Income Replacement: True peace of mind 

Your family can't inherit your paycheck. Help your family to maintain the security & peace of mind that you always intended for them to have. They can't inherit your paycheck, but they can inherit your legacy of love and financial security that will be protected with the proceeds of your life insurance policy. 

Why is it important?

• Financial stability: Your income is likely a crucial source of support for your family, covering everything from daily living expenses like groceries and utilities to mortgage payments and childcare costs.

• Preventing financial hardship: Losing a primary earner can be financially devastating. Studies show a significant number of households would face financial hardship within months of a primary wage earner's death.

• Covering long-term goals: Income replacement life insurance can help your family stay on track with long-term financial goals, such as saving for retirement, paying off a mortgage, funding college education, or addressing student loan debt. 

Not all gainfully employed workers in America will have access to a workplace-sponsored retirement plan, like a 401k or a pension. But all workers in America will one day need a secure, reliable source of retirement income. Social Security alone will not be enough.

People who work part-time, are self-employed, or even some high-earning independent contractors are most at risk of retiring with no retirement savings. 

• Secure Income Stream: Annuities provide a guaranteed stream of income during retirement, which can act like a personal pension.

• Tax Advantages: Annuities offer tax-deferred growth on earnings, meaning you don't owe taxes until you begin withdrawing the funds in retirement. This can be particularly beneficial for self-employed individuals who may experience fluctuating income levels throughout their careers.

• Funding Options: Self-employed individuals and part-time workers can fund their annuities by making consistent contributions over time, or reinvesting business profits, or by using the proceeds from selling their business. 

An Accelerated Benefit Rider (ABR): Long-term care (LTC) protection can be integrated with life insurance policies and annuitiy contracts through riders, offering a way to access funds for care while also providing a death benefit or income stream. These hybrid products combine the benefits of life insurance or annuities with the long-term care coverage of a separate LTC policy. This is the most efficient use your policy dollars, as it provides you with multiple ways to access benefits without wasting a penny.

• Access to funds:  If you need long-term care, you can use a portion of your life insurance's death benefit to pay for it, either as a lump sum or monthly payments.  

• Income stream: Annuities provide a guaranteed income stream, and the rider can enhance that income when long-term care is needed. 

• Death benefit: If you don't need long-term care or if the rider benefits are exhausted, any remaining death benefit will be paid to your beneficiaries. 

• Qualifying conditions: You will need to meet specific health criteria (e.g., inability to perform daily living activities) to access the rider's benefits. 

Unlike LTCI, which often requires reimbursement for specific services, ABR payments can typically be used for any purpose, including long-term care expenses. Accelerated Benefit Riders (ABRs) are available for critical illness or injury, chronic illness, terminal illness and even for IVF treatment and Alzheimer's disease. Availability of riders varies by state. 

Consider your individual needs and circumstances:
Evaluate your potential long-term care needs, financial situation, and risk tolerance when deciding whether a hybrid product is right for you.