Edward Jones: Life Insurance Options And Plans

Edward Jones offers a range of insurance and annuity products to help protect individuals, their families, and their financial goals. The company is a licensed insurance producer in all states and Washington, D.C., through Edward D. Jones & Co., L.P. They offer both term life insurance and permanent life insurance options, with the specific type varying by age and financial goals. Term life insurance is a pay-as-you-go option that covers a specific amount of time, typically 20 years or less, and is more affordable for younger families. Permanent life insurance, on the other hand, provides lifelong coverage and can include universal life, variable life, and whole life policies. Edward Jones also provides resources like a life insurance calculator and complimentary consultations with financial advisors to help individuals determine the right amount and type of life insurance for their unique situations.

Term life insurance

The choice between term and whole life insurance depends on your individual financial goals, budget, and how long you want the coverage to last.

Permanent life insurance

There are several types of permanent life insurance policies offered by Edward Jones, including universal life and variable life. The choice between these policies depends on your individual situation, long-term goals, and financial goals. For example, if you anticipate fewer financial obligations as you get older, a decreasing term life insurance policy might be a good fit. This is because the death benefit and monthly premiums decrease over time.

It is important to work with a financial advisor who can help you understand your options and choose the best policy for your needs. Edward Jones offers complimentary consultations with financial advisors to help you make an informed decision.

Whole life insurance

Edward Jones financial advisors offer complimentary consultations to help you understand the different life insurance options and choose the one that best suits your needs. They will guide you through the various permanent life insurance policies available, including whole life insurance, and assist you in making an informed decision based on your individual circumstances.

Long-term care insurance

The costs of long-term care vary according to the type and amount of care, but the price tag can be high. For example, it costs $97,500 per year, on average, for a private room in a nursing home, according to the 2017 Cost of Care Survey produced by Genworth, an insurance company. An average nursing home stay of 2.5 years would require more than $200,000 in today's dollars, and that doesn't include the effects of inflation.

There are a few things to keep in mind when considering long-term care insurance. First, the policies and costs can vary significantly based on your age, health, gender, and the amount of coverage you desire. Second, insurance companies can raise their premiums even after you've purchased a policy, so it's important to read the fine print. Finally, as with any insurance policy, there's always the possibility that you'll pay for coverage you'll never use. However, given the large potential costs of long-term care, it's important to weigh the cost of insurance against the risk of needing care and not having coverage.

Edward Jones financial advisors can help you evaluate your options and determine if long-term care insurance is right for you. Consultations are complimentary.

Annuities

Edward Jones offers insurance and annuities to help protect you, your family, and your financial goals. Annuities can help before and after retirement by providing tax-deferred savings for retirement or income generation. The company offers variable annuities, which are long-term investment vehicles designed for retirement purposes and will fluctuate in value. They are designed to help accumulate assets to provide income for retirement and will fluctuate in value based on the performance of the underlying investment options.

The Edward Jones O Series is a variable annuity that offers tax-deferred growth potential, varied investment choices, and retirement income. When you retire, you can start taking income from your account balance through annuitization. Annuitization is a one-time process of turning your annuity account into regular payments that will last for the rest of your life. The annuitized payments continue regardless of how long you live, even if the total payments exceed the original account value.

It is important to note that Edward Jones does not sell indexed annuities, which has been noted as bucking the broker-dealer trend. Experts have questioned whether this is in the best interests of the company's clients, as indexed annuities offer more competitive rates than other types of fixed annuities. However, Edward Jones believes that its clients can accomplish their goals with the current offerings.

As with any investment, it is important to carefully consider the objectives, risks, charges, and expenses associated with annuities. There are fees and expenses associated with annuities held at Edward Jones, and specific fee information can be obtained from a financial advisor. Early withdrawals from annuities may also be subject to penalties and taxes, so it is important to understand the terms and conditions before making any decisions.

Frequently asked questions