Use Our Online Insurance and Annuity Tools and Learning Guides to assist you in preparing, deciding, and obtaining the insurance coverage and annuity products you need.
Life Insurance. Life insurance can protect your loved ones in the event of your death. It's important if you are married and even more important if you have children. There are several types of life insurance:
Term Life insurance pays a fixed amount of money to your beneficiary if you die during the term of the policy. The cost of premiums increases as you get older. Whole Life insurance is permanent insurance that provides a death benefit that is guaranteed for the insured's life as long as premiums are paid. Participating policies may pay dividends that can increase the policy's cash value but they are not guaranteed. Universal life insurance is considered a variation of whole life insurance with more flexibility. Within limits, the policy owner determines the amount and frequency of his or her premium payments and is permitted to adjust the policy face amount up or down to reflect changes in his or her needs. As premiums are paid and cash values accumulate, interest is credited to the policy's accumulation fund. Variable life insurance is similar to universal life in that there is flexibility in connection with premium payments and death benefits. However, with variable life, premium payments are held in separate accounts and the policy owner chooses how the cash value will be invested. Consequently, such a policy's cash value will fluctuate with the performance of the chosen investment portfolios.
What You Should Know About Buying Life Insurance Life Insurance is the foundation of financial security for you and your family. It protects your financial resources against the uncertainties of lie so you can plan for the future. Choosing a life insurance product is an important decision, but it can be complicated. As with any major purchase, it is important that you understand your needs and the options available to you. This guide will help you know what questions to ask when you're buying life insurance.
Health Insurance. Health coverage protects you in case of sickness or injury. Without it you run the risk of being financially wiped out by just one serious illness or accident. Most people receive subsidized health benefits through their employer, but coverage can also be purchased as an individual.
Disability Insurance. This probably one of the most overlooked forms of insurance for working-age people. Disability coverage replaces a portion of your income when you can't work because of illness or injury. Most policies replace 60% to 80% of your income. (You also may receive income from Social Security for certain disabilities, or from Workers Compensation if you are injured on the job.) If your employer provides a 60% disability policy, you might want to consider a supplemental policy covering 20% of your income. Long Term Care Insurance. Long Term Care insurance is designed to help pay for nursing home care or home health care expenses. This fast growing type of insurance can protect you and your assets against the high cost of long-term care. Most policies pay benefits when long term care is prescribed by a physician as medically necessary or when someone can no longer physically or mentally take care of basic needs. Homeowners Insurance. Homeowners coverage protects your financial investment in your home. It provides compensation for damages to your home and its contents, and it may protect you from financial liability if someone is injured on your property. The extent and amount of coverage needed depends on your situation, but if you can afford it, it is wise to insure your home for 100% of its replacement cost. Auto Insurance. Auto insurance is more than a matter of insuring your vehicle for loss or repairs after an accident. It is a financial safety net that can help you offset the cost of bodily injuries to yourself or others, lost wages due to injury, and law suits brought against you as the result of an accident. Most states require the purchase of basic coverage and then you determine the additional insurance you need.
 
Annuities. Annuities may be deferred or immediate. Both are financial contracts you make with an insurance company. However, a deferred annuity helps you accumulate money for retirement, while an immediate annuity provides you with a steady stream of retirement income in return for your money. With a deferred annuity you put money in, and over time it accrues income and interest. The payout occurs at some later date, when you receive a steady stream of payments to supplement your other income. The contributions you make to an non-qualified annuity are not tax-deductible. Contributions to a qualified annuity that is funding an IRA, 401(k), 403(b) or other qualified plan may be before tax or tax deductible. However, taxes on the earnings in the annuity are deferred until you begin receiving payments. Because annuities are generally administered by insurance companies, they can be set up to include life insurance benefits, such as a death benefit to a surviving spouse. Immediate annuities are usually purchased with one lump sum payment and then begin an immediate payout. You receive payment on a monthly or other regular basis, giving you needed income. You can generally choose to have payouts guaranteed by the issuer for as long as you live or choose form a number of other payment options. Both deferred and immediate annuities can be either fixed or variable. The issuer of a fixed annuity guarantees a fixed rate of interest (deferred) or a fixed payment (immediate). Although you are protected from any downturn in the market, you won't benefit from any upswings. A variable annuity can earn a flexible rate (deferred) or pay a variable payment (immediate) depending on the performance of the underlying investment options you choose. Variable annuities are designed to accumulate money or provide an income stream that hopefully will rise over time to keep pace with inflation. However, there is some risk involved if the market does poorly during the time your money is invested.
All About Annuities
Many people have difficulty understanding annuities, because annuities may be single or flexible-payment; fixed or variable; deferred or immediate. No matter the type, annuities are financial contracts with an insurance company that are designed to be a source of retirement income. This guide will help you decide if an annuity is right for you and help you to choose the type of annuity that best meets your needs.
Variable Annuities: What You Should Know
Before you buy a variable annuity, you should know some of the basics – and be prepared to ask your insurance agent or broker lots of questions about whether a variable annuity is right for you. This guide is a general description of variable annuities – what they are, how they work, and the charges you will pay. | 