Sadiq's General

Memorandum

Scope

To develop affordable insurance plans and premiums to aid those who are seeking retirement supplements. These living insurance policies are designed to provide monthly stipends for those who enroll in these plans. Retirement and healthcare currently exist in unbalanced scale. In retirement we do know that money is fixed resulting from being unable to work to earn more. The manditory living insurance policy seeks to remedy income and accumulation by providing money one can use for anything necessary including rent, car and food.

Conflict

Most 401(k)'s and IRA plans are implemented to provide along with social security money for retirement. Since the stock market has not had considerable gain or since recovered from business losses as this has affected those who have invested for retirement. Social Security along is not enough to survive off of. Of course there is long term care insurance, but one must bear in mind that you will need two triggers or incidents regarding your health that will make you eligible to live in a place that will assist you with those needs. This means that if you are over the age of 65, you may be able to access some senior citizen services resulting from your age, but you may still not be able to qualify for use of your long term care plan regarding assisted living because you have yet to demonstrate a need in regards to mental or physical difficulty. A person with health and long term care insurance may have it but still may be healthy enough not to be able to use it.

Resolution

With the implementation of a manditory living insurance policy the retirement sector of the population will be assisted with monies for the continued use of  rent, transportation, food, clothing medications and other needs. Along with your social security, this insurance plan will sustain those during their retirement years until they are able to qualify under their long term care insurance plan, if purchased. Section 8 and medicaid are available but you then run the risk of leaving decisions about your life, health and wellbeing up to the government after working so hard to avoid being subjected to section 8 and the medicaid system.

Goal

The manditory living insurance policy is purchasable for those over 18 year and under 79 years of age. Policies start at $100,000 dollars and can be purchased in increments of $100,000. Premiums are based upon the amount of the insurance you purchased and can be bought by an individual or couple. Once purchased money cannot be withdrawn until you reach 62. If money is withdrawn for eary retirement then you may be subjected to penalities. This is to ensure adequate funds available for those who purchase a policy and retire and you are eligible to recieve monthly payouts as arranged according to your total insurance purchase once you reach the age of 65. The interest rates should be set at 6% per year and may increase but will never decrease. This type of insurance policy will be used to offset the dwindling economy that has plagued retiree's and future retiree's.

The suggestion of this policy is different as opposed to other plans that may seem similar because of the following:  This is not long term care insurance or actual money that is only designated to be used for caregiver services or health needs in home, or in association with long term care plans as these plans are voluntary. Please note with the manditory living insurance policy you can use the monthly payouts you receive once you reach 65 for anything including rent, transportation, food, clothes medications or even extra in home care and home alterations. The manditory purchase is so that the economy will then generate money from consumers who will then have the money to spend. Thus, the economic climate will not faulter resulting from lack of savings or market crashes because the manditory living insurance policy will sustain those who have suffered from either lack of work and retirement savings.

Conclusion

The manditory living insurance policy will complete the balance of a retirement portfolio of a retirement plan and will be a continued asset for years to come when purchased as the value will never decreased and you are prohibited from borrowing against it ie. loan use. This will ensure that the money will be there when you need it the most, which is once you retire and income ceases to be generated.

Exceptions

If a policy owner should die or become terminally ill before the age of 65 upon diagnosis of illness payment will be distributed to the plan holder, based upon amount's he or she is "eligible for designated by amounts contributed" at the time of illness. For example if a person purchases a $100,000 policy and has paid the premiums for seven years and notifies the insurance company that they are terminally and will need the money to pay for bills ect. Upon investigation of request and claim the insurance company will determine  the amount the terminally ill patient will receive by the policy amount, premiums and 6% interest and the amount of time was owned ect. the terminally ill person could be paid from one fifth to almost the amount of the policy value depending on their age at time of purchase, such payouts before the age of 62 which will decrease the value of the policy. If the policy holder should die the policy is non-transferrable and cannot be used for "estate purposes". If a policy is bought by a couple and one of the owners die the remaining survivor will be entitled to the benefits as purchased by the couple. As this is a living insurance policy and will only distribute costs to whomever handles the deceased matters to cover their final expenses upon approval by the insurance company.  Such policy is set forth to cover living expenses for retired persons.

Dated: July 10, 2010   Attest: A. Sadiq                  
                                           On Behalf of Pieces

Memorandum

Scope

To develop affordable insurance plans and premiums to aid those who are seeking retirement supplements. These living insurance policies are designed to provide monthly stipends for those who enroll in these plans. Retirement and healthcare currently exist in unbalanced scale. In retirement we do know that money is fixed resulting from being unable to work to earn more. The manditory living insurance policy seeks to remedy income and accumulation by providing money one can use for anything necessary including rent, car and food.

Conflict

Most 401(k)'s and IRA plans are implemented to provide along with social security money for retirement. Since the stock market has not had considerable gain or since recovered from business losses as this has affected those who have invested for retirement. Social Security along is not enough to survive off of. Of course there is long term care insurance, but one must bear in mind that you will need two triggers or incidents regarding your health that will make you eligible to live in a place that will assist you with those needs. This means that if you are over the age of 65, you may be able to access some senior citizen services resulting from your age, but you may still not be able to qualify for use of your long term care plan regarding assisted living because you have yet to demonstrate a need in regards to mental or physical difficulty. A person with health and long term care insurance may have it but still may be healthy enough not to be able to use it.

Resolution

With the implementation of a manditory living insurance policy the retirement sector of the population will be assisted with monies for the continued use of  rent, transportation, food, clothing medications and other needs. Along with your social security, this insurance plan will sustain those during their retirement years until they are able to qualify under their long term care insurance plan, if purchased. Section 8 and medicaid are available but you then run the risk of leaving decisions about your life, health and wellbeing up to the government after working so hard to avoid being subjected to section 8 and the medicaid system.

Goal

The manditory living insurance policy is purchasable for those over 18 year and under 79 years of age. Policies start at $100,000 dollars and can be purchased in increments of $100,000. Premiums are based upon the amount of the insurance you purchased and can be bought by an individual or couple. Once purchased money cannot be withdrawn until you reach 62. If money is withdrawn for eary retirement then you may be subjected to penalities. This is to ensure adequate funds available for those who purchase a policy and retire and you are eligible to recieve monthly payouts as arranged according to your total insurance purchase once you reach the age of 65. The interest rates should be set at 6% per year and may increase but will never decrease. This type of insurance policy will be used to offset the dwindling economy that has plagued retiree's and future retiree's.

The suggestion of this policy is different as opposed to other plans that may seem similar because of the following:  This is not long term care insurance or actual money that is only designated to be used for caregiver services or health needs in home, or in association with long term care plans as these plans are voluntary. Please note with the manditory living insurance policy you can use the monthly payouts you receive once you reach 65 for anything including rent, transportation, food, clothes medications or even extra in home care and home alterations. The manditory purchase is so that the economy will then generate money from consumers who will then have the money to spend. Thus, the economic climate will not faulter resulting from lack of savings or market crashes because the manditory living insurance policy will sustain those who have suffered from either lack of work and retirement savings.

Conclusion

The manditory living insurance policy will complete the balance of a retirement portfolio of a retirement plan and will be a continued asset for years to come when purchased as the value will never decreased and you are prohibited from borrowing against it ie. loan use. This will ensure that the money will be there when you need it the most, which is once you retire and income ceases to be generated.

Exceptions

If a policy owner should die or become terminally ill before the age of 65 upon diagnosis of illness payment will be distributed to the plan holder, based upon amount's he or she is "eligible for designated by amounts contributed" at the time of illness. For example if a person purchases a $100,000 policy and has paid the premiums for seven years and notifies the insurance company that they are terminally and will need the money to pay for bills ect. Upon investigation of request and claim the insurance company will determine  the amount the terminally ill patient will receive by the policy amount, premiums and 6% interest and the amount of time was owned ect. the terminally ill person could be paid from one fifth to almost the amount of the policy value depending on their age at time of purchase, such payouts before the age of 62 which will decrease the value of the policy. If the policy holder should die the policy is non-transferrable and cannot be used for "estate purposes". If a policy is bought by a couple and one of the owners die the remaining survivor will be entitled to the benefits as purchased by the couple. As this is a living insurance policy and will only distribute costs to whomever handles the deceased matters to cover their final expenses upon approval by the insurance company.  Such policy is set forth to cover living expenses for retired persons.

Dated: July 10, 2010   Attest: A. Sadiq                  
                                           On Behalf of Pieces