Life Insurance

Life insurance serves as a unilateral agreement between an insurance company and the policyholder, ensuring a designated beneficiary receives a payout upon the insured's death. There are two primary types: Permanent Life Insurance and Term Life Insurance, each offering distinct features.

Here are common reasons for purchasing life insurance:

• Covering funeral expenses
• Providing liquidity for estate taxes
• Meeting future income needs of dependents
• Funding education expenses (for policies with cash value)
• Paying off mortgages and debts of the deceased
• Avoiding probate through beneficiary designation
  

NetVEST advisors are licensed to offer a wide range of life insurance policies tailored to protect you and your loved ones. Whether you require short- or long-term coverage, focus on death benefits or cash value accumulation, we provide policies suited to your needs.

Annuities

As life expectancy increases and retirement spans grow, funding retirement becomes more crucial. Annuities, sold by insurance companies, offer regular payments at specified intervals, often after retirement. They are tax-deferred, with penalties for early withdrawals. Some types guarantee payments, while others offer potential for higher returns.

Annuities can be customized with options like guaranteed accumulations or lifetime income, tailored to your financial situation. It's essential to note that certain annuities, particularly fixed and immediate types, are sold by insurance agents not licensed by FINRA for securities, which affects their liability and fiduciary responsibility.

At NetVEST, we strongly advise verifying the licensure of individuals selling annuities to ensure they meet your financial needs responsibly.

*The guarantee of an annuity is backed by the claims paying ability of the issuing insurance company. Although it is possible to have guaranteed income for life with a fixed annuity, there is no assurance that this income will keep up with inflation. There is a surrender charge imposed generally during the first 5 to 7 years or during the rate guarantee period.

There is a surrender charge imposed generally during the first 5 to 7 years that you own a variable annuity contract. Withdrawals prior to age 59½ may result in a 10% IRS tax penalty, in addition to any ordinary income tax. Investment sub-account values will fluctuate with changes in market conditions. An investment in a variable annuity involves investment risk, including possible loss of principal. Variable annuities are designed for long-term investing. The contract, when redeemed, may be worth more or less than the total amount invested. Variable annuities are subject to insurance-related charges including mortality and expense charges, administrative fees, and the expenses associated with the underlying sub-accounts. Investors should consider the investment objectives, risks and charges and expenses of the variable annuity carefully before investing. The prospectus contains this and other information about the variable annuity. Contact your financial professional to obtain a prospectus, which should be read carefully before investing or sending money.