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Do you have a loved one that needs to be taken care of in case you pass? Let us show you diversified ways to guarantee those dear to you are financially stable if anything may happen. We are represented by licensed, knowledgeable, professionals that will show you the most beneficial plan to satisfy your needs.

Life insurance covers your family's needs in the event of your death, from funeral expenses to ongoing financial requirements. There are several forms of life insurance offering several coverage and payment options. Before you decide which works for you best, you should know the different forms of life insurance available.

Whole Life
This is the most common type of permanent insurance. The premiums for a whole life policy must be paid as scheduled in the amount indicated in the policy. These premium amounts remain constant over the life of the policy. The death benefit and cash value are guaranteed as stated in the policy if premiums are paid when due and there are no loans or withdrawals outstanding at the insured's death. Quite often dividends may be credited to this type of policy.

Term Insurance
Term insurance provides coverage for a specific period of time. It pays a benefit only if you die during the term. Some term insurance policies can be renewed when you reach the end of the specific period. Others give you the ability to reenter. The premium rates increase at each renewal date or each reentry. Many policies require that evidence of insurability be furnished at reentry for you to qualify for the lowest available rates.

Initially, premiums are generally lower than those for permanent insurance, allowing you to buy higher levels of coverage at a younger age, when the need is often the greatest.

Universal Life
This variation of permanent insurance allows you, after your initial premium payment, to pay premiums at any time, in virtually any amount, subject to certain minimums and maximums. You can also increase or reduce the amount of the death benefit more easily than under a traditional whole life policy. Typically, current interest rates are credited to the cash value in this type of policy.

Annuities are financial vehicles sold through insurance companies that can pay a higher than bank rate of interest, or a stream of income when you retire. They provide a structured way to plan for retirement and offer tax-deferred advantages on the interest you earn. Annuities can also provide immediate payout of funds, giving you a vehicle for pension funds, Traditional IRAs, SEP plans, etc.
Deferred Annuity

The return on deferred annuity contributions is tax-deferred until the annuity is cashed in or payout begins. This is a huge advantage over CDs or savings accounts. There are 2 types of deferred annuities. A single pay deferred annuity, (SPDA), starts with a deposit of $5,000 to $10,000,000 and offers a much higher than CD or bank deposit return. Flexible payment deferred annuities, (FPDA), start with a deposit of as little as $50, and contributions are made on a monthly or annual basis. The more you contribute, the more your annuity grows. If you should die before receiving annuity payouts, your named beneficiary receives the total of your contributions plus earnings in the annuity. With the stock market up and down swings, this is a great place to put your "safe" money.

Immediate Annuity
This is a single payment annuity often purchased by people who are ready to retire. It is a way to ensure an income stream from the proceeds of a pension plan, Traditional IRA or other retirement vehicle. The level of monthly income depends on the amount of time the annuity payouts are continued -- 10 years, 20 years or for the rest of your life!

Tax-Sheltered Annuity
Employees eligible to establish a Tax-Sheltered Annuity are those employees of:

Public schools, state colleges and universities
Provincial departments of education
Qualifying non-profit, tax-exempt hospitals and medical schools
Parochial schools
Religious organizations
Private colleges and universities
Foundations and charitable institutions

(The above is not intended as a comprehensive listing of eligible employees.)

Contributions to a Tax-Sheltered Annuity are not included in the employee's gross income, and are therefore not subject to federal income tax withholding. They are, however, subject to Pension tax.

Payout Options
You can schedule your payouts on a monthly, annual or other basis. You can also choose the length of time you will receive payouts.
Fixed Term Certain Payout -- you receive a payout for a specified number of years after you retire.

Life payout -- you receive a payout guaranteed for the rest of your life!
Fixed Term/Life Payout -- You receive payout for life. Should you die before the annuity pays benefits for the specified term, your beneficiary receives the same payout for the remainder of the term.

Joint Survivor Payout -- You and your spouse receive payout until one of you dies. The survivor then receives a payout for life. The payout is generally 50% to 100% of the original payout.

Contact: Insurance@fortune-financials.com

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