“Even on their limited income, my mom and dad instilled upon all of us the importance of planning for the future and the fact that tomorrow isn’t promised to anyone,” Anthony Anderson says. “I know how hard it is to lose someone you love. An accident took my brother when he was 26 and shortly after, I lost my father to diabetes, a disease I, myself, live with today. It was rough getting through those deaths, but the fact that they both had life insurance made it so much easier.”
Critical illness insurance pays you a lump-sum cash amount if you are diagnosed with any one of the critical illnesses covered by your policy, even if you make a full recovery. Disability insurance on the other hand pays you a regular payout when you’re ill or hurt and can’t work. It protects your income from the very real possibility you’ll become disabled for a period of time during your career, whether due to injury or illness.
If you are concerned about outliving your savings, perhaps an income annuity will fit your needs. An annuity can offer a guaranteed lifetime income that you can’t outlive.
Fixed income annuities are offered with a number of payment options, allowing you to structure payouts according to your financial goals and objectives. Consider these four income streams:
Did you know that it may be possible for your money and assets to be tied up in probate court—a year is not uncommon—if you were to die? That’s why it’s important to review the beneficiaries of your life insurance policies and to verify that they will be paid to a named beneficiary (a person) […]
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