By Dan Schulte, Senior Vice President and Manager, Annuities and Insurance
November is Long-term Care Awareness Month
Long-term care needs will vary from person to person, but according to HHS’s Administration on Aging, someone turning 65 today is 70% likely to need some type of long-term care in their remaining years. While a little less than one-third of today’s 65-year-olds may never need long-term care support,
By Dan Schulte, Senior Vice President and Manager, Annuities and Insurance
In addition to the usual financial risks we have such as inflation risk, market risk, and economic risk; there is another risk to confront in retirement: longevity risk, which is the risk of outliving your retirement assets. When planning for retirement, living too long can be a scary proposition, especially for those with a projected long-life expectancy.
By Dan Schulte, Senior Vice President and Manager, Annuities and Insurance
All businesses, regardless of their size, have key employees who are invaluable to the success of the company. In a small business, each employee usually has a more direct effect on a company’s profitability because there are fewer employees interacting with customers, creating products and performing services. As a result, the loss of a key employee due to death or disability can be especially difficult for small businesses to operate until a replacement employee is found.
By Dan Schulte, Senior Vice President and Manager, Annuities and Insurance
September is Life Insurance Awareness Month, which is a month-long public awareness campaign sponsored by the nonprofit organization Life Happens.
The COVID-19 pandemic has illustrated just how quickly lives can change due to illness and/or death. The outbreak has resulted in many people thinking about how to increase the financial security of their families,
By Dan Schulte, Vice President and Manager, Annuities and Insurance
These last few weeks have demonstrated how connected our world is. In addition to the virus spreading, financial anxiety is also spreading across the land. While annuity products cannot make you immune from a virus, they can help relieve your financial anxiety by contractually guaranteed* products that can be designed to fit your needs.
By Dan Schulte, Vice President and Manager, Annuities and Insurance
The recently passed Setting Every Community Up for Retirement Enhancement (SECURE) Act, changes the post-death distribution rules for retirement account owners by requiring most beneficiaries to receive funds from their inherited account within 10 years after the original owner’s death. This change mandates much faster distributions than what was previously allowed under the ‘stretch’ provision, which lets beneficiaries spread distributions over their own life expectancies.
By Dan Schulte, Vice President and Manager, Annuities and Insurance
Americans will travel near and far during the coming weeks to gather with family and friends for the holidays. Many families will have someone close to them- possibly a parent- who needs help with activities of daily living for an extended period (long-term care). Even with this reality, most families do not address their own likely future need for long-term care.
By Dan Schulte, Vice President and Manager, Annuities and Insurance
The idea of having a prolonged physical illness, disability, or a long-term cognitive impairment, such as Alzheimer’s can be frightening. So much so that you might not want to think about it at all. However, having a long-term care need without proper planning could result in a significant economic hardship for you and your loved ones.
Consider this:
The national average for 24-hour home care or for one year in a nursing home can cost more than $100,0001
At least 70% of people over the age of 65 will require long-term care at some point in their lives with 20% requiring care for longer than 5 years2
By Dan Schulte, Vice President and Manager, Annuities and Insurance
September is Life Insurance Awareness Month which is a month-long public awareness campaign sponsored by the nonprofit organization Life Happens.
If the income you earn would suddenly stop, due to death, could your family continue to meet their financial obligations such as paying the rent or mortgage, paying bills, daily living expenses, or even sending a child to college?
By Dan Schulte, Vice President and Manager, Annuities and Insurance
All businesses, regardless of their size, have key employees that are invaluable to the success of the company. The death of an individual whose services are important to a business will almost certainly cause considerable losses and costs to the business. For example, some customers or clients with whom the key employee enjoyed a close relationship may choose to not stay with the business,
