More and more savers are discovering that insurance products uniquely fit the bill – particularly indexed life insurance and indexed annuities. In fact, much of the money that has fled the market in the last several months is finding its way to insurance companies because of their feature set.
Then, think about the really big things that can happen to you. For example, what if I… 1) Die too soon, 2) Live too long, or 3) get sick?
If you didn’t know something as seemingly old and boring as life insurance could do all those things, perhaps it’s time to visit with your agent. Especially those of you in your 20s, 30s, and 40s should take a look into Indexed Universal Life – unless of course, you want to be sitting in an audience someday lamenting the fact that nothing good financially – happens to older people.
Traditional long term care is quickly going the way of the dinosaur. Very few insurance companies offer coverage at all, and those who do have increased their prices dramatically in recent years.
The lesson for those still in the accumulation phase is to build your wealth and retirement nest egg in accounts and vehicles that are not taxable in retirement.