studio 7 Aerobics open at 1192 t s 81 \\ since .January will begin its fall schedule on Tuesday “We will offer seven programs seven days a .seek said ownei and director Fli/.abeth Holland « asses range from Rocking Out (or tho-' between Id and 18 to Mom \erbo is for pre and post natal a* ■ ' en thusiasts Holland moved to New Brauna from Houston in 1985 and has tough' aerobics for six years Holland is »rn tilled and is a member of the Inlet t a tional Dance Exercise \ss«»ciat a Aerobu s and Fitness Associator > America and Fitness Association Sn strutters Network Excelle* < Austin Holland said she attends severs 'rent’' innovativ * becomes vt hat kind shop arou: s ot In and lore f in workshop the lates clares e ching cross ti workouts an I hands ear to keep I ig technique feature PNK st rung rubber b uutms Witt) he proper with Her mm im wmm anwm wmm wmm nm wmm mm mmm    =**■*<    mm    i    .    inurn. Darryl G OKKFFPING AND TAX C FIN ANCI AL STAT! W .1)1 CASH BASIS Up to 125 INVOICES $50.00 1000 n Walnut. Suite 202 629 1922 l^i uuu a. ndmui, juiib tut    -    i    | »xt* We em: m\ Homeowner has many responsibilities (Question I purchased a home in Comal County in August 1988. and just received a delinquent tax state ment from the school district I thought the title company was supposed to notify the appraisal district of any change of ow nership If so why did I not receive my tax statements on time. before penalty and interest were due * All the tax statements should have gone to the mortgage company Who is responsible for notifying them*’ I was also told that I should receive a homestead exemption, but it doesn t Business Briefs Christian Academy ribbon cutting New Braunfels Christian Academy is capping off many months of hard work with a ribbon cutting ceremony at the new school at IO a rn Monday at 995 Mission Hills Drive just off Kerlick Lane Greater New Braunfels Area Chamber of Commerce tiger team Blue Coats are invited MHMR opening mental health addition The Mental Health Mental Ketar dation Center at 511 North St will host an open house and ribbon cutting ceremonies Sept 9 for its addition of a mental health section The ribbon cutting ii at 5 p rn with the open house from 4 30 to 6 30 p rn Chamber of Commerce Blue Coat bulldog team is invited appear to be reflected on this tax statement Answer: First of ail it is the pro perty owner s responsibility to make sure that the appraisal district has the correct information The title company does not notify either tile appraisal district or the mortgage company of ownership changes Once the transaction has been corn pleted the title company does record the deed at the county clerk s office and the appraisal district picks up the transfer from the county clerk s records The process can take from xe\era! weeks to several months, however so the new owners should notify the appraisal district of the change as quickly as possible and make sure that the appraisal district has the correct mailing address This is especially true if tax bills are soonto be due The appraisal district is required to complete all deed transfers at least through Jan I of each tax year From a practical standpoint transers are worked until the roll is certified in July Since you purchas ed your home in September it would have been necessary for you to notify the appraisal district of the tra >:♦ in order for that year s statement •• he sent to you or your mortgage corn panv The title company also does not notify the appraisal district of the specific lender involved This in formation comes from the mortgage company usually in May or August Since your purchase was in September notification would haw* to be supplied by you for the current tax year It appears from your letter that you would probably not quality for a Residential Homestead Exemption but this is NUT automatic You must apply for the exemption with the ap praisal district after Jan of t year following your putt hast I* * are other exemptions available ■ property owners so you should VI with tile appraisal district stat! I this and any other questions > might have Remember to check (tie va! assigned to your property and lendet your opinion of value Ren Hon forms are available at the , praisal district office and muv submitted from Jan :    throu Mart ti 31 each year In summary it is important remember to 1 Notify the appraisal district I mediately of ownership correl t , dress and mortgage company 2 Apply for exemptions or tai year billow mg purchase 3 ( heck value assigned to vc property 4 File rendition and opinion value between Jan I and March 31 year follow mg purchase Knibbe Financial ..Where* I here* i* never a Bad I itne to Make a (rood Im os! ment. Mohall f Jon#* Vice President •Stocks • Bonds •Premier I.ow Load Mutual Funds •Pension Plan Specialist •Individual Investment Accounts. Managed by a prestigious money man agement linn Banked in the ton 1(,n Founded in Darrell Sollberger investment Broker MIX Knibbe Financial Group. Inc 755 I <>o|) 337 Suit.- I) New Braunfels, Tx.781 30 (512) 625-5208 Edward D. Jones & Co.’ Members New York Stock Exchange, inc Member Sec unties investor footer non Corporation STAN A. CUNNINGHAM Ltd Partner Ladies Only Investment Seminar Wed. Sept. 2    3:30 p.m. Herb Schneider Room RSVP    1000 N. Walnut SuheF But.: (512) 620-0055 New Braunfels. TX 781 JO is there for you with Scrapbook frances bridges eyery Thursday in the Herald Ztitung Radio /hack A c INDY < Telephone! The Most Affordable Portable Available Any when I Our New CT JOO is a Price and Technology Breakthrough! Weighs Only 28 Ounces With Batteries Instead Our light phone ev easily tit ■alls fr< ••I -me Buf today for 1499 OC Commentiol brott low at 49 95 Radio Shack obi,juts your persona cellular phone number, programs your phone and handles all the act! vation paperwork! South    bol CeBuiar Ser vrce ;