In today’s low-interest-rate environment, there are fewer fixed income alternatives for retirees seeking income. With rates on traditional staples such as CDs and money market accounts at or near all-time lows. Fixed-income annuities are an alternative to consider for retirees seeking income and safety. The issuing insurance companies back the claims-paying ability of all annuities. Once thought of as only a standalone retirement income solution, a fixed-income annuity is now commonly recognized as one of many components of a retirement portfolio.
For people that have been diagnosed with a terminal illness or are in poor health, the idea of not having life insurance when needing it can be unsettling. For others who have a chemical dependency or have had one in the past, guaranteed issue life insurance (GI life) ignores the health risk of the dependence and provides the death benefit to their beneficiaries after the two-year waiting period. With other types of life insurance, the health risks the individuals face would be an automatic decline for coverage. Guaranteed issue life insurance may be the only life insurance available to these individuals.
What does Summer remind you of? Maybe it’s the feeling of jumping into a cool pool after a day in the summer heat, or maybe it’s the sound of the ice cream truck as you are bolting out the door with whatever change you could get your hands on. From lazy days in air conditioning to random road trips and more; summer is full of memories, and more importantly, financial choices.