American Fianancial Concepts also provides these additional services to ensure you and your family are financially secure.
Annuities
What is an Annuity?
An annuity is simply a contract between you and insurance company that is guaranteed by the full faith and credit of the underlying issuing company's ability to repay premiums.
3 Important Reasons for an Annuity:
- Competitive interest rates
- Considered to be safe to the regulation and supervision by the state departments and the legal system
- Offers unique tax advantage. With most other investments you pay taxes each year on the interest you earn whether or not the money is left or taken out. With annuities the interest earnings ARE NOT taxed until taken out. In turn, the values can accumulate much faster.
Living Trusts
Why have a Living Trust?
- Avoid Probate, which saves time and money.
- Avoid Publicity. Estates that pass through probate are public record.
- Helps reduce taxes.
Reverse Mortgages
If you are 62 years or older*, a reverse mortgage may be right for you. Here are some interesting facts to consider:
- People are outliving their money.
- More people than ever have reached age 100.
- Children helping mom and/or dad are spending in excess of $2,000,000,000 per month nationally for their parents' support and medical needs.
- The loan is satisfied only when you have permanently left your home.
- No FINANCIAL obligation to you/your family.
- What you can do with the equity:
- Pay off a current mortgage
- Purchase a long term care policy
- Purchase an annuity
- Provide gifts to your children and/or grandchildren
- Purchase life insurance
When you obtain a reverse mortgage you will be easing the burden your family would experience. Children are only too glad to assist mom and dad with their financial needs. Your children will have to put off putting money away for their own retirement and for their children's college education.
*You must be 62 years or older to qualify for a reverse mortgage.
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