1. End of Life *Life Insurance*
Life insurance is insurance that pays out a sum of money either on the death of the insured person or after a set period.

2. Life Insurance. Why do people get Life Insurance?
Mortgage protection- living with someone and if you die they won't become homeless. Income replacement- If one dies, will help pay for expenses and standard living. Final expenses- Pay for funeral. College funding- pay college for children.
Types of Life Insurance.
Term Life
Whole Life
Guarantee Universal Life
Index Universal Life

3. Term Life Insurance
Term life insurance is basic coverage that generally does not build life insurance policy cash value. Consumers typically buy term life insurance to provide death benefit protection for a specific period of time.

4. Whole Life Insurance
Whole life insurance provides a lifetime death benefit for a set premium amount and builds cash value you can use while you’re living.

5. Guarantee Universal Life Insurance
This insurance policies provide a death benefit as well as the opportunity to build policy cash value. This coverage is different from term and whole life insurance because, within policy limits, you can vary the amount and timing of your premiums. Typically, you can also increase or decrease your death benefit (based on your insurability). As long as you maintain sufficient policy value to keep your policy in-force, your policy’s flexibility enables you to pay premiums as your circumstances allow.

6. Index Universal Life Insurance
IUL insurance includes the premium flexibility and adjustable death benefit that typical UL coverage provides. A death benefit index UL product solution is designed to provide affordable death benefit guarantees with the opportunity for cash value growth to provide financial flexibility.

7. Last Will & Testament
*Definition* - A legal document that communicates a person's final wishes, as pertaining to possessions and dependents.
Why do people create them?
A Last Will and Testament allows you to communicate your wishes and make things easier for the people you care about. Creating a Last Will and Testament as a part of your estate plan will ensure all you leave behind---including the care of your children---will be taken care of according to your wishes.

8. Power of Attorney (POA)
Definition- the authority to act for another person in specified or all legal or financial matters. A legal document giving power of attorney to someone.
Real World Situation (My husband).
Types of POA.
Limited, General, Durable, Springing.

9. Limited, General. Durable, Springing
A limited power of attorney gives someone else the power to act in your stead for a very limited purpose.
A general power of attorney is comprehensive and gives your attorney-in-fact all the powers and rights that you have yourself.
A durable power of attorney can be general or limited in scope, but it remains in effect after you become incapacitated.
Like a durable power of attorney, a springing power of attorney can allow your attorney-in-fact to act for you if you become incapacitated, but it does not become effective until you are incapacitated

10. My left behind legacy. Dying age- 85, Partner die- 86.
Legacy left behind- House, Land, Restaurant- POA. Bank savings account, invested- Last will and testament. Life Insurance- age 16.
House, Land, Restaurant written POA onhusband then 3 oldest children.
Savings account- Whole family, money adding every month. (2,400$)+
Life Insurance- college funding, final expenses(funeral).

11. Funeral.
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