Baker Associates has been providing life insurance and annuity services and advisement since 1972. Today's life insurance and annuities are completely different from what they were just ten years ago. The life insurance industry today is designing new products to accomplish three different objectives depending on your needs. Today's insurance products may be used in the classic death benefit fashion, but also other options living benefits you are encouraged to explore.
Living benefits include tax-free retirement income for life and/or long-term care benefits equal to the face amount of your policy. For instance, if you have a $250,000 life insurance policy with the right type of insurance, you can either use that for long-term care insurance, a death benefit, or a combination of both.