Life Insurance

Linked-Benefit Policies

Authored by Brian Leising You have probably heard of hybrid life/long term care policies that link benefits together in one policy.  Have you sold any?  For many producers, the thought of selling long term care is a bit daunting.  Linking the living benefits to a life policy makes it easier.  A top producer recently shared four reasons his clients purchase linked-benefit policies. 1.  The additional long term care benefit makes a sure sale even better.  So many carriers offer linked-benefits that often the best-priced life policy contains a long term care provision. 2.  Clients need both products but can only afford to purchase one policy.  Clients can realize significant cost-savings when purchasing one policy rather than two. 3.  The long term care benefit provides the extra sizzle needed to close the sale.  Some people balk at paying any new premiums, but the extra benefit makes the policy more attractive. 4.  The life insurance benefit helps overcome a common long term care objection.  Clients can be sure someone will benefit from their decision.  They will receive living benefits for long term care or their heirs will receive a death benefit.
Annuities

How Can an Income Annuity Protect Against the Risk…

Authored by Matt Nutzman The purpose of an annuity is to protect against the financial risk of living too long…the risk of outliving retirement income…by providing an income guaranteed* for life. In fact, an annuity is the ONLY financial vehicle that can systematically liquidate a sum of money in such a way that income can be guaranteed* for as long as you live! Here’s How an Income Annuity Works:
  • The annuitant pays a single premium to an insurance company.
  • Beginning immediately or shortly after the single premium is paid, the insurance company pays the annuitant an income guaranteed* to continue for as long as the annuitant is alive, assuming the annuitant selects a life income option. There are other payout options also available.
  • The insurance company pays survivor benefits, if any, to the annuitant’s designated beneficiary after the annuitant’s death.
* Guarantee is based on the continued claims-paying ability of the issuing insurance company. Please contact my office if you’re interested in discussing possible income annuity solutions to the “risk of living too long.”