Life Insurance and Term Life Insurance are one of the most valuable asset protection programs to provide for your loved ones as well as to maintain everyone’s quality of life. This is a gift which keeps on giving! Show your family or business that you cared enough to provide for them even after you could not physically be with them. Revised 21st Century “real” life insurance, allows you to access your benefits so you are protecting your financial foundation during your lifetime if you were to become critically or chronically ill. Also by maintaining the policy through premium payments (that are in your budget) you can be confident that there is not another burden of funeral costs which tend to create further hardship.
There are several different options when it comes to choosing Life Insurance. Ildiko Insurance Advisors are here to help you sort through all the confusion by advising you with the right choice for you and/or your family. No matter what your age or situation, Ildiko Insurance Advisors will assist you with the appropriate plan and most economical terms for your budget.
Universal Life Insurance
Universal life insurance has cash accumulation and is a Life Insurance policy which typically offers you the flexible options for amount and which enables you to determine the amount of your premium payments. It is more affordable vehicle than whole life. These amounts can actually be changed throughout periods, as subject to policy guidelines. Your Universal Life Insurance Policy will accrue interest at a rate set by the company. These accumulated funds are tax deferred and can be available during your lifetime through loans and/or withdrawals (against the account).
Term Life Insurance
This type of policy offers protection for a predetermined, specified length of time. Also may be used as mortgage protection insurance. The usual time frame is 20 years but can even be 40, determined on your age. These policies do not typically accrue cash value and is initially less expensive, however premium amount oftentimes will increase with the age of the insured. Ildiko Insurance Advisors offer a term insurance plan – which the insured has living benefits included such as for critical, chronic or terminal illness.
Asset Accumulation or Cash Value Life Insurance
In the vehicle of Universal Life aka known as Cash Value Life Insurance. This can be a viable addition to your long term financial goals as these policies allow you to over fund in a tax-deferred manner, based on Federal Income Tax Laws. Assets accumulated are for a long term basis and are available to you for instance such as used towards college funds, paying off business loans or enhancing your retirement portfolio. You may also take loans or withdrawals against the account policy after a predetermined time.
This procedure is put into place to guarantee smooth transition of your personal wealth and assets to your heirs. Your Life Insurance can be a large part of your estate, especially as the beneficiary receives their monies totally tax-free and first. While Ildiko Insurance Advisors are here to assist you in making the right insurance decisions for your estate, we are not tax advisors and recommend you also procure the services of a Certified Financial Advisor to be certain your entire estate is built on a solid platform. In that case our company and theirs can all meet together to ensure you and/or your family have the proper plans in place.
Long Term Care Insurance or Critical Illness Insurance
This type of insurance is designed to relieve the financial burden caused by the need for care giver services that could result from illness, injury, or simply the onset of advanced aging. While most people think Long term Care is simply intended to cover the expense of assisted living, or nursing home facilities, it actually applies to much more. Lack of Long Term care Insurance could be the downfall of even the best thought out retirement strategy. Your Long Term Care Insurance Policy will guarantee you and your family are not over burdened by a sudden loss of income due to illness or accident. Ildiko Insurance Advisors are here to assist in making the correct decisions when choosing Disability and/or Long Term Care Insurance.
Your Long Term Care Insurance Policy will guarantee you and your family are not over burdened by a sudden loss income due to illness or accident. Ildiko Insurance Advisors are here for you to assist in making the right decision when choosing Long Term Care Insurance.
Long Term Care encompasses a huge array of services that may be required in the event of accident, illness, or simply growing older. Please note that Medicare or your Health Insurance usually has no provisions for Long Term Care.
Four main categories encompassed by Long Term Care Insurance are:
- Home Health Care
- Community Care
- Assisted Living Facilities
- Nursing Homes
Do you know what you what do if you were injured and could not return to work for a long while? What if you could no longer work due to an injury or disability? As we all do not like to think about such things happening in our lives we must be pro-active and ensure that we make arrangements and preparations in the likelihood that such things can and do happen in many people’s lives. Let us help you understand all the options that are available in such cases for disability insurance.
Use our handy Calculate Your Needs disability insurance calculator to see just how much money you or your loved ones would require to replace a paycheck or retirement income.
For More Information Call Today 772-221-0882
Ildiko Insurance Advisors, LLC
Independent Insurance Agents
Serving All Florida. Local agent for Martin County, St. Lucie County, Palm Beach County – Stuart, Palm City, Port St. Lucie, Vero Beach, Ft. Pierce, Sebastian, Jensen Beach, Hobe Sound, Tequesta, Jupiter, Palm Beach Gardens, West Palm Beach, Hollywood, Florida…
|Legal Notice Tax-Qualified Long-Term Care Insurance Policies In 1996 Congress passed the Health Insurance Portability and Accountability Act (HIPAA) which provided, in part, the criteria for establishing tax-qualified long-term care insurance policies. Essentially, HIPAA provided that benefits paid under a long-term care insurance policy would not be taxable if the long-term care insurance policy met minimum eligibility criteria. As a result of HIPAA, it is easy to tell which long-term care insurance policies are intended to be tax-qualified because there will be an identifying paragraph on the front page of the contract.|