When do senior citizens not need life insurance?

Size: px
Start display at page:

Download "When do senior citizens not need life insurance?"

Transcription

1 From: Tony Steuer Subject: When do senior citizens not need life insurance? InsuranceQuotes.com Date: March 5, :41:45 AM PST To: Tony Steuer When do senior citizens not need life insurance? Aaron Crowe For retirees who no longer work, having life insurance that was meant to replace their income if they died can be a waste of money. If they don t have a salary to replace, the reasoning goes, why keep hanging on to your life insurance? Life insurance is very attractive emotionally, says Tony Steuer, a life insurance author and consultant in Alameda, Calif. Estate planning seminars geared toward selling insurance play on those emotions, even when a senior with a good retirement plan may not need life insurance, he says. However, there are situations when seniors should have life insurance, experts say. One of the top reasons: Life insurance death benefits generally are tax-free, while payouts from retirement plans are taxable. People start looking at the tax benefits, and that s where the insurance companies are pushing, Steuer says. Here are six instances when seniors most likely

2 do not need life insurance. 1. The funeral is covered. If you re worried about burdening your spouse or family members with this cost and you already have enough money to pay for it, life insurance isn t needed. 2. You ve got $100,000 set aside. Other than a funeral, other costs pile up after someone has died, such as medical bills and taxes. Diana Scheel, a financial adviser with Sapient Financial Group in San Antonio, recommends that her elderly clients squirrel away $50,000 to $100,000 for such expenses so they won t need life insurance. Having assets such as a retirement fund, stock portfolio or hefty savings account can make a life insurance policy unnecessary. A life insurance policy can be partially cashed out while retaining some of the death benefits. 3. The kids are gone. If your children have moved out of the house and you don t have to support them anymore, you don t need to pay life insurance premiums, says Kevin Lynch, a professor of insurance at The American College in Pennsylvania. Consider getting rid of the coverage if supporting your kids is no longer a priority, he says. You can find better uses for that money, such as covering daily expenses or saving for health care. 4. You live alone or are very old. Not having heirs to worry about makes life insurance easy to forget. The same goes if you re single or divorced, insurance attorney Frank Darras says. Darras cites the case of his 103-year-old neighbor, whose wife died in May He s outlived everybody, Darras says. If he had life insurance, it s a great time to sell it. 5. The cash value and death benefit of a policy are almost equal. Whole life insurance policies which remain in effect for a policyholder s whole life and require premium payments each year accumulate a cash value over time. If the amount of the cash value and the death benefit are almost equal, it s smart to cash out the policy

3 and take the money now, says Jean Dorrell, a financial adviser who founded Senior Financial Security in Florida. Doing that won t leave your heirs with a death benefit, though. Borrowing against the cash value of a life insurance policy is a good way to avoid taxes while obtaining some money now, Dorrell says. The policyholder s heirs won t have to pay the loan back or pay interest, she says, because the amount of the loan will be subtracted from any death benefits. 6. You have long-term care insurance. If you re planning to tap your life insurance to pay for your care in your golden years, that may be the wrong approach. The problem is you re paying for life insurance costs when what you really need is long-term care insurance, Steuer says. Long-term care insurance goes beyond health insurance in paying for assistance with basic daily activities, such as dressing, bathing and cooking. Q: Why should I get long-term care insurance? What are the benefits for me and my family? A: Long-term care insurance helps protect you, your family and your property from the potential of catastrophic medical costs. You have worked long and hard for your assets and independent lifestyle. Long-term care insurance allows you to have peace of mind, knowing you can relieve the potential burden of your care from your loved ones, and can choose the care that will best suit your needs. Before getting long-term care insurance, it is best to ask: Am I going to need long-term care insurance? What are the risks involved to me and my family if I don t obtain a policy? Am I at risk of needing assistance with daily activities at some point in the future? Is it possible that I ll need to go into an institutional setting, such as a rehabilitation, assisted living or nursing facility? Can I afford the insurance? Can I afford not to have the insurance? Only by investigating the various insurance providers and comparing the available policies would you be able to answer these questions.

4 Long-term care insurance pays for long-term care services. Policies vary as to what they offer and what they cover. They require that all applicants qualify for coverage before a policy is issued. Most companies have underwriting guidelines and could reject your application. There is variance among long-term care insurance companies, so if one rejects you, you may fall under the guidelines of another company. Also, it s wise to investigate getting a policy early in life. The younger and healthier you are, the lower the premiums. During your investigation, keep in mind that you want the right coverage from the right company. Look for companies that have been around for a long time, are responsible with their pricing and have a track record of stability. The company should be able to answer all of your questions completely and demonstrate a commitment to you and your family. Always ask hard questions such as: What is covered in the policy? Will the premiums rise? Can I get coverage that accounts for cost-of-living increases? Will I be paying out of pocket first, then receiving reimbursements from the company? Or does company pay the bills directly? What will trigger my need to use long-term care insurance, and what will the waiting period be for the policy benefits take effect? A good long-term care insurance company and its agents will work with you to make sure the policy you re considering will fit your needs and your family s needs and will fall within your budget. There s always the hope that you ll never need a long-term care insurance policy, but having a policy gives you the peace of mind that in the event of a catastrophe, you, your family and your property are protected. Dr. Marion Somers, Ph.D., has more than 40 years of experience as a geriatric care manager and caregiver, and as an author, speaker and teacher regarding elder care and other elder issues. With the senior generation living longer than ever before, Dr. Marion believes we are on the verge of an elder care tsunami. After decades of working directly with seniors and their caregivers, Dr. Mari-

5 on launched a public effort to provide practical tools, solutions and advice to those struggling with caring for our aging population. She is the author of Elder Care Made Easier: Doctor Marion s 10 Steps to Help You Care for an Aging Loved One and creator of two iphone apps: Elder411 and Elder911. For more information, visit Tony Steuer, CLU Life Insurance Analyst # Ansel Avenue, Alameda, CA (510) , Author - "Questions and Answers on Life Insurance" - Connect: Google+: https://gplus.to/tonysteuer,

LIFE INSURANCE STRATEGY GUIDE

LIFE INSURANCE STRATEGY GUIDE LIFE INSURANCE 101 STRATEGY GUIDE : STRATEGY GUIDE TABLE OF CONTENTS Why You May Need Life Insurance... 5 Shopping for Life Insurance... 5 How Much Life Insurance to Obtain... 6 Calculating Total Funds

More information

We keep our promises.

We keep our promises. We keep our promises. So you can keep yours. It s a selfless act. The decision you make today is for someone else s future. Purchasing life insurance is about more than just planning for the future. It

More information

Beyond Savings: Six Alternatives to Financing Your Senior Care & Assisted Living

Beyond Savings: Six Alternatives to Financing Your Senior Care & Assisted Living Beyond Savings: Six Alternatives to Financing Your Senior Care & Assisted Living About SeniorAdvisor.com SeniorAdvisor.com is the leading site that provides easy access to the information families need

More information

Your helpful life insurance guide: Buying a home

Your helpful life insurance guide: Buying a home Your helpful life insurance guide: Buying a home 1 When it comes to buying a home, you may not realize that having life insurance is an important part of the process. Amica Life is here to help answer

More information

Deciphering Life Insurance Options: How Choosing the Right Policy Can Help Safeguard Your Earning Potential and Savings

Deciphering Life Insurance Options: How Choosing the Right Policy Can Help Safeguard Your Earning Potential and Savings How Choosing the Right Policy Can Help Safeguard Your Earning Potential and Savings 1 Many people think of life insurance as something they ll need when they get a bit older and want to ensure their loved

More information

4-Step Guide to Life Insurance

4-Step Guide to Life Insurance TIAA-CREF Life Insurance Company 4-Step Guide to Life Insurance Our promise to help you protect what matters most At TIAA-CREF, we understand the need for life insurance our promise is to help you make

More information

CREATE TAX ADVANTAGED RETIREMENT INCOME YOU CAN T OUTLIVE. create tax advantaged retirement income you can t outlive

CREATE TAX ADVANTAGED RETIREMENT INCOME YOU CAN T OUTLIVE. create tax advantaged retirement income you can t outlive create tax advantaged retirement income you can t outlive 1 Table Of Contents Insurance Companies Don t Just Sell Insurance... 4 Life Insurance Investing... 5 Guarantees... 7 Tax Strategy How to Get Tax-Free

More information

Annuity Owner Mistakes

Annuity Owner Mistakes Annuity Owner Mistakes Tips and Ideas That Could Save You Thousands Provided to you by: William E. Watson III, RFC Registered Financial Consultant Annuity Owner Mistakes Written by Javelin Marketing, Inc.

More information

Purpose Driven Life Insurance

Purpose Driven Life Insurance Purpose Driven Life Insurance American National Insurance Company Galveston, TX Has someone ever called you on the phone and tried to sell you life insurance or another product without knowing anything

More information

Your helpful life insurance guide: Raising a family

Your helpful life insurance guide: Raising a family Your helpful life insurance guide: Raising a family Being a parent is one of life s greatest joys. As your family grows, it s essential to have enough life insurance protection in place to help ensure

More information

Protecting Your Loved Ones Every Step of the Way

Protecting Your Loved Ones Every Step of the Way Protecting Your Loved Ones Every Step of the Way Gerber Life Insurance Company Gerber Life Insurance Company, White Plains, NY 10605 5/10/2011 Gerber Life Insurance Company is a financially separate affiliate

More information

What you need to know about life insurance

What you need to know about life insurance What you need to know about life insurance Chances are, you need L ife insurance is a simple answer to a very difficult question: How will my family manage financially when I die? It s a subject no one

More information

Your helpful life insurance guide: Empty nesting

Your helpful life insurance guide: Empty nesting Your helpful life insurance guide: Empty nesting As your kids grow up and leave the house, life insurance should still be a part of your plan going forward. Amica Life can help you determine if you have

More information

A CONSUMER S GUIDE TO LONG-TERM CARE INSURANCE PROTECTION. A WOMAN S GUIDE TO Long-TermCare. Insurance. Practical Planning Information For Women

A CONSUMER S GUIDE TO LONG-TERM CARE INSURANCE PROTECTION. A WOMAN S GUIDE TO Long-TermCare. Insurance. Practical Planning Information For Women A CONSUMER S GUIDE TO LONG-TERM CARE INSURANCE PROTECTION A WOMAN S GUIDE TO Long-TermCare Insurance Protection Practical Planning Information For Women Women with Spouses or Partners or Women Living Alone

More information

What you need to know about life insurance

What you need to know about life insurance What you need to know about life insurance Special Advertising Section ife insurance is a simple answer to a very difficult question: How will my family manage financially when I die? It s a subject no

More information

Life Insurance Made Easy The basics on buying Life Insurance

Life Insurance Made Easy The basics on buying Life Insurance Life Insurance Made Easy The basics on buying Life Insurance Introduction Hi There! Before you begin reading, I d like to take the time out to truly thank you for downloading this guide. There is A LOT

More information

Our perspective on universal life insurance. Protect and maximize your legacy. Client Guide. Universal Life Insurance

Our perspective on universal life insurance. Protect and maximize your legacy. Client Guide. Universal Life Insurance Universal Life Insurance Our perspective on universal life insurance Protect and maximize your legacy The Lincoln National Life Insurance Company Lincoln Life & Annuity Company of New York Not a deposit

More information

Guaranteed Protection Universal Life. Discover What s Possible

Guaranteed Protection Universal Life. Discover What s Possible Guaranteed Protection Universal Life Discover What s Possible Guaranteed Protection Universal Life Peace of mind for you, protection for your heirs As the center of a sound financial plan, permanent life

More information

What You Should Know About Long Term Care. Answers to the most commonly asked questions from the Indiana Long Term Care Insurance Program

What You Should Know About Long Term Care. Answers to the most commonly asked questions from the Indiana Long Term Care Insurance Program What You Should Know About Long Term Care Answers to the most commonly asked questions from the Indiana Long Term Care Insurance Program What You Should Know About Long Term Care The Indiana Long Term

More information

What You Should Know About Long Term Care. Answers to the most commonly asked questions from the Indiana Long Term Care Insurance Program

What You Should Know About Long Term Care. Answers to the most commonly asked questions from the Indiana Long Term Care Insurance Program What You Should Know About Long Term Care Answers to the most commonly asked questions from the Indiana Long Term Care Insurance Program What You Should Know About Long Term Care The Indiana Long Term

More information

An extra layer of protection

An extra layer of protection State of Florida Group Term Life Insurance Program for Employees Action Required An extra layer of protection m A Securian Company Dear New Employee, As a new employee of the State of Florida, you have

More information

50+ Life insurance. An affordable solution with many advantages

50+ Life insurance. An affordable solution with many advantages 50+ Life insurance An affordable solution with many advantages If you think it s too late to take out life insurance, keep reading! Just because you re over 50 doesn t mean it s too late to take out life

More information

Chapter 12. Life Insurance: An Introduction. Chapter 12 Learning Objectives. Life Insurance

Chapter 12. Life Insurance: An Introduction. Chapter 12 Learning Objectives. Life Insurance Chapter 12 Life Insurance McGraw-Hill/Irwin Copyright 2012 by The McGraw-Hill Companies, Inc. All rights reserved. 12-1 Chapter 12 Learning Objectives 1. Define Life insurance and describe its purpose

More information

1-800-555-5555. 800-818-2946 www.com

1-800-555-5555. 800-818-2946 www.com Call our our Senior Senior Helpline Call Helplinetoday: today: 1-800-555-5555 800-818-2946 www.com Advisor: Stuart Hindemit Please consult with your tax advisor. Borrower must continue to pay for property

More information

The Best Way to Buy, Sell, or Replace Your Life Insurance

The Best Way to Buy, Sell, or Replace Your Life Insurance The Best Way to Buy, Sell, or Replace Your Life Insurance Provided to you by: Jessie B Jarmon Consultant The Best Way to Buy, Sell, or Replace Your Life Insurance Written by Financial Educators Provided

More information

YOUR PRODUCT GUIDE. Making it easier to protect what matters most in life. Nationwide YourLife Guaranteed Level Term

YOUR PRODUCT GUIDE. Making it easier to protect what matters most in life. Nationwide YourLife Guaranteed Level Term YOUR PRODUCT GUIDE Making it easier to protect what matters most in life. Nationwide YourLife Guaranteed Level Term Life s complicated. Protecting it shouldn t be. There are so many things competing for

More information

Life insurance is a simple answer to a very difficult question:

Life insurance is a simple answer to a very difficult question: Chances are, you need life insurance Life insurance is a simple answer to a very difficult question: How will my family manage financially when I die? It s a subject no one really wants to think about.

More information

Preserve what you spent a lifetime creating

Preserve what you spent a lifetime creating An Overview Guide for Consumers Preserve what you spent a lifetime creating A look at MassMutual Survivorship Whole Life insurance Insurance Strategies Contents 1 Life insurance that works as hard as you

More information

Live Today. Secure Tomorrow.

Live Today. Secure Tomorrow. Live Today. Secure Tomorrow. Single Premium Indexed Universal Life Insurance Policy Issued by Fidelity & Guaranty Life Insurance Company, Baltimore, MD 12-381 Expecting the Unexpected Just because the

More information

TMAIT Insurance Guides for Physicians. Life Insurance

TMAIT Insurance Guides for Physicians. Life Insurance TMAIT Insurance Guides for Physicians Life Insurance TMAIT Insurance Guides The TMAIT Insurance Guides are intended to help physicians make sound insurance decisions for themselves and their families.

More information

An extra layer of protection

An extra layer of protection State of Florida Group Term Life Insurance Program for Employees Action Required An extra layer of protection m A Securian Company Dear New Employee, As a new employee of the State of Florida, you have

More information

5 BEST-KEPT SECRETS to Financing Senior Care U.S. EDITION

5 BEST-KEPT SECRETS to Financing Senior Care U.S. EDITION 5 BEST-KEPT SECRETS to Financing Senior Care U.S. EDITION 5 Best-Kept Secrets Thank you for contacting A Place for Mom. We hope you find this guide to be a helpful resource as you consider options for

More information

Universal Life. What is it and who is it for?

Universal Life. What is it and who is it for? In this discussion we feature a debate examining the features and the structures of whole life insurance contracts and universal life life insurance contracts... Universal Life What is it and who is it

More information

10 Things You Need to Know About Buying Life Insurance

10 Things You Need to Know About Buying Life Insurance 10 Things You Need to Know About Buying Life Insurance 10 Things You Need to Know About Buying Life Insurance 01 We never know what life has in store. Life insurance is a simple answer to a very difficult

More information

Long Term Care Insurance

Long Term Care Insurance Long Term Care Insurance Long Term Care Insurance Stay in charge if you enter a state of dependency By opting for Long Term Care Insurance, you receive tax-free monthly benefits if you are unable to perform

More information

Innovative, flexible, low-cost retirement solution

Innovative, flexible, low-cost retirement solution TIAA-CREF Life Insurance Company Innovative, flexible, low-cost retirement solution The Intelligent Variable Annuity How do you define retirement? Some people dream of traveling. Others can t wait to roll

More information

plain talk about life insurance The right life insurance can have an enormous effect on your life and the lives of those you love.

plain talk about life insurance The right life insurance can have an enormous effect on your life and the lives of those you love. plain talk about life insurance The right life insurance can have an enormous effect on your life and the lives of those you love. Thinking about life insurance? You re not alone. Canadians generally agree

More information

Insurance. Survivorship Life. Insurance. The Company You Keep

Insurance. Survivorship Life. Insurance. The Company You Keep Insurance Survivorship Life Insurance The Company You Keep Permanent Life Insurance Protection for Two People You ve built a legacy, but who will be the recipients your heirs or the IRS? 1 Now is the time

More information

Discover What s Possible

Discover What s Possible Discover What s Possible Guaranteed Choice SM Whole Life Guaranteed Choice SM Whole Life for Individuals and Families There is comfort in predictability There s a certain comfort that comes with knowing

More information

Annuity Owner Mistakes Tips and Ideas That Could Save You Thousands

Annuity Owner Mistakes Tips and Ideas That Could Save You Thousands Annuity Owner Mistakes Tips and Ideas That Could Save You Thousands Provided to you by: Eric J Malloy CRPC Annuity Owner Mistakes Written by Financial Educators Provided to you by Eric J Malloy CRPC 2

More information

Life Insurance with BenefitAccess Rider A CHRONIC AND TERMINAL ILLNESS RIDER THAT GIVES YOU FREEDOM, CHOICE, AND CONTROL

Life Insurance with BenefitAccess Rider A CHRONIC AND TERMINAL ILLNESS RIDER THAT GIVES YOU FREEDOM, CHOICE, AND CONTROL Life Insurance with BenefitAccess Rider A CHRONIC AND TERMINAL ILLNESS RIDER THAT GIVES YOU FREEDOM, CHOICE, AND CONTROL This brochure must be accompanied or preceded by a product brochure. Issued by Pruco

More information

What You Should Know About Buying. Life Insurance

What You Should Know About Buying. Life Insurance What You Should Know About Buying Life Insurance Life insurance is the foundation of financial security for you and your family. It protects your financial resources against the uncertainties of life so

More information

Understanding fixed index universal life insurance

Understanding fixed index universal life insurance Allianz Life Insurance Company of North America Understanding fixed index universal life insurance Protection, wealth accumulation potential, and tax advantages in one policy M-3959 Understanding fixed

More information

A Woman s Guide to Life Insurance

A Woman s Guide to Life Insurance protecting your future A Woman s Guide to Life Insurance CAC.6357 (03.13) TODAY I realized how valuable I am. You are valuable. You insure your house, your car, your jewelry, and your health, right? But

More information

Maximize Your Pension with Life Insurance

Maximize Your Pension with Life Insurance Maximize Your Pension with Life Insurance How Death Benefit Protection Can Help You Get the Most Out of Your Pension Benefits Client Brochure Achieve financial protection while maximizing your pension

More information

SALARY SAVER Protect your income, protect yourself. MetLife Individual Disability Income Insurance.

SALARY SAVER Protect your income, protect yourself. MetLife Individual Disability Income Insurance. Disability Insurance Disability Income With MetLife Individual Disability Income Insurance, you re protected no matter what the weather. SALARY SAVER Protect your income, protect yourself. MetLife Individual

More information

adaptable for life. TERMSelect Term Insurance This TERMSelect client guide is meant to do three things for you:

adaptable for life. TERMSelect Term Insurance This TERMSelect client guide is meant to do three things for you: TERMSelect Term Insurance adaptable for life. You re thinking about insurance protection now, for your family or your business. You need to know that the coverage you buy today can adapt to the changes

More information

What you know about life insurance

What you know about life insurance What you need to know about life insurance This piece has been reproduced with the permission of Life Happens, a nonprofit organization dedicated to helping consumers make smart insurance decisions to

More information

Essentials of Estate Planning

Essentials of Estate Planning Essentials of Estate Planning LIFE INSURANCE These materials are not intended to be used to avoid tax penalties, and were prepared to support the promotion or marketing of the matter addressed in this

More information

Income For Life Introduction

Income For Life Introduction Income For Life Introduction If you are like most Americans, you ve worked hard your entire life to create a standard of living for yourself that you wish to maintain for years to come. You have probably

More information

How Much Life Insurance Do You Need?

How Much Life Insurance Do You Need? RON GRAHAM AND ASSOCIATES LTD. 10585 111 Street NW, Edmonton, Alberta, T5M 0L7 Telephone (780) 429-6775 Facsimile (780) 424-0004 Email rgraham@rgafinancial.com How Much Life Insurance Do You Need? In Canada,

More information

4794-00A-MAR15. Product Brochure

4794-00A-MAR15. Product Brochure 4794-00A-MAR15 Product Brochure ParPlus & ParPlus Junior Assumption Life, one of the few remaining mutual life insurance companies in Canada, is proud to offer its latest participating life insurance products

More information

Flexible protection to help meet a lifetime of needs

Flexible protection to help meet a lifetime of needs TIAA-CREF Life Insurance Company Flexible protection to help meet a lifetime of needs Intelligent Life Universal Life Insurance and Intelligent Life Survivorship Universal Life Insurance Designed to meet

More information

20 Ways to Reduce and Effectively Use Insurance Premiums

20 Ways to Reduce and Effectively Use Insurance Premiums Free Review: Compliments of YourBusinessLibrary.com For Your Individual Use Only The Business Library Resource Report #41 20 Ways to Reduce and Effectively Use Insurance Premiums Getting the Most Bang

More information

Term Life vs. Permanent Life Insurance

Term Life vs. Permanent Life Insurance Term Life vs. Permanent Life Insurance Should I Buy Term or Permanent? A widow doesn t ask What kind of insurance was it - Whole Life, Universal Life or Term? She asks How much do I have to raise my family?

More information

Annuity Owner Mistakes Tips and Ideas That Could Save You Thousands

Annuity Owner Mistakes Tips and Ideas That Could Save You Thousands Annuity Owner Mistakes Tips and Ideas That Could Save You Thousands Provided to you by: Milton D. Flanagan ChFC, CLU, CASL, MBA Annuity Owner Mistakes Written by Financial Educators Provided to you by

More information

WHAT YOU SHOULD KNOW. About Buying Life Insurance. Life insurance is financial protection. It provides the

WHAT YOU SHOULD KNOW. About Buying Life Insurance. Life insurance is financial protection. It provides the Life insurance is financial protection. It provides the resources your family may need to pay immediate and continuing expenses after you die. WHAT YOU SHOULD KNOW About Buying Life Insurance There are

More information

UNIVERSAL LIFE INSURANCE YOUR 5-MINUTE GUIDE. Flexible protection for what s most important in life

UNIVERSAL LIFE INSURANCE YOUR 5-MINUTE GUIDE. Flexible protection for what s most important in life UNIVERSAL LIFE INSURANCE YOUR 5-MINUTE GUIDE Flexible protection for what s most important in life Protection for all the moments that matter Be sure to choose a product that meets long-term life insurance

More information

There s more to insurance than you expect.

There s more to insurance than you expect. There s more to insurance than you expect. And you can bank on that. Life has a way of throwing things at you, some expected, others not so much. Whatever the case may be and no matter the situation, permanent,

More information

Your helpful life insurance guide: Shopping for life insurance

Your helpful life insurance guide: Shopping for life insurance Your helpful life insurance guide: Shopping for life insurance When it comes to shopping for life insurance, you may need help making an informed decision. At Amica Life, we believe helpfulness is what

More information

The. Estate Planner. Powers of attorney: Springing vs. nonspringing. Watch out for GST taxes. Retirement ahead?

The. Estate Planner. Powers of attorney: Springing vs. nonspringing. Watch out for GST taxes. Retirement ahead? The Estate Planner May/June 2015 Powers of attorney: Springing vs. nonspringing Watch out for GST taxes Retirement ahead? Choosing the right pension plan payout option requires planning Estate Planning

More information

Retirement. Financial Defense With Life Insurance. Many people don t think they will need B R O K E R W O R L D M A G A Z I N E

Retirement. Financial Defense With Life Insurance. Many people don t think they will need B R O K E R W O R L D M A G A Z I N E Retirement PETER L. McCARTHY JD, CLU, ChFC, is a senior advanced sales consultant for ING U.S. Insurance Solutions. He has more than 20 years of experience in advanced marketing and practiced law as an

More information

Life Insurance. Single Premium Life Insurance

Life Insurance. Single Premium Life Insurance Life Insurance Life insurance provides cash for many important expenses to help survivors deal with a number of pressing financial issues after the loss of a loved one. Proceeds from a life insurance policy

More information

Life insurance. Shedding light on. a practical guide to helping you achieve a lifetime of financial security

Life insurance. Shedding light on. a practical guide to helping you achieve a lifetime of financial security Shedding light on Life insurance a practical guide to helping you achieve a lifetime of financial security Learn more about: Safeguarding your loved ones Protecting your future Ensuring your dreams live

More information

Life Insurance as an Asset Class: A Predictable Asset for Unpredictable Times

Life Insurance as an Asset Class: A Predictable Asset for Unpredictable Times Life Insurance as an Asset Class: A Predictable Asset for Unpredictable Times This material is not intended to be used to avoid tax penalties. It was prepared to support the promotion or marketing of the

More information

Jonathan Pond s Quick Guide for SBLI Customers Why it Might be a Smart Move to Convert Your Term Insurance to Whole Life Coverage

Jonathan Pond s Quick Guide for SBLI Customers Why it Might be a Smart Move to Convert Your Term Insurance to Whole Life Coverage Jonathan Pond s Quick Guide for SBLI Customers Why it Might be a Smart Move to Convert Your Term Insurance to Whole Life Coverage Courtesy of 1-888-GET-SBLI www.sbli.com I encourage you to speak with your

More information

The Pennsylvania Insurance Department s. Your Guide to Long-Term Care. Insurance

The Pennsylvania Insurance Department s. Your Guide to Long-Term Care. Insurance Your Guide to Long-Term Care Insurance When you re in the prime of life, it s hard to imagine being unable to do the basic activities of daily living because of age or disability. But the reality is that

More information

Managing mortality risk with life insurance diversification

Managing mortality risk with life insurance diversification Managing mortality risk with life insurance diversification Diversification is an important strategy for mitigating investment loss by selectively combining noncorrelated assets in an investment portfolio.

More information

Paying for Assisted Living

Paying for Assisted Living Paying for Assisted Living A Guide for Seniors and Loved Ones the STRATFORD at Maple Leaf the STRATFORD at Maple Leaf http://stratfordretirement.com 9001 Lake City Way Northeast Seattle, WA 98115 (206)

More information

Passing on the Good Stuff! Implementing a Roth IRA Conversion Using Life Insurance

Passing on the Good Stuff! Implementing a Roth IRA Conversion Using Life Insurance Passing on the Good Stuff! Implementing a Roth IRA Conversion Using Life Insurance Passing On The Good Stuff! All inheritances aren t equal. Even two different assets that are worth similar amounts may

More information

A Shopper s Guide to

A Shopper s Guide to A Shopper s Guide to LONG-TERM CARE INSURANCE NAIC National Association of Insurance Commissioners A Shopper s Guide to LONG-TERM CARE INSURANCE NAIC National Association of Insurance Commissioners About

More information

Long-Term Care Insurance

Long-Term Care Insurance Mutual of Omaha Insurance Company Long-Term Care Insurance Independence. Family relationships. Financial freedom. A long-term care insurance policy can help protect what s important to you. MC31916_0805

More information

Now is the right time to take control of your future. An Informative Brochure by Standard Life and Accident Insurance Company PB-PORT02R07

Now is the right time to take control of your future. An Informative Brochure by Standard Life and Accident Insurance Company PB-PORT02R07 Now is the right time to take control of your future. An Informative Brochure by Standard Life and Accident Insurance Company PB-PORT02R07 Plan Well, Live Well, Retire Well Standard Life and Accident Insurance

More information

What You Should Know About Buying. Life Insurance

What You Should Know About Buying. Life Insurance What You Should Know About Buying Life Insurance Life insurance is the foundation of financial security for you and your family. It protects your financial resources against the uncertainties of life so

More information

Taking Control of Your Pension Income

Taking Control of Your Pension Income Taking Control of Your Pension Income A Retirement Income Protection Review 2012 VSA, LP Valid only if used prior to January 1, 2013. The information, general principles and conclusions presented in this

More information

Maximizing Your Pension with Life Insurance

Maximizing Your Pension with Life Insurance Maximizing Your Pension with Life Insurance Introduction If you participate in a traditional pension plan (known as a defined benefit plan) with your employer, you may receive monthly benefits from the

More information

long-term care insurance

long-term care insurance long-term care insurance from new york life insurance company 336897CV (CA) 1 Are you ready to live a long life? Planning to live means making a plan a sound retirement strategy that addresses the risks

More information

SENTINEL SECURITY LIFE INSURANCE COMPANY PO Box 65478 Salt Lake City, Utah 84165 Phone: 1-800-247-1423

SENTINEL SECURITY LIFE INSURANCE COMPANY PO Box 65478 Salt Lake City, Utah 84165 Phone: 1-800-247-1423 SENTINEL SECURITY LIFE INSURANCE COMPANY PO Box 65478 Salt Lake City, Utah 84165 Phone: 1-800-247-1423 Annuity Disclosure Statement for Single Premium Deferred Annuity PERSONAL CHOICE ANNUITY SSLANPOL11-TX

More information

Do You Have the Right Life Insurance?

Do You Have the Right Life Insurance? Do You Have the Right Life Insurance? Having adequate life insurance should be an important part of your financial planning. The type(s) you choose will depend on your needs and goals. Life insurance was

More information

TOP 10 REASONS YOU SHOULD NOT GET A REVERSE MORTGAGE NOW!

TOP 10 REASONS YOU SHOULD NOT GET A REVERSE MORTGAGE NOW! What our Clients are saying about their Reverse Mortgage My house needed a new roof, windows, flooring and paint, inside and out. WSB never abandoned me when even I wanted to just give up. It would have

More information

First it is important that you understand some basic concepts regarding insurance:

First it is important that you understand some basic concepts regarding insurance: I nsurance is the area in most people s finances that they spend the most amount of money on but they understand the least. The average American family spends $2,000 to $5,000 per year on insurance. Outside

More information

The Simple Banking System

The Simple Banking System The Simple Banking System An easy to understand guide on using Permanent Life Insurance to maximize finances By Joshua Thompson Table of Contents Segment 1: The Big Picture... Page 03 Segment 2: The Bottom

More information

KANSAS CITY LIFE INSURANCE COMPANY. Cashback Life. Return of Premium Life Insurance

KANSAS CITY LIFE INSURANCE COMPANY. Cashback Life. Return of Premium Life Insurance KANSAS CITY LIFE INSURANCE COMPANY Cashback Life Return of Premium Life Insurance Like most smart consumers you know life insurance is one of the best ways to ensure your family s dreams are protected.

More information

What You should Know. About Buying Life Insurance. Life insurance protects your financial future. It provides

What You should Know. About Buying Life Insurance. Life insurance protects your financial future. It provides Life insurance protects your financial future. It provides the resources your family or business may need to pay immediate and continuing expenses when you die. What You should Know About Buying Life Insurance

More information

YOU. WHO S IN CHARGE? Cigna Choice Fund Health Savings Account (HSA)

YOU. WHO S IN CHARGE? Cigna Choice Fund Health Savings Account (HSA) Cigna Choice Fund Health Savings Account (HSA) WHO S IN CHARGE? YOU. Offered by: Connecticut General Life Insurance Company or Cigna Health and Life Insurance Company. 858455 a 05/13 THAT MEANS YOU SHOULD

More information

Long Term Care Insurance SAMPLE ICC14-364

Long Term Care Insurance SAMPLE ICC14-364 Long Term Care Insurance COVER Shield PROTECT DEFEND ICC14-364 Planning for your long term care needs is a smart and important decision. By doing so, you are able to decide how to reduce the impact a long

More information

-17-5. Life Insurance: What to Look For

-17-5. Life Insurance: What to Look For -17-5. Life Insurance: What to Look For Have you ever thought about buying life insurance? Have you ever puzzled about whether you needed it and if you did, how much to buy? Or what kind? Or how to compare

More information

Unum Whole Life. Voluntary Whole Life Insurance. Whole Life Insurance Features

Unum Whole Life. Voluntary Whole Life Insurance. Whole Life Insurance Features Unum Whole Life Voluntary Whole Life Insurance Whole Life Insurance Features Whole life provides an additional source of financial protection for your working years and provides options for your retirement.

More information

Indexed Survivor Universal Life

Indexed Survivor Universal Life Indexed Survivor Universal Life Protecting your estate... 15888 7/10 Indexed Survivor Universal Life Building wealth has always been about more than living the good life. The estate you ve amassed through

More information

A 3-Step Guide to. Long-Term Care Planning

A 3-Step Guide to. Long-Term Care Planning Understanding the risks AVOIDING Mistakes 1 2 3 reducing your costs A 3-Step Guide to smarter Long-Term Care Planning The time to prepare is now The need for long-term care is one of the biggest financial

More information

What to Consider When Faced With the Pension Election Decision

What to Consider When Faced With the Pension Election Decision PENSION ELECTION Key Information About Your Pension (Optional Forms of Benefits) Pension Math and Factors to Consider Pension Maximization What Happens if Your Company Files for Bankruptcy and Your Company

More information

YOUR GUIDE TO. Understanding life insurance

YOUR GUIDE TO. Understanding life insurance YOUR GUIDE TO Understanding Making life less complicated. Most people know that can provide their families with a death benefit if the unexpected should happen. But they may not know that it can also be

More information

Life insurance. Shedding light on A PRACTICAL GUIDE TO HELPING YOU ACHIEVE A LIFETIME OF FINANCIAL SECURITY. Life s brighter under the sun

Life insurance. Shedding light on A PRACTICAL GUIDE TO HELPING YOU ACHIEVE A LIFETIME OF FINANCIAL SECURITY. Life s brighter under the sun Shedding light on Life insurance A PRACTICAL GUIDE TO HELPING YOU ACHIEVE A LIFETIME OF FINANCIAL SECURITY LEARN MORE ABOUT: Safeguarding your loved ones Protecting your future Ensuring your dreams live

More information

Transferring wealth Effective strategies for the typical Canadian

Transferring wealth Effective strategies for the typical Canadian Transferring wealth Effective strategies for the typical Canadian KEEPING IT IN THE FAMILY You ve worked a lifetime to accumulate assets. In fact, the average Canadian family has amassed total personal

More information

Sales Ideas. Long-Term Care. Tips for Turning Needs and Concerns into Sales. Mutual of Omaha Insurance Company

Sales Ideas. Long-Term Care. Tips for Turning Needs and Concerns into Sales. Mutual of Omaha Insurance Company Mutual of Omaha Insurance Company Long-Term Care Sales Ideas Tips for Turning Needs and Concerns into Sales M28712 Sales Ideas Ever wonder how to find people to talk to or how to begin a conversation about

More information

USA Reverse. Learn the Facts about Reverse Mortgages. Danny Glover - Human Rights Activist

USA Reverse. Learn the Facts about Reverse Mortgages. Danny Glover - Human Rights Activist Learn the Facts about Reverse Mortgages Danny Glover - Human Rights Activist Single-purpose Reverse Mortgages Single-purpose reverse mortgages are the least expensive option. They re offered by some state

More information

Caring for longer than a lifetime

Caring for longer than a lifetime Life insurance Caring for longer than a lifetime Your 5-minute Guide Life goes on prepare for it Your love for your family will live forever. However, we all know we won t live forever. Life insurance

More information

Making Loans and Gifts to Family Members Last update: January 14, 2015

Making Loans and Gifts to Family Members Last update: January 14, 2015 Summary Making Loans and Gifts to Family Members Last update: January 14, 2015 Loans to family members can sometimes be of financial benefit to both parties. Gifts also can be a blessing to both giver

More information

Lincoln MoneyGuard Reserve

Lincoln MoneyGuard Reserve Lincoln MoneyGuard Reserve Yours today for tomorrow Helps you pay for if you need it Provides an income tax-free death benefit if you don t Offered with a money back guarantee A way to help protect your

More information