Having life insurance provides the peace of mind that your family and your business will be protected in case of a sudden tragedy. Life insurance sets a financial plan in place to help your family pay bills, afford college, secure retirement for your spouse. There are several types of life insurances, including: Final Expense Insurance, Term Insurance, Whole Life Insurance, and Universal Life Insurance. These various life insurance plans range in affordability and in what services they provide before and after death of the insured. Talk to one of our professionals today to find out more.
There are two primary types of annuities that can be used to protect your savings and/or generate an increase in income: deferred and income annuities. For deferred annuities, there are deferred variable annuities and deferred fixed annuities. The primary difference is that variable annuities provide the opportunity for investment growth, which comes with the risk of market volatility; whereas, fixed annuities have a guaranteed rate of return based on a set timeline providing a less-risky investment. For income annuities, the two types are deferred and immediate fixed income, and they are typically most appropriate for investors and people who are nearing retirement. Deferred income annuities have a deferral time frame before the income payments start, which can mean a higher income payment. Immediate fixed income annuities later provide an income payment that is guaranteed and cannot be impacted by market changes.
INDIVIDUAL RETIREMENT PLANS
There are multiple factors that entail a need for what is called “Long-Term Care.” Factors can include old age, physical illness or injury, mental illness, an inability to perform daily functions without assistance such as bathing, dressing, eating, using the restroom, and mobility. The six daily functions are oftentimes called “Activities of Daily Living (ADLs).
Long-Term Care services can be provided in-home, at an adult care center, in an assisted living facility, and in a nursing home if it moves beyond custodial care into skilled care. And, the coverage for Long-Term Care comes in various forms, including hybrid coverage, Medicare, and private health insurance.