It’s a sobering fact that many Americans do not have adequate life insurance. According to a September 1, 2010 State Farm report, 68 million people are not covered, though it’s possible the number is much greater.Read More
Planning for retirement has become increasingly difficult, as new reports indicate that couples retiring this year will need at least $220,000 to cover their health care expenses alone after they leave the workforceRead More
Purchasing an annuity is one way to protect against longevity risk in your retirement.
This risk occurs when individuals approach the end of their savings long before the end of their life. Annuities and other risk-pooling options may help them accumulate nearly 50 percent more than they would on their own, according to the American Academy of Actuaries.Read More
More than one-third of Americans ages 45 to 70 fear they will run out of money during retirement, while almost half have no plans to protect themselves should they outlive their financial resources, according to a survey conducted by the Society of Actuaries.Read More
Annuities are a financial instrument, typically sold by life insurance companies, that provides a guaranteed income based on the amount of money that is invested in it, the Daily News reports, adding that the investment can be made either in installments or in a lump sum.Read More
Many workers planning for retirement are turning to annuities to ensure a steady flow of income to supplement savings and Social Security benefits. Individuals should examine the different types of annuities and payout options before making a decision.Read More
Many consumers buy life insurance for the financial security it may provide to their family or other loved ones when they die. While the death benefit is the primary purpose of life insurance, few consumers know that permanent life insurance can also help them during their lifetime, according to The Hartford. Here is a list of benefits that a life insurance policy can provide.Read More