Today has been a hot day here in Sarasota, Florida…..fairly standard for this time of year. As we gear up for the holidays and the end of the year, I thought it would be a good idea to share some of the common insurance trends we are seeing here in Sarasota, Florida. As an independent insurance agent or advisor, I enjoy the fact that I can offer just about any type of insurance product or service on the market, and so keeping tabs on all my options for clients is a big part of my business.
For starters, life insurance, especially among young families has become more of a priority across the board. Life insurance rates have stayed very reasonable, giving consumers the piece of mind they are looking for to protect their families from unexpected loss. Both term life insurance and cash value life insurance provide unique opportunities to policy holders, and with life insurance companies creating more unique and flexible policies to fit the insurance needs of everyone, now is the best time to purchase it. We have seen a tremendous uptick in interest and new policies written due to this increasing trend.
Health insurance is a hot topic these days, with the Affordable Care Act, finally going into full effect January 1st, 2014. Open enrollment will begin for Reform policies offered through the federal ‘exchange’ or ‘marketplace’ beginning October 1st, 2013. Although the end of the year will be a hectic time with consumers trying to figure out all of their health insurance options, we are excited to assist when the time comes.
The popularity of fixed income annuities has gained a lot of ground in recent years. This is due to the fact that the over the last 5 years, the stock market has been more inconsistent and volatile then in years past. Income annuities offer one main objective that no other financial tool or instrument offers, guaranteed income for life. People are concerned about outliving their savings, and frankly they should be. The reality is that people are living longer these days. Modern medicine isn’t necessarily curing diseases, but expanding life expectant for those with chronic illnesses. Social Security was never meant to be enough money to retire on, but simply supplemental income to retirement savings and/or a pension plan. We like deferred income annuities because it gives the consumer the opportunity for their money to grow (outside of the stock market) with a controlled and predictable rate, and guaranteeing an annual pay out when they decide to start taking it. This strategy works great in conjunction with a qualified retirement plan and social security, paving the path for peace of mind in retirement.
If you or a friend or colleague would like to learn more about our services, please don’t hesitate to contact us, we look forward to serving all of your life insurance, health insurance, and fixed annuity needs.
LionShare Insurance Group