Insurance

what is a guaranteed minimum income benefit

What Is a Guaranteed Minimum Income Benefit (GMIB)?

When looking into creating a retirement budget, you may have come across the term guaranteed minimum income benefit (GMIB). Some annuity providers offer this optional insurance rider to guarantee a lifetime income. These providers often present the benefits of purchasing the rider without detailing how it works. As such, it’s important to understand GMIBs before

What Is a Guaranteed Minimum Income Benefit (GMIB)? Read More »

how to fund college education through an indexed universal life policy

How To Fund College Education Through an Indexed Universal Life Policy

The financial burden of a college education is a source of stress for many families. According to CollegeData.com, tertiary education in private institutions would cost approximately $39,400 for the upcoming school year. This rough estimation doesn’t include other supplemental expenses an average college student would incur. With tuition and other expenses increasing each year, finding

How To Fund College Education Through an Indexed Universal Life Policy Read More »

IUL vs 401k

IUL vs 401k

For a financially secure retirement, it is prudent to have a plan early. By diverting part of your paycheck into a tax-advantaged retirement savings plan, you can grow your wealth exponentially to cater to you and your loved ones. Both employed and self-employed folks can invest in a retirement savings plan. Yet, according to this

IUL vs 401k Read More »