Friday, February 14, 2020

Don’t Be Without A Final Expense Policy

A  final expense policy is a permanent life insurance product which provides coverage throughout the insured’s lifetime.

It combines a death benefit with a savings element. 

A final expense policy also has level premiums throughout with the proceeds being made immediately available to pay off final expenses. 

Such expenses can include funeral costs, medical bills, or other associated expenses.

Burial Insurance
Also called burial insurance, final expense policies are typically inexpensive and offer benefits generally from $2,500 to up to $25,000. 

They often do not require medical exams and are favored by seniors on fixed incomes as an economic way to cover final expenses.

A Sense of Peace and Security
If you have Social Security, Medicare, and either a Medicare Supplement or Medicare Advantage, then you need a Final Expense policy to cover all of your bases. 

You will then feel a sense of peace and security knowing that you will not have to burden your loved ones in any way.

Applying is easy and simple. No height or weight requirements. Most health conditions accepted. 

Call (773) 614-3201 for a personally designed
Final Expense policy.

Saturday, December 28, 2019

Financial Choices for Safety and Security in this Era of Trump

Although 401(k)s are rebounding, financial safety and security continues to be sought in America. 

In this context, traditional whole life insurance and annuities must be considered as safe and secure options for acquiring sufficient money to have a satisfying retirement.

The long standing traditional whole life insurance lasts for your whole life and the premium remains the same as long as the policy is in existence. 

Traditional whole life insurance contains the basic essentials of term insurance, with an investment element added.

You pay a premium amount larger than the premium which would be paid for term insurance and that part of the payment is invested over the life of the policy. 

The growth of that investment is nontaxable to you. This favorable treatment of return on investment is exclusive to life insurance and offers a significant wealth buildup vehicle.

In a nutshell, here's what traditional whole life insurance have to offer:
  • ·         tax-favored cash values
  • ·         death benefits
  • ·         competitive interest rate
  • ·         guaranteed return
Next, an annuity is an investment contract between you and the insurance company. You receive a return on your investment that supplements your contribution. In the future, you can choose to "annuitize" the investment to provide income for a specified period of time in your lifetime.

The earnings on an annuity can grow without being lessened by taxes. These earnings are not taxable until you withdraw them, and then they are spread out over a number of years. 

When you begin receiving income from an annuity, only part of your income is taxable because you receive both interest and a partial return of the invested principal.

To make the best use of the positive tax advantages of an annuity, you also must be aware of the potential tax problems. The IRS imposes a penalty of 10 percent along with the tax owed on withdrawals unless you are over age 59 1/2 when withdrawing money from the annuity or cashing it in. 

These charges are in addition to any insurance company fees that might be imposed upon the withdrawal.

It is advisable to approach the purchase of an annuity with the expectation that you will not draw on it until you are older than age 59 1/2. 

To fully make the most of the tax advantages you should plan on holding the annuity for many years so that the earnings can grow without current taxation. No matter what the tax advantages of an annuity are, you still must pay close attention to the rate of return on the investment.

Here's what annuities have to offer:
  • ·         a guaranteed return.
  • ·         a competitive interest rate.
  • ·         and, tax-free or tax-favored benefits
Because of their safety and security, both whole life insurance and annuities should be given a major consideration for providing either partial or full retirement benefit. 

Keep current on the tax laws. They change frequently. Our Congress will be proposing some very beneficial changes in your ability to save for your retirement. Look for this in an upcoming post. 

Call (773) 614-3201 or e-mail me at if you have questions regarding life insurance and annuities

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Friday, July 26, 2019

Buy Your First Home Now

Mortgage rates remain historically low. At around 3.75% for a 30 year fixed mortgage, the  time has hardly been better than now to buy a home.  

Homes have begun to appreciate significantly in value in certain parts of the country. But, wherever you are, buy a home for the long term. Consider it a place in which to live, to enjoy, and to raise your family, not just for an investment. . 

Keep in mind with a thirty-year fixed rate mortgage, your monthly payments (with the exception of your property taxes and homeowners insurance)  are set for the duration no matter how high the interest rate may rise in the future. 

Now here's a mortgage calculated upon the current 30 year interest rate of 3.75%. See how much you will be paying for the next thirty years.  For example your monthly note for a $150,000, 4 bedroom house, with a 30 yr fixed rate of 3.75% and a FHA mortgage of 3% down would be roughly $674 per month. 

Now, consider just the financial savings between buying and renting. In many of the urban areas of this country, a 4-bedroom apartment would rent for over $2,000 per month with the rent subjected to increase every year. 

E-mail me at and I'll send you a detailed home buying vs renting comparison. For a free consultation, call (773) 614-3201

Click here for a home that's for immediate sale in Chicago. All offers considered. 

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