Mortgage insurance from your bank?

When you pay for an mortgage insurance policy from your bank, you expect it to pay off if you pass away, right? What could really happen will probably shock your socks off!

socks blown off

An excellent article on Linkedin by Sean Patterson, Marketing Director – World Financial Group, shares what your banker won’t tell you about mortgage insurance. You can read it here.

Never thought about it like that, huh?

When you get a mortgage insurance policy, dosen’t it make sense to get it from a licensed insurance professional? Of course it does!

[Read more…]

September Newsletter

Financial Facts

September 2015


Is This a Gamble You Want to Take?

Risk of Disability for 3 Months or Longer versus Risk of Death Average Duration of a Disability Lasting Over 3 Months Prior to Age 65
1.63 to 1
1.27 to 1
1.71 to 1
Age 35 Age 45 Age 55
2.2 years
2.9 years
3.4 years
2.9 years
Age 25 Age 35 Age 45 Age 55

Source: Commissioners Disability Table A

According to a study published in Health Matrix: Journal of Law-Medicine, “half of all foreclosures have medical causes.” In addition, based on this study of homeowners going through foreclosures, “half of all respondents (49%) indicated that their foreclosure was caused in part by a medical problem, including illness or injuries (32%), unmanageable medical bills (23%), lost work due to a medical problem (27%), or caring for sick family members (14%).”

Source: Get Sick, Get Out: The Medical Causes of Home Mortgage Foreclosure, Health Matrix: Journal of Law-Medicine, Vol. 18, No. 65, 2008 (last revised June 12, 2009)

What steps have you taken to protect your income…your earning power… in the event of a disability?

from the Masters…


by Chris Widener

Here are some thoughts for finding and experiencing joy in your life. If there was one thing I could wish upon my family, friends and the readers, it would be joy in everything they do!

Know your purpose. Nothing will bring you joy more than knowing what it is that you are about on this earth. Not knowing brings sadness, wondering, fear and lack of fulfillment. Above all, find out what your unique purpose is here on this earth – then fulfill it! As you do, you will experience joy!

Live purposefully. This is a follow up to number one. It is one thing to know your purpose, but then you need to live according to that purpose. This is a matter of priorities. Let your actions and schedule reflect your purpose. Don’t react to circumstances and let them cause you to live without your purpose fully in sight. Living without your purpose will cause frustration. Living purposefully will bring you deep satisfaction and joy!

Stretch yourself. Don’t settle into the status quo. That will leave you unfulfilled. Always look to stretch yourself. Whatever you are doing, stretch yourself to do more! Stretching yourself will break the limits you have set for yourself and will cause you to find joy in your expanded horizons!

Give more than you take. It brings happiness to accumulate. It brings joy to give away. Sure, getting the car you worked hard for will bring you a sense of satisfaction and even happiness. But it won’t bring you joy. Giving something away to the less fortunate will bring you deep, abiding joy.

Surprise yourself, and others too. The words here are spontaneity and surprise! Every once in a while, do the unexpected. It will cause everybody to sit back and say, “Wow, where did that come from?” It will put a little joy in your life, and theirs.

Indulge yourself sometimes. Too much indulgence and you are caught in the happiness trap. Looking for the next purchase, celebration, etc. to bring you a little “happiness high.” But if you will allow yourself an infrequent indulgence as a reward for a job well done and a life well lived, you will appreciate the indulgence and experience the joy of it.

Laugh a little – no, a lot! Most people are just too serious. We need to laugh a little – no, a lot! Learn to laugh daily, even if you have to learn to laugh in bad situations. This life is to be enjoyed! The next time you go to the movie rental store, get a comedy and let loose! Let yourself laugh!

Joy can be yours! Look for it, pursue it and enjoy it!

Brought to you by:

Billy Snyder
B Snyder Insurance
343 Deer Park Lane
Lafayette, TN 37083-6206

About our firm:

B Snyder Insurance offers a full array of insurance and retirement planning using life insurance and annuities. Our goal is to understand the unique needs of each client and to work closely with our clients in developing and managing a plan to help them accomplish their financial goals. We develop plans for business owners, doctors and other professionals, homeowners and families to insure their future today and reduce their taxes for tomorrow.

from the Masters…

On Learning

“No one limits your growth but you. If you want to earn more, learn more.”

-– Tom Hopkins

“With life-long education, learning becomes a renewable resource.”

-– Nido Qubein

“Learning is the beginning of wealth. Learning is the beginning of spirituality. Searching and learning is where the miracle process all begins.”

-– Jim Rohn

“Intellectual capital is the most valuable of all factors of production.”

-– Brian Tracy

“It’s what you learn after you know it all that counts.”

-– John Wooden

On Overcoming the Negative

“I keep the telephone of my mind open to peace, harmony, health, love and abundance. Then whenever doubts, anxiety, or fear try to call me, they keep getting a busy signal – and soon they’ll forget my number.”

— Edith Armstrong

“De-program yourself. The news is not the news. It is the bad news. It is deliberately shocking. The more you accept it as the news, the more you believe that ‘that’s the way it is,’ and the more fearful and cynical you will become.”

— Steve Chandler

“Issue a blanket pardon. Forgive everyone who has ever hurt you in any way. Forgiveness is a perfectly selfish act. It sets you free from the past.”

-– Brian Tracy

The purpose of this newsletter is to provide information of general interest to our clients, potential clients and other professionals. The information provided is general in nature and should not be considered complete information on any product or concept described.

For more complete information, please contact my office at the phone number above.

Published by The Virtual Assistant; © 2012 VSA, LP

We don’t want to add to your e-mail clutter! If you do not enjoy my newsletter, just reply to this e-mail and ask to be removed or call my office.


Mortgage Protection with Living Benefits

Did you know that the number one reason for bankruptcies and foreclosures is unexpected medical bills? Do you need a mortgage protection policy? YES!

Especially if your mortgage protection policy has living benefits.

mortgage protecton policy

Knowing you have a mortgage protection policy is like having a parachute protect you from a hard landing.

A mortgage protection policy will help provide money for the bills and other unexpected medical expenses if you were to have a critical illness like cancer, heart attack or stroke.

Critical illness, heart attack, living benefits

Critical illness like heart attacks may keep you out of work for up to a year.

It could also help if you have a long-term illness that would keep from being able to earn a paycheck,

chronic illness, living benefits, mortgage protection

A chronic illness prevents you from living a normal life.

or a terminal illness that you aren’t expected to live through.

Terminal illness, living benefits, mortgage protection policiy

The result of a terminal illness is certain, but when it happens, is not.

What is a mortgage protection policy? It is a term life insurance policy that you don’t have to die to use. As you know, most life insurance policies simply pay out the benefit after you have passed. There are some that will have a rider or clause that will pay most of the benefit if a doctor certifies that you have less that one year to live.

But, what if you get really sick and don’t die? What if you’re out of work for a couple of months to a year or more? Who’s going to pay the bills if you can’t earn a paycheck?

Could you afford to pay the mortgage, car payments, credit cards, utilities and put food on the table if you lost your income? Most couldn’t. An overwhelming majority (90%) of our nation’s middle-income Americans say they are not financially prepared for a critical illness diagnosis, according to a new study released by Washington National Institute for Wellness Solutions (IWS). Additional info here.

Even with two paychecks in the home, most families need both just to keep a roof over their heads and if you lost your income while you were recovering, how would you survive?
With a mortgage protection policy that has living benefits, you could get part of the death benefit ahead of time. So, how does it work? Let me explain:

[Read more…]

“Do without”. Three myths about life insurance that will make you tell your kids this.

begging, spare change, please help so I won't do without

Can you please spare some change so I don’t have to do without?


Do without. That’s what happens to the kids when you don’t have any life insurance.

Did you read that? If not, click on the link and read it. You need to hear it in his words.

Have you ever been in a convenience store and seen a jug or jar on the counter with someones picture on it with the words “Please help the family pay for the burial expenses”? I have, and let me tell you, it absolutely kills me when the family tells me they didn’t think they needed it or couldn’t afford it, and in most cases, they would be wrong on both counts.

A kid shouldn’t have to do without because his parents didn’t own life insurance, but it happens every day. For the price of a cold drink or a pack of cigarettes, your family could have at least enough to pay for the funeral.

Imagine the humility a child would feel when they went into that store and saw his mom or dad on the picture of that jar! One of the most humiliating things a kid could ever go through would be to know that his family had to beg just to pay for the burial.

As a parent, I think this should be a top priority. You have a personal responsibility to your children and while it may not be as glamorous as the latest smart phone, big t.v. or new car, a life insurance policy will have a much more important, longer lasting benefit. All those other things are nice, but for as little as the price of one soda a day, your kids could have some financial security and you would have the peace of mind knowing that if the unexpected were to happen today, at least they would still have their dignity.

So what are the 3 myths about life insurance? Here they are: [Read more…]

These are the 5 most expensive medical conditions for life insurance shoppers | LifeHealthPro

Avoid these health conditions

Alert! These medical conditions can cause higher life insurance rates.

Which health conditions raise life insurance rates?

These are the 5 most expensive medical conditions for life insurance shoppers | LifeHealthPro.

Can you lower your life insurance costs? Absolutely!

Exercising, eating a healthy, well balanced diet, no tobacco, moderate drinking, etc… All these activities and choices will benefit you in multiple ways. Besides being healthier, you will have more money and live a longer more productive life.

What’s the best retirement advice you ever got?

“What’s the best retirement advice you ever got?” A good question from  Rodney Brooks, USA TODAY.

Here is an excerpt:

Roger Crandall, MassMutual CEO:

The best retirement advice I can think of came from none other than Albert Einstein. He called compound interest the most powerful force in the universe. Starting early and reinvesting what you earn on your investments is the single best thing you can do. Sit down and look at what happens when you compound interest for 30, 40 or 50 years. If people start young, no matter how small, and keep it up until they retire, the rest will take care of itself.

via What’s the best retirement advice you ever got?.


Advice on how slow and steady always wins the race


Personally, my best advice came from a childrens story book, The Tortoise and the Hare , and while I may not have put this together with money as a kid, the older I got, the more it made sense.

My parents were pretty frugal, having 5 kids to feed, clothe, and educate, and though we didn’t have the name brand items, we always had food on the table and decent clothes on our back. As I think back to those times, we never had a new car, but we had braces on our teeth; no airplane trips, but lot’s of camping; no vacations in the islands, but we all had the opportunity to go to college. So they had a good idea of what was important and invested their money in those things.

In the later years, mom and dad were able to travel abroad and everything was paid for, so I think they did it right.

So, I ask you the same question: what’s the best retirement advice you ever got?

Please share with us your experiences and advice you would give, knowing what you know now.

If you enjoy this, or know someone else who would, please like, tweet, favorite, share or just send them a link with this article.

Also, if you haven’t yet signed up for my newsletter, please do so now and I will send you a financial workbook that many people have used and gotten a lot of value from. Just click on the button to the right and I will get that right out to you.


So, you think your 401(k)or IRA is the best way to save for retirement? Why the President’s new budget proposal should scare you!

The governments budget is out to get your money. Three reasons why you should look to tax free alternatives for building your retirement account. (and the IRS can’t do anything about it)


There goes the budget! Taxes are going to take all of our retirement!

If taxes keep going up like this, how can we budget for retirement?

According to the US Debt clock, the U.S.A. is about $ 18.2 TRILLION dollars in debt and going up faster than I can write this, and your personal debt as a tax payer is only $154,090. Can your budget afford to pay this now?

So, who is really out of money? The government is and they have to pay it back eventually. At this rate, the interest payment alone is about $238 BILLION dollars. Where is this going to come from?! I’ll tell you, from your retirement accounts. The president’s budget plan is to increase revenue by taxing your hard earned dollars to pay off this ridiculous amount of debt.

So let’s look at three ways you can save for retirement and not have to give some (or most) of it to the IRS.  Stay with me to the end and I will give you a bonus.

Jeffery Levine wrote an article about the president’s budget plans and how they could impact your retirement savings. I am going to highlight just a few of his points and give the reason for my alternatives.

One of the problems with the current plans is that you have limits on them:

  • limits of what age you can be to contribute or withdraw
  • limits of how much income you can earn
  • limits of how much you can contribute

Wouldn’t you like to be able to decide how much to contribute? and when? Why limit the amount you can save for YOUR retirement? Why be FORCED to take out money that you don’t want  just because you reached a certain age? Or get penalized if you take it out too soon?

With a Indexed Universal Life insurance policy, you can manage YOUR retirement the way YOU want too. You want to start building your retirement now? Great! Add a little or add a lot? Yes! you can because the premiums are flexible. Need some cash? Yes! Take it out with no penalties. (some restrictions may apply)

A second challenge with the new budget proposal is about your beneficiaries. The budget is wanting to limit the time frame that YOUR beneficiaries can take money out of your account when you pass away. Wouldn’t it be nice if your beneficiary could keep the money in the policy until they needed it or passed away themselves? Yes! With a certain type of insurance policy, both you and your spouse could be covered and both would have access to YOUR retirement account.

All of this sounds good, but what does this have to do with taxes? Great question.

The third reason is probably the most important:

A life insurance policy is paid with after tax income (like a Roth), it grows tax deferred and when you get ready to take money out, it comes out tax free. So why not just put all of your money in a Roth? Remember the limits? What about the risk of loss? Do you have the time to make up the loss? What if you die early?

An insurance policy has guaranteed growth and also the option to gain more. If you choose an Indexed Universal Life policy, you could make as much as 14%, although the average is between 5% and 8% and when the stock market ‘corrects itself’ (read CRASHES), you could only get 0%. This is of course, better than a negative 40%, wouldn’t you say?

Now, remember I said if you hang in there with me, there would be a bonus? Here it is:

A life insurance policy has an immediate death benefit that no other IRA or 401(k) has,  So let’s say you bought a $1,000,000 life insurance policy, made your first payment and then passed away unexpectedly. Your beneficiaries would receive the million dollar benefit tax free. Try that with an IRA or 401(k). With either of those, the most your beneficiaries would get would be the grand total of your contributions and may have to pay tax on it.

That’s what I call peace of mind.

Protect your family, grow YOUR retirement nest egg tax deferred, and when you get ready to retire, you can have an supplemental income that you don’t have to pay taxes on.

Of course, there are specifics to each life insurance policy and you should speak with a licensed agent about how this would benefit you. Also, I am not a tax professional and you should speak to yours about any and all tax advice or questions you have.


If you want to find out how a life insurance policy may benefit you and help you build your retirement income, please contact me for a no cost, no obligation discussion to see if this would be a good fit for you.


Special thanks to Jeffery Levine for the article on MarketWatch and continuing to educate us on the tax situation.

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