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L Convration tat mak a irnc.Now an in your utur.
third Edition
Brougt to you by
2 B B Rw
Dealing with lifes big decisions
6 W I Dont be afraid of change
9 T I Eq What does it take? Single? Married?
10 & I Replacement income
has no gender
INsIde
113025 11/12/10
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once youre gone. Tink of it as an opportunity to make
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brings big rewards.
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Talk freely and listen closely. I
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Te important thing is to simply begin.
Lets Talk i a way o ncouraging you to conir
om o li big iu, an a man o giving
you om o t tool you may n to av t
convration. Your amily fnancial utur i on
o t big iu, an likly a a lot o irnt
part. W op youll t ubjct a ric an
intrting, worty o tougtul coniration, an
not a problm to b olv. To tat n, youll fn
tip, avic an ia to lp gt t ball rolling. Tat
ai, ti i not omting tat a to b on all at
onc, it ont av to b on toay. But it goo
to put it on your raar an gt tart.
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T h e
T h e g o o d n e w s ? T h e r e d o e s n T
h av e To b e a n y b a d n e w s .
Wn you tart talking about li an wat com atr your gon,
tay poitiv an upbat. Atr all, it not your imminnt mi
your talking about. Your imply taking avantag o ti mo-
mnt an ti opportunity to lp cur your amily utur an a
particular way o bing rmmbr. I your aving t convr-
ation wit a pou, you migt larn ting about ac otr tat
urpri an ligt you. Mayb t ia o omay ownizing
your om an lityl woul b irabl. Prap ti i your
opportunity to lav mony to cau tat av alway bn ar
to your art but tat you wrnt abl to giv a big noug plac
in your bugt. Jut a wit planning or rtirmnt, planning ow
your amily will carry on an ow youll b rmmbr i up to you.
y o u c a n p u T y o u r m o n e y
w h e r e yo u r h e a r T i s .
Too otn wn w tink about fnancwtr ort or long
trmw jump traigt into t nut an bolt inta o tinking
about wat kin o opportunity w rally av. I amily i t mot
important ting in your li, int ti an opportunity to ow it?
Crtainly you o your bt to provi or tir currnt n, but
ti i your canc to b proactiv about tir utur. do you av
a aving account or a collg un? do your mot important
ting occupy an qually important plac in your bugt? hav
you ma ur tat your not laving your amily in bt or
truggling? T ar qution wort tinking about ani you
avnt alrayoing omting about.
Fresh perspectives on a tough topic:
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gnwort.com/lt-talk 5
Open up the conversation.
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W . Hw :Thoughts for
rewarding discussions.
Te best time to plant a tree was 20 years ago.
Te second best time is today.
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Te conversationmay be hard to start,but no one ever regretshaving done it.
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Two little words
that spark great, big conversations:
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Wat i?
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Womens lie insurance coverage is 63% that o men.Limra, 2005 us ownership sTudy
The idea is to trouble shoot as much as possible
now so that one of lifes most emotional times
isnt also full of questions and confusion.
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gnwort.com/lt-talk 7
I stay-at-homemoms got paid a
air wage or the
services they provideit would be almost$138,095 per year.hTTp://arTicLes.moneycenTraL.msn.com/
coLLegeandFamiLy/raiseKids/
ThepriceoFamom.aspx, ocTober, 2008,
viewed ocTober, 2010
Whatever you say,
people respond differently.
1 . T h e e T e r n a L o p T i m i s T
Tese types will make it easy on you. Teyre the ones who never heard anythingthey couldnt put a positive spin on. Oh good, youre taking care o things! Andbesides, it wont happen or a long, long time.
Wil vryon lov an optimit, it important to mak ur ty ar aring you.
Tll tm you apprciat tir up-bat attitu, an tat your counting on tm to
kp pirit up wn your amily an rin n it mot. Giving tm a fnit
rol tat o accuratly matc tir pronality will rv to mak t ituation ral
not imminnt, jut omting tat will rquir an bnft rom tir participation.
2 . T h e p e r p e T u a L p e s s i m i s T
Despite daily evidence to the contrary, theyre always looking up, expecting chunks o sky
to hit them. Te mere mention o the D word will have them putting on their uneralattire, which is probably reshly pressed and hanging toward the ront o the closet.
Wat can you o? A uual, youll n to b t voic o raon. Lt tm know
tat ti i omting you ont anticipat appning anytim oon, but tat you
l o muc bttr to b taking car o ting now. Tank tm or taking t
ituation rioulyti put a poitiv pin on tir ngativ outlook.
3 . T h e n o d d e r
Tese olks engage quickly enough, but you can tell theyre just going along.Tey certainly appear to be listening and understanding still, you wonder i theyresimply being polite, because or whatever reason, they may not be truly engaged.
Rpat yourl to mak ur youv bn ar. Nxt, look tm in t y an
ay, Tank you or litning o wll. Now I rally lik to ar wat you tink.
T gntl irctn o ti gtur invit a ocu ngagmnt.
4 . T h e p r o c r a s T i n a To r
Tey sense a serious discussion coming on. Suddenly they have to clean the gutters, orwash the unwilling cat, or one o a million other things that you both know can wait.
Rolut irctn i rquir r. Aur tm it not ba nw, jut important
tu. Mak a at to talk an init ty tick to it no mattr wat. Bttr, yt, ak
tm to giv you a tim wn it woul b convnint to talk. Otn, wat a procra-
tinator rally n i tim to igt t ia o talking an not t talking itl.
5 . T he J o K e r
Some people manage to make light o even the heaviest subjectsits their wayo processing things. So let them do just that, but at some point make sure theyunderstand how important this is to you.
Ty clarly prr to kp ting ligt, o work witin tat ralm. Go along or a w
minut. Lt tm know you njoy tir ligtart approac to vryting. Tn
pau an otly ay, Can w talk about omting riou? Ti allow un-loving
typ to rmain o, wil till taking car o a mattr tat i important to bot o you.
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5
K
C P SThey understand
more than you think.
Cilrn pronaliti vlop
arly on. som ar alway car-
r, om ar born worrir. But
no mattr ow your cil ap-
proac li, it important to
conir ow you woul av a
convration wit a cil about
a li witout youan jut a
important, wn you woul av
uc a convration.
A cil ag an maturity lvl
will play a critical rol in tr-
mining wn, ow an wat you
icu. Canc ar goo tat
at om point or migt
ak, Wat i omting appn
to you? Wr woul I liv?
having a confnt anwr may
b a ourc o grat comort to
you bot.
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8 gnwort.com/lt-talk
D
.What to talk about, what to consider.
J .
I your ingl, wat obligation will rmain atr your gon? do you av parnt or rla-
tiv you want to tak car o? Ar tr popl wo ar pning on you now, or wo may
b pning on you latr in li? Ar tr gocilrn, nic, npw, or rin you wi
to lav omting to? Will your pt n to b car or? Ar tr cariti an cau to
wic you lik to giv? Kping in min wat i important to you will lp you put plan in
plac tat will nur to popl, pt an ting ar car or.
h o w d o y o u wa n T
T o b e r e m e m b e r e d ?
Ti i anotr important qution. Will you b
rmmbr a omboy wo l by xampl?
A givr? somon wo ligt in t ucc
o otr an took tp to promot it? A pron
wo took car o ting? To a grat xtnt, ow
you will b rmmbr i up to you.
h o w w i L L y o u r L o v e d
o n e s F u T u r e L o o K ?
For womvr you lav bin, no oubt your
wi i or tir liv to b fll wit poibility
an voi o truggl. Wil om xprt ug-
gt purcaing 5 10 tim your annual alary
in li inuranc covrag to cur your amily
fnancial utur, rcnt rarc ow tat tr
i not a on-iz-ft-all ormula. Popl wo av
rciv mony rom li inuranc polici ay
ty rally n twic a muc a wa plann
or. In ort, noting tak t plac o fguring
out your uniqu ituation an tinking about bot
ort trm an long trm n.
I your marri, o you want your pou to
av t coic o working or working l? I
youv alway bn a cartakr, your amily
fnancial curity byon your yar will lt
your lov on know tat your till on t
job. T important ting i to mpowr your
lov on, to lav tm wit t ability an
t man to mak coic tat ar not ba
on fnancial contraint.
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Tip& IImportant Points to Ponder
10 gnwort.com/lt-talk
R .
I incom go awaywtr it i or r
it itr n to b rplac, or om lityl
cang may n to occur. Too otn it i a-
um tat only t man or primary brawin-
nr n to inur, but ti notion i ort-
igt. Many ouol toay rly on two
incom, an a lo o itr coul av ignif-
cant conqunc. Furtr, i tr i a tay-at-
om parnt, it bcau t amily plac ig-
nifcant valu on tat rol; aving t fnancial
man to fll t ay-to-ay rponibiliti o
tat rol, oul it bcom ncary, i vital.
Andrew and Catherine Aw w .
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Almost 2/3 o moms withoutadequate lie insurance coverage didnot work with a fnancial advisor.genworTh insurance aTTiTudes research, ocTober, 20 06.
L FWomn oul conir taking a
laing rol in li inuranc i-
cuion an plan. T rality i
tat womn otn outliv tir
pou an will b mot im-pact by watvr ciion
av bn ma. Witout carul
planning, womn can b lt wit
wr rourc tan ty a
count on. Tak t initiativ
an tart t convration toay.
Ex .Otn it i ifcult to rlat to omting tat you av not xprinc
pronally an tat you bliv will not appn to you in t orabl
utur. somtim, toug w can larn a lot rom t xprinc o otr.
55% o pou wo fnancial ituation improv atr tir lov
on pa away wr involv in t ciion to buy li inuranc.
59% o popl wo work wit a fnancial avior wr confnt
tat ty woul av noug mony to maintain tir tanar o
living troug tir rtirmnt.
65% o popl wo lov on a tir polici rviw annually
by a fnancial proional wr abl to u t li inuranc
pay-out or immiat n andlong trm plan uc a collg
an rtirmnt aving.
Talking about an bing involv in t planning an ciion making aroun
li inuranc covrag can lp cur your an your amily fnancial
utur wn omon pa away.
genworTh FinanciaL LiF e beneFiciary sTudy, 2010
Women on average outlive men by 5 years.hTTp://www.cdc.gov/nchs/daTa/nvsr/nvsr57/nvsr57_14.pdF,
apriL, 2009, viewed ocTober 2010.
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G B? Many mployr orli inuranc a part o a rgular bnft
packag, an probably or aitional
covrag tat can b purca.
howvr, t covrag may b lacking,
an buying aitional covrag troug
your company can b mor xpniv
tan buying it outi t workplac. Alo
important to kp in min i tat popl
will typically av many job ovr tir
litim an a company group covrag
i uually not portabl. T act i tat
omtim obtaining a policy on your own
i bttrt pric will b trmin by
your own ag, alt, an wllbing, an
not by t pool o co-workr. In ort,
it nvr a ba ia to talk to an avior
about wat bt or you.
F? P-?
C W? I you ar not aprmannt mploy, wic crib
mor an mor popl t ay,
you probably ont av any mploy
bnft, or vry w. But jut bcau an
mployr ont or it ont man
you ont n it.
gnwort.com/lt-talk 11
The Inside Scoop
Wn it com to mployr-orli inuranc, ra carully an
o a bit o invtigating. You coul
vry wll fn t am covrag
or bttr or l mony by op-
ping aroun.
T w:M .
Hal o U.S. households readily admit they currentlydont have adequate lie insurance coverage.
Limra, 2010 u.s. ownership sTudy
My dad w I w 12
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w . S w, I .- Michelle P.
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12 gnwort.com/lt-talk
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B fx. I w ,your plans might need to change, too.
F :they grow, they shrink, they age.
For bttr or wor, popl ivorc an rmarry, making
bln amili commonplac t ay. Ar tr cil-
rn rom a frt marriag? Cilrn rom a con mar-
riag? hav t ki bcom inpnnt? hav your par-
nt tart to rly on you mor? Wn an i your amily
ituation cang, you may want to tink about upating
your plan or tir fnancial utur.
When an emergency arises, you and your amily willnever regret having wasted all those annual premiumson insurance you dont need.www.KipLinger.com, eighT Keys To FinanciaL securiTy,december 2008, viewed ocTober, 2010.
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gnwort.com/lt-talk 13
P Bake out the guesswork.I marri, it ay to mak aumption about ow you tink
tat your pou woul want you to liv in t vnt o i or r
paing. It alo an ay ubjct to put o bcau it rquir aling
wit a a poibility. Tat okay, it normal. But int it bttr to
know, an av icu wat important, tan to gu? Li i
unprictabl an rquntly rquir u to cang cour, an ti
bcom vn mor tru a w grow olr. so wy not ac it a-
on? Crat a Plan B, an tn op youll nvr n it. An i you
o, youll l bttr knowing tat you crat it wit your lov
on input an you can l confnt putting it into plac.
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ollection/www.cartoonbank.com
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All this talking and planning?
its easier than you think.T w -
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Talk to your parnt, your ki an
anyboy l wo occupi an im-
portant plac in your art or worl.
Talk to your fnancial proional or
i you ont av on, fn on wit
wom you ar comortabl.
Mak a plan, ar it wit your
lov on an put it into action.
1
2
3
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H. I.
A B I . I I . - Mary D.
T w w j . - eresa E.
T 6 w I . H w w. - Jeanne D.
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w w , w . A , . - Steve B.
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w, w . I w I . I w . - Elizabeth H.
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I I I . I w I w . - Elena C.
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TeLets Talkseries is designed to help amilies think through importantissues. Other editions in theLets Talkseries may help you have
conversations about long term care and retirement. Ask your fnancialproessional or these and help in securing your fnancial uture.
T Gw F , .
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Li Inuranc Unrwrittn by:
Gnwort Li an Annuity Inuranc CompanyRicmon, VA
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Ricmon, VA
Gnwort Li Inuranc Company o Nw York
Nw York, NYOnly Gnwort Li o Nw York i licn to conuct
buin in Nw York.
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rgitr rvic mark o Gnwort Financial, Inc.
T i i b
L Convration tat mak a irnc. Now an in your utur.
Inuranc an annuity prouct:
Ar not poit.
Ar not inur by t FdIC or any otr ral
govrnmnt agncy.
May cra in valu.