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Friday, June 3, 2011 – Daily News 3A Local Calendar FRIDAY, JUNE 3 Red Bluff Bingo, doors open 5 p.m., games start 6 p.m. Red Bluff Community/Senior Center, 1500 S. Jack- son; 527-8177. Al-Anon, 6 to 7 p.m., Presbyterian Church, Jef- ferson and Hickory Bingo, doors at 5 p.m., early birds at 6 p.m. Community and Senior Center, food available Celebrate Recovery, 6:15 p.m., Vineyard Christian Fellowship, 738 Walnut St. 527-2449 Knit for Kids, 9:15 a.m. to noon, Presbyterian Church, 838 Jefferson St., 527-0372 Tehama County Education Foundation, board meeting, 7:30 a.m., County Department of Education, 1135 Lincoln St. Corning Corning High School Graduation, 8:30 p.m., Cardinal Stadium Los Molinos Los Molinos Grange, 7 p.m., Grange Hall, 68th and Singer avenues, 529=0930 FIRST SATURDAY Red Bluff BMX racing, 5:30 p.m., Red Rock BMX Track, Tehama District Fairground, $10 Red Bluff Farmer’s Market, 7 a.m.-noon, River City Park in the parking lot near the Red Bluff- Tehama County Chamber of Commerce office. Weight Watchers meeting, 8:30 a.m., Weigh-in starts half-hour before meetings, 485 Antelope Blvd., #N, next to Bud’s Jolly Kone, 1-800-651- 6000 Los Molinos Senior Dance, 7 p.m., Los Molinos Sr. Social Club, Senior Center, Josephine St. SUNDAY, JUNE 5 Red Bluff Knights of Columbus All-You-Can-Eat Breakfast, 8:30 a.m. to noon, $4 adult, $2 child or $10 family, Sacred Heart Parish Hall, 2285 Mon- roe St., 527-6310 Parks of Study and Reflection, public tour, 10:30 a.m. to noon www.redbluffpark.org WHEE Picnic and Prayer Circle, 4:20 p.m., 22116 Riverside Ave. Corning Diabetes Education Classes, 5 p.m. St. Andrews Episcopal Church, 820 Marin St., 824- 4979, free, Spanish and English Evangelist services, 7 p.m., Family Bible Church, 609 Marin St., 824-9989 MONDAY, JUNE 6 Red Bluff Red Bluff Community Band Summer Con- cert Series, 8-9 p.m., Red Bluff River Park, 527- 8744, each Monday through August Lotto numbers SACRAMENTO (AP) — The winning num- bers drawn Wednesday night in the California Lottery’s “SuperLotto Plus” game were: 1-10-15-24-45 Meganumber: 24 Obituaries ANNA MARIE PETTITT Anna Marie Pettitt passed away on Tuesday, May 10, 2011. She was born November 21, 1926 to Henry and Nellie Huff, she was 84. John and marie got married in 1946. They moved to Red Bluff in 1951. They owned the Red Hill Cafe for many years. Marie retired from the Crocker Bank after 27 years. She was active in BPW, Soroptimist, and the Baptist Church. She is survived by her children Vickie (Doug) Stewart of Riggins, Idaho, Tim (Lisa) Pettitt of Boise, Idaho, and Steve (Sherry) Pettitt of Red Bluff, CA., two grandchildren, and five great grandchildren. No services will be held in Red Bluff, CA., you may do- nate to your favorite charity to honor Marie Pettitt. Death Notice Donald DoMoe Donald DoMoe of Red Bluff died Monday, May 30, 2011 at his home. He was 79. Red Bluff Simple Cremations & Burial Service is handling the arrangements. Published Friday, June 3, 2011, in the Daily News, Red Bluff, Calif. Insurance policy could expire long before you do If you think your life insurance will last your lifetime, you may be in for a rude surprise. Many people who purchased cash-value life insurance and have been pay- ing scheduled premiums for the past 15 or 20 years are find- ing out that their policies are about to lapse! It's a potential problem with all cash-value policies that were sold as "universal" life policies. They were sold with "illustrations" of a cash buildup inside the policy to help pay future premiums. If you own term life insurance -- the kind of insurance that does not build cash value -- then this problem does not apply to you. As long as you keep making the scheduled payments, your insurance will stay in force. But many cash-value policies were sold with features that projected a growing cash buildup inside the policy -- either through illustrations of inter- est rates to be paid on that "extra" cash value or by allowing policy owners a choice of "variable," mutual fund-like investment accounts for the extra cash. It's pretty obvious that a decade of bad stock market returns would impact the cash value of those policies. But what's not so obvious is that a decade of very low interest rates could also have a devastating effect on the cash buildup inside the policy. Those projected cash accumula- tions were supposed to be used in the future to help subsidize your annual premiums. So the policies looked much more affordable to buyers because the premiums were based on planned future growth of the cash. Few people paid attention to the "minimum guaranteed" interest rate, which was often 3 percent or lower. Instead, they focused on the then-cur- rent rates of 6 percent to 8 percent. But years of subpar earnings on the cash have suddenly resulted in policies with no cash remaining to subsidize those annual premiums. Suddenly the owners receive a notice that policies will lapse -- default. Or the owners must come up with premiums that may be six times as high as the annual amount they had been paying -- just to keep the policy in force. For example, in June of 1993, Tom and Denise each purchased a $400,000 universal life insurance poli- cy, which together cost them $2,700 yearly. They chose these policies because, unlike term insurance, universal life was a per- manent solution that was sure to outlive them. They were also promised that the universal life would build cash values that would grow free of taxation and could also be tapped into to supplement their retirement free of taxation. Over the years, Tom and Denise had never missed a pay- ment on their policies. Then, one day, on the advice of a financial planner, they decided to review their life insurance coverage. To start, they contacted their insur- ance company to order an "in- force ledger statement," which would show its current funding status. They were shocked to learn pany and ask for two different docu- ments, which you should receive with- in days: 1. An in-force ledger illustration showing policy perfor- mance at the current premium. Terry Savage The Savage that even if they continued mak- ing their payments on time, Tom's policy would lapse at age 67 and Denise's at age 70 -- far below the age of 95 that they expected, and had been forecast when they pur- chased the policy. Truth on Money The cash in their policies, which was currently nearly $27,000 dollars, would be gone by the time they reached retirement age. If they wanted to continue with coverage, they would need to increase their annual payment to $19,320! Tom and Denise are not a unique case. Experts suggest that more than 75 percent of universal life policies sold in the '90s could face this problem if they did not have the "no lapse" guarantee that is now part of most cur- rent policies. Phillip Cook, a certified financial planner and registered investment adviser in California (www.cookan- dassoc.com), says he has uncovered many of these potential lapsed policies as he reviews clients' situations. "Life insurance illustrations are designed to make consumers comfort- ably numb as they continue to pay the annual premium," Cook says. "But it's important to be vigilant, just as you would be with your health. You need to get a policy checkup at least every two or three years." You don't need to go through your agent. Just contact the insurance com- Driver receives major injuries following crash Two people were taken to Mercy Medical Center in Redding following a crash at 5:45 p.m. Tuesday on Highway 36E, east of Sunriver Drive. Driver David Pokorny, 55, of Susanville, was driving east on Highway 36E when due to his level of fatigue he allowed his Ford Bronco to drift off the road and onto the dirt shoulder. Pokorny lost control of the vehicle, which hit a raised rock embankment, causing him to sustain major injuries and his passenger, Robin Pokorny, 56, also of Susanville, to receive minor injuries. The vehicle had major damage. THANK Continued from page 1A teachers encouraging us helped us to reach our dreams.” Sanchez said she was able to complete a year and a half’s worth of work in one year to be able to graduate and she is thankful for the teachers who didn’t give up on her. Martinez agreed, adding he liked how they treat- ed students as individuals. “Salisbury is for all of us a second chance that wel- comes us with open arms,” Martinez said. Samuel Baltazar and Alyssia Rogers gave the Help- ing Hands speech thanking the teachers, parents and guardians and other community members who helped them and their fellow graduates to reach their special night. “I’d like to thank the TLC’s (teachers) for their sup- port and confidence in us,” Baltazar said. “If it wasn’t for them none of us would be here and they helped make school fun.” Others recognized included Day Star Ranch, Safe Haven Horse Rescue, CalSafe employees who watch the students’ children, the Job Training Center, Elks Lodge, Kiwanis and William B. Ide Adobe State His- torical Park Staff. Scholarships were handed out to several students including the Red Bluff Joint Union High School Com- munity Scholarship, which is awarded to someone who was an asset to the community and has made a positive impact. Salisbury teacher Darbie Andrews presented the award to Genevieve Naron. Michelle Waltz was given the Renee Perez Memori- al Scholarship, which is given based off of academic achievement and someone who is pursuing further edu- cation. The John Garcia Memorial Scholarship, given in Red Bluff Simple Cremations & Burial Service Family owned & Operated Honor and Dignity 527-1732 722 Oak Street, Red Bluff, FD Lic. 1931 LIVES Continued from page 1A The Stoich awards were: Spirit of Centennial, Adalia Jade Burrell; Tenacity, Dar- ian Jodien Brockman; Keeper of the Flame, Roberto Jr. Diaz; Miss Industrious, Anna Berta Garcia; Perseverance, Jacob Daniel Maldonado; Comeback Student, Alfon- so Servin; and Helping Hands, Christian Zapata. Board President Scott 2. An in-force ledger illustration showing the amount of premium required to keep the policy in force until age 100. You need both statements because they each tell a differ- ent story. The first will show you when your policy is set to run out of cash at your present premium and interest rate assumptions. The second will tell you how much you will need to "pony up" to keep the policy in force until you die. If you want a professional analysis of your policy, get these documents and then contact insurance guru James Hunt at www.EvaluateLifeInsur- ance.org. For $85 he will appraise any existing (or proposed) life insurance policy, with subsequent policy com- parisons at a discount. Hunt is a noted consumer advocate for life insurance issues. It's better to find out the truth about your cash-value life insurance policy sooner rather than later. If you're still insurable, you might be able to trans- fer the remaining cash value into a new, more sustainable policy. Or some policies allow you to cut the face value of the insurance to keep it in force under the current premium schedule. You want your cash-value life insurance to last as long as you do. So you must check your policy now to make sure your beneficiaries will have something to collect. That's the Savage Truth. Terry Savage is a registered investment adviser and is on the board of the Chicago Mercantile Exchange. She can be reached at www.terrysavage.com. She is the author of the new book, "The New Savage Number: How Much Money Do You Really Need to Retire?" Patton presented the Daniel and Wealthy Rodger’s Scholarship award to Mal- donado and Burrell. The award will give each stu- dent $500 per year for four years of college. The graduates included 13 from Centennial High and one graduate from Corning High School Inde- pendent Study. A reception followed the ceremony where family and friends could meet with graduates and share refreshments. honor of former Salisbury Principal Dick Garcia’s father, is one given to someone who has overcome chal- lenges and faces things with determination. It was given to Alexandria Craven. Shane Humphreys presented the Ide Adobe Docent Scholarship to Samantha Bable who plans to attend Shasta College. “She is a strong leader, independent, responsible and hard working,” Humphreys said. Kiwanis Member Cody Houghton presented the Kiwanis Club of Red Bluff Scholarship, an award given to someone who is both excellent in the classroom and outside with volunteer work, to Noble. Following a slide show prepared by John Miller of all the graduates during the last year three awards were given out. Citizenship Awards, given to students who exempli- fy model students and who have gone above and beyond, were presented to Naron, her husband and fel- low graduate Tyler Naron, Jeremy Leale and Baltazar. Comeback of the Year, given to the student who made the biggest turnaround and made it through mul- tiple hardships to come back and graduate, went to Cherie Wahl. Hall of Fame, given to an individual who goes above and beyond to help make Salisbury what it is, were pre- sented to Lynn Imel and Haley Ford for their work with Class Action where students acted out cases and the Pet Project in which students worked with the animal shel- ter. TEHAMA COUNTY ABANDONED VEHICLE ABATEMENT PROGRAM Did you know you can have up to four (4) vehicles or vehicle parts removed from your property at no cost to you? Take advantage of this Countywide Clean-up Program