When discussing when you should buy an annuity, we mentioned the tax deferred status of certain accounts. For example, many retirement devices, such as a 401k account or an annuity, allow the taxpayer to defer paying taxes until retirement. Let’s explore why tax deferral is such a powerful tool. Pay Less in Taxes With tax
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June 18, 2016 by Brad Gunning
The Pigeon Drop Scam
According to the Identity Theft Resource Center, there’s a new scam out there specifically targeting senior citizens. They’re calling it the “pigeon drop scam.” At the heart of the theft is a fake investment scam. Here’s how the scam works: A couple of thieves head to a busy parking lot, usually at a grocery store or
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June 17, 2016 by Brad Gunning
What is Return of Premium Life Insurance?
You’ve just had a baby, were recently married, or purchased a home. You make the responsible decision to buy life insurance. But what type? If you’re buying life insurance for one of the above reasons, we recommend term life insurance instead of whole life insurance. Once you’ve settled on an appropriate amount of life insurance
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June 16, 2016 by Brad Gunning
What is a Medicare Advantage Plan?
If you’re turning 65 years old, you’re probably familiar with the terms Medicare, Medigap, Medicare Supplement Insurance, and Medicare Advantage. But the differences between them and how they relate to each other is far from simple. Today we explore Medicare Advantage. To begin, the first choice anyone interested in Medicare coverage makes is
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June 15, 2016 by Brad Gunning
Should a Lawyer Have Disability Insurance?
Should a lawyer purchase disability insurance? Most lawyers will be familiar with the answer: it depends. The reason anyone has disability insurance is to protect their income. If a lawyer (and this goes for any occupation, really) is independently wealthy and doesn’t rely on their income to make ends meet, then disability insurance doesn’t make a
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June 14, 2016 by Brad Gunning
Medigap Insurance Provides Freedom
On our sister site, www.medigap-insurance-for-medicare.com, we drafted a blog detailing the Freedom of Choice with Medigap. To summarize, some of the main reasons we often end up recommending Medicare supplement insurance (Medigap) over Medicare Advantage is the freedom it allows its subscribers. With a Medigap plan you can choose your doctors and hospitals – you
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June 11, 2016 by Brad Gunning
Top 15 Occupations Purchasing Disability Insurance
What are the most common occupations enrolled in disability insurance? A common question among many of our potential disability insurance customers is “Is my occupation one that typically gets disability insurance?” So we thought it might be interesting to pull back the curtain a bit and write a blog detailing the occupations that are most
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June 9, 2016 by Troy Baccus
Should You Purchase a Whole Life Insurance Policy?
Should You Purchase a Whole Life Insurance Policy? As a general proposition, Montana Life Group does not universally endorse whole life insurance. There are certainly exceptions, which we’ll touch on in this post, but overall we feel the majority of people are better off purchasing a term life insurance policy. To begin with, whole life
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June 8, 2016 by Brad Gunning
Who Should Buy Universal Life Insurance?
The Wall Street Journal published an article exploring the recent upsurge in variable universal life and indexed universal life insurance policies. The article does a great job explaining how universal life insurance works. We also full-heartedly agree with WSJ’s breakdown of who should consider buying universal life insurance (short answer: not most people): Variable universal
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