Life Insurance

Insuring a Non-Working Spouse

Presented by Jim Linn Have you ever considered the cost to replace a stay-at-home spouse?  According to an article on http://www.businessinsider.com/value-of-stay-at-home-moms-2013-5 that value is in excess of $100,000 per year.  Consider the fact that the role of a stay-at-home spouse encompasses cooking, cleaning, errand running, chauffeuring and child care along with a list of additional daunting day to day tasks.  In the absence of this individual, the surviving spouse would be faced with the costs to hire someone to assume these duties.  Life insurance can provide a lump sum benefit that can provide the needed income to cover these costs.  Even though the non-working spouse does not receive a pay check there is still value in what they do and insurance carriers recognize that.  The amount of life insurance that can be placed on a non-working spouse varies by carrier and is anywhere from half of the working spouses amount of coverage up to 100% of the working spouses coverage.  As you meet with families that have a non-working spouse be sure to educate your clients on the value of a non-working spouse.  As always, your life marketing managers are here to assist with any questions you may have.  You can reach them at 1-800-397-9999.
Bulletins

Americo – Compliance Update

LIMRA Website Username Change
As a result of heightened awareness of Cyber-Security, privacy, identity theft, and unauthorized use of Personally Identifiable Information (PII), effective September 30, 2016, LIMRA is changing the Username for current users. Going forward new and current users will be asked for their National Producer Number (NPN) as the Username. For current users, your Password will remain the same. To facilitate the transition, the AML logon page will allow you to look up your NPN if you do not know it. LIMRA will also be placing an FAQ document on the website to assist with any questions you may have. New HIV Consent Form for Arizona and District of Columbia
Effective October 1, 2016, a new HIV Consent form will be required in Arizona (CAZ8285 (08/16)) and the District of Columbia (CDC8285 (10/16)). These forms are available to order and download on Americo.com. Please begin using these forms immediately