Life Insurance can provide financial stability in life and death. There are 2 forms of Life Insurance available that I would suggest, dependent on your personal needs.

 

Family/ Business Term Life Insurance

If you want to financially protect your family or business term insurance is generally the way to go. It is inexpensive and provides a death payment.

 

Fixed Index Universal Life Insurance

If you want financial protection for you and your family, then a permanent form of life insurance is generally recommended. Fixed Index Universal Life has some outstanding features to give you excellent cash values as well as a death benefit.

43% of Americans have a high deductible medical plan. A good Critical Illness plan can be a huge difference when a costly medical condition comes up.

 

To me, the most under-purchased health insurance for your financial protection is Critical Illness Insurance. This insurance can cover up to 11 different medical incidents or conditions. The medical conditions that people are most often concerned about the financial impact of are Heart Attack, Stroke, Cancer, and Advanced Alzheimer's disease. If you were to fall ill with any of these diagnosed diseases the company would compensate you for the amount of insurance you purchased. You don't have to wait for medical bills - once claimed, insurance will send you the money and you can use it for whatever purpose you deem necessary. Coverage is available from $5,000 to $500,000, from $5,000 to $75,000 non-medical, and over $75,000 to cover medical exams. Depending upon sex, age and amount requested I have found the average policy taken out is $50,000. Most have found the premium costs are very reasonable.

Just about everybody needs to seriously consider how much they can save. The vast majority don't have nearly enough saved for their retirement. You need to save as much as you can as early as you can - but most don't. This can be a daunting task, but it's never too late to begin saving for today and the future.

 

Start with a savings account at a bank or credit union. As you get more money, consider a mutual fund. If you are older and have saved money in an IRA or 401k, I find a fixed Indexed annuity has many positive growth and safety features. Because of the many features offered you need a good advisor to explain the good and negative points of these features. I have over 50 years of financial experience including as a banker, insurance agent, and investment firm owner. I no longer engage in the investment end as I have found Fixed Index Products to offer all the safety and growth that most people want with an extra measure of safety.