Life Insurance Information

Jim Byrd and his friends from Safe Harbor Financial stopped by Studio10 to talk about important information about life insurance.

Below is a list of some of the questions and answers discussed on the show.

Are you using the benefits of Life Insurance?
Americans are living longer than ever before and a major concern today is the rising cost of Healthcare including long term care. Many Americans assume that Medicare will cover them when they stop working. 
But according to reports from Fidelity, a 65 year old couple planning to retire in 2012 needs an additional $240,000 to cover out of pocket expenses that Medicare doesn’t cover.  This is an increase of 4% from last year.  Increases in healthcare costs have averaged 6% since the first calculations in 2002.     
    
Where does life insurance fit in?
Did you know that only about 50% of Americans have long term care cover? But what if you could take your “liquid” money, maybe from a bank CD, a savings account or any fixed account earning a low interest rate and provide life insurance and long term care insurance without any out of pocket expenses? Insurers are rolling out new products as many people are unwilling to purchase long term care insurance due to cost. These new products combine long term care cover with either a life insurance policy or an annuity. Gaining in popularity since 2010 when a law was put in place making distributions from life insurance tax free when used to pay nursing home costs these plans are becoming more popular.

What is out there that will help supplement my retirement?
The “new” single premium whole life insurance policy will allow you to deposit a single amount into the policy and your principal is always liquid   It earns a minimum of 2% interest rate and is indexed to the market, currently paying 5% tax deferred. These policies can be used by your beneficiaries to pay taxes on inherited IRA’s, estate taxes or provide extra needed income for your spouse. It also provides a long term care benefit up to $7,500 a month depending on age and amount deposited. All benefits go to your beneficiary probate and tax free!

For a free comprehensive personal review of your financial portfolio or to make an appointment with Jim, email Jim at jbyrd@safeharfin.com or call 1-251-625-1226 or toll free at 1-877-251-1984.

Find out how to get a free copy of his DVD or book, The Ultimate Success Secret, email Jim at jbyrd@safeharfin.com or call 1-877-251-1984.

Safe Harbor Financial Services
9056 Merritt Lane
Daphne, AL 36526
Call Toll Free: 866-251-1984 or local 251-625-1226
www.safeharfin.com