Annuities are tax deferred savings contracts that are usually written by insurance companies. The owner of the contract makes a payment or series of payments to the issuer or insurer and in return the insurance company promises to make a payment or series of payments to the contract owner in the future. Although they have […]
Posts in category Insurance and annuities
We provide an overview of insurance and annuities, ranging from life insurance to health insurance to disability insurance to annuities. We discuss how to insure against longevity risk using annuity contracts, and discuss some of the tax benefits related to these products as well. We also provide an overview of the different health insurance products available in the private marketplace, and review how some of these plans can be supplemented by health savings accounts. We continue on to discuss health insurance products available in retirement, such as medicare and medicare advantage and supplement products. We discuss the different types of life insurance and disability insurance available in the private marketplace as well as survivor benefits and disability benefits provided through the social security program. We also touch upon some of the tax benefits which are provided by life insurance, and how such benefits can assist with the estate planning process.
The different types of health insurance policies are listed below. Health maintenance organization (HMO) Health maintenance organizations provide coverage from entirely within their network of providers. These plans typically have lower administrative costs and less paperwork than other plans. Members usually must obtain a referral on order to proceed with receiving care from another provider. Preferred […]
Health savings accounts (“HSA’s”) provide a means for an individual or family to self insure all or a portion of their medical expenses. Contributions can be made up to a certain annual limit, and the balance carries forward from year to year. They are designed to be supplemented with a high deductible health insurance plan (“HDHP”), […]
Life insurance taxation is an important subject as relates to your overall financial situation. Life insurance contracts have several tax features which make them unique and advantageous as an asset class. We will discuss several aspects of life insurance taxation. We will discuss tax advantages of life insurance here related to the death benefit, the withdrawal […]
Life insurance policies are contracts which are designed to protect the income or assets of the insured person in the event of his or her death. There are many different types of policies including term insurance, whole life insurance, and universal life insurance. We will briefly review each of these types of policies here. Term […]