AMERICANS’ GREATEST FINANCIAL FEARS

Financial Emergency

 

Most Americans save in order to have enough money in case something unexpected happens and they need a large sum of cash.  Because of this, they prepare by avoiding investing too much at one time. Kai-Zen is designed to not only make the most of your money, but also protect you with coverage and access to cash in the case of a financial emergency..

 

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Insufficient Savings

Consider this:  If you retire today, could you live off of the money you’ve saved for 22 years?  Could you maintain your current lifestyle? If you fully fund your 401K with 6% matching funds you will have a 70% lifestyle drop in retirement if you earn over $250,000 unless you supplement your planning.

 

Contrary to popular belief, spending does not drop at retirement, but is merely spent on different things like medical expenses.  For example, research indicates that 85% of all medical expenses occur in retirement. It is very possible for people, even high earners, to outlive savings and become reliant upon a family member for financial care. The Kai-Zen strategy can add substantially more funds to your retirement plans while helping protect you in the event of future medical expenses.

 

Medical Expenses

1 in 3 Americans between ages 35-65 will become disabled for 90+ days

1 in 7 Americans 65+ years in age will become disabled for 5+ years

A 65-year-old couple retiring in 2012 is estimated to need $240,000 to cover medical expenses throughout retirement

(American Council of Life Insurance, Fidelity Investments)

The reality shown above is that it is quite common to lose of an individual’s ability to earn and a have a large loss in retirement savings. If you are dependent upon your income, this would be a devastating event.  Even worse, most benefits don’t cover or only partially cover these events.  In addition to potential disability, long term care is essential for 41% of Americans BEFORE age 65 with the average cost at $75,000 a year (US Department of Health and Human Services).  These are both very real issues that call for action before it is too late.

Death of Primary Breadwinner

Approximately 70% of U.S. households would have trouble meeting everyday living expenses within just a few months if the primary wage earner were to pass away today.  This actually occurs to 20% of households, so it is crucial to have a backup plan to pay expenses should this occur. Kai-Zen’s permanent life insurance addresses this need.\