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Life Insurance

Annuities

I heard it through the Grapevine that I should have Life Insurance. Why?

Very simply, life insurance can protect your family, dependents, business and legacy.

Consider this…

  • Life is unpredictable.

    Dying suddenly — in an accident, by unexpected illness or even of natural causes — can happen at any time. Life insurance helps your loved ones pay the mortgage, bills, even college costs, after you’re gone. It also provides tax-free cash to pay estate and death duties. Nothing can replace you in their hearts, but planning ahead with life insurance can make things easier for those you leave behind.

  • Burial costs are expensive.

    In some cases, upwards of $7,000 to $10,000 — and we’re not talking about extravagant funeral services. This is the average cost of a burial ceremony that will be faced by your loved ones. At an already difficult and emotional time, your life insurance can cover these expenses without financial hardship or further stress.

  • Help those you love.

    In your life, you work hard to make sure those you love — spouse, partner, children, family members — are taken care of. It’s just as important to consider providing financial support for the future living costs of surviving dependents. After all, they will have to go on without you. Make sure they’re protected, too.

  • Relieve Debt.

    Life Insurance can help your dependents cover any financial responsibilities that are left after your death. Debt can be a tremendous burden, on top of the already emotional toll your absence creates in their lives.

  • Prepare for the unexpected.

    If you develop a serious illness, you may not be able to get life insurance to the extent you need it — or at all. If you have a terminal illness, life insurance can provide you with financial support. Life insurance can also be used in case of emergencies by requesting a withdrawal or loan.

  • Protect your business.

    Life Insurance isn’t just for individuals. It can protect a business from financial loss, liabilities or instability in the case of the death of a business owner/partner. Whether providing necessary short-term cash or keeping operations going until things settle, life insurance can be invaluable in maintaining the business you’ve worked so hard to build.

  • Enhance your retirement.

    You can use life insurance to make sure your retirement savings lasts as long as you do. An annuity is like a do-it-yourself pension plan — you put an amount of money into a life insurance product and in return you get a guaranteed stream of income month after month, for as long as you live.

  • Strengthen your finances.

    Life insurance is considered a financial asset, which can help increase your credit and help you to get a loan or health insurance. Many policies have cash value, which even in case of bankruptcy cannot be touched by creditors.

  • Give to charity.

    Life Insurance can enable you to leave a lasting gift to a favorite cause or charity that is much larger than you would otherwise set aside for donation.

  • Gain peace of mind.

    No amount of money can ever replace a person. But more than anything, life insurance can help provide protection for the uncertainties in life.


Annuities

WHAT DO YOU WANT YOUR RETIREMENT TO LOOK LIKE?

Do you want to find new passions, spend more time with family and friends, volunteer or travel?

Have you considered augmenting your retirement income with an annuity? Sure, you have social security and you may have savings in your IRA or a pension from an employer, but is it enough to live the life you desire?

A retirement annuity can help you accumulate assets and provide multiple options for taking retirement income – including the option to receive a steady stream of guaranteed income for life – so you can make the most of your well-deserved retirement years.

Unlike other retirement options, annuities are not subject to IRS contribution limits (although certain contracts may have a maximum limit) – a good fit if you’ve maxed out your 401(k) or other retirement vehicles.

Ready to learn more?

Contact Grapevine Insurance to help you choose the annuity product that is suited to helping you reach your retirement income goals.

Contact us for more information:

Income now or income later?

The type of annuity you choose should partially be based on when you want to begin receiving payments. An Advisor can help you choose the annuity product that is suited to helping you reach your retirement income goals.

Income now

Immediate annuities

An immediate annuity offers the opportunity to generate a guaranteed stream of income, starting within a year after purchase.

Your initial lump sum of money is converted into a series of income payments, at a frequency of your choosing: monthly, quarterly, semi-annually or annually. It’s an easy way to generate a guaranteed source of income to meet your routine expenses, or to assure that your retirement savings last as long as you do.

Income later

A deferred annuity offers the opportunity to grow your assets while you wait to begin receiving your future income stream.

During this time of accumulation, any asset growth is tax deferred, which means taxes aren’t owed until you withdraw money – typically at retirement. Tax deferral allows you to grow your assets faster, because gains aren’t reduced annually by taxes.

Deferred annuities offer different approaches to growing your assets.

Fixed deferred annuities

Fixed deferred annuities offer guaranteed growth at a specific interest rate, making them a lower-risk, predictable investment.

Fixed indexed deferred annuities

Fixed indexed deferred annuities offer the opportunity to earn interest linked to the changes in performance of an index, allowing you to potentially earn higher interest than you would with many fixed interest products.

What will fund your Retirement Goals?

In the past, traditional pension plans and Social Security may have been enough to provide for a comfortable retirement.

Today, it’s become more challenging to secure and live off these sources of retirement income. That means your personal savings plays a more significant role in helping you fuel your retirement years.

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Retiree sources of income


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Social Security

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Pension/ Retirement Plan

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Employment Earnings

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Interest and Dividends

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Other


LIMRA Fact book on retirement income, 2015

Retirement savings at work

You may also participate in a retirement savings program offered by your employer such as a 401(k), 403(b) or other defined-contribution program.

These plans are also important vehicles to help you build your retirement savings and live the life you want after you retire. You have a variety of methods to save and fund your retirement.

You should consider the investment objectives, risks, charges and expenses of a portfolio and the variable insurance product carefully before investing. The portfolio and variable insurance product prospectuses contain this and other information. You may obtain a copy of the prospectus from your representative. Please read the prospectuses carefully before investing.

An annuity is intended to be a long-term, tax-deferred retirement vehicle. Earnings are taxable as ordinary income when distributed, and if withdrawn before age 59½, may be subject to a 10% federal tax penalty. If the annuity will fund an IRA or other tax qualified plan, the tax deferral feature offers no additional value. Qualified distributions from a Roth IRA are generally excluded from gross income, but taxes and penalties may apply to non-qualified distributions. Please consult a tax advisor for specific information. There are charges and expenses associated with annuities, such as deferred sales charges for early withdrawals. Variable annuities have additional expenses such as mortality and expense risk, administrative charges, investment management fees and rider fees. Variable annuities are subject to market fluctuation, investment risk and loss of principal. This information should not be considered tax advice. You should consult your tax advisor regarding your own tax situation. Guarantees are subject to the financial strength and claims paying ability of the issuing insurance company. Not a deposit – Not FDIC/NCUA insured – Not insured by any federal government agency – Not guaranteed by any bank or credit union – May go down in value. Product availability and features may vary by state.

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