Skip to main content

Number One Planning Mistake to Avoid

Whether it be your retirement plan or your insurance plan, there is real value in regular reviews. It is always a worthwhile and productive practice. Things change in our lives and we consistently underestimate the rate of change. By committing to regular reviews, our plans will be better and we increase the chances of learning about better strategies and products.

When it comes to life insurance, it seems counter-intuitive that we can pay lower premiums at older ages. As a result, too many people question their ability to improve their coverage. In reality however, life insurance rates have been steadily falling because of technology and innovation in many fields such as medicine and pharmacology. Bottom line is that life expectancy is improving.

The results are lower cost and better policies.

Not only are more people living longer, more people are living to life expectancy too. Improvements in cancer detection and treatment, heart disease, diabetes and drug therapies are all factors proving to let insurance companies lower premiums on new policies, for new customers.  

Think of cardiac stents, organ transplants, cholesterol lowering drugs, hip and knee replacements. Each one is having a major impact on life expectancy which means you may be older but you can pay less for the same amount of life insurance you bought before these factors were used in pricing. 

If you are in similar health as you were when you last purchased life insurance, chances are good that you will do better, meaning more coverage for the same premiums, lower premiums for the same amount of insurance or better policies with better features. ted bernstein, ted bernstein retirement planning, ted bernstein insurance, ted bernstein boca raton, boca raton life insurance, ted bernstein life cycle financial planners, life cycle planners

Better Policies With Better Features.

1. Instead of a lump-sum payout to your beneficiaries, you can now choose to have the policy proceeds paid in equal guaranteed payments protecting your beneficiaries from investment and mismanagement risk of the proceeds? At the same time, premiums for the Installment Payout Option can be as much as 40% lower.
2. Does your existing life insurance policy have Living Benefits allowing you to tap the face amount of the policy when you have a critical or chronic health event? More than 90% of people own life insurance that does not include Living Benefits. For NO EXTRA PREMIUM, a new policy will let you take a lump sum advance for a health crisis.  
3. For people with permanent life insurance, you can purchase life insurance without commissions. The policy is built without compensation to the agent which allows it to perform better, especially on a net cost basis. Instead of commissions, the life insurance professional is paid a disclosed, transparent fee that is typically much less that commissions earned for a similar policy with built in commissions.
When it comes to your retirement plan, we recommend an annual meeting to review goals and objectives. The stock market is no place for individual investors to be with their retirement assets. By using indexed funds, you can take advantage of the market with NO PRINCIPAL RISK, 0% is guaranteed to be the floor. Longevity annuities with income guarantees should be considered for your retirement assets.

Are you correctly insured? From my experience, most people are unaware of these innovations and they will benefit greatly from consistent monitoring.

Contact Us today to arrange a meeting or a phone call to begin reviewing your existing plans - 561-988-8984.

Popular posts from this blog

Estate Tax and Life Insurance

"Will the estate tax increase again or go away completely?"
"Will the exemption of $11 Million per person go back to $2.5 Million?"
These are the most common questions I am asked about how to plan for the impact of estate taxes in the future. There is no certainty and that can be frustrating. The estate tax and the exemption levels become part of the political dialogue and both have been whipsawed over the years.

There are some interesting strategies to consider that make sense under any scenario. Succession planning is most successful when you take advantage of maximum transfer amounts without taxation.

Life Cycle Financial Planners works with individuals, families and businesses to help them with succession planning, wealth transfer strategies and asset protection. We specialize in fixed indexed annuities for creating guaranteed lifetime income in retirement.
Contact Ted Bernstein at 561-869-4500.

Guaranteed, Lifetime Income Annuity

Indexed annuities that are 100% liquid are important planning tools for retirement security and principal protection. The guaranteed, lifetime income from these contracts solves the nagging concern of longevity risk in retirement. The immediate liquidity ensures maximum flexibility. 
It is critical to understand the advantages of guaranteed, lifetime income in retirement versus traditional asset accumulation. 
Until recently, a primary retirement goal has been to build up assets in order to draw them down later. Professors at leading universities and retirement centers around the world are now urging retirees to re-think this conventional wisdom. Using the right annuities that guarantee liquidity from day one, you can have the best of both worlds.A portfolio of stocks and bonds cannot provide a guaranteed income for life, with zero risk. An indexed annuity does exactly that.

The right annuity contract GUARANTEES you will never lose principal while receiving guaranteed, lifetime income. A…