Life Insurance, Long Term Care & Annuities
Life Insurance
Life Insurance is a flexible tool that can be applied for a number of purposes, both personal and professional. On the personal side, you may want to protect revenue for your family or ensure a mortgage can be paid. On the business side, you may be trying to guarantee a succession plan or simply protect the value of a key employee. Additionally, certain Life policies double as an investment vehicle where you can build value while insuring a life. Life policies also have many enhancements that create even more value; e.g. disability benefits.
Common times to consider life insurance include:
- Marriage
- Growing family
- Purchase of a house
- Creation of business
- Purchase of business
- Planning for retirement
Yes, there is Term and Whole Life, however under both of those product headings are numerous variations of Life that can be used for different purposes. Let Common Loon Insurance Agency help you through the process of identifying goals and assessing which options will get you to those goals.
Annuities
Annuities are a type of life insurance that insures income. Typically, annuities are used for retirement planning and if set up correctly can guarantee income for as long as you live. Annuity companies employ various types of strategies, such as wealth accumulation or income, to help you meet your goals. Annuities also have endorsements options that can enhance your experience and help you better plan for retirement. Purchasing the right annuity can help ensure that you have appropriate funds to enjoy your retirement to the fullest. If annuities sound like a good idea, but you need help sorting through the complexities and options then you’ve come to the right place.
Long Term Care
Long term care, LTC, is a specific policy that ensures your future needs with respect to in-home care, skilled nursing care and assisted living care. LTC policies cover financial expenses related to care once you are unable to do certain basic living activities. With the average cost of in-home care being over $50,000 annually and assisted living being over $120,000 it is easy to see why planning for the expense is important. Buying an LTC policy can provide you peace of mind that when you need care, you’ll be able to get it.