Page 11 - AAA Now! – AAA Northampton County – Fall 2022

INSURANCE SERVICES
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LIFE INSURANCE CAN HELP GENERATION X MEET FINANCIAL GOALS
There’s no one-size-fits-all solution when looking at the needs of Generation X and their life insurance policies.
After all, while some members of the generation could be looking into retirement in the near future, others may have young children at home or still have career goals to accomplish.
Whether you’re planning to retire in the next few years or still have kids living in the house with years of college tuition checks still to come, now is the best time to act to help protect the futures of those that you care about.
HELP WITH FINANCIAL SECURITY
A 2022 study from the Life Insurance Marketing and Research Association (LIMRA) indicated that 49% of Gen Xers reported financial insecurity – higher than any other generation1. Whether or not that applies to you, consider what life insurance can help pay for: more significant expenses like funeral costs, medical bills that may not be covered by health insurance, and monthly living expenses that may be more difficult to cover without your income.
Keep in mind, insurance rates tend to be lower for younger and healthier individuals, so this may be the best time for you to capitalize on the options available to you and take the next step in your journey to financial security.
MAKE YOUR POLICY YOURS
If you already have a life insurance policy, that’s great! It’s a good financial practice to periodically review your policy and make sure it is still the best fit for your lifestyle. If you signed up for
the policy many years ago, consider how your situation may have changed. Are any costs you budgeted for more expensive than anticipated? Has your job changed? Do you have new debts? Reviewing your policy today could minimize the financial burden others may feel should something happen to you.
Maybe financial security is not a concern for you and college costs, mortgages and other debts are nearly paid off – a terrific position to be in.
Life insurance can also help you leave the legacy by making contributions to charities that you
care about.
NEVER EASIER TO GET MORE INFORMATION
AAA Life makes it easy to get more information, with an abundance of articles on the Life Resources page on AAALife.com. Our articles cover a wide variety of topics and can help you understand the options that you have and find the right fit for your specific situation.
1 2022 Insurance Barometer Study. Life Happens and LIMRA. April 25, 2022. ALAN-24833-0722-XX
As you near retirement, you may be thinking more about the market and its impact on your financial portfolio.
With a fixed-indexed annuity (FIA), your savings grows with positive index performance and you retain the money you’ve contributed — regardless of market conditions.
For a free quote, call Mark Gabriel at 484-546-0719 or visit AAA Northampton County
3914 Hecktown Rd., Easton, PA 18045
How Are You Planning to Achieve Your Retirement Goals?
Interest rates for indexed strategies are determined, in part, by the change in an external index or unit value. If the change for a term is positive, the strategy earns interest for that term. If the change for a term is negative, the strategy earns no interest for that term. Indexed interest, if any, is credited at the end of each one-year term. If you take a withdrawal from the strategy before the term end, that money earns no interest. If you allocate money to an indexed strategy, you aren’t investing directly in any index or exchange-traded fund, the stocks included in any index, or the securities, commodities or other investments held in the portfolio of any exchange-traded fund. Withdrawals impact contract values. Early withdrawal charges, which may be as high as 10%, apply if you surrender your annuity or take withdrawals from it during the early withdrawal charge period, which may be as long as 10 years. Taxable amounts withdrawn prior to age 591⁄2 may be subject to a penalty tax in addition to ordinary income tax. All guarantees based on the claims-paying ability of Great American Life®.
Product issued by Great American Life Insurance Company® (Cincinnati, Ohio), a wholly owned subsidiary of MassMutual, under contract forms P1457113NW, P1470017NW, P1134618NW, P1112916NW and P1074514NW. Form number and features may vary by state.
FALL 2022
3914 Hecktown Rd., Easton, PA • (610) 258-2371 • AAA.com
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