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A B C D E F G H I J K L M N O P Q R S T U V W X Y Z video section
Recruiting Black Insurance Professionals
African-Americans more likely
to place value on life insurance
National African American
Insurance Association Introduction

    Life Insurance Isn’t Always About Death;
    It’s Also A Retirement Tool

    Many Americans view life insurance policies as a key part of their financial planning. But they tend to think in terms of how the insurance will benefit their survivors after they are in the grave – not how it might benefit themselves while they are very much alive.

    If that’s the way they see it, though, they may be missing out on an additional way to help pay for retirement – something especially worth knowing if other investments go awry or a pension is non-existent.

    “I think a lot of people are surprised to learn that their life insurance policy can help them handle expenses during retirement,” says Gary Marriage Jr., CEO of Nature Coast Financial Advisors ( “They consider life insurance a death benefit. But it can be a lot more than that.”

    How so?

    Essentially like this, Marriage says: Over the years, a person pays premiums into a permanent life insurance policy with the intent to provide a death benefit as well as cash-value accumulation for as long as the policy remains in force.

    If they reach retirement, and aren’t as concerned with the death benefit, they can withdraw from the insurance policy without paying taxes. Usually, you can withdraw up to the amount that you paid in premiums over the years, Marriage says.

    Some other advantages include:

  • Contribution limits don’t apply. The government puts a limit on how much money you’re allowed to contribute each year to an IRA. So your IRA is going to grow, but not to the degree that you would like. If you structure a life insurance policy so that it’s part of your retirement plan you don’t face those same dollar-amount limits, Marriage says.

  • The cash value of the policy grows each year with interest, tax deferred. Investing in or purchasing a tax-deferred vehicle means your money can compound interest for years, free from income taxes, potentially allowing it to grow at a faster rate. And if you’re worried about the stability of the insurance company, the fact is insurance companies are some of the strongest financial institutions in the world.

  • When you leave your children the money you’ve accumulated in an IRA, they have to pay taxes on it. But the beneficiaries of a life insurance policy don’t have to pay taxes.

  • The federal government will penalize you if you withdraw money from an IRA or a 401(k) before you turn 59½. But if you need some of that life insurance money at an earlier age, you can withdraw without paying a penalty. That’s a big advantage for those who suddenly find themselves in need of cash, but don’t want even more of their retirement savings to disappear into Uncle Sam’s coffers, Marriage says.

    “It’s really important for people to take advantage of all the options they can when it comes to retirement,” Marriage says. “I think many people underestimate how much money they’ll need, often because they don’t take into account all the factors like taxes and inflation. Maybe you’d never have to tap into that life insurance policy and it can all go to your beneficiaries. But it would be nice to have it there in case the need arises.”

    About Gary Marriage Jr.
    Gary Marriage Jr. is the founder and CEO of Nature Coast Financial Advisors (, which educates retirees on how to protect their assets, increase their income and reduce their taxes. Marriage is a national speaker, delivering solutions for pre-retirees, business owners and seniors on the areas affecting their retirement and estates. He is an approved member of the National Ethics Bureau, and has been featured in “America’s Top Hometown Financial Advisors 2011” and was selected to contribute to a book with Steve Forbes titled “SuccessOnomics: Power Principles” and became a “Best-Selling Author” as a result. Marriage is also the founder of Operation Veteran Aid, an advocate for war-time veterans and their families.


    The articles on this website are provided for information purposes only. does not accept any responsibility or liability for the use or misuse of the article content on this site or reliance by any person on the site's contents. Use at your own risk.

    No Implied Endorsement: does not endorse or recommend any article on this site or any product, service or information found within said articles. The views and opinions of the authors who have submitted articles to belong to them alone and do not necessarily reflect the views of

    Yahoo Breach and Cyber Insurance, What Companies Should Know Before Investing

    As you may know, the recent breach at Yahoo combined with breaches at other large companies is causing more companies than ever to look at cyber insurance policies.

    Katherine Dawson Varholak is a partner at the national law firm Sherman & Howard and specializes in cybersecurity, helping companies navigate the minefield of cyber insurance policies because coverage is increasingly complicated since the territory is so new. Prior to joining Sherman & Howard, Varholak spent several years at the U.S. Department of Justice, where she represented federal government agencies in federal appeals across the country. As companies begin to look at these policies, she says it's not always a "one size" fits all and one company may need multiple policies for protection.

    “With more and more high profile cyber breaches in the news, companies are increasingly looking to stand alone cyber policies to insure their data security and privacy risks. It is important for companies to understand that Cyber insurance is not standardized and is largely untested in the courts", Varholak says.

    “Cyber insurance is important because:

  • Most standard liability insurance policies have endorsements excluding cyber risk

  • Even in liability policies that do not exclude cyber risk, there will not be coverage for first party damages – such as business interruption costs – that always accompany cyber breaches

  • Cyber breaches can cause catastrophic loss - companies need to purchase policy limits that are adequate to cover losses of that magnitude,” Varholak says.

  • “Companies purchasing cyber policies should carefully review the coverage being afforded against the risks they are facing to be sure the coverage they purchase is adequate. In some cases, more than one policy may be necessary to cover varying types of exposure,” Varholak says.


    The articles on this website are provided for information purposes only. does not accept any responsibility or liability for the use or misuse of the article content on this site or reliance by any person on the site's contents. Use at your own risk.

    No Implied Endorsement: does not endorse or recommend any article on this site or any product, service or information found within said articles. The views and opinions of the authors who have submitted articles to belong to them alone and do not necessarily reflect the views of

    Every Income Group Experienced Significant and Similar Drops in Uninsured Rates Under the Affordable Care Act

    - ACA led to widespread coverage gains across income, age, geography, and race; expanding Medicaid significantly strengthens gains -

    Today, the U.S. Department of Health and Human Services released new research analyzing gains in health insurance coverage from 2010-2015 across key demographic categories of Americans: income, age, geography, race and ethnicity. The report finds that ACA coverage gains have been widely shared across groups. For example, the uninsured rate fell by around 40 percent for Americans in all income groups for 2010 through 2015, including individuals with incomes above 400 percent of the federal poverty level (FPL).

    “Regardless of your income, age, geography, or race, everyone is gaining access to coverage or better coverage under the Affordable Care Act,” said Secretary Sylvia M. Burwell. “Going into the fourth Open Enrollment, Americans have experienced historic coverage gains. People can’t be discriminated against because of preexisting conditions, young adults can stay on a parent’s plan until age 26, and working families without employer coverage can get help paying for health insurance. People who already had health insurance have benefited from new protections like free preventive services, as well as from slower growth in employer premiums.”

    The new report shows how different provisions of the ACA have worked in concert to reduce uninsured rates. The near-equal percent drops in uninsured rates across groups indicate that the ACA is reducing the uninsured rate most in absolute terms among groups that had the highest uninsured rates before the law. For example, individuals age 26-34 and 35-54 saw similar percentage drops in uninsured rates, but since the younger group had higher pre-ACA uninsured rates, a larger fraction of them have gained coverage since its passage. Today’s report looks primarily at data through 2015. In the first quarter of 2016, the national uninsured rate dropped again from 9.1 percent to 8.6 percent.

    One of the few groups seeing a notably smaller decline in uninsured rates was Americans living in poverty in states that chose not to expand Medicaid. This group falls into the coverage gap, unable to access Medicaid coverage or Marketplace financial assistance. If the 19 remaining states adopted the ACA’s expansion of Medicaid, an additional 4.1 million residents would gain coverage, according to Urban Institute estimates.


    Gains in health coverage across the income distribution indicate the success of a range of different ACA provisions. While Medicaid expansion has been especially crucial for low-income Americans, moderate- and middle-income families have benefited from consumer protections that prevent insurers from discriminating or denying coverage based on pre-existing conditions, from provisions allowing young adults to stay on their parents’ plans, and from financial assistance that helps families without access to affordable coverage (e.g. employer sponsored insurance). Overall, all groups have seen percentage reductions in their uninsured rates of around 40 percent. Less than 100% FPL: 39% reduction
    100-125% FPL: 48% reduction
    125-250% FPL: 41% reduction
    250-400% FPL: 37% reduction
    400% FPL and higher: 42% reduction


    Since 2010, non-elderly adults of all ages have seen substantial decreases in the uninsured rate. But the most dramatic decline has been among 18-25 year olds, who experienced a 52% reduction in the uninsured rate thanks in large part to the ACA provision that allows young adults to remain on their parents’ plan until age 26.

    18-25 year olds: 52% reduction
    26-34 year olds: 36% reduction
    35-54 year olds: 39% reduction
    55-64 year olds: 40% reduction


    The uninsured rate has decreased significantly and similarly among in both urban and rural areas since 2010. The similar overall coverage gains for rural individuals are particularly striking in light of the fact that uninsured rural individuals are disproportionately concentrated in states that have not expanded Medicaid. If all states had expanded Medicaid, rural individuals would likely have seen a larger decline in the uninsured rate.

    Metropolitan (urban) areas: 42% reduction
    Non-metropolitan (rural) areas: 39% reduction

    Race and Ethnicity

    Coverage gains have also been broadly shared across racial and ethnic groups of non-elderly adults.
    Asian (non-Hispanic): 59% reduction
    Black (non-Hispanic): 47% reduction
    White (non-Hispanic): 46% reduction
    Hispanic: 35% reduction

    Medicaid expansion

    Medicaid expansion states experienced greater gains in coverage than non-expansion states. Between 2010 and 2015, the overall uninsured rate decreased nearly 50% in expansion states, while declining by nearly 32% in states that chose not to expand.

    Consistent with this, improvements in health care coverage among racial and ethnic minority groups in particular have been more dramatic in states that have expanded Medicaid. For example, the uninsured rate among non-elderly Hispanics in expansion states dropped by nearly 43 percent, compared to a 26 percent in non-expansion states.

    To read today’s issue brief, visit:

    To view charts from today’s brief, visit:


    The articles on this website are provided for information purposes only. does not accept any responsibility or liability for the use or misuse of the article content on this site or reliance by any person on the site's contents. Use at your own risk.

    No Implied Endorsement: does not endorse or recommend any article on this site or any product, service or information found within said articles. The views and opinions of the authors who have submitted articles to belong to them alone and do not necessarily reflect the views of

    (BPRW) Nationwide Insurance CIAA Donations Top Nearly $900,000

    - Official Insurance Provider Delivers Continued Value to CIAA -

    (BLACK PR WIRE) – CHARLOTTE, N.C.--(BUSINESS WIRE)-- Nationwide Insurance, the official insurance provider of the Central Intercollegiate Athletic Association (CIAA), announced today a $120,000 donation to the CIAA college scholarship fund. Since 2008, Nationwide has contributed almost $900,000 to the CIAA scholarship fund that serves to benefit students at CIAA member schools.

    “Nationwide shares the CIAA’s vision to empower and inspire students to reach their fullest potential. Our donation to the CIAA scholarship fund validates just how committed Nationwide is to making a real difference in student’s lives,” said Martha Frye, senior regional vice president. “This partnership is what being On Your Side® is all about.”

    For more than eight years, Nationwide has been a strong supporter of education, hiring and scholarship for students at Historically Black Colleges and Universities (HBCUs) within the CIAA. Nationwide demonstrates its commitment to the CIAA through a year-round presence on the campuses of CIAA member schools as well as sponsorship of the CIAA basketball tournament, CIAA championship football game and all 16 CIAA conference championships.

    In addition to financial contributions, Nationwide hosts onsite career fairs, provides career counseling, offers leadership development opportunities and creates pathways to employment through a corporate internship program. The CIAA/Nationwide internship program brings students to work at various Nationwide regional offices and at its home office in Columbus, Ohio. The program helps students gain real work experience in preparation of their post-graduate career. “We are committed to supporting communities where our associates and members live and work. As part of our efforts, we’re on-site at this week’s events actively recruiting talent from the CIAA member schools,” said Frye. “After all, Nationwide believes in what the CIAA is all about – preparing students for tomorrow and helping them realize their dreams.”

    The 69th annual CIAA Men's and Women's Basketball Tournament takes place Feb. 24 – March 1, 2014 in Charlotte, N.C. The five-day tournament returns for its ninth year in the Queen City with great basketball as well as countless events and activities. More than 150,000 people are expected to attend and participate in any number of the wide-ranging events that include spirited shows, concerts, networking opportunities with business professionals, alumni reunions and a career expo as well as a post tournament celebration. Fans and teams come to the annual CIAA basketball championships for more than just the games, and Nationwide Insurance is proud to be there to enhance their experience.

    For more information about how to purchase tickets and a complete list of official events, fans can visit and click on the schedule of events tab.

    About Nationwide
    Nationwide Mutual Insurance Company, a Fortune 100 company based in Columbus, Ohio, is one of the largest and strongest diversified insurance and financial services organizations in the U.S. and is rated A+ by both A.M. Best and Standard & Poor’s. The company provides a full range of insurance and financial services, including auto insurance, homeowners, pet, motorcycle, boat, farm, commercial insurance, life insurance, annuities, mutual funds, public and private sector retirement plans, banking, mortgages, and specialty health services. For more information, visit

    Nationwide, On Your Side, Join the Nation and the Nationwide frame mark are service marks of Nationwide Mutual Insurance Company.

    Source: Nationwide


    The articles on this website are provided for information purposes only. does not accept any responsibility or liability for the use or misuse of the article content on this site or reliance by any person on the site's contents. Use at your own risk.

    No Implied Endorsement: does not endorse or recommend any article on this site or any product, service or information found within said articles. The views and opinions of the authors who have submitted articles to belong to them alone and do not necessarily reflect the views of


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