Life
Life Insurance has changed drastically over recent decades. It is no longer simply a legacy planning tool to make sure your family is secure when your time comes to leave this earth. With the evolution of Universal & Indexed Universal Life Insurance options, the applications of life insurance has evolved as well.
Term Insurance
A common type of life insurance is Term Life. Typically, you can elect terms from 10 years in length up to 30 or 35 years in some cases. While Term life insurance does have an “end date,” there are many conversion options available to turn your term policy into whole life if you so choose.
Common reasons to buy term insurance:
Lower Premiums than whole life
Cover your mortgage
Cover yourself until your children are adults (18+)
You’re younger and your life insurance needs may fluctuate
Whole Life Insurance
Another common type of life insurance is Whole Life. Just as the name states, this coverage lasts your whole life, unlike term insurance that has an end date. Whole life, life insurance is a great way to make sure your legacy lives on and your family is secure long after you are gone.
Common reasons to buy Whole Life:
- Leave a legacy for your loved ones
- Guaranteed Death Benefit
- Cover Burial Expenses
- Pay off debt or cover estate taxes
Universal & Indexed Universal Life Insurance
Universal and Indexed Universal Life Insurance is the most modern type of life insurance on the market. Both options have provided life insurance consumers with more flexibility, a higher return on their monies, and more features, some included and some that are electable. UL and IUL policies provide a whole new meaning and advantages to life insurance.
Common reasons to buy UL or IUL
- Flexibility (Death benefit adjustments, investment options, premiums
- Greater cash value accumulation
- Retirement Income
- No required distributions plus penalty free access to cash value
Different Possibilities For Different Situations
Everyone’s situation is different. Your goals, your needs & wants are not the same as your neighbors and that is why we would love to provide a free assessment of your situation. Determining what Life Insurance policy is best for you can provide you and your family with financial security and peace of mind so no hours of sleep are lost.
Different Possibilities For Different Situations
Everyone’s situation is different. Your goals, your needs & wants are not the same as your neighbors and that is why we would love to provide a free assessment of your situation. Determining what Life Insurance policy is best for you can provide you and your family with financial security and peace of mind so no hours of sleep are lost.
Annuities
Annuities are an integral part of retirement planning and something that needs to be considered when appropriate. Fixed and Fixed Indexed annuities can provide safe and consistent growth prior to and during retirement. With your principal being guaranteed you avoid all chances of loss and can sleep peacefully knowing your money is working for you. Two main types of annuities I have years of experience with are Fixed and Fixed Indexed Annuities.
Fixed Annuity
The most common type of true fixed annuities are called MYGA’s. Multi-Year Guaranteed Annuities are the safest and most conservative annuity on the market. You elect a time frame typically ranging from 3-10 years in length and you will have a predetermined rate that you will see a return on every year. MYGA’s are not tied to the stock market so you know exactly what you are getting year in and year out.
Common Reasons To Buy Fixed Annuities or a MYGA:
Guaranteed Return, Set Period of Time
Principal Guaranteed
Taxed Deferred Growth on Interest
Easily Understood, No Complications
Fixed Indexed Annuities
Fixed Indexed Annuities are very similar to MYGA’s in the sense that your principal is guaranteed and your money grows on a tax-deferred basis. However, Indexed annuities offer many more features than a simple fixed annuity. Typically ranging from 5-15 years, FIA’s are tied to the stock market. Generally speaking, this causes the upside potential of your earnings to be far greater in an indexed annuity than in a fixed. Indexed Annuities are often used to roll over your qualified employee plan just before retirement (401k, IRA, 403b, Roth IRA, etc) and can provide lifetime income, amongst many other things, for you during your retirement years.
Common Reasons To Buy An Indexed Annuity:
- Safe growth, more significant returns than a MYGA.
- Tax-deferred growth
- Lifetime Income
- Accelerated Benefits for Long Term Care
Importance of Both Life & Annuities
Life Insurance & Annuities are both crucial in a proper retirement plan. Making sure your retirement years are stress free with a proper income and life insurance coverage can bring you peace of mind you never imagined was possible. Your future and your families future are worth the call for a free assessment!
Importance of Both Life & Annuities
Life Insurance & Annuities are both crucial in a proper retirement plan. Making sure your retirement years are stress free with a proper income and life insurance coverage can bring you peace of mind you never imagined was possible. Your future and your families future are worth the call for a free assessment!
Receive A Free Consultation!
Randall A. Krug, LUTCF
30472 Almira
Laguna Niguel CA, 92677
Receive A Free Consultation!
Randall A. Krug, LUTCF
(949) 249-9020
30472 Almira
Laguna Niguel CA, 92677