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Insurance Services

From Annuities, to Life Insurance, to Long Term Care, we can craft an Insurance policy that best fits your objectives.

Notice:  Safeguard Estate and Financial is a licensed insurance agency.

Insurance Services:

What is an Annuity?

According to the National Association of Insurance Commissioners (NAIC)

An annuity is a contract with an insurance company. All annuities have one feature in common, and it makes annuities different from other financial products. With an annuity, the insurance company promises to pay you income on a regular basis for a period of time you choose—including the rest of your life.”

(Source: https://www.naic.org/documents/prod_serv_consumer_anb_la.pdf)

The NAIC has created a Buyer’s Guide for Deferred Annuities to help you learn more about these important planning tools.  Contact us for a complimentary copy of this valuable resource.

 

According to the Insured Retirement Institute:

Fixed Annuity:

Designed for people who are looking to save money and the ability to draw protected income from their annuity for retirement.

How It Works:

A Fixed Annuity provides a fixed interest rate that offers a high level of predictability, along with flexible payment choices including the option for lifetime income.

Features:

• Rate of interest is guaranteed for a specific period of time.

• Protection from market downturns.

• A choice of payment options, including protected lifetime income for as long as you live.

• Income can begin immediately or be deferred to a later date.

• You may not have to pay taxes on any interest earned until money is withdrawn.

• Access to your funds at any time, possibly subject to charges.

Considerations:

• There may be charges and a tax penalty for early withdrawals.

Index Annuity

Designed for people who want to take advantage of potential gains in the stock market while still having some level of protection against losses.

How It Works:

With an Index Annuity, the interest you receive is linked, in part, to the performance of a market index, such as the Standard & Poor’s 500 Index. When the index increases, you’ll receive interest – based on what’s specified in your annuity contract. If the index declines, you won’t receive interest, but the principal of your annuity will not be affected.

Features:

• The potential to grow based in part on the performance of a market index.

• Protection from market downturns since the value of the annuity is not affected by negative index returns. You are not directly invested in any security or index.

• You may not have to pay taxes on any interest earned until money is withdrawn.

• A choice of payment options, including protected lifetime income for as long as you live.

• Income can begin immediately or be deferred to a later date.

• Standard or enhanced death benefit features are available.

Considerations:

• There may be charges and a tax penalty for early withdrawals.

• In a down market, your annuity may not earn interest.

(Source:  https://www.retireyourrisk.org/article/signature-series-types-of-annuities/)

What is Life Insurance?

According to the National Association of Insurance Commissioners (NAIC)

When you buy life insurance, you want coverage that fits your needs.

First, decide how much you need-and for how long-and what you can afford to pay.  Keep in mind the major reason you buy life insurance is to cover the financial effects of unexpected or untimely death.  Life insurance can also be one of many ways you plan for the future.

Next, learn what kinds of policies meet your needs and pick the one that best suits you.

Then, choose the combination of policy premium and benefits that emphasizes protection in case of early death, or benefits in case of long life, or a combination of both.

(Source:  https://naic.org/documents/consumer_guide_life.pdf)

The NAIC has created a Life Insurance Buyer’s Guide to help you learn more about these important planning tools.  Contact us for a complimentary copy of this valuable resource.

What is Long Term Care?

According to the National Association of Insurance Commissioners (NAIC)

Someone with a long physical illness, a disability, or a cognitive impairment (such as Alzheimer’s disease) often needs long-term care. Many different long-term care services can help people with these conditions. Long-term care is different from medical care, because it generally helps you to live as you are instead of improving or correcting medical problems. Long-term care services may include help with activities of daily living (ADLs), home health care, respite care, hospice care, or adult day care. Care may be given in a nursing home, an assisted living facility, a hospice facility, a day care facility, or in your own home. Long-term care also may include care management services, which evaluate your needs and coordinate and monitor your long-term care services.

Who Pays For It?

People pay for long-term care in different ways. These include individuals’ or their families’ personal resources, long-term care insurance, and some help from Medicaid for those who qualify. Medicare, Medicare supplement insurance, and the health insurance you may have at work usually won’t pay for long-term care.

About 70% of people who reach age 65 are expected to need some form of long-term care at least once in their lifetime.

What is Long-Term Care Insurance?

Long-term care insurance is one way you may pay for long-term care. This type of insurance will pay or reimburse you for some or all of your long-term care costs. It was introduced in the 1980s as nursing home insurance but now often covers services in other facilities. The rest of this Shopper’s Guide gives you information about long-term care insurance.

(Source: https://www.naic.org/documents/prod_serv_consumer_ltc_lp.pdf)

The NAIC has created a Shopper’s Guide to Long-Term Care Insurance to help you learn more about these important planning tools.  Contact us for a complimentary copy of this valuable resource.

Contact Us:

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Safeguard Estate & Financial

1405 N. Hayden Rd.

Scottsdale, AZ

85257