How annuity maximization could benefit your heirs
Many people struggle to understand annuities and wonder if they really need one or not. To help shed light on this situation, let’s look at one example.
Many people struggle to understand annuities and wonder if they really need one or not. To help shed light on this situation, let’s look at one example.
Life doesn’t always go as planned. When you married, you did the responsible thing and purchased life insurance policies for both you and your spouse. Each of you named the other as beneficiary, ensuring that no matter who passed away first, the survivor would be taken care of. At least, that was the plan.
The biggest question to answer when purchasing life insurance is whether you need a term or permanent policy. Each type has advantages and limitations. To make the right decision, you should know and understand your options.