Life Insurance
A simple way to protect and guarantee that your family and loved ones are taken care of and have financial security should something happen to you. Interested in purchasing life insurance?
Did you know?
At least 70% of individuals over age 65 will require at least some type of long-term care services during their lifetime.
Protect What Matters Most. The Ones Your Love.
If you died tomorrow, would your family be able to pay for your funeral costs, outstanding medical bills, estate taxes, and any other outstanding debts?
Purchasing life insurance is an easy way to make sure you’re prepared.
Purchasing Life Insurance?
Here is why you should invest in the future
- Confidence knowing that your family and loved ones have protection in place
- Provides financial security
- Assist in paying for final expenses (e.g. funeral, burial expenses, estate taxes)
- Help pay off any debts left behind
- Variety of coverage options
- Affordable coverage*
- Source of saving*
- Use as an inheritance to pass on to the beneficiaries
- Tax-free money to the beneficiaries
*depends on the type of policy chosen
leading insurance carriers
states licensed in
Don’t Fail to Plan for the Future
Life insurance policies are continually changing, and we can provide you with the latest information and policies available.
Let us at SouthPoint Risk help you provide financial protection for the life you’re building – and the most important people in it.
Cost of Life Insurance Coverage
Life insurance comes in a variety of types at a wide range of costs. The cost will depend upon three main factors:
Type of policy
Your age
Your health at the point in time when the policy is issued
Other factors include your gender, lifestyle, and occupation. Regardless of your budget, we can find a solution that covers your specific needs at a price that works for you.
Types of Life Insurance
There is no “one policy that fits all” because no two people have the exact same needs.
It can become overwhelming when trying to decide what’s right for you. We are here to help.
Term Life Insurance
Often the most cost-effective coverage because it only provides coverage for a limited or specific period of time. It’s considered temporary insurance, usually 5 to 30 years, and, in most situations, purchased for a specific purpose such as to pay off a mortgage or other debts in the event of death.
Term life insurance pays a death benefit only if you die during that term. It generally provides the largest insurance protection for your premium dollar and premiums will not increase.
Once coverage is no longer needed merely cancel the policy. Affordable term insurance can be very valuable to a family or a business.
Permanent Life Insurance
An appropriate way to meet long-term needs. It offers lifetime protection, fixed premiums while building cash value on a tax-deferred basis.
The most common types are Whole Life Insurance and Universal Life Insurance.
You may benefit from buying permanent life insurance if you:
- Have a high net worth and are seeking a tax-advantaged product.
- Understand that permanent insurance is a long-term commitment.
- Need insurance for estate planning purposes.
- Want guaranteed life insurance for life.
Permanent Life | Whole Life Insurance
Whole life insurance is the simplest form of permanent life insurance and provides permanent protection from the date the policy is issued until the date of the insured’s death if the premiums are paid.
Advantages of whole life insurance:
- Guaranteed cash value that grows each year.
- Long-term financial protection against expected and unexpected life events.
- A single policy to last your entire life.
- Predictable and dependable coverage.
- Financial protection for an unexpected death.
- Provides money to pay off debts, final expenses, and family living expenses.
Permanent Life | Universal Life Insurance
Offers more flexibility and has the ability to build cash value into the policy.
With a universal life insurance policy, the cash value earns interest on a tax-deferred basis and the death benefit is left to loved ones tax-free.
As it accumulates the policyholder can access the funds as needed and if it is not paid back that amount is reduced from the death benefit at the time of the insured’s death.
Advantages of universal life insurance:
- Builds cash value that can be withdrawn in the form of a policy surrender or a policy loan.
- Allows flexibility to the policyholder – can change the amount, premiums, and frequency of premium payments.
- Increase or decrease the death benefit at any time.
- Multiple secondary insured so the entire family can be covered under one policy.
Additional Coverage
Auto Insurance
Your car is a vital part of your daily life, so you need an auto insurance policy that protects you from where the road takes you.
High-Value Home & Affluent Personal
Our experienced team will work with you to identify, assess, & manage the unique set of risks that come with a high-net-worth or high-value home.
Jewelry & High-Value Items
Protect your valuable items including high-end artwork, heirloom items, collectables, antiques, & more.
