Why Annuities Are the Smartest Life Insurance Alternative for Some Retirees
If you’ve been denied life insurance—or simply don’t want to go through the medical exam process—you may feel like your options for leaving a legacy are limited. But there’s an overlooked solution that can still provide protection, peace of mind, and financial growth: Using Annuities as a Life Insurance Alternative.
While annuities are primarily known for providing retirement income, certain contracts can act as life insurance alternatives, especially for older individuals or those with health concerns. The key is understanding how they work, and how to match the right product to your goals.
Annuities Without Underwriting
Some annuities offer guaranteed issue options, meaning you won’t be asked any health questions at all. For clients who don’t qualify for traditional life insurance, this can be a game-changer. Funds invested into an annuity can grow tax-deferred, then pass directly to beneficiaries, avoiding probate and reducing administrative headaches.
Depending on the contract, your annuity may also offer:
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Enhanced death benefits
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Joint payouts to protect a surviving spouse
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Riders for long-term care or chronic illness
Tax-Deferred Growth With Protection
Unlike savings accounts or CDs, annuities offer principal protection, tax-deferred compounding, and the ability to create lifetime income. If you’re primarily focused on preserving wealth and passing it on, this makes annuities an excellent tool—even without the life insurance label.
At Diversified Insurance Brokers, we frequently help high-risk or older clients build legacy strategies with annuities that mirror many of the same benefits they would have received with life insurance.
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Ready to explore insurance and annuity options that offer guaranteed income, principal protection, disability, life insurance, Social Security and Medicare reviews, and long-term financial growth? Let the expert advisors at Diversified Insurance Brokers help you find the right strategy for your retirement goals.
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