Insurance
Single Premium Life Insurance
By Herb Warden
A great way to keep more of your hard-earned money in the family is with a Single Premium Whole Life Insurance policy. Your single payment of at least $5,000 immediately purchases an increased inheritance for your heirs. The death benefit, based on your age and gender, is guaranteed never to be reduced unless you take loans or withdrawals. Withdrawals or loans of interest earnings may be subject to tax penalties if the borrower is under 59 and 1/2 years old.
Your payment also earns tax–deferred interest. The initial interest rate is guaranteed for the first year, with a new rate being declared in each subsequent year. Additionally, since the inheritance passes as a death benefit, it is income tax free under current tax law and avoids the costly and time–consuming probate process. Guarantees are based on the claims paying ability of the issuing insurance company.
To find out if Single Premium Whole Life Insurance is right for you, call me at 518.782.0209 or 800.688.1045.
Fixed Annuity - Your Lifetime Planning Option
If you are looking for an investment product you can pass along to the next generation, consider fixed annuities. When considering fixed annuities, keep in mind the following top three benefits:
- Rate: Fixed annuities have a guaranteed rate of return that may be attractive compared to other guaranteed interest investments.
- Protection: Fixed annuities are considered insurance products. They have a minimum interest rate that is guaranteed by the financial institution backing the annuity.
- Tax Deferral: You can postpone paying taxes on interest earned until a withdrawal is made. There is no maximum deposit limits and the IRS does not require any minimum distributions from an annuity.
If you think a fixed annuity could be in your future call 518.782.0209 and speak with one of our CAP COM Financial Service Advisors.
Does Your Insurance Coverage Meet Your Needs?
Will your family be fully protected if something should happen to you? Are you paying a tailor-made price for one-size-fits-all life insurance? Not sure? Slip into CAP COM Financial Services and we'll make sure you get insurance coverage that fits. We'll offer you unbiased advice about which type of insurance is best for you and get you a fast, no-hassle quote. When you know you've got the right coverage at the right price, you're dressed for success!
Fill out our online Quote Request Form to get a fast quote on Term Life Insurance or call Herb Warden, our Insurance Specialist, at 518.782.0209. Mr. Warden can also be reached at capcom@lpl.com.
Choose from these Insurance Services:
- Life (Whole, Term, Universal)
- Long-Term Care (Nursing Home)
- Disability
- Critical Illness
- Tax Deferred Fixed Annuities
Life Insurance and Long Term Care
Under one policy
Consider purchasing a benefit rider with your life insurance policy while you are still active and healthy.
Planning now can protect your assets, your independence and your family from the burden of expensive costs that come with long term care. The Benefit Rider is a simple way to meet both the needs of long term care and life insurance – all under one policy! The rider would cover the costs of skilled, intermediate or custodial care by extracting from your death benefit. When the life insurance policy is used for long term care expenses, the death benefit is reduced dollar for dollar, and the cash value and policy account value are reduced proportionately.
You can customize your long term care coverage; use it all, some of it or none at all to pay for your care. The portion you don't use will be paid to your heirs and will be income tax–favored under current law.
To find out if the benefit rider would fit your needs, call Herb Warden at 518.782.0209.
