LONGMEADOW, Mass. (Mass Appeal) - We all know the term 'life insurance,' but what does it really mean? Dylan Bond owner of Bond Financial Services gave us a lesson in life insurance.
Types of life insurance
- Universal Life
- Indexed Universal Life
- Variable Universal Life
- Whole Life
- Critical Illness - Heart attack, stroke, Cancer, ALS
- Chronic Illness - Long term care issues usually triggered by losing two of 6 activities of daily living.
- Terminal Illness - less than two years to live
- Guaranteed lifetime income benefits
- Life insurance can have great tax benefits to people that earn over 180k and can't contribute to a ROTH IRA.
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