The 2017 Insurance Barometer Study by Life Happens found that only 60 percent of respondents agreed that single parents of young children need life insurance. On the other hand, 82 percent of respondents said married couples with young children need life insurance protection.1
The difference in the survey results is confounding because single parents are often in greater need of life insurance protection than couples are. A single parent could be a child’s primary or even sole caretaker. If a single parent passes away, the child may have little financial support.
Life insurance minimizes that risk. The death benefit can be used to provide care and financial security for a child. If you’re a single parent without life insurance, now may be the time to examine your options. Below are a few tips to help you get started. Your financial professional can help you determine the correct amount and type of life insurance for your needs.
Annuities are offered in a wide range of different types, all of which serve different purposes. Deferred annuities offer a chance for growth and accumulation, often with downside protection. Immediate annuities don’t provide growth or liquidity, but they usually generate a guaranteed* lifetime income stream.
Have you hesitated to explore an annuity as part of your retirement planning? If so, you could be missing out on a tool that is helpful for generating income and managing downside risk. While an annuity isn’t appropriate for everyone, it can be useful in the right situations.
Not sure whether you have enough life insurance protection? According to a recent Bankrate Money Pulse survey, there’s a good chance your coverage amount could be insufficient. The survey found that nearly 40 percent of all American adults don’t have life insurance. Among those who do have policies, almost half don’t have enough.1
There are many reasons why people carry less insurance than they need. Insufficient coverage could lead to financial difficulties for your dependents and loved ones if you unexpectedly pass away.
If you’re preparing for retirement, you are likely familiar with the broad range of tools that can be used to accumulate assets, manage income and provide a sound financial foundation. From IRAs to 401(k) plans to long-term care insurance and more, there are many financial strategies at your fingertips.
Annuities are one tool used by retirees and those approaching retirement. While annuities offer a number of specific benefits, they are often viewed with skepticism. They may seem confusing or overly complex. You may feel they pose risks or that they may not fit your situation.
Risk management is the foundation of any solid financial plan. It takes only one sizable risk to threaten your ability to reach your long-term goals. You probably have strategies in place to protect you from a wide range of risks such as medical issues, accidents, home damage and even death.
There may be one risk, though, for which you haven’t prepared. It’s the risk of disability. Many people associate disability with injuries caused in accidents. It’s true that some disabilities are caused by workplace injuries or other accident-related issues. However, the truth is that many different issues, including chronic ailments, serious diseases and much more, can cause disability.
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