Protect Three Key Goals With Life Insurance

September is Life Insurance Awareness Month. And "awareness" is an appropriate designation, because many people remain unaware of the many ways in which life insurance can help families meet their key financial goals. Here are three of the biggest of these objectives, as seen through the eyes of a hypothetical couple, Jim and Joan:

* Pay off mortgage: Jim and Joan have a 30-year mortgage. If one of them dies well before that mortgage is paid off, could the other one afford to keep making payments to remain in the house with the children? It might be quite difficult – many families absolutely need two incomes to pay a mortgage, along with all the other costs of living. At the very least, the death of either Jim or Joan would likely put an enormous financial strain on the surviving spouse. But with the proceeds of a life insurance policy, the survivor could continue making the house payments – or possibly even pay the mortgage off completely, depending on the size of the policy and other financial considerations.

* Educate children: Higher education is important to Jim and Joan, and they would like to see both of their young children eventually go to college. Of course, college is expensive: For the 2016-17 school year, the average cost (tuition, fees, room and board) was about $20,000 for in-state students at public universities and more than $45,000 for private schools, according to the College Board. And these costs are likely to continue climbing. Jim and Joan have started putting money away in a tax-advantaged 529 savings plan, but if something were to happen to one of them, the surviving spouse might be hard pressed to continue these savings at the same level – or at any level. But the proceeds of a life insurance death benefit could be enough to fund some, or perhaps all, of the college costs for Jim and Joan's children.

This article was written by Edward Jones for use by your local Edward Jones Financial Advisor. Courtesy of Walter Lother, Financial Advisor, in North Adams, at 413-664-9253. Edward Jones, its employees and financial advisors cannot provide tax or legal advice. You should consult your attorney or qualified tax advisor regarding your situation.

Cost, Access to NBCTC High Among Concerns North Berkshire Residents

By Tammy DanielsiBerkshires Staff
06:15PM / Thursday, April 25, 2024

Adams Select Chair Christine Hoyt, NBCTC Executive Director David Fabiano and William Solomon, the attorney representing the four communities, talk after the session. 

NORTH ADAMS, Mass. — Public access channels should be supported and made more available to the public — and not be subject to a charge.

 

More than three dozen community members in-person and online attended the public hearing  Wednesday on public access and service from Spectrum/Charter Communications. The session at City Hall was held for residents in Adams, Cheshire, Clarksburg and North Adams to express their concerns to Spectrum ahead of another 10-year contract that starts in October.

 

Listening via Zoom but not speaking was Jennifer Young, director state government affairs at Charter.

 

One speaker after another conveyed how critical local access television is to the community and emphasized the need for affordable and reliable services, particularly for vulnerable populations like the elderly. 

 

"I don't know if everybody else feels the same way but they have a monopoly," said Clarksburg resident David Emery. "They control everything we do because there's nobody else to go to. You're stuck with with them."

 

Public access television, like the 30-year-old Northern Berkshire Community Television, is funded by cable television companies through franchise fees, member fees, grants and contributions.

 

Spectrum is the only cable provider in the region and while residents can shift to satellite providers or streaming, Northern Berkshire Community Television is not available on those alternatives and they may not be easy for some to navigate. For instance, the Spectrum app is available on smart televisions but it doesn't include PEG, the public, educational and governmental channels provided by NBCTC.