Retirement Plans for Everybody
At TCCU you have a choice. You can choose to create an investment plan that will fit your goals, whether it's saving for college, preparing for a comfortable retirement, or planning for your heirs. If you're not finding the right investment returns on your own, come see Jeff Murphy, TCCU's onsite Financial Advisor. He can help you navigate through the products and services offered to you as a credit union member. Find a plan and let your money work for you. Call Jeff directly at 818-992-5345 or call the Credit Union for more info at 310-618-9111.
Retirement Plans for Business Owners
You have the power of choice as a small business owner, and choosing the right retirement plan is in your power at TCCU! Jeff Murphy, our onsite financial advisor can help you navigate through the products and services only offered to small business owners. Find a plan and let your money work for you. Call Jeff directly for an appointment at 818-992-5345 or call the Credit Union for more information at 310-618-9111.
How to Determine Life Insurance Options
How much life insurance do you need?
Your life insurance needs will depend on a number of factors – the size of your family, your financial obligations, your career stage, and your goals. When you're young, you may not need life insurance. However, as your family grows and responsibilities increase, your life insurance need increases.
Read more about how to determine what's right for you and your family, and to make an appointment with Jeff Murphy, TCCU's onsite Financial advisor.
Here are some questions to consider in determining the amount of life insurance you may need:
• What immediate financial expenses (e.g., current debts, funeral expenses) would your family face upon your death?
• How much of your salary is currently devoted to household expenses and investing for the future?
• For how long would your dependents need support?
• How much money would you want to leave for additional goals, such as your children's (or grandchildren’s) education, gifts to charities, or an inheritance for your children/grandchildren?
• Do you have an interest in a small business? Without life insurance, the business may dissolve or need to be sold upon death of an owner/partner.
• What assets or insurance policies do you currently have?
Types of life insurance policies
There are two basic types of life insurance: term life and permanent (cash value) life.
• Term policies provide insurance for a specific period of time. If you die during the coverage period, your beneficiary receives the policy's death benefit. If you live to the end of the term, the policy simply terminates. Term policies are typically available for periods of 1 to 30 years. Typically, both the premium and the death benefit remain level for the policy term.
• Permanent insurance policies offer protection for your entire life, provided you pay the premiums to keep the policy in force. A portion of each premium payment is placed in the cash-value account. During the early years of the policy, the cash-value contribution is a large portion of each premium payment. As you get older, and the true cost of your insurance increases, the portion of your premium payment devoted to the cash value decreases. The cash value continues to grow--tax deferred--as long as the policy is in force. You can borrow against the cash value, but unpaid policy loans will reduce the death benefit that your beneficiary will receive. If you surrender/cancel the policy before you die, you'll be entitled to receive the cash value, minus any loans and surrender charges, if any. Common types of permanent (cash-value) life insurance are Whole Life, Universal Life, and Variable Life.
Let us help you determine the type and amount that is right for you, or review any current policies you may have.
Securities offered through Securities America, Inc., a registered broker/dealer, member FINRA/SIPC. Investment advisory services offered through CUE Financial Group, Inc., a SEC registered investment advisor and general insurance agency. Securities and insurance products are not insured by any federal agency and are subject to investment risks, including possible loss of principal invested. Securities America, Inc./CUE may receive commissions in connection with insurance or securities transactions conducted through it. CUE Financial Group, Inc., CA insurance license #0F56562. CUE Financial Group and the Torrance Community Credit Union are separate entities from the Securities America companies. Securities offered in the states of CA, CO, FL, HI, MT, NC, VA and WA. These products are not obligations of the credit union and are not guaranteed by the credit union or any affiliated entity.
Check the background of this financial professional on FINRA's BrokerCheck.