Life Insurance for
Life insurance has many uses for asset protection, but one size does not fit all. Almost all insurance companies have now updated their life expectancy tables to reflect the fact that we are living longer. If a person has life insurance and the policy is more than five years old, they should absolutely have their policy reviewed by a knowledgeable insurance professional. Assuming that the applicant still has their health, there is a very good chance they may be able to dramatically increase the amount of coverage they have at no additional cost, expand their coverage to cover more risks, or simply lower their cost of their current coverage.
Planning and More
You will likely have different life insurance needs at different stages of your life. And with people working longer, customized solutions are more critical than ever. There are even new life insurance policies designed for retirement, with options for long-term care coverage, spousal protection and/or death benefit for heirs.
Here are just some of the reasons you should consider life insurance:
- Help replace your income and provide financial security for your spouse and dependents.
- Help pay final expenses.
- Create an inheritance for your heirs.
- Help pay federal, state, inheritance, and estate taxes.
- Make significant charitable contributions.
Both life Insurance as well as annuities have been an area of focus for Simon & Simon Financial for decades and we can custom-tailor a plan that helps meet all your goals and objectives. With annuities, such as fixed indexed annuities, we can help you create a plan for retirement income which can provide market protection as well as participation. We look forward to assisting you.
Indexed Annuity An indexed annuity is for retirement or other long-term financial needs. It is intended for a person who has sufficient cash or other liquid assets for living expenses and other unexpected emergencies, such as medical expenses. Guarantees provided by annuities are subject to the financial strength of the issuing company and not guaranteed by any bank or the FDIC.
Indexed annuities do not directly participate in any stock or equity investment. Clients who purchase indexed annuities are not directly investing in the financial market. Market indices may not include dividends paid on the underlying stocks and therefore may not reflect the total return of the underlying stocks; neither a market index nor any indexed annuity is comparable to a direct investment in the financial markets.
Life Insurance Several factors will affect the cost and availability of life insurance, including age, health, and the type and amount of insurance purchased. Life insurance policies have expenses, including mortality and other charges. If a policy is surrendered prematurely, the policyholder also may pay surrender charges and have income tax implications. You should consider determining whether you are insurable before implementing a strategy involving life insurance. Any guarantees associated with a policy are dependent on the ability of the issuing insurance company to continue making claim payments.