Insurance & Annuities

Insurance Portland MI

Insurance and Annuities-Portland, MI.

INSURANCE

Life insurance has changed quite a bit over the years, and finding out how people are utilizing life insurance is important for everyone. We can help you determine how much is needed for your family in the event of death and also show you how you can leverage the living benefits for future retirement cash flow.

TERM LIFE INSURANCE

Term Life insurance typically comes in 10, 15 or 20-year policies and tend to have lower policy rates as a result of their limited duration.

WHOLE LIFE INSURANCE

Whole life insurance provides affordable permanent protection for your family and has a savings component that builds cash value.

ANNUITIES

With a variable annuity, you can either start putting a little away at a time for a long-term goal, such as retirement or invest with one purchase payment. Over the years, your contract value has the potential to accumulate tax-deferred before you begin your income stream.

Is a variable annuity right for me?

A variable annuity might be right for you if you want to protect your investment without sacrificing market exposure and access to income.

Phases of an annuity: There are two phases to a variable annuity: accumulation (pay in) and annuitization (pay out).

  • Accumulation phase (pay in) – During your variable annuity’s accumulation phase, you want your Contract Value to increase as much as possible. To help you do this, we offer a variety of portfolio options to invest your purchase payments. You may continue making purchase payments throughout the life of your contract. During this phase, you may also transfer your money between portfolios (subject to limitations set forth in your contract) without paying current tax on any investment gains.
  • Optional access to income – Even during the accumulation phase, you may need access to the money in your annuity. You can choose to take a single withdrawal, or set up a series of systematic withdrawals (subject to limitations stated in your contract).
  • Annuitization (pay out) – When you are ready to turn your annuity into a lifetime income stream, you’ll choose when and how.If you choose to annuitize your contract, the accumulated Contract Value will be converted into an income stream based on the payment option you elect. There are a variety of payment options available to you, including lifetime payouts and payouts for a guaranteed amount of time. The amount of each payment will depend, in part, on the length of time, you select for receiving payments.

For additional information on life insurance policies, or to determine if a variable annuity is right for you, please contact us today at (517) 647-7157

Disclosure:

Variable annuities are long term, tax-deferred investment vehicles designed for retirement purposes and contain both an investment and insurance component. They have fees and charges, including mortality and expense risk charges, administrative fees, and contract fees. They are sold only by prospectus. Guarantees are based on the claims paying ability of the issuer. Withdrawals made prior to age 59 ½ are subject to 10% IRS penalty tax and surrender charges may apply. Gains from tax-deferred investments are taxable as ordinary income upon withdrawal. The investment returns and principal value of the available sub-account portfolios will fluctuate so that the value of an investor’s unit, when redeemed, may be worth more or less than their original value.

Primary Communities Served

Portland

Pewamo/Westphalia

Ionia

Lake Odessa