It’s important for heirs to consider how a windfall might be used to strengthen their finances now and over the long term.
During periods of economic uncertainty and stock market volatility, life insurance may be a useful tool to consider.
Unlike retirement accounts, there are no federal contribution limits for variable annuities, and the investment gains won’t be taxed until they are withdrawn.
Hybrid long-term care insurance policies, also known as asset-based plans, combine the benefit of a life insurance policy or an annuity with the availability of long-term care benefits.