Life Insurance for protection 

     Life insurance is a very unique in that it creates an immediate estate of funds tax free to help the survivors in the most difficult times of their lives. This is not meant to replace the one who has died but will replace the income potential that was lost as a result of death. These funds are created for the survivors and their ongoing needs to pay mortgages, raise children, fund college education and pay for the basic needs of life.

Life Insurance for Retirement

Many people obtain life insurance create a wealth of money to supplement their retirement years. These funds build tax deferred inside the policy and can be used to draw from at retirement or to pay for their ongoing insurance policy.

Life Insurance Compared to Annuities

Annuities are the opposite of life insurance. Annuities are policies that earn interest tax deferred and the deposits are guaranteed. Annuities can be funded monthly or with a lump sum of money.   It can be left to accumulate money and used at retirement for supplemental income. Unlike CD's, annuities are sheltered from taxes.  Every year they accumulate and the interest is compounded with the previous funds to give a greater return. Taxes are paid on the interest at withdrawal when most people are in a lower tax bracket. Annuities are a long-term savings vehicle as they carry penalties from the IRS if withdrawn before age 591/2. Annuities can also be used to leave loved ones and sum of money for inheritance. 

Micone Life Insurance is independent agency that works with a number of insurance companies to best fit the goals of each individual. We specialize in life, mortgage, and disability insurance as well as tax deferred annuities and Roth IRA's.

We offer an array of products through independent companies that allow us to custom fit the goal of each client.

For instance, we have a substandard company that specializes with folks that have health issues. We shop these cases with certain companies that better understand the risks than other companies may.

Similarly, we will shop for the best interest rate for building wealth with tax-deferred annuities.