In fact, nearly 80% of millennials surveyed do not have a will in place, with a quarter of that number noting that a lack of assets is the reason why. We get it; times are tough. However, life insurance could be vital in creating financial stability for the future.

Protecting Loved Ones and Assets

If you’re raising a family, have a spouse, or run a small business, you have other people counting on you and your earning potential. Some debts, such as a mortgage, don’t automatically go away when you pass.

Even with a tight budget, life insurance policies can protect your loved ones and leave them with a way to continue paying bills. Term life insurance is one of the most affordable options. With a term life insurance policy, the people you care about can:

• Pay off a mortgage debt.
• Cover funeral and burial costs.
• Keep a small business running during the transition.
• Cover credit card debts or loans.

Leave an Inheritance

In general, leaving an inheritance for children is important. Without life insurance, your assets may go towards paying a debt that you owe. If you pass away while in debt, your family may need to sell your physical assets to satisfy the outstanding balances.

On the other hand, a life insurance policy can cover existing debts while also providing a financial future for your children or spouse. Your children can set aside a nest egg for future expenses like college or a down payment on a home.

Estate Planning

Retirement planning on top of existing financial obligations may be difficult. Investing in private retirement or opting for the maximum contribution may take a secondary priority when life is happening now.

In addition to some policies, like permanent life insurance and having a cash value option, there are other advantages to planning your estate with life insurance. You can borrow against the policy to supplement where private retirement falls short.

After you pass, there will still be additional financial obligations. Planning your estate with the payouts of life insurance provides advantageous tax-benefits, including:

• Offset the burden of inheritance tax, as life insurance is generally exempt.
• The continued support of minor children or people with disabilities.
• Help cover expenses during the process of probate.
• Help equalize heirs of an estate.

Final Thoughts on Life Insurance and Financial Stability

There are certain guarantees in life, and death and taxes are two. Planning for your loved ones’ futures may be difficult as life takes all that it demands. While you’re out making your living, consider life insurance as a way to protect those you love and your investments in the event of your passing. Speak with one of our knowledgeable agents at PHP agency to get a quote on an affordable policy.

The post How to Build Financial Stability with Life Insurance appeared first on PHP Agency.

Life is unpredictable, and death is a certainty. While we hope it’s a long way off, it’s essential to be prepared. That’s why getting life insurance now is a smart move.

Here are five reasons why:

1. Protect Your Loved Ones: Life insurance isn’t just about you; it’s about the people who depend on you. In the event of your passing, a life insurance policy can provide your family with financial security, helping them cover expenses and maintain their lifestyle.
2. Cover Funeral Costs: The cost of a funeral can be a significant financial burden. Life insurance can help your family cover these expenses, ensuring that your final arrangements are taken care of without causing undue stress.
3. Pay Off Debt: Debts like mortgages and credit card balances can be passed on to your loved ones after your death. Life insurance can help pay off these debts, relieving your family of a financial burden.
4. Fund Future Goals: Some life insurance policies can be used to fund future goals, such as your child’s college education or a retirement nest egg.
5. It’s More Affordable When You’re Younger: The younger you are, the more affordable life insurance premiums typically are. Don’t wait until it’s too late to get the coverage you need.

Life insurance is a smart investment that can provide peace of mind for you and your loved ones. Don’t leave it up to chance. Contact PHP Agency today to learn more about your options.

The post Life Insurance: A Trick or Treat? appeared first on PHP Agency.

DALLAS – January 4, 2023 – PHP Agency (“PHP”), a tech-enabled national field marketing organization serving America’s diverse middle class, and part of Integrity Marketing Group, LLC (“Integrity”), a leading distributor of life and health insurance, and provider of wealth management and retirement planning solutions, today announced PHP has named Maral Keshishian as President.

Since 2011, Maral Keshishian has served PHP Agency in multiple positions of escalating executive responsibility spanning finance, commissions, marketing, special events, reputation management, public relations, and field incentive programs. In the role of President, Maral will lead back-office operations, including new business processing (life insurance, annuity, final expense and MedSup products), agent licensing and carrier appointments, contact center administration, marketing, events, and field recognition programs.

“Maral has been making a remarkable impact as a valuable member of PHP for over a decade. This promotion reflects the unique experience she has acquired leading and delivering results for multiple home office departments over that time,” shared Patrick Bet-David, Founder & CEO of PHP Agency. “I am exceptionally pleased to make the announcement at this time as it sets the leadership team in place that will lead PHP today and into its next phase of growth.”

“It is an honor to continue to serve our field agents and our employees in this new capacity. With a continued focus on the growth of our key operational metrics, PHP is better poised to scale today than ever before,” shared Keshishian. “With our Founder & CEO’s incredible example of leadership and our partnership with Integrity, I am grateful for the opportunities PHP has provided me as a woman in our industry.”

“For over a decade, Maral has provided impressive leadership in every role she’s been appointed,” explained Bryan W. Adams, Co-Founder and CEO of Integrity. “As she moves into this new position, we are confident that she will continue to excel using her unique skills and talents to propel PHP’s growth to new levels. This promotion is also representative of PHP’s well-known championship of women and diverse groups within their leadership teams, a focus which is in perfect alignment with our priorities at Integrity. Our Women in Leadership initiative will be greatly strengthened by the addition of Maral and we are thrilled to welcome and support her in this new role.”

Maral Keshishian holds a degree in political science from UCLA and an MBA from Woodbury University. She and her husband Tigran Bekian, the Senior Program Manager for Sales, and Distribution at PHP, live in Dallas with their two young sons.

About PHP Agency
Founded in 2009, PHP Agency is a tech-enabled national field marketing organization (FMO) headquartered in Addison, Texas. With over 27,000 licensed agents nationally in 49 states and Puerto Rico, PHP’s agents have educated and served over 450,000 American families. PHP partners with leading insurance and annuity carriers and provides part-time or full-time opportunities to those seeking careers as life insurance agents. For more information, visit www.phpagency.com.

Media Contact:
Rachel Aird, Public Relations Director
Integrity Marketing Group
[email protected]
801-706-7005

Partnership Inquiries:
Eric Pederson, Vice President of Business Development
Integrity Marketing Group
[email protected]
866-650-1857

Maral Keshishian

The post PHP Agency Announces President appeared first on PHP Agency.

Despite it not being a pleasant topic of conversation, it is a necessary one. According to one report, 83% have a financial plan after death, but only about a third of those have discussed what it entails. After death isn’t the time for communication. Here’s why and how you can talk about life insurance with your family.

It Communicates Care

If you were to pass away unexpectedly, your family would be emotionally and maybe even financially devastated. Regardless of your role in the family, your contributions matter. If you’re the primary financial contributor, would your family be able to cover their expenses?

If you stay home and care for the children, could your partner afford daycare after you are gone? A clear discussion about the financial plans in the event of death sends the message that you want your family to be taken care of and able to carry on.

Provides Opportunity to Plan

A discussion about life insurance is a great opportunity to lay all the plans on the table. Talking about what would happen after your departure could provide the opportunity to detail what would need to be covered. While discussing the matter, you can figure out:

• The entire household income.
• Future financial goals.
• All outstanding debts.
• Bills and other financial obligations.
• Taxes and funeral expenses.

Laying out all the plans can help you get a whole idea of how much insurance you’d need to purchase, who would be the beneficiary, and how to use the money. This could bring your family a lot of peace surrounding the topic.

Opens Discussion for Insurance Plans

Maybe during the financial planning conversation, you uncovered an expense that was particularly troubling to your partner. In that case, you could discuss other options to help ease the burden. Insurance policies for specific purposes exist, including:

• Survivorship insurance for estate planning
• Funeral insurance for burial expenses
• Mortgage insurance to cover the balance on your home.

Being proactive in deciding which type of policy or policies to get is another opportunity to communicate that you care about your family’s future after you’re gone. It’s an opportunity to come closer and be a united team.

PHP Agency Can Help You Get the Insurance You Need

Nobody wants to think about death, let alone discuss it with loved ones. It’s an important topic to cover, though. If done correctly, it’s a chance for proper financial planning and solutions that matter. While applying practicality to the matter, it’s also a chance to communicate your care and alleviate any doubts surrounding the topic. If you need more help, guidance, or clarity on specific policies and how they’ll protect your loved ones, give one of the caring professionals at PHP a call to learn more.

The post It Shouldn’t Be Scary: Talk About Life Insurance with Your Family appeared first on PHP Agency.

The last thing anyone would want to do is to leave loved ones scrambling around trying to figure out how to continue living after their provider has passed. So, while the day is hopefully in the very far future, here are some tips for securing your family should you die.

Financial Security

Suppose you pass away, not only would your family be grieving your loss, they’d be trying to figure out how to fill the void of your financial contributions. Whether you’re the primary provider, paying child support or alimony, or caring for someone with a disability, ensure your family is protected with adequate life insurance.

Though several factors go into calculating how much life insurance to purchase, such as debt, income, mortgage, and college tuition, there is also a general rule of thumb here. Get enough insurance to cover ten times your current income. That buys your family a cushion to settle debts, provide some time to heal, and plan for the future.

Depending on what your current financial and physical status is, there are several attractive options for purchasing life insurance to protect your family, including:

• Term Life
• Whole Life
• Survivorship Life

Understanding what each of these policies includes, how they payout, and how your family could benefit from them is a critical component in purchasing one. If you’re unsure about what your family may need, it may be best to speak with an insurance agent before buying one.

Communicate and Stay Organized

It may seem obvious, but after your passing, your ability to communicate with your loved ones is gone too. You can’t tell them where to find necessary paperwork or communicate your intentions. It would help if you did all of this while you’re here.

Shockingly, one survey showed that less than 20% of adults with assets to pass communicated their intentions with their heirs. If you don’t say it, nobody can know what you want after you’re gone. Additionally, a lot of paperwork is needed in the event of death. Make sure your family knows where to find the following:

• Social security card
• Legal certificates (like birth and marriage)
• Living wills or legal documents
• Income & debt paperwork (including tax records)
• Deeds, titles, safe deposit keys

Staying organized and communicating where to find important paperwork will help your family navigate life after death. Don’t leave your desires to question. Let your loved ones know your intentions and have the records available.

Final Thoughts on Securing Your Family

Death isn’t a pleasant thought while living. It would be even more traumatic if you passed and left all of your intentions and work to question. Take steps to protect your family in the event of your passing, including having financial support and detailed records. To better understand policies that could help your family speak with one of the insurance agents at PHP agency.

The post How to Secure Your Family if You Pass appeared first on PHP Agency.

It seems like daily news was full of a new COVID-19 spike, and we became painfully aware of how fragile life is. After several years of a steady climb, the average life expectancy dropped by 1.5 years following the pandemic. In the wake of recovery, eyes are opened to the necessity of life insurance and protecting your loved ones.

Life Insurance is Protection

Suppose you have a family, a mortgage, or others who depend on you and your financial contributions. The pandemic likely brought up feelings of financial insecurity. At the pandemic’s start, layoffs were catastrophic, with 49 million people filing for unemployment benefits. Of that number, financial obligations didn’t just go away for people no longer employed. They still needed shelter, food, and transportation, but the world sat in uncertainty. Life insurance became a necessity in this time of forced realization that nothing is guaranteed, and it’s better with protection.

Life insurance protects your loved ones and your investments when the unexpected happens. The many options for achieving coverage mean finding a solution for your situation is easy. Let’s look at the different types of insurance and how they could help your family.

Term Life Insurance

Term life insurance is a guaranteed payout in the event of death. The policy pays out in full to cover your expenses, such as the balance of your mortgage, funeral expenses, and remaining debt. When seeking term life insurance, you agree to pay a monthly premium for a set amount of time. Term life insurance is an affordable option for protection and, in general, is easier to obtain. The benefits include:

• Guaranteed payout
• Lower premiums
• No physicals required
• Flexible terms available

Whole Life Insurance

When dealing with the complexities of life, such as extended debts, businesses to run, or the ebb and flow of work, you might need insurance with a more robust set of solutions. Whole life insurance may be an answer if you have an increased need for protection.

While whole life insurance requires a little more work, it also comes with a wider range of benefits. Many whole-life policies have built-in savings associated with them. If you find seasons of life have less cash flow than others, this might be an attractive option. Getting whole life insurance is easier if:

• You obtain it at a younger age.
• You’re in relatively good health.
• You don’t engage in risky behaviors.

Final Thoughts

The COVID19 pandemic forced us all to take a step back and evaluate what’s important, what needs protecting, and what you can personally do about it. Some of the things we learned had more profound impacts, like the importance of placing family first. Choose the right type of life insurance and rest easier. Keep yours protected by knowing they’re covered if something happens. Contact an agent with PHP agency to learn more about your life insurance options today and get covered.

The post How COVID Changed My Life appeared first on PHP Agency.

If you’ve been born, there is a 100% chance at some point you’ll die too. Hopefully, that’s later rather than sooner in regards to tricks or treats, but either way, you’ll need to be prepared. Here are five reasons to get life insurance now.

Protect Your Loved Ones

Passing away while young is never the trick you want to pull from life’s bag. However, suppose you’re in the middle of raising a family, running a business, or have people in your life who depend on you. In that case, life insurance is a great way to protect them.

In the event of your passing, your loved ones will have to continue their life without you. A good life insurance policy helps give them time to grieve your death, continue meeting bills, and figure out the future in your absence.

Cover Funeral Expenses

Gravestones are a fun and affordable Halloween decoration. One person can have several in their front yard. However, that’s not the reality for an actual gravestone. The cost of funeral and burial expenses add up quickly, with the average casket ranging between $2,000-$10,000.

That’s not to include the other aspects of arranging a funeral and burying a loved one. After your passing, your family has enough to worry about without figuring out how to pay to honor your life. Most life insurance policies payout upon proof of death, and your family can use it to cover these costs.

Pay Off Debt

Another trick you’d never want to chance in the event of a death is passing off your debt. Some debts don’t resolve upon your death and can leave your family in a worse position should they be left uncovered.

A home mortgage is one of those debts. Suppose you pass away while there is still a mortgage note left. In that case, the bank can recover their assets leaving your family homeless and grieving. Most life insurance policies can be purchased with enough coverage to pay off the remaining balance of your home and provide your family with security.

Finance College Tuition

Here’s a treat regarding life insurance: Some whole-life policies offer the ability to borrow against the policy. Your life insurance could potentially pay for your child’s college education. Some policy loan rates would be cheaper than student loans.

It’s Cheaper When Your Younger

Trick or treating isn’t the only thing that’s better when you’re younger–life insurance rates are too. While we’re talking about getting while the getting is good, buying life insurance is more accessible and more affordable while you’re young. If you’re already looking for insurance and are between the ages of 18-40, now is the time to buy!

Final Thoughts

Sometimes life gives good surprises. Other times things are left up to circumstance. Purchasing life insurance while you’re young helps ensure that your family is protected and can continue their lifestyle in the event that you pass away. Speak with one of the experienced agents at PHP agency and see about getting all treats and no tricks.

The post All Treats, No Tricks: 5 Reasons to Get Life Insurance appeared first on PHP Agency.

In fact, nearly 80% of millennials surveyed do not have a will in place, with a quarter of that number noting that a lack of assets is the reason why. We get it; times are tough. However, life insurance could be vital in creating financial stability for the future.

Protecting Loved Ones and Assets

If you’re raising a family, have a spouse, or run a small business, you have other people counting on you and your earning potential. Some debts, such as a mortgage, don’t automatically go away when you pass.

Even with a tight budget, life insurance policies can protect your loved ones and leave them with a way to continue paying bills. Term life insurance is one of the most affordable options. With a term life insurance policy, the people you care about can:

• Pay off a mortgage debt.
• Cover funeral and burial costs.
• Keep a small business running during the transition.
• Cover credit card debts or loans.

Leave an Inheritance

In general, leaving an inheritance for children is important. Without life insurance, your assets may go towards paying a debt that you owe. If you pass away while in debt, your family may need to sell your physical assets to satisfy the outstanding balances.

On the other hand, a life insurance policy can cover existing debts while also providing a financial future for your children or spouse. Your children can set aside a nest egg for future expenses like college or a down payment on a home.

Estate Planning

Retirement planning on top of existing financial obligations may be difficult. Investing in private retirement or opting for the maximum contribution may take a secondary priority when life is happening now.

In addition to some policies, like permanent life insurance and having a cash value option, there are other advantages to planning your estate with life insurance. You can borrow against the policy to supplement where private retirement falls short.

After you pass, there will still be additional financial obligations. Planning your estate with the payouts of life insurance provides advantageous tax-benefits, including:

• Offset the burden of inheritance tax, as life insurance is generally exempt.
• The continued support of minor children or people with disabilities.
• Help cover expenses during the process of probate.
• Help equalize heirs of an estate.

Final Thoughts on Life Insurance and Financial Stability

There are certain guarantees in life, and death and taxes are two. Planning for your loved ones’ futures may be difficult as life takes all that it demands. While you’re out making your living, consider life insurance as a way to protect those you love and your investments in the event of your passing. Speak with one of our knowledgeable agents at PHP agency to get a quote on an affordable policy.

The post How to Build Financial Stability with Life Insurance appeared first on PHP Agency.

An estimated 8.2 million people chose the self-employment route in the wake of the pandemic. If that’s you, or you run a small business, you may wonder what happens with insurance benefits now that you work for yourself.

The answer is that you have options. There are several different types of life insurance available for small business owners or people who are self-employed. We’ll look at the various ways you can obtain life insurance and how to determine how much you need.

Types of Life Insurance Available

Being the owner of a small business, or being self-employed, means that people count on you. Your ability to provide financially is an asset to those around you, and it needs to be insured. Just because you’ve left the formal work environment doesn’t mean you should forgo life insurance.

When it comes to ensuring your financial future as a self-employed individual or a small business owner, three main types of life insurance are typically chosen with popularity:

• Personal Life Insurance: Personal life insurance is tailored specifically to your financial profile. It is taken out and paid by one individual rather than a group of people and names a specific beneficiary in the event of death.
• Key Man Life Insurance: This type of policy is designated to protect a business if a high-level executive should be incapacitated or pass away. For a smaller business, this would be the owner of the company. The policy ensures that the business operations can continue to function without the key man.
• Buy-Sell Agreement: In a small business setting that is started by more than one individual, a buy-sell agreement is a policy that is taken out to protect each owner if the other owner dies.

Purchasing the Right Amount of Insurance

Identifying which type of policy fits your current profile is only half the strategy. A general recommendation is to take out a policy covering 10-15 times your annual income. You also need to consider how much your death or inability to work would cost your loved ones or business.

To get an accurate estimate of how much insurance you’ll need, you need to look at your financial facts. Weighing your income versus your responsibilities will help you know the policy size to buy. Consider the following when making a calculation:

• Number of Employees
• Assets or Resources
• Overhead Costs
• Debts
• Other Owned Insurance Policies

Final Thoughts on Life Insurance for Small Businesses or Self-Employment

If you’ve chosen to enter into self-employment or run a small business, you’re not alone. The world is quickly moving towards a new work structure. Once you make the leap, ensure that your loved ones are covered if something happens to your income source. Choose the right type of policy and calculate how much insurance you’ll need to make a sound financial investment in your business’s future. Contact PHP Agency today to learn more about your life insurance options.

The post Self-Employed or Small Business Owners Need Life Insurance appeared first on PHP Agency.

People are living longer due to advancements in the standard of living, public health, and medical technologies. This is great news, right? Yes, but as you plan for longer life, more factors need to be considered.

As the population ages, there will need to be a greater focus on financial planning as social entitlement programs will be taxed with providing. Here is a look at factors that affect life expectancy and what that means for ensuring your financial future.

Predicted Life Expectancy Factors

Although based on complex statistical facts and measured with accurate analysis, a life expectancy is simply the best guess. For a given population, life expectancy describes an average. Some people will live drastically shorter lives, while others will outlive the predicted age by 30-40.

An actuary assists life insurance companies by using mathematical facts and financial theory to determine the insured’s risk. Generally, the greater risk an individual carries, the more they can expect to pay in insurance premiums. Here are a few important factors that are considered during risk calculation:

• Current Medical Standing
• Age
• Lifestyle Choices
• Personal and Family Medical History
• Gender
• Access to Healthcare
• Socioeconomic Status

What Your Risks Mean for Insurability

You don’t buy an insurance policy to use today, but the here and now is when you should buy one. Because premiums are determined by risk, the longer you wait to purchase life insurance, the more you can expect to pay in premiums.

Keeping this in mind, if you’re between the ages of 20-40, it’s likely an ideal time to consider life insurance, even with retirement and mortality far away. Knowing which type of policy to consider will help you make a smart decision.

• Term-Life Insurance: A term policy is an agreed and guaranteed payout for a specific number of years. The premiums associated with a term-life policy are generally cheaper. Still, once the contract is over, there is no payout or extended benefits.
• Permanent Life Insurance: Also referred to as whole life insurance, this type of policy does not expire and protects the insured for their lifetime. There are also associated benefits with these policies, including savings aspects that allow you to withdraw from the policy while alive. Purchasing a permanent life insurance policy while you’re young and healthy is a sound decision.

Wrapping Up Life Expectancy and Insurance

Advancements in technology and healthcare have led to an increase in life expectancy. As the age of mortality increases, you’ll need to make informed decisions regarding financial planning. Using life insurance to protect yourself and your loved ones will decrease the costs associated with aging. Knowing that risks increase as you age, which causes higher insurance premiums, buying a policy now is a sound financial investment. Contact PHP Agency to get the coverage that you need today.

The post Life Expectancy Today appeared first on PHP Agency.