An annuity can be defined as an insurance product that provides income and can be a useful part of retirement strategy. Investors who prefer to receive a steady income after retirement generally opt for annuities. Initially you make an investment in annuity and pay a lump sum or multiple payments to the insurance provider. After…
Tax Deductibility of Long Term Care, by Martin Petroff Esq
Tax-deductible medical expenses may include the costs of diagnosis, cure, mitigation, treatment, or prevention of disease, and the costs for treatments affecting any part or function of the body. They may also include the costs of equipment, supplies, and diagnostic devices needed for these purposes. Dental expenses are also covered. The incurred expenses must be…
Qualified Domestic Relations Orders
Qualified Domestic Relations Orders Retirement plans such as 401(k)’s, defined benefit pension plans, and other hybrid employer sponsored retirement savings vehicles are often among the largest assets to be divided during the division of a martial estate. Many of these plans are governed by a set of federal law known as the Employee Retirement Income…
Reasons to Convert Term Life Insurance to Permanent Life Insurance
Term life insurance may make sense now, when funds are low and insurance needs are high. But this may not be the case a few years down the road. That’s why when you purchase term life insurance you should make sure there is a convertibility option within your contract. A convertibility option allows you to…
Tips to Consider Before Buying Long Term Care Insurance
The Center for Retirement Research reported that 64% of pre-retirees are at risk of not having enough money saved to maintain their current lifestyles. That means that 2 in 3 retirees will have to reduce their standards of living in retirement. If no major medical issues arise, it may not be so bad. But we…
Life insurance coverage Fundamentals
Life insurance coverage Fundamentals Life insurance coverage has existed with regard to a large number of many years. Actually set annuities. It’s a confirmed program. It’s developed through the years. Whenever someome removes the life insurance coverage with regard to safety, it’s a contractual contract to pay for the group amount on the actual passing…
Roth IRA conversion questions: 401k, multiple accounts, taxes
Answers to a dozen frequently asked questions regarding conversion to a Roth IRA 7. Can I take my 401(k) and convert it to a Roth IRA like I can a 401(k) rollover to an IRA? This is possible. As long as the plan participant is eligible to take a distribution from the plan and the…
Basics of Investing in Annuities
are an insurance product that generates income via investment practices. Annuity plans provide a fixed amount of income to Annuitants over a specific time period. This investment product is often used to generate supplemental income, but can be cost-prohibitive due to associated costs. The primary advantage of annuities is they grant investors opportunity to maximize…
Go Web Shopping for Life Insurance
Looking for a good, but cheap life insurance policy? You may be surprised to learn just how simple and reliable web shopping for life insurance can be! There are several benefits to purchasing life insurance online. Because their overheads are low, online insurance providers are able to offer attractive discounts, sometimes up to 70 percent…
Getting secured with help of Medicare Supplement Plans
Having a Medicare policy by your side to pay off your medical bills when necessary is always helpful as you can never know beforehand whenever you shall be needing it. Therefore to be papered for any situation is the best thing you can do. But the fact is that just by having a Medicare policy…