Product Solutions : Alarcon Financial Strategies, LLC

Product Solutions

Annuities

An annuity is a unique financial vehicle designed to help you accumulate money for your retirement and/or turn a lump-sum of money into a guaranteed stream of income payments. Deferred annuities offer the advantage of tax-deferral and can be used to accumulate money for retirement. Income annuities are used to generate a stream of income payments that is guaranteed to last for as long as you need it to - even for the rest of your life*. Some of the different types of annuities are:

*Guarantees are dependent upon the claims paying ability of the issuing insurer.

Lifetime Income Annuities

A guaranteed income annuity provides you with a worry-free stream of guaranteed income. You can purchase one before or after you retire. The money in your annuity--which you invest as a lump sum or in a series of payments, depending on the policy you choose--generates a stream of income paid out to you for life. The amount of income you receive depends on several factors, including your age, gender, premium amount, and your chosen payout option.

Fixed Deferred Annuities

A fixed deferred annuity helps you grow and protect funds for retirement. You can purchase one before or after you retire. The money in your annuity earns a guaranteed, fixed rate of interest. You don’t pay taxes on your earnings until you withdraw them.

Variable Deferred Annuities

Designed for individuals who are saving for retirement and need the growth potential of the markets, variable annuities offer a wide variety of equity and fixed-income securities to help grow your nest egg. The money you invest in your variable annuity rises and falls with the performance of the investment options you select. And unlike many retirement savings products, you don't pay taxes on your earnings until you are ready to withdraw and use them.

Life Insurance

Life insurance does more than you might think—from safeguarding your life savings to covering a child’s college tuition, or protecting your own retirement plan. We invite you to explore the policies we offer, to determine the best option or combination of options for you.

Whole Life

Whole life insurance is a way to invest in your life, with guaranteed protection for your loved ones. It also builds guaranteed cash value,* which you can borrow against (like a loan), often tax free, to help pay for college, retire a mortgage, cover unforeseen emergencies, or even fund your retirement.**

*The guarantees of a whole life policy are based on the claims-paying ability of the issuer.
**Policy loans accrue interest and reduce cash value and death benefit. There may be adverse tax implications for policies classified as a modified endowment contract (MEC) or if the amount of your loans exceeds the cost basis of the policy. In addition, certain withdrawals from a policy that is not classified as a MEC and that are made within the first 15 years after it is issued may be fully or partially taxable. Distributions, including loans, from a MEC are taxable to the extent of the gain in the policy and may also be subject to 10% additional tax if the owner is under age 59½.

Universal Life

Universal life is a type of permanent life insurance that offers protection with flexibility to adjust to your needs and can provide access to cash value that helps safeguard the future of your family or business. With UL, you can adjust the amount and frequency of your premium payments, and even increase or decrease your policy’s coverage to keep pace with your financial goals.*

*Increases may be subject to underwriting and are available after the first policy year.

Survivorship Life

Survivorship life insurance - available as whole life, universal life or variable universal life - covers two people and provides payment of the proceeds when the second insured individual dies. Survivorship life insurance is often used to help meet estate planning or business continuation goals.

The policy will terminate if at any time the cash surrender value is insufficient to pay the monthly deductions. This can happen due to insufficient premium payments, if loans or withdrawals are made, or if current interest rates or changes fluctuate.

Variable Universal Life

VUL offers a death benefit protection, as well as investment options that provide you access to the financial markets. They come with a host of benefits that help you manage your policy on your terms.

At their very core, VUL is a type of permanent life insurance that offers a federal income tax-free death benefit payout for your beneficiary and the potential for greater cash value accumulation than with a fixed life insurance policy. Should something happen to you, your family or other beneficiary will receive the money they need to help address the financial stress of losing your income. Additionally, the cash value in your policy can be used for a variety of other financial needs. Whether you’re interested in increasing your death benefits in the future, retirement planning, business succession planning, or helping to fund your child’s education, VUL can help you insure your family today while preparing for tomorrow.

Term Life

Term life insurance is the simplest way to protect loved ones now—and lock in your lowest available rates for a set period of time. As long as you keep your policy active for a set “term” (like 10, 15, or 20 years), it can replace your lost income, tax-free, in the event of your death. Plus, you can add more coverage or upgrade to a permanent policy later.*

*Certain conditions, costs, and limitations apply.

Disability Insurance

Disability insurance is also called disability income (DI) insurance. If you become too sick or injured to work for an extended period of time, DI could help cover a portion of your income, including bonuses and commissions. It’s important to know that even if you have group long-term disability insurance through your employer, it may not be enough.

Long Term Care Needs

Long-term care is ongoing assistance someone needs to do basic daily activities as the result of a chronic health challenge or cognitive impairment. These various home, community-based and facility services are generally not covered by private health insurance or government programs.