The team at Bright Future Financial LLC are trained professionals who can help you identify
your financial needs and then determine which financial and insurance products can best help
you meet your objectives. Some of the products we often use to serve the needs of our clients
include:
Life Insurance
Many people think that life insurance is only for people with families. While it is true that
life insurance can help provide for the needs of dependents, life insurance also can be an
important part of a well-thought-out estate, business succession or charitable giving plan.
And permanent life insurance offers many living benefits as well, such as tax-deferred cash
value accumulation. For all of these reasons, life insurance can be important for someone
starting out - or for someone who's starting over.
Whole Life
Whole Life insurance is also known as permanent insurance. You receive coverage for your
entire life, as long as premiums (which are a set amount per period) are paid. Whole life
policies accumulate cash value tax-deferred.
Term Life
Term Life policies provide coverage for a specific amount of time - such as 5 years, 10
years or 20 years. Term premiums are often less expensive than whole life premiums, but once
the term of the policy is complete, coverage terminates. There is no accumulation of cash
value.
Universal Life
Like Whole Life, Universal Life is a permanent insurance policy, which means that it covers
you for your entire life, as long as premiums are paid. Universal life, however, offers you
flexibility that enables you to change your premiums and death benefit as your needs change.
This policy will terminate if at any time the cash surrender value is insufficient to pay
the monthly deductions. This can happen due to insufficient premium payments, if loans or
withdrawals are made, or if current interest rate or charges fluctuate.
Variable Universal Life
Variable Universal Life Insurance combines the premium and death benefit flexibility of a
Universal Life policy with investment opportunities. You may allocate your premium amongst a
variety of professionally managed investment divisions plus a fixed account. Of course, with
investment opportunities comes risk along with the potential for reward.
Survivorship Life
Survivorship life insurance - available as whole life, universal life or variable universal
life - covers two people and provides payment of the proceeds when the second insured
individual dies. Survivorship life insurance is often used to help meet estate planning or
business continuation goals.
Annuities
An annuity is a unique financial vehicle designed to help you accumulate money for your
retirement and/or turn a lump-sum of money into a guaranteed stream of income payments.
Deferred annuities offer the advantage of tax-deferral and can be used to accumulate money for
retirement. Income annuities are used to generate a stream of income payments that is
guaranteed to last for as long as you need it to - even for the rest of your life*. Some of
the different types of annuities are:
Fixed Deferred Annuities
With a Fixed Deferred Annuity, the interest rate on your policy is guaranteed*
never to fall below a certain amount. For many people, this provides a measure of
security.
Lifetime Income Annuities
An income annuity where income payments begin immediately - one period after the annuity
is purchased. It is designed to provide you with predictable income monthly, quarterly,
semi-annually or annually, no matter how long you live, and regardless of how the
financial markets perform.
Variable Deferred Annuities
A Variable Deferred Annuity offers the advantage of tax deferral and can be used to
accumulate money for retirement. The policy's accumulated value - and sometimes the amount
of monthly annuity benefit payments - fluctuates with the performance of your variable
investment account options. There are fees, expenses and risks associated with the
contract. Please be aware that assets allocated to the investment divisions are subject to
market risks and will fluctuate in value.
