Life Insurance | Retirement Planning | ||||||||
Losing a loved one can be an emotionally devastating experience, and it can also have significant financial impact for the remaining family members. The surviving family members may face immediate expenses such as funeral costs, medical bills, and legal fees. In addition, the loss of income or financial support from the deceased loved one can cause financial strain for the family.
To lessen the financial impact of a loved one’s death, it’s important for families to plan ahead and consider options such as life insurance policies for protection.
Life insurance can be used to provide financial security for a surviving spouse in the event of the death of their partner. In addition, life insurance proceeds can be used to cover other expenses such as paying for kids college and paying off a mortgage.
Overall, life insurance can provide peace of mind and financial security for a surviving spouse and their family in the event of an unexpected death.
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Immediate & Deferred Annuities: After working for many years, most people are looking for a stable financial base that allows them to enjoy their retirement years without the fear of running out of money. Annuities are insurance company contracts that, like Social Security, can provide lifetime stable income, without all the risks of the stock market. Annuities can add stability and play a key part in a diversified retirement income plan.
Long-Term Care Protection (LTC): As we live longer, one out of every two people face the risk of needing extended skilled nursing or assistance with home care. Costs range between $5,000-$8,000 per month depending on location and type of care needed. Average stays of 1-2+ years are common, which can lead to costs in the $100,000-$250,000 range. These costs are NOT covered under Medicare and/or Medicaid, forcing many people to have to “spend down” many of the assets they have spent a life time building up in order to get “free” nursing home care. Proper LTC planning helps protect against these costs plus, depending on the plan selected, help protect more assets from Medicare spend down rules. | ||||||||
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Immediate & Deferred Annuities: After working for many years, most people are looking for a stable financial base that allows them to enjoy their retirement years without the fear of running out of money. Annuities are insurance company contracts that, like Social Security, can provide lifetime stable income, without all the risks of the stock market. Annuities can add stability and play a key part in a diversified retirement income plan.
Long-Term Care Protection (LTC): As we live longer, one out of every two people face the risk of needing extended skilled nursing or assistance with home care. Costs range between $5,000-$8,000 per month depending on location and type of care needed. Average stays of 1-2+ years are common, which can lead to costs in the $100,000-$250,000 range. These costs are NOT covered under Medicare and/or Medicaid, forcing many people to have to “spend down” many of the assets they have spent a life time building up in order to get “free” nursing home care. Proper LTC planning helps protect against these costs plus, depending on the plan selected, help protect more assets from Medicare spend down rules.
