FAQ

What is life insurance, and how does it work?

Life insurance is a contract between an individual and an insurance company that provides financial protection for loved ones. When you purchase a life insurance policy, you agree to pay premiums, either monthly or annually. In return, the insurance company guarantees a payout, known as a death benefit, to your designated beneficiaries upon your death. This benefit can be used to cover expenses like funeral costs, debts, or ongoing living expenses, helping to ease the financial burden on your family. Life insurance policies come in various forms, such as term or permanent, offering flexibility to suit different financial needs and goals. 

What is the difference between disability insurance and hospitalization insurance?
A1: Disability insurance provides income replacement if you're unable to work due to a serious illness or injury. It pays a portion of your income, helping you cover daily expenses like rent, groceries, and bills. Hospitalization insurance, on the other hand, focuses on covering expenses directly related to a hospital stay, such as room fees, doctor visits, surgeries, and medications. While disability insurance supports your income, hospitalization insurance helps with hospital-related costs, and together, they provide comprehensive financial protection during medical situations.

Are annuities a good option for retirement?

Annuities provide a steady income stream for life, offering greater security for retirees than CDs, IRAs, or Roth IRAs. While these other options have contribution limits and may offer lower interest rates, annuities allow for unlimited investment potential and higher growth. Importantly, annuities offer creditor protection in many states, which can protect them from lawsuits or creditor claims. Unlike CDs, IRAs, or Roth IRAs, annuity assets are often shielded by law, meaning that your retirement income remains safe, even in the event of a legal claim. This makes annuities an appealing, secure option for retirement planning..