Annuities & Life Insurance
Annuities & Life Insurance Information
A fixed annuity offers safety along with guarantees and many potential options. In our experience, the most common use of fixed annuities have been to accumulate funds for retirement through the power of tax deferral.
Annuities have evolved over the last several years, meaning there are a variety of features now that can offer a great benefit for you. With each person having varied needs and goals, we suggest you visit with an experienced agent so they can assist you in determining whether an annuity would be a good fit.
A licensed professional will take the time to show you the types of annuities they feel will be most beneficial for your circumstances.
There are many kinds of life insurance, but they generally fall into two categories: term insurance and permanent insurance.
Term Life Insurance
Term life insurance is designed to meet temporary needs. It provides protection for a specific period of time (the "term") and generally pays a benefit only if you die during the term. This type of insurance often makes sense when you have a need for coverage that will disappear at a specific point in time. For instance, you may decide that you only need coverage until your children graduate from college or a particular debt is paid off, such as your mortgage.
Permanent Life Insurance
In contrast, permanent insurance provides lifelong protection. As long as you pay the premiums, and no loans, withdrawals or surrenders are taken, the full face amount will be paid. Because it is designed to last a lifetime, permanent life insurance accumulates cash value and is priced for you to keep over a long period of time.