Product Education
Planning for the future can be overwhelming. Especially since our retirement will most likely look a LOT different than we had anticipated; depending on a nest egg just isn't enough any more. With all the uncertainty, basic concerns still exist: will I have enough money; will my family be financially secure when I am gone; will I be able to live independently for as long as possible or will I need my children to help out? That's where we come in. Take a moment to browse through some of the services we offer to lean a bit more how each one works and how they can work for you.
-Annuities -Life Insurance -Medicare -Long-Term Care -Final Expense
Annuities are intricate products by design, but if you strip away the complex terminology and noise many people use when trying to explain them, they are actually fairly straightforward.
You pay premiums to the insurance company, either in one lump sum or over a number of years. The insurance company then takes that premium and invests it to help it grow. Then a portion of the interest earned is added to the value of your account.
There are many strategies insurance companies use when investing your premiums, and you have a lot of say in how that happens.
Once your annuity has grown for a number of years, you have the option to do something quite unique. It’s called annuitization, and what that means is you tell the insurance company you want them to use the value of your account to send you checks, commonly every month, for a set period of time or the rest of your life, thats why annuities are often called 'insurace against living too long'.
The insurance company calculates how much your income payments will be, factoring in your age, the size of your account, plus some additional factors. Many people buy annuities for this reason because they like being able to rely on steady income throughout their retirement.
But some people choose not to annuitize their account and prefer to withdraw all or some of their funds to either reinvest it or take the cash and use it for other things, vacation anyone?
Neither the Company nor its agents or representatives may give tax, legal, accounting or investment advice. Individuals should consult with a professional specializing in these areas regarding the applicability of this information to his/her situation.Aviva Life & Annuity Company, Des Moines, IA
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Taxable amounts withdrawn prior to age 59½ may be subject to a 10% IRS penalty in addition to ordinary income tax. Withdrawals in excess of the free amount are subject to withdrawal charges, premium bonus recapture charges and a market value adjustment, & may result in the loss of principal if taken during the first 10 years of the contract
For more information on which type of Annuity might work best for you, contact us at 207-232-9347 or click here for an information request
No one likes to think about the end of their own life, but we all want the peace of mind knowing that our family will be taken care of when we are gone. When we die, we leave behind bills; mortgage and car payments; our paychecks stop; and these things can have devastating effects on our loved ones.
Life insurance gives your family the financial stability they’ll need when something happens to you. It helps keep them on their feet until they are able to figure out the next step.
There are different types of life insurance policies that provide solutions to various concerns. Term or whole life policies are two dynamic solutions that may suit your needs.
Whatever your needs are, we can help evaluate your situation and recommend companies that offer the best value.
Each year, Medicare beneficiaries receive the newest copy of the Medicare & You handbook in the mail. This 130+ page paperback is your official guide to the Medicare system and will answer every question you have about Medicare.
Although this handbook offers everything there is to know about Medicare, it can still be unclear as to which route is best for you. That's where we come in. We highly encourage you to come talk to us, or we can come to you! We want you to understand and are highly trained on helping you understand Medicare. Call us at 207 232-9374 or click here to contact us we will be happy to help.
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Long-term care policies come in many shapes and sizes and you have the ability to customize the plan to fit your situation and budget. Three major decisions you have to make are:
- Benefit Amount
- Elimination Period
- Inflation Protection
These three features have the greatest impact on your premium, and directly affect your overall coverage.
Benefit Amount: This is where you determine how much money you want the insurance company to pay you when you start to receive long-term care benefits. Plans typically offer e daily or monthly benefits.
The next thing you decide is how many days or months you want that benefit to be paid to you. You can usually choose a two-year option, up to a ten-year option or even lifetime.
Elimination Period: Think of this like the deductible on your health insurance; you pay the first $500 and then your insurance kicks in. The elimination period is the number of days you have to pay for long-term care services before your policy will start to pay your benefit.
Inflation Protection: Since you typically buy a long-term care policy many years before you intend to use it, it’s important to anticipate the effect inflation will have on the cost of care from the time you buy your policy to when you receive your benefit.
Call or email us to gain more information on this increasingly popular product!
The discussion about paying for final expenses is never something anyone looks forward to, and it’s even worse when you are forced into it while grieving the loss of a loved one. We know it’s hard, but the earlier you have the conversation with your loved ones about your final arrangements, the easier the whole process becomes.
Why now, not later?
- Funerals are expensive. Whether we’re talking cremation or burial, church service or ocean-side, someone is going to pay for it. Making arrangements to cover the cost of your funeral now will eliminate the potential stress and tension felt by loved ones left to figure it out on their own.
- Talking about it now gives you the opportunity to get your final wishes out there, so that your loved ones aren’t left trying to guess what you would have wanted.
- Once you get all the details figured out, you’ll never have to think about it again.
If you are still apprehensive about having this conversation with your loved ones, we can give you some tools to help make it easier.
Click here for an information request for any questions you may have on one of our products or services offered