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DISABILITY INSURANCE
EMPOWERING YOU TO LIVE IN CONFIDENCE
NO MATTER WHAT LIFE BRINGS WITH THE PROTECTION OF DISABILITY INSURANCE.
Think about it. What would happen if suddenly, due to an illness or injury, you were unable to work? The ability to earn a living is far and away most people’s largest “asset.” If you rely on your income to cover your living expenses, bills, and debts, becoming disabled could lead to significant financial hardship.
Disability insurance is an essential financial protection that provides a safety net in case of an unexpected injury or illness that prevents you from working. Disability insurance provides a steady stream of income to replace your lost earnings, ensuring that you can continue to meet your financial obligations and maintain your standard of living. This coverage is particularly important if you work in a high-risk job or have a family to support, as the financial impact of a disability can be severe and long-lasting. By investing in disability insurance, you can enjoy peace of mind knowing that you and your loved ones will be protected no matter what life brings.
Learn how to protect your income if you become unable to work in the event of an injury or illness in the FAQs below or call us today at (479) 431-5632.
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HOW CAN AN ANNUITY HELP ME?Retirement should be carefree — but as it approaches, many people find the thought of maintaining and possibly running out of money over time stressful. Enter annuities. These financial instruments provide you with a guaranteed income stream, either for a fixed length of time or for the rest of your life, depending on the annuity you choose.
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HOW MUCH DO ANNUITIES COST AND ARE THERE FEES INVOLVED?It’s good to understand that an annuity transfers the risk of you outliving your assets to an insurance company. In turn, they guarantee a stable income for a specific length of time, or for as long as you live. Depending on the type of annuity you purchase, there may be fees involved in providing this guarantee. How costs are calculated: An insurance company prices its guarantee based upon your life expectancy at the time of application, and the payout period you desire. Generally, the more risk you transfer to the insurance company, the higher the fees.
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WHAT ARE SOME OTHER IMPORTANT CONSIDERATIONS?These days, annuities have many options, which requires planning and a long-term commitment to make the most of the benefits. As licensed insurance professional, we help you understand all the factors to take into consideration. Here are a few points to keep in mind: Limited access to funds. There may be limitations on your access to the cash value of the annuity. Fees and penalties may apply for early annuitization, or liquidation. Taxation. The taxable portion of an annuity payment is generally taxed as income, not capital gains. Inflation. Ask about options many annuities offer to ensure your payments keep pace with rising costs.
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WHAT HAPPENS TO MY ANNUITY WHEN I PASS AWAY?One of the best things about an annuity is that you never have to lose what you put into it. Continuing payments. Payments cease upon death, but most annuities have options to continue payments to the surviving spouse or another loved one. Distributions. If your annuity has remaining cash value, it can be distributed to your beneficiaries—the people you specify to receive your assets when you pass away. Beneficiaries receive payment via a lump sum or installments. Distribution terms are private with no need for probate (a court proceeding) if beneficiaries are family members. This makes annuities a useful tool for transferring wealth to heirs.
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HOW DO I PURCHASE AN ANNUITY?Annuities are income-guarantee contracts offered by life insurance companies that are customized just for you. Many annuity applications can be submitted electronically, but a consultation with an insurance professional or advisor is required to help you determine which features are right for you, including: Access to funds Level of market exposure Desired payment periods Beneficiary options Tax-advantaged features Annuity company and product Our team will explain your options, help you understand long-term financial impacts, and guide you to a solution that maximizes your guaranteed income and supports your overall financial goals within your budget. Call us at (479) 431-5632 to speak to one of our agents and determine in an annuity is right for you.
REAL LIFE STORY
Thanks to disability insurance, a family is able to maintain their lifestyle.
Scott Rider’s healthy life changed when he was diagnosed with Parkinson’s disease at just 47. The cognitive and physical limitations caused by the disease meant he had to give up the profession he loved.
Fortunately, he purchased disability insurance when he was just starting out and increased it as his salary grew, which enabled him and his family to maintain the lifestyle they’d always known.
Ready to secure your financial future with disability insurance? Give us a call today at (479) 431-5632 to learn more.