If we could show you a way to stay in control of your money until you take your last breath, but instead of giving that money to the government, nursing home or hospital, you could keep that money in the family for generations to come, at the very least wouldn’t you want to know how to do that?
What is an Annuity?
Annuities are contractually-executed, relatively low-risk investment products; the insured (usually, an individual) pays a life insurance company a lump-sum premium at the start of the contract. That money is to be paid back to the insured in fixed, incremental amounts, over some future time period (predetermined by the insured). The insurer invests the premium; the resulting profit/return on investment fund the payments received by the insured, and, compensate the insurer.
Conventional annuity contracts provide a predictable, guaranteed stream of future income (e.g., for retirement) until the death(s) of the beneficiaries(s) named in the contract, or, until a future termination date – whichever occurs first. These financial instruments have been used to accumulate funds and provide significant and sudden increases in personal income (via future, lump-sum withdrawals), all while legally avoiding the taxes (e.g., income-, capital gains-, estate-) that would otherwise be assessed on them.
Immediate Annuities vs. Deferred Annuities
An Immediate Annuity is an insurance policy which, in exchange for a sum of money, guarantees that the issuer will make a series of payments. These payments may be either level or increasing periodic payments for a fixed term of years or until the ending of a life or two lives, or even whichever is longer.
A Deferred Annuity is a contract that is chiefly a vehicle for accumulating savings with a view to eventually distribute them either in the manner of an immediate annuity or as a lump-sum payment
Contact us to learn more about the right annuity for you.
Asset Based Long Term Care Insurance
A hybrid annuity/long-term care product can virtually eliminate the need for a standalone LTC policy. The biggest question to buying a stand alone Long Term Care policy is, “What happens if I don’t use it?”
These are usually fixed annuities with an additional rider that costs an extra 2-3% per year. Depending on the carrier, the LTC benefits pay out for a number of months or for the rest of your life.
Some policies can even be purchased with no underwriting. What’s the downside? The extra cost of the rider is going to cut into the interest earned by the annuity, but the simplicity and savings of not needing a standalone LTC policy are often enough to more than make up for it.
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Courtesy of SafeMoney.com
In this webinar you will learn:
Contact: Jennifer Lang
Financial Services Professional
One Resource Group Agent
Life Insurance State Licences:
AR, TX, GA, VA, WA, UT, MI, OH