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Insurance with a Heart DEGREE of HONOR PUBLICATION FALL 2015 VOL. 118 ISSUE 215 Special Focus Information and inspiration for todays caregivers INSIDE How to capture family memories and address sensitive topics Do you need life insurance A quick guide Take our caregiving survey and enter to win a 50 gift card In this issue were exploring the role of caregivers something thats close to the heart of our Degree of Honor community. Caring for others is part of our collective DNA. Things like providing insurance coverage for our families helping others through our service clubs and offering college scholarships all help make Degree of Honor a strong and vibrant community. Caregiving is a critical issue today. According to the National Alliance for Caregiving nearly 20 percent of Americans serve as unpaid caregivers. That equates to 43.5 million people who provide care for their parents children with special needs other family members or friends. And the situation wont change anytime soon. Americans aged 85 and older are the fastest-growing segment of our countrys population and every day another 10000 baby boomers turn 65. In the last issue of Honor I noted that weve been asking key questions about the future of Degree of Honor. One of those involves caregivers and how we can better support their needs and the needs of their families. As I noted our community has always been about caring for others. How might we deepen and extend our support for members who serve as caregivers What are your experiences needs and ideas around caregiving Please share your caregiving perspective through our member survey on the inside back cover or online at degreeofhonor.comcaregivingsurvey2015. Youll also find articles on caregiving in this issue that were inspirational to us. We hope they are for you as well. And if you have a caregiver in your life please take a moment to honor and support him or her. Take Good Care FALL 2015 Meet Kristin Evenson Were delighted to introduce Kristin Evenson who recently joined Degree of Honor as our new director of Marketing Strategy Communications. Kristin has an ideal background for the role. She has extensive experience working with organizations to lead and implement strategic plans marketing communications and brand development initiatives and much more. As one of her duties she has stepped up as the editor of Honor and shes quickly proven herself to be an invaluable addition. Were very lucky to have her on our team Hello Until next time DEGREE OF HONOR BOARD OF DIRECTORS Board members clockwise from far lower left Jeff Little Dennis Peterson chair Kris Hamann Paul Dominski Sylvia Soeth Kari Niedfeldt-Thomas Lisa Flanary Laureen Jansky Gloria Collett NOTICE TO MEMBERS Degree of Honor Protective Association is a national fraternal life insurance society serving its members through life insurance products as well as community service activities carried out through a network of service clubs. The Association was founded in 1886 and is licensed in 23 states. Every policyholder is a member in the Association. Lisa Flanary is the Associations chief executive officer and Kristin Evenson is editor of Honor ISSN 0898-5243 published by Degree of Honor in March June September and December. Periodicals are paid at St. Paul MN and additional mailing offices. POSTMASTER Send address changes to Degree of Honor Protective Association 287 W Lafayette Frontage Rd Ste 200 PO Box 7420 Saint Paul MN 55107-0420 Printed in the USA. TABLE OF CONTENTS Volume 118 Issue 215 Is there a particular feature or topic youd like to see in the magazine Send us an email at yourvoicedegreeofhonor.com or send a letter to Editor Degree of Honor Protective Association 287 W Lafayette Frontage Rd Ste 200 PO Box 7420 Saint Paul MN 55107-0420. COLUMNS AND FEATURES CEOs Note................................................... Inside front cover Caregiving by the Numbers......................................................... 2 Life Insurance Who Needs It...................................................... 3 Why Insure Your Kids................................................................... 4 Degree of Honor Scholarship Winners........................................ 5 Bridging the Divide with Aging Parents...................................... 6 Degree of Honor Community Service Clubs............................... 8 Caregiving Survey.......................................... Inside back cover 8 4 1degreeofhonor.com Fall 2015 HONOR In many ways caregivers are the backbone of our country. Who qualifies as a caregiver Someone who has provided unpaid care to a relative or friend to help them care for themselves andor to a child because of a medical behavioral or other condition or disability. They devote time and attention and they often make personal and financial sacrifices to ensure their loved ones receive the care they need. By nearly any measure its an honorable and selfless pursuit. CAREGIVING IN THE U.S. BY THE NUMBERS Heres a look at our nations unpaid caregiver population 43.5 million Total number of caregivers Care for an adult only Care for both an adult and child Care for a child only 303880 38 Have full- or part-time jobs in addition to their caregiving responsibilities 59 6.5 million 3.7 million 60Parents of children with special needs who dont expect their child to ever gain financial independence Roughly 1 in 5 adults is in an unpaid caregiving role Have reduced or stopped saving for their own futures to cover caregiving expenses 82Parents of children with special needs who say they need help making financial plans for their childs future The average financial cost to caregivers in terms of lost wages savings retirement and Social Security benefits Sources National Alliance for Caregiving AARP Public Policy Institute MetLife Study of Caregiving Costs University of Minnesota Needs Assessment 33.3 million 2 HONOR Fall 2015 800.947.5812 A big part of caring for your loved ones is considering the impact if something were to happen to you. If they would suffer financially chances are you need life insurance. The benefits would help your family cover funeral costs daily living expenses college funding and more. To help illustrate how life insurance might apply to your situation check out these scenarios. Youre married with or without children Some couples assume they dont need life insurance until they have children. But what if one of you died tomorrow Would the surviving spouses income be enough to pay off a mortgage or cover monthly bills And if you have children could your family continue its standard of living on your spouses income alone Youre a single parent Single parents play multiple roles breadwinner cook chauffeur and much more. Despite that nearly four in 10 single parents have no life insurance.1 Given the level of responsibility that comes with being a single parent its particularly important to have enough life insurance to safeguard your childrens financial and educational future. You have grown children What about when your kids have graduated from college and the mortgage has been paid off Again it doesnt necessarily mean that you no longer need life insurance. If you died today your spouse would still face daily living expenses. Would your financial plan without life insurance enable your spouse to maintain his or her current lifestyle into retirement Youre retired Depending on the size of your estate your heirs could be hit with an estate tax payment of up to 45 percent after you die. Because life insurance proceeds are payable immediately proper coverage will allow them to cover those taxes along with your funeral costs and other debts. And if structured properly life insurance proceeds are generally income tax free and wont add to your estate tax liability. Youre single Many single people dont purchase life insurance because no one depends on them financially. That said there is more to consider. For instance you could be carrying significant debt that you dont want to pass on to family members. Additionally you may not be single forever and buying life insurance is considerably more cost-effective when youre young and healthy. Youll not only be rewarded with the assurance that you are covered in the event of your death but may also benefit from lower insurance rates. Youre a small business owner Life insurance can also protect your business. For instance a policy can be structured to fund a buy-sell agreement if you or one of your fellow owners passes away. Doing so ensures the remaining owners have the funds to buy the company interests at a previously agreed upon price. That way the owners get the business and the beneficiary gets the money. To protect a business in case of the death of a key employee key person insurance payable to the company provides owners with the financial flexibility needed to hire a replacement or work out an alternative arrangement. Life Insurance Who Needs ItA quick guide to help you make the right decision Life Insurance for Caregivers Caregivers offer a unique case when it comes to insurance. Nearly a quarter of them have provided care to for example an aging parent or child with special needs for more than five years.2 If youre a caregiver what will happen to them if something happens to you Life insurance might be worth looking into as a way to ensure your loved ones continue to receive the attention they need. Help at Hand Degree of Honor offers a range of life insurance solutions. To find out more go to degreeofhonor.comproducts or contact Michelle Alberg at 651.228.7600 or 800.947.5812. Sources 1 lifehappens.org 2 Caregiving in the U.S. 2015 Report 3degreeofhonor.com Fall 2015 HONOR Why Insure Your KidsProtect your children with the benefits of life insurance. Its natural for those with family or loved ones to want life insurance as financial protection. But children may benefit from life insurance too. Childrens Term Life Insurance This type of policy is typically available for children from infancy and until adulthood. The coverage stays in effect until the child reaches his or her mid-20s. While specific policies will differ most provide a range of coverage amounts and premium options. And most are cost-effective. If you buy term life insurance for children when theyre young and healthy the premiums will generally be low. A couple things to consider A childrens term life insurance policy can guarantee insurability into the future. If the premiums are paid in full that will ensure the policy cant be taken away for any reason even if the child is injured or contracts a serious illness. Another is flexibility. Some policies can be converted to permanent life insurance once the child reaches a certain age most often in his or her mid-20s. Some policies even offer beneficiaries the chance to add or purchase additional coverage. Degree of Honor offers a childrens term life insurance policy. To learn more go to degreeofhonor.comjust-for-kids or contact us at 651.228.7600 or 800.947.5812. 4 HONOR Fall 2015 800.947.5812 The leaves are falling the air is cooling and young people across the country are starting a new school year. Among those eager students are the latest recipients of Degree of Honor scholarships. All high school seniors who have been insured with Degree of Honor for a minimum of two years are eligible to apply for a higher education scholarship. Scholarships are awarded annually in the spring. While this years scholarship recipients have different interests and goals they all share one thing a commitment to strengthening their communities. Read on for inspiring quotes from their application essays. Head of the ClassDegree of Honor celebrates a new group of scholarship winners. To learn more about Degree of Honors scholarship programs visit degreeofhonor.comcommunity-2Scholarships. I am studying finance as well as minoring in mathematics and Spanish. I am considering pursuing a career as a financial advisor which is ideal because I would be able to continue working with people and play an important role in their personal finances especially those seeking assistance in retirement planning. Ryan Backstrom I aspire to become an anesthesiologist to help save and improve peoples lives. Someday I know I will make a difference in our world one patient at a time. Stacie Skaff I am working toward a double major of communications and political science with a minor in religion. Studying these areas at a liberal arts college will allow me to encoun- ter many facets of the world thus enabling me to make a difference. Lydia Yahnkee The key factor for making a difference is the surrender of an individual to God. The reason I am studying music and missions points back to my making that decision in the ninth grade. That choice has birthed a vision to go to another country build a church and educate the nationals to reach their own people. The education I am receiving enables me to help others by giv- ing them Gods Word the only means by which peoples lives can be permanently changed for the better. Stephen Minion I do not know exactly what lies before me in my future service experiences. I may wind up working with a large group of people or with a single family. I could be working in Wisconsin or Panama. Wherever I go and whatever I do I will be able to make connections and friendships and make a difference in the lives of individuals who need it most. Anne Drewes Anne Drewes Benjamin Stolee Emma Groom Jacob Gangelhoff Kelly Reynolds Lydia Yahnkee Olivia Thimjon Ryan Backstrom Sean Molenda Stacie Skaff Stephen Minion Thomas Kocis 5degreeofhonor.com Fall 2015 HONOR Its rarely too early and never too late to have a good talk with your aging parents or other family members. In fact that talk is really a series of conversations a sharing of vital stories. You can learn about for instance your mothers high school years. About your fathers favorite boyhood recollections. About their parents and siblings. This sort of sharing can be a delightful experience for everyone. Just as importantly it can also help you initiate critical discussions with your family members as they age. Here are some key topics it might be time to discuss Money. Particularly if theyre showing signs of forgetfulness it may be time for you or a financial advisor to manage their checkbooks and financial instruments. Moving. Physical aging may require moving to a smaller home. An assisted living facility might be necessary. Their wishes. Some family members will freely discuss such topics as end-of-life care funeral arrangements and estate planning. Others simply wont want to touch them. BRIDGING THE DIVIDEWith compassion and patience you can capture a lifetime of memories with your aging family members and also address sensitive topics. 6 HONOR Fall 2015 800.947.5812 Some of these arent easy topics to broach. So how do you discuss them Here are some tips Be sensitive. This seems obvious but if the conversation gets heated its easy to give in to feelings of self-justification and even anger. Dont do it. And be tactful. Often being a little indirect or simply acknowledging that these discussions are difficult for all of you can help smooth over tense topics. Listen. Dont push your agenda. Give them plenty of space to express their concerns fears and experiences. This is a conversation adult to adult. Dont try to cover everything at once. Dont push to get everything settled. If you or your parents are tiring or if the tension starts to come to a boil its time to pause. Youve planted the seed. Finally End each conversation on a positive note. Even if theres been tension make sure you express your gratitude love and respect. That might not smooth over everything but it could make your parents more likely to keep the conversation going. 7degreeofhonor.com Fall 2015 HONOR In the last issue of Honor we featured a story on Heart for Montanas upcoming fall formal for teens with special needs. The service club is partnering with fellow community and church members to host the event which theyve named Shine. Shine will be held on September 25 at the Faith Chapel church of Billings Montana. During the festivities family members and caregivers accompanying the guests will be treated to refreshments at a special on-site Caregivers Retreat. Club members Vicky Jensen and her husband Bruce a Degree of Honor agent are pleased to report that preparations for the event are nearing completion. Plans are coming along well Vicky says adding that anticipation among the teens is also high. The excitement of the guests with having their own special dance is so fulfilling. Vicky a regular Special Olympics volunteer was inspired to create Shine by a moment of serendipity. Several years ago I was sent a link to a website about a similar dance hosted by another church she recalls. I thought I would love to do it but it seemed like a pipe dream. Then this past year God worked in my heart and told me This is the time. Heart for Montana is taking the original idea one step further with the addition of the Caregivers Retreat. Vicky sees the retreat as an opportunity to lavish attention on the adults whose pure gratitude is one of her favorite parts of volunteering with youth and their families. Heart for Montana plans to move forward with one of its other goals helping others form service clubs after the formal. Stay tuned for more news from this active and enthusiastic club Shine On The Heart for Montanas upcoming event will honor teens with special needs and their caregivers. On August 1 Degree of Honor members banded together to support Ronald McDonald House Charities RMHC of Southern West Virginia. To aid the families that the Charleston-based Ronald McDonald House serves volunteers filled diaper bags with hundreds of dollars worth of baby supplies cleaning materials and more. The event was sponsored by the West Virginia Degree of Honor state officers. The Charleston RMHC and the Home Office service club partnered on the event along with service clubs from the cities of Elkins Beckley and Hinton West Virginia. Degree of Honor CEO Lisa Flanary and Community Service and Sales Manager Michelle Alberg were on hand for the event which also served as one of the West Virginia members regular meetings. The event is part of a longstanding tradition Degree of Honor and RMHC have been partners since 2001. Were tremendously grateful for the support says Dewayne Dickens executive director of RMHC of Southern West Virginia. It means a lot to our organization and to the many families that we serve each year. The people at RMHC were tickled to death to receive the materials says Sharon Daniel-Norman a long-time Degree of Honor member. We pretty much filled up their stockroom with the supplies. It really does your heart good to help out such a worthy charity and Im proud that Degree of Honor has such a strong relationship with RMHC. Service Matters Members and staff gather for a project supporting Ronald McDonald House Charities in West Virginia. DEGREE OF HONOR COMMUNITY SERVICE CLUBS Our clubs serve local communities. Theyve also partnered with Ronald McDonald House Charities since 2001 and the Salvation Army since 1993. Vicky and Bruce Jensen Degree of Honor volunteers filling bags. Degree of Honor CEO Lisa Flanary left with Sue Huffman president of the West Virginia service clubs. 8 HONOR Fall 2015 800.947.5812 PLEASE TELL US ABOUT YOUR CAREGIVING EXPERIENCE Tell us your thoughts and qualify to win a 50 Visa gift card As Lisa Flanary noted in her editorial 43.5 million Americans have critical and typically unrecognized roles in society. They provide unpaid care to relatives friends or children because of medical behavioral or other conditions or disability. Degree of Honor is working to better understand where and how caregiving exists in our member base and how to deepen our relationships with caregivers. To accomplish that we need your help. Please take a moment to fill out this survey which focuses on the caregiving experience. When complete please mail the survey to us at Degree of Honor Protective Association 287 W Lafayette Frontage Rd Ste 200 PO Box 7420 Saint Paul MN 55107-0420 Attn Caregiving Survey You can also take the survey online at degreeofhonor.comcaregivingsurvey2015 1. To whom do you provide care Parent Child with special needs Other relative Friendacquaintance 2. How long have you been serving as a caregiver Less than one year 15 years 610 years 10 years or more 3. Was this a role you came to by choice or unexpectedly By choice Unexpectedly 4. Do you work outside the home in addition to your caregiving duties Yes No 5. If you do work outside the home is it a full- or part-time job Full-time Part-time 6. How many hours per week do you dedicate exclusively to the needs of the person you care for Less than five 610 1115 15 or more 7. Does providing care affect your ability to work outside the home andor the hours you work Yes No 8. What people resources or organizations have been helpful to you in your role _______________________________________________ _______________________________________________ _______________________________________________ 9. What other resources would be helpful to you or what needs are still unmet _______________________________________________ _______________________________________________ _______________________________________________ 10. Do you feel that providing care has put a strain on you financially Yes No 11. Which statement below most accurately describes your general attitude toward providing care Extremely rewarding Sometimes challenging Occasionally rewarding Often challenging Rarely rewarding Always challenging 12. What do you find most challenging about caregiving _______________________________________________ _______________________________________________ _______________________________________________ 13. What do you find most rewarding _______________________________________________ _______________________________________________ _______________________________________________ 14. When you think about the future what concerns do you hold for the person youre caring for andor for yourself _______________________________________________ _______________________________________________ _______________________________________________ 15. Would you be willing to share more about your experience with us at Degree of Honor as we learn more about caregiving Yes No 16. If you answered YES to Question 15 please provide us with your contact information First name________________ Last name______________ Email address__________________ Phone number__________________ No purchase or payment of any kind is necessary to enter or win the contest. Void where prohibited or restricted by law. Official Contest Rules can be found on our website at degreeofhonor.comcaregivingsurvey2015. 287 W Lafayette Frontage Rd Ste 200 PO Box 7420 Saint Paul MN 55107-0420 Find Out More Go to our website at degreeofhonor.com send us an email at yourvoicedegreeofhonor.com or call us at us at 651.228.7600 or 800.947.5812. We are a national fraternal life insurance society with roots that stretch back to our founding in 1886. But we are also quite different from ordinary insurance companies. Our Mission We were founded on Christian principles that underlie our core values of faith family country and community. Our mission is twofold We help keep families financially secure by offering affordable life insurance and we are chartered as a member organization to help people in need insured members social members their families and communities. Community That idea of community is particularly important to us. We support a wide range of community service activities that are carried out through a network of service clubs around the U.S. We also have longstanding partnerships with the Salvation Army and Ronald McDonald House Charities. Wed love to hear from you What is Degree of Honor