Everyone has someone they want to protect. With a life insurance plan from KBI Solutions, you can give them peace of mind.
Our life insurance covers final expenses like funeral costs and debt settlement. Chronic, critical, and terminal illness can leave loved ones with expensive medical bills. Mortgage Protection is also available to keep a roof over their heads. Kannonball Insurance Solutions helps to cover these costs and protect your loved ones.
- Retirement benefits
- Chronic and Critical Care coverage
- Mortgage Protection
- Funeral Costs
- Debt Settlement
Our life insurance is unique in the fact it offers you living benefits along with the death benefits. If you have someone who depends on you, life insurance can help fill the financial gap left if you become very ill, or worse, are no longer there to support them. It is difficult to imagine a time when you won’t help provide for your family. By preparing in advance, you’ll have the peace of mind that comes from knowing you’re protecting your family’s financial future. That’s why we developed several life insurance options to suit your needs and budget.
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We are not connected with or endorsed by the United States government or the federal Medicare program.
IRS Qualified Plans
IRA, 401(k), and pension plans are tax-deferred, meaning the money is not taxed until it is taken out. Once you retire, the money is taxed.
IRAs are tax-advantaged plans that an individual contributes money to, which is then invested. You can withdraw the money after age 60, as it is expected to have grown.
401(k) plans are often offered through employers, who match a certain percentage of the amount you contribute. The advantage of these plans is the contribution can be taken out of your pay before you receive your paycheck (with automatic payroll withholding), so you don’t miss the money.
Pension plans are also tied to the employer. The employer puts money into a pool of funds, which is invested. At retirement, the money is expected to have grown.
Indexed Universal Life Contract (IUL) Plans
Indexed to the S&P 500. It mirrors the growth of the S&P 500, which sees annual growth of around 9% per year. If you haven’t heard of this plan, it’s likely because licensed insurance professionals can only sell them.
You give monthly or annual contributions to the account, like a life insurance plan. You have access to your plan anytime.
These plans have tax-free accumulation, meaning you pay no taxes on the gains. At retirement, the money continues to grow tax-free, and you can distribute it tax-free. These plans have tax-free transfer, with no death or inheritance taxes. These plans lose no principal because the IUL has principal protection. There is a floor return of 0% annual growth, so your account cannot lose money in down years. With fewer taxes on your savings, you reduce the chance of outliving your money.
Disadvantages: Funded with after-tax dollars: you cannot deduct the money you deposit in the account. IULs also cap the gains at around 12-15% per year.