Term Life

Term life policies are temporary and are only in effect for a certain number of years. Living benefits can be added to term policies for added protection. The premiums are lower than permanent policies, however, typically increase significantly if the insured decides to keep the policy after the term ends. The death benefit is paid to the beneficiary tax free.

Permanent Life

A permanent policy coverage is for the entire lifetime of the insured. A properly structured policy can build great cash value accumulation with downside protections, as well as living benefits for added protection. Cash value distributions and death benefit are paid tax free. Plus, cash value from a properly structured policy is not reported as taxable income.

Long Term Care

Long term care can be purchased as a stand alone policy or a hybrid when added to a permanent policy. When you add LTC to a permanent policy and do not need to use the benefit, you’re still protected and the beneficiary receives the tax-free death benefit. If you have a stand alone LTC policy and never use benefits, you run the risk of losing there premiums paid into the policy.

Final Expense

A final expense policy is a way to take care of funeral expenses without being a financial burden to grieving family members. A concierge plan assists your family search for prices, arrange for transportation services, and can be paid out within 24 hours. Other benefits may include will preparation services and important document storage for easy access by loved ones.

Annuities

Don’t have a pension! An annuity is a great way to have guaranteed income in retirement. Some annuities pay out bonuses, increasing your face value, and you can structure the payout the way you desire. There are several types of annuities but the most common is a Fixed Indexed Annuity. With a FIU, you’re money is not tied into the market. Rather, your investments gains are mirrored to an Index and you have downside protection – meaning no losses due to market risk.