MORTGAGE PROTECTION
What Is Mortgage Protection?
When a homeowner passes away, has a heart attack, stroke ,or ends up with cancer and they can no longer go back to work.
They want to be sure that in addition to any life insurance coverage they may have (designed to replace their lost income for the benefit of the surviving spouse and children,) that the single largest expense most families will ever have, that being their mortgage, can be paid off to guarantee that their loved ones will always have a roof over their heads.
This is where Mortgage Protection comes in. Mortgage protection usually comes with living benefits which means you do not have to die in order to collect the insurance benefit.
What Is Final Expense Insurance?
Final expense insurance is a life insurance policy used to pay for the costs of funeral services and a burial when the named insured dies. Such a policy helps ease the financial burden that can devastate a family when a loved one dies.
With the average cost of funeral and burial costs now at nearly $8000*, and a Social Security benefit only $255**, the need for this type of protection is very real, and very important. Ask about our final expense coverage and dont leave a burden on your loved one when you pass away.
What Is Universal Life? (UL)
Universal Life (UL) policies are perhaps the most flexible types of life insurance policies available today.
UL is a type of permanent life insurance based on a cash value. That is, the policy is established with the insurance carrier where premium payments above the cost of insurance are credited to the cash value of the policy.
The cash value is credited each month with interest, and the policy is debited each month by a cost of insurance (COI) charge, as well as any other policy charges and fees which are drawn from the cash value if no premium payment is made that month.
The interest credited to the account is determined by the insurer and carries minimum guarantees.
WHAT ARE ANNUITIES?
An annuity is a type of savings plan that can be used to accumulate assets on a tax-deferred basis for retirement and/or to convert retirement assets into a stream of income.
While an annuity is an insurance contract and benefits from all the guarantees and security that an insurance policy provides, an annuity is, in reality, the opposite of traditional life insurance:
Life insurance provides financial protection against the risk of dying too soon An annuity provides financial protection against the risk of living too long and running out of income during retirement years
Don’t get me wrong, you can utilize your Whole Life cash value all throughout your life. You can even withdraw everything you put in without paying any tax, but in order to access the excess growth tax-free, you must borrow it.
This is a great time to discuss Whole Life’s “loan” component, even though it’s thought of as a 4-letter word. But remember how I said that compounding is the most important ingredient of the infinite banking concept? Borrowing against your infinite banking life insurance policy is exactly how you maintain the compounding of your safe and liquid assets while still using them to fund major expenditures, emergencies, and other investment opportunities.
There are two basic types of annuities:
Deferred Annuities. A deferred annuity has two distinct phases: the accumulation phase and the income phase.
During the accumulation phase, a client will contribute premiums to the annuity, where their savings accumulates on a tax deferred basis until needed for income purposes.
Immediate Income Annuities. An immediate income annuity is purchased with a single premium and income payments begin immediately or shortly after the premium is paid.
BENEFITS OF A FIXED INDEXED ANNUITY
In the past, the choices were either (1) receive the guarantee of principle and a minimum amount of interest, or (2) link to the market with the potential of higher returns, but also accept the downside risk to the principal.
A Fixed Indexed Annuity provides the best of both worlds. Guarantee of principal and the potential of market-linked growth with no risk of loss of principal due to market downturns.
LEARN HOW TO PROTECT YOUR RETIREMENT
What Is Indexed Universal Life? (IUL)
Indexed Universal Life (IUL) is similar to universal life insurance, however it does have several features not found in traditional UL policies. IUL comes in many different flavors, from a basic fixed-rate policy to variable products that allow the policy holder to select various equity accounts in which they can invest.
An indexed universal life insurance policy gives the policy holder the opportunity to allocate cash value amounts to either a fixed account or an equity indexed account. Indexed policies offer a variety of popular indices to choose from, such as the S&P 500 and the Nasdaq 100..
GET A FREE NO COST QUOTE TODAY
Trinity Retirement Solutions
20860 N Tatum Blvd, Phoenix, Arizona 85050, United States
(800) 254-0812
Hours
Mon - 09:00 am – 05:00 pm
Tue - 09:00 am – 05:00 pm
Wed - 09:00 am – 05:00 pm
Thu - 09:00 am – 05:00 pm
Fri - 09:00 am – 05:00 pm
Sat - By Appointment
Sun - By Appointment
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Copyright © 2023 Trinity Retirement Solutions Formally Texas Retirement Solutions- All Rights Reserved.