Protect Your Retirement
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- Long Term Care
- Living Benefits Plans
- Annuities
- Life Settlements
Give us a call! 727-415-4558
You’ve worked your whole life for it, how do you protect it, and make it last for you and your family?
Things to consider:
How are you funding your retirement income?
How can you make it last?
Will it be enough to maintain your lifestyle?
Will your spouse continue to be supported once you’re gone?
We’re here to help you answer these questions and plan for the golden future you’re working for.
Long-Term Care(LTC)
If you need help, a home health aide alone may cost you $50,336 a year (Costs are based on 12, 30-day monthly periods at 8 hours a day). And since Medicare and health insurance may not fully cover your LTC needs, you may need to tap your personal savings. You might better leverage your money through an annuity with LTC benefits or through the living benefits of an indexed universal life policy.
Spouse Continuity
Retirement is one of the biggest and longest-term financial goals for families. If you die with a few years left to go before retirement, life insurance can help make sure that your partner gets to enjoy the life you dreamed of together.
Beyond the security of a cash payout if you die, there are a few other ways that life insurance can help support retirement:
- Life insurance riders can provide a payout if you’re still living and your retirement takes an unexpected turn. For example, the terminal illness rider pays a portion of your benefit early if you are diagnosed with a terminal illness. This can make your last few years more comfortable and less financially draining on your family.
- If you have a permanent life insurance policy, it also builds cash value that you can access if needed during your retirement. Keep in mind that borrowing from your policy without repaying the money will reduce your death benefit later.
A terminal illness rider, is a supplemental life insurance product that gives you early access to your death benefit if you’re diagnosed with a terminal illness. If you’re given a short time to live, the benefit for terminal illness rider pays out a portion of your life insurance policy while you’re still living.
So, what does an accelerated death benefit rider mean for your family? These terminal illness benefits mean you have the financial freedom to put your affairs in order, travel, pay for end-of-life care, or cover anything else you need.
Covering End-of-Life Expenses
It’s not something people like to think about, but it’s an important expense to plan for. The average cost of a funeral is more than $9,000, and the costs of medical treatment or residential care can mean even bigger bills for your family to pay.
Selling Your Policy
Have you outgrown your policy?
65 years or older | Life insurance policiy of 100k+ | Change in health
You may be able to turn your policy into cash with a life settlement.
Life Settlement
When a person no longer needs or wants their life insurance policy, they may be eligible to sell their policy.
- A life settlement refers to the sale of an existing insurance policy to a third party for a one-time cash payment.
- Payment is more than the surrender value, but less than the actual death benefit.
- The seller transfers ownership of their policy to a buyer. All aspects of ownership transfer, including the premium payments and death benefit, meaning that the original policyholder’s beneficiaries no longer receive anything upon the death of the (formerly) insured.
- Some of the reasons why people choose life settlements include retirement, unaffordable premiums, no longer needs their life policy, and emergencies.