How Life Insurance Annuities Can Benefit Families Currently, more than 35% of Americans feel they can’t afford a life insurance policy. Thankfully, there are many ways to make life insurance a reality for you and your loved ones, especially if you want to save on the associated premium costs. If you want to protect your family’s future, you shouldn’t let money stand between protecting the ones you love and financial disruption. Understanding the Basics of Life Insurance Several factors go into the overall premium rate calculation when you look into a life insurance policy. The younger and healthier you are, the lower your rate will be. Most insurance companies look into your gender, various health questions, lab work, medical exam results, marital status, lifestyle, location, and marital status. Term vs. Permanent Life If you have been in the life insurance market, you have probably seen the phrases term life, whole life, and even permanent life. Shopping for life insurance can be confusing, but it doesn’t have to be. The main differences between term and permanent life insurance are when benefits pay, features, and whether or not the policy builds value that may be borrowed against. Term insurance will pay beneficiaries if the policyholder dies during the length of their active policy (up until 95 years of age). This type of life insurance policy also has no value at the end of the term. On the other hand, permanent life pays beneficiaries regardless of when the policyholder dies (as long as the policy is still valid). It includes a savings feature alongside the death benefit. Additionally, the policy builds up a value you can borrow against, invest, and even withdraw. Buying What You Need Once you understand the type of policy you want, it’s time to determine what you need. By calculating your current debt, living expenses, and final expenses, you better understand your budget capabilities. Then, you can go a step further to include college tuition and other future costs your family may face without you. Understanding your current income sources is essential to ensure you can afford your insurance premium. Opting for Life Insurance Annuities Investment products, such as annuities, serve as an excellent solution to life insurance needs. Life insurance annuities ensure your loved ones are guaranteed a specific annual income amount until the annuity expires or the annuitant’s death. A beneficiary may choose to receive death benefits as annuities, converting the payout spread over a set number of years. Life insurance annuities may come as fixed-period annuities (specific income) and lifetime annuities. A fixed-period annuity only pays out for 10 to 20 years. Lifetime annuities, on the other hand, pay beneficiaries until they die. Considering the longer payment timeline, younger individuals have more to gain from choosing lifetime annuities. However, older individuals benefit most from fixed-period annuities to receive the total amount owed. Why do You Need a Life Insurance Policy? No one expects an untimely death, but life insurance policies are more valuable than ever when you have a family to support. Life insurance policies provide peace of mind, especially in the form of replacement income, covering final expenses, paying for burial, transferring wealth, or leaving an inheritance. Benefits such as these are significant when covering the loss of primary household earners. Ultimately, a life insurance policy could mean the difference between the financial ruin of the loved ones left behind and ensuring they can live on without a financial burden.
Contact Information:
Email: [email protected]
Phone: 3234811328
Bio:
For over 13 years, Jason Anderson has served as a Personal Financial Advisor, Estate and Retirement Planner, helping to educate individuals from all walks of life and income levels on wise money investment and planning for a comfortable lifestyle and retirement.Over time, Jason Anderson has become the ‘Go-To’ leading authority on personal financial advising, financial planning, and analysis, as well as retirement planning and financial planning for SMALL BUSINESS OWNERS. He also provides HIGHLY Popular financial education seminars for groups. These financial seminars empower people to more effectively budget, plan, manage their money, and achieve their personal financial goals. As a result of the excellent results, praise, and feedback that their financial seminars have received, the City of Los Angeles, The AFL-CIO union groups, as well as several other organizations, have decided to partner with Jason to more effectively accomplish their mission. He was also honored to be showcased in the November 2014 issue of Forbes Magazine “Americas Financial Leaders” and has been dubbed by the media as ‘The Financial Educator.’Jason is passionate about the work he does because it brings him joy to help his financial planning and advising clients reach their financial goals. He finds excitement in assisting families in saving and paying for their children’s college education without stress, thanks to the financial plans he designs for them. He also takes pride in witnessing clients reach retirement and enjoy it precisely the way they desire.Personally, Jason finds joy in being a husband and father of two wonderful children. In his spare time, he enjoys traveling, sports, hiking, and reading.He works with Employees, Business Professionals, Business Owners, and ‘High Net Worth’ People.â–º Like to discuss your personal financial situation?☠Call Jason at (323) 481-1328 for a FREE Consultation✉ Email him at [email protected]
Disclosure:
All annuity and life insurance products are designed to supplement securities as part of an overall plan. The recommendation of annuities and life insurance is not designed to eliminate the need for securities in any way.
