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All About Annuities

Posted on: March 10, 2014 By: Kevin Tavakoli

When planning for the future, you may have heard suggestions on annuities and how they can benefit you in the long run. First, what is an annuity? An annuity is basically a way to guarantee income for the rest of your life. There are two standard types. The first is an immediate annuity, and the second, is a deferred annuity. Here is a quick snapshot of the options for each:

  • Life – You will receive dividends for life.
  • Period Certain – You will receive dividends for a specified amount of time.
  • Life Annuity with Period Certain – You will receive dividends until your death. That income will then transfer to a beneficiary.
  • Joint and Survivor – You will receive dividends during your lifetime and after you expire, your beneficiary will receive a percentage of that income.

All of these options can be explained in detail from a knowledgeable insurance agent. For more information and tips on choosing the right annuity for you in the Los Angeles, California area, contact Save-On Health Insurance Services today!

Are You Self-Employed and Not Sure How the Affordable Care Act Affects You?

Posted on: January 13, 2014 By: Kevin Tavakoli

Self-employed is defined as someone who works for themselves on a regular basis and has no employees to speak of. If this sounds like you, you fall under this definition even if you subcontract work to others from time to time. 

It’s not easy being self-employed as it comes with plusses and minuses. One of those minuses is not being able to afford health care on your own, even before the Affordable Care Act came into being. Now with the act in place, you’re not too sure of your options, and even less sure of being able to afford a policy. But, you don’t want to run afoul of the IRS and pay a penalty, either.

You may be eligible to get coverage on the exchange and take advantage of the subsidy to get a plan that satisfies the act’s requirements. In the event you are unable to afford a policy under any circumstance, you are not without options. You can try to qualify for an exemption, or make a shared responsibility payment on your federal income tax return. But, you may not have to make this payment if you cannot afford insurance coverage at all.

If you are in the Los Angeles, California area and in need of insurance for personal or business purposes, contact Save-On Health Insurance Services, Inc. to speak to an agent and get quotes today!