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Annuities and Long Term Care


An annuity can provide you with a tax-deferred way of saving for your retirement. Once you’ve retired, an annuity can give you a guaranteed stream of income for as long as you live. It’s like getting a paycheck for the rest of your life, and it can help you maximize your income throughout retirement.

If you want to build up your retirement fund and enjoy a guaranteed income for the rest your life, then deferred annuities can be a great choice for building a tax-deferred retirement nest egg - especially if you want to save more than you might with IRAs and 401(k) Plans.

Long Term Care

When people consider the subject of long-term care, they often think about nursing homes. In fact long-term care has little to do with nursing homes.  Understanding the difference can help you protect your family and finances. If you need on-going, custodial care, chances are it will be delivered in the community, not in a nursing home. Every study conducted finds that care is overwhelmingly provided at home. The key question, of course, is who is going to pay for it?

Long-term care encompasses the care, services, and housing you will need when you live a long life. Think back 25 years ago. If you had cancer or a stroke, you simply died. Few ever heard of Alzheimer's, but today it is one of the leading causes for long-term care services. The longer you live, the more likely you are to need care. The question is not who will take care of you, because your family will most often, but rather what providing that care will do to your family and finances.

The use of long-term care insurance has become an important part of planning for disability resulting from living a long life. The coverage serves to both keep families and care providers healthy, and allows your retirement portfolio to be used for the purpose for which it was intended, namely retirement. Medicare, the primary health care program for retirees, pays only for skilled, medically oriented or rehabilitative care, not custodial care in any venue.   

Contact Us Today

To discuss investment options at North Shore Bank, email  Janice Berner, reach out online or call (781) 876-4111.

For information about Baystate Finacial Services, CLICK HERE


Securities, investment advisory and financial planning services offered through qualified registered representatives of MML Investors Services, LLC. Member SIPC. Baystate Financial is not a subsidiary or affiliate of MML Investors Services, LLC, or its affiliated companies. 200 Clarendon Street, 19th & 25th Floors. Boston, MA 02116. 617-585-4500. NOT A DEPOSIT, NOT FDIC INSURED, NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY, NOT GUARANTEED BY THE BANK, MAY GO DOWN IN VALUE. Members SIPC. Bank officers are not officers of MML Investors Services, LLC.

Some health insurance products offered by unaffiliated insurers through the Enterprise General Insurance Agency Inc., (EGA) 400 Atrium Drive, 3rd Floor, South Wing. Somerset, NJ 08873