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Life Insurance is one of the pillars of personal finance and should be considered by every household. You should consider using life insurance as a strategic financial tool.

Most people do not like talking about life insurance because they don’t want to talk about death. But open and honest discussions about planning for an unexpected death can be surprisingly satisfying. Life insurance could be an important part of your long-term and comprehensive financial plan.

If anyone relies on you financially, you need life insurance! It does not simply apply a monetary value to someone’s life. Instead, it helps compensate for the inevitable financial consequences that accompany the loss of a life. It helps those left behind cover costs of final expenses, outstanding debts, mortgages, planned education expenses and lost income. Life Insurance can lessen the financial burden. Beneficiaries of Life Insurance receive proceeds free of Income Tax.

There are two main types of life insurance you should be aware of: Term and Permanent.

Term Life Insurance is the least expensive. Term insurance is for a specific term period of 10, 15, 20 or 30 years. The premiums are guaranteed for the length of the term. Many companies offer a conversion option to convert your term life contract to a permanent life contract.

Permanent Life Insurance includes a savings mechanism called “cash value.” There are many types of permanent insurance like whole life, Variable life, Universal life and Indexed Universal life; to name a few.

The Best Life Insurance for You

Determining the optimal life insurance for you and your family does not have to be complicated. While we can get detailed on each type of insurance we can offer, we recommend talking to a knowledgeable and dedicated insurance professional that will help you choose the best contract for your family and your particular situation.

We will be happy to provide a free quote to you for your life insurance needs. Please fill out the online form below and one of our agents will be in touch!

 

Life insurance guarantees are subject to the claims-paying ability of the underlying issuer.

We are here to help protect what matters most to you!

Contact SCFS today and let one of our financial professionals customize a financial plan that helps prepare you for an enjoyable retirement in the future.