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October 22, 2004     Heritage Florida Jewish News
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October 22, 2004
 

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PAGE 8B HERITAGE FLORIOA JEWISH NEWS, OCTOBER 22, (NUE)--Annuities maybea useful tool for those whowant a steady stream of income throughout their lives. While most annuities include a death benefit, an annuity is almost the opposite of a life insur- ance policy - annuities offer financial protection against outliving your income. Buying an annuity can be a complicated decision. Following are a few key con- siderations for buyers before HELP WANTED Part-Time Heritage Florida Jewish News has an opening for someone to help bundle newspapers on a once-a-month basis, must be able to lift 30 Ibs. Please call Jeff at: 407-834-8787 decidingwhethertopurchase on market highs, they also * Make certain the com-such as Standard & annuity policies: carry additional risk in a panyfromwhichyouarecon-Insurance Rating Review all of your other downturn, sidering buying an annuity savings plans, pensions or *Becarefulaboutexchang-product is reputable. A good corn), Moody's Investor retirement funds to deter- ing one variable product for place to start is tolook for the viceslnc.q mine whether you need an another. For instance, ex- Insurance MarketplaceStan- Fitch Ratings annuity and whether the changing a variable annuity dards Association logo. Only (www.fitchratings.com) annuity you are considering for a fixed or equity-indexed companies that have proven and A.M. Best is the right one for you based product may result in a "sur- through extensive outside (www.ambest.com). on your age, financial status, render charge" and higher review that they adhere to Check with your investment objective and annual fees, along with a IMSA's stringent Principles insurance de risk tolerance. Is there a pos- new period of time during and Code of Ethical Market be sure the company sibility that you could outlive which you cannot withdraw Conductcandisplaythislogo. considering buying yourassets?Willyoukeepthe money from your accountVisitwww.IMSAethics.orgto licensed to do annuity long enough so that without substantial surren- seeifthecompanyislistedand your state. thechargesdonoteatupyour der charges. Always check for other information. Remembel investment? the schedule of surrender Be sure the company a legally binding Determine whether you charges and other fees. They offering the annuity prod- Read the annuity want your investment to be may be higher on the variable uct is financially strong, carefully and be sure steady and fixed or variable, annuitywith the bonus credit Many independent services agent has answered While variable products offer than they were on the annuity rate the financial strength questions thoroughly an opportunity to capitalize you already own. of insurance companies,you buy. For many people, it's hard to place a value on something like financial planning until it's too late. Perhaps that's because there is a false sense of security in acquiring wealth - a sense that once you've attained a certain financial goal, you can rest easy. The truth is, your income and assets represent more than numerical achievements on a spreadsheet; they represent everything you care about and want to do with your life. And those achievements are continually at risk--far more than you may realize-- which puts your current lifestyle and your hopes and dreams for the future at risk, too. One of the biggest risks facing your wealth today is the threat posed by creditors. You might say, "But wait a minute. I pay my bills---always have and always will. How can creditors threaten my assets? Creditors" emerge with great frequency from automobile accidents, employee lawsuits, landlord/tenant disputes, contractual disputes, divorce and malpractice suits. You may think you are protected, but an alarming number of people of wealth are under insured, and far more don't have the structures in pldce to protect their assets from a serious suit. Taxes continue to be another key threat to your income and assets. Despite excellent accounting, many with substantial assets are paying unnecessary tax simply because they're unaware of some creative, legally sound tax reduction strategies. There are many more threats. The point is, wealth can create complacency. If your income exceeds $250,000, or your net worth exceeds $2.5 million, you owe it to yourself to investigate the comprehensive analytical and predictive " tool that persons of wealth are talking about: SmartWealthsM. The consultation is complimentary. The SmarlWealth fee ranges from $5,000 to $25,000, and includes an impressive money-back guarantee. Call for a complimentary consultation to see If you are on the right track for increased and sustained prosperity. SM Randall E. Elllngton, J.D CLU, ChFC, CFP 549 North Wymore Road, Suite 205, Maitland, FL 32751 (407) 774-6343