{"id":1589,"date":"2017-09-29T11:34:02","date_gmt":"2017-09-29T16:34:02","guid":{"rendered":"https:\/\/lifeannuities.com\/blog\/?p=1589"},"modified":"2017-09-29T11:38:52","modified_gmt":"2017-09-29T16:38:52","slug":"life-insurance-becomes-an-annuity","status":"publish","type":"post","link":"https:\/\/lifeannuities.com\/blog\/retirement\/life-insurance-becomes-an-annuity","title":{"rendered":"Life Insurance Becomes An Annuity"},"content":{"rendered":"<p><strong>1ST SCENARIO<\/strong><\/p>\n<p>You both buy $250k and one partner subsequently dies.<\/p>\n<p>The surviving partner uses $30,000 ($25,000 after tax) to replace your income for the family<\/p>\n<p>The fund lasts 10-12 years and your partner receives zero help for retirement.<\/p>\n<p><strong>2nd SCENARIO<\/strong><\/p>\n<p>You buy a joint $1M on your lives and one subsequently dies<\/p>\n<p>The surviving partner invests the money conservatively and takes $30,000 ( $25,000 after tax ) to replace your income for the family.<\/p>\n<p>The fund lasts and, at retirement,your partner has $1M to buy a guaranteed- for-life annuity.<\/p>\n<p><strong>CONCLUSION<\/strong><\/p>\n<p>If there are young children and the surviving partner cannot work to save money for retirement,where does the money for retirement come from?<\/p>\n<p><strong>Look At What You have Done<\/strong><\/p>\n<ol>\n<li>\u00a0You have turned life insurance into an annuity.<\/li>\n<li>You have turned the insurance premiums you paid into $ 1 million cash.<\/li>\n<li>You cannot accumulate tax-free $1 million, by saving.<\/li>\n<li>\u00a0Annuity retirement income is now guaranteed.<\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"<p>1ST SCENARIO You both buy $250k and one partner subsequently dies. The surviving partner uses $30,000 ($25,000 after tax) to[&#8230;]<\/p>\n","protected":false},"author":1,"featured_media":1600,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1589","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-retirement"],"_links":{"self":[{"href":"https:\/\/lifeannuities.com\/blog\/wp-json\/wp\/v2\/posts\/1589","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lifeannuities.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lifeannuities.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lifeannuities.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lifeannuities.com\/blog\/wp-json\/wp\/v2\/comments?post=1589"}],"version-history":[{"count":10,"href":"https:\/\/lifeannuities.com\/blog\/wp-json\/wp\/v2\/posts\/1589\/revisions"}],"predecessor-version":[{"id":1599,"href":"https:\/\/lifeannuities.com\/blog\/wp-json\/wp\/v2\/posts\/1589\/revisions\/1599"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lifeannuities.com\/blog\/wp-json\/wp\/v2\/media\/1600"}],"wp:attachment":[{"href":"https:\/\/lifeannuities.com\/blog\/wp-json\/wp\/v2\/media?parent=1589"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lifeannuities.com\/blog\/wp-json\/wp\/v2\/categories?post=1589"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lifeannuities.com\/blog\/wp-json\/wp\/v2\/tags?post=1589"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}