Having the right Life Insurance policy in place can financially help protect your loved ones in the event of your unexpected death.
Analyzing Life Insurance and Term Life Insurance Needs
Whether you want to cover funeral costs or ensure that your children don’t have to worry about paying for college, the Southpoint Life Insurance team is here to help you find the right life insurance policy to financially assist your loved ones after you pass on.
There are two types of Life Insurance: Permanent and Term. Term Life Insurance is generally more cost effective and covers a set period of time. Permanent Life Insurance covers you for life, but does carry a higher cost. A third option, Blended Life Insurance, is a mix of Permanent and Term Life Insurance. It exists to help balance costs while maximizing benefits based on coverage goals.
A blended Life Insurance Policy starts out as a combination of Term and Permanent, and has both advantages and disadvantages. Year after year, Term Life Insurance coverage will decrease while the rate of Permanent Life Insurance will increase. This gradual transition occurs from Term to Permanent until only Permanent Life Insurance remains.
All of the Southpoint Life Insurance consultants have at least ten years of experience and several have over 25 years experience. We’ll work with you to find the right balance of Term and Permanent Insurance based on cost and financial goals should anything happen to you prematurely.
Your Southpoint Insurance representative will provide regular evaluations on your program’s effectiveness and make program and policy adjustments as your individual needs change.