Newsletter

CAN GRANDPARENTS PURCHASE LIFE INSURANCE FOR THEIR GRANDCHILDREN?

The following was written by Usman Mukhtiyar for the Insure Guardian blog on March 18.

Yes, grandparents can purchase life insurance for their grandchildren. Life insurance can be an excellent way for grandparents to provide financial security for their grandchildren’s future. By purchasing a life insurance policy, grandparents can help ensure that their grandchildren will have financial resources in the event of their untimely death.

When purchasing life insurance for grandchildren, grandparents typically have two options: purchasing a permanent life insurance policy or a term life insurance policy. Permanent life insurance policies are designed to provide lifelong coverage, while term life insurance policies offer coverage for a specified period.

When considering purchasing life insurance for grandchildren, grandparents should consider the financial needs of their grandchildren, including the cost of education, future expenses, and potential medical bills. They should also consider their own financial situation and how much they can afford to pay for the policy.

Buying life insurance for grandchildren is a great way to ensure their grandchildren’s financial security and provide peace of mind to both the grandparents and parents. Before purchasing a policy, grandparents should carefully consider their financial situation and their grandchildren’s future needs to determine the best type of policy for their situation.

You can obtain more information by calling us at 786-970-0740.

HOW LONG DOES IT TAKE TO CONTEST A WILL? FACTS YOU NEED TO KNOW

Have you ever wondered, “Is there a time limit to challenge a will?” It’s a big question, especially if something about a loved one’s will doesn’t seem right. Whether it involves

doubts about the will's fairness, questions about how the will was made, or other issues, knowing how long you have to speak up is extremely important.

Let’s examine the key points to know about contesting a will.

ANNUITIES

The following was written by the Financial Talker and posted on the Mintco Financial blog on March 19.

Annuities are getting more and more popular among seniors, and for good reason.

Annuities are not right for everyone but are a real blessing for many seniors.



Annuities are a popular choice for investors who want to receive a steady stream of income in retirement. The income you receive from an annuity can be distributed monthly, quarterly, annually or even in a lump sum payment.

A general definition is “a contract between a life insurance company and an investor, which provides savings for retirement while enjoying the benefits of tax-deferred growth.”

Read more to learn more about the differences between fixed, fixed indexed, and variable annuities and the advantages and disadvantages of buying an annuity. The blog specifically mentions Suze Orman and her praise of fixed indexed annuities.