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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It shouldn’t come as a surprise that people with a history of illness like heart disease would have a more difficult time getting approved for life insurance than others who are healthy. But the key word here is difficult, not impossible.
If you’ve had a heart attack, knowing what to expect when you apply for term life insurance will greatly increase your chances of getting good coverage.
What do insurance providers need to know?
Once you hit 65 and retire, you don’t need life insurance, right? Not so fast! The traditional thinking about life insurance is that you only need life insurance when you have an income to protect, when you have a mortgage or when you have kids to support.
And while it’s true that having life insurance after 65 isn’t right for everyone, there are some good reasons you might want to consider it.