Walk Into Retirement Financially Balanced
Why Is Life Insurance and Annuities So Important?
In most cases, the expenses gained after an accident, the death of a loved one, or a disability are beyond any savings or wealth that a person may have in their savings. It is for this reason that Life Insurance
is such an Essential
factor of your lifestyle financial planning.
Life Insurance serves with its intention to pay off debts and other expenses. In addition to providing revenue to cover everyday living expenses, your family needs Life Insurance
to cover other outstanding debts, such as the mortgage, credit cards and car loans. Other expenses may include funeral and burial costs that can run into thousands of dollars in some cases.
are eye catching to some investor because they offer the capability to build tax-deferred savings, can help to guard the money that you have already saved, and create a secure stream of income in retirement. "Life expectations are getting longer."
The scholastic explanation of an annuity is a promise by one party to make a series of payments of a precise value to another for a given period of time, or until a certain event transpire (such as the death of the person receiving the payments). As a concrete investment, annuities are retirement vehicles by nature
The main advantages annuities present are that they allow you to stock away a larger amount of cash and defer paying taxes. Unlike other tax-deferred retirement
accounts such as 401(k) s and Individual Retirement Accounts (IRAs), there is no annual contribution limit for an annuity.
Motives to Buy Life Insurance
- To Pay Final Expenses. ...
- To Cover Children's Expenses. ...
- To Replace the Spouse's Income. ...
- To Pay Off Debts. ...
- To Buy a Business Partner's Shares. ...
- To Pay Off Estate Taxes.