The purchase of Life insurance involves one of the most important decisions you will ever make: the security and protection of your family. At Sunvalley Insurance, we know it’s difficult to imagine a time when you won’t be there to help provide for your family. That’s why we offer a suite of Life insurance products designed to help answer your Life insurance requirements, at any stage of life. Whether you’re a new family, empty nester, business owner, or single parent, our licensed agents can help you find a life insurance option to suit your specific needs and budget.
Protecting Your Family
By preparing in advance, you’ll have the peace of mind that comes from knowing you’re protecting your family’s financial future.
And since Life insurance benefits are generally not taxable at the federal level, your loved ones can use the benefits to help take care of their living expenses in a variety of ways.
- Any needs after the time of death, such as final illness expenses, funeral costs and estate taxes;
- Funds for a readjustment period, to finance a move, or to provide time for family members to find a job;
- Ongoing financial needs, such as monthly bills and expenses, daycare costs, college tuition or retirement.
Safeguarding Your Business
If you’re a business owner or have business partners, it’s important to prepare for the unexpected. Sunvalley Insurance offers several Life insurance products that are designed to help you to make it possible for your heirs to help pay estate taxes and help sustain the business during a change in management, or to help provide funds in order to execute a buy-sell agreement between partners or stockholders.
What kind of Life Insurance do I need?
In a nutshell, Life insurance comes in two flavors: Term and Permanent. Sunvalley Insurance offers insurance products from several insurance companies for both types of Life insurance coverage.
Term Life Insurance
Term Life insurance provides the greatest amount of coverage for the lowest initial cost so it is a good choice if your needs are temporary or your funds are limited. Since term insurance provides coverage for a specific period of time (the “term”), you will have to choose the number of years you will need coverage. The Insurance Company pays a death benefit only if you die during that term. Some term insurance policies can be renewed at the end of the term. Premium rates may increase at each renewal date. Term insurance is useful as coverage for responsibilities that will diminish or end over time, such as mortgages or car loans.
Sunvalley Insurance offers several Term Life Insurance options from a variety of insurance companies. Contact us for a Quote today.
Permanent Life Insurance
Permanent Life insurance coverage is useful when you anticipate a long-term need and value the option of income-tax-favored accumulation for future needs. The accumulated value can be borrowed against and, in some cases, withdrawn to help meet future goals. (Of course, accessing your accumulated value may reduce your death benefit). As long as you pay the necessary premiums, there is no time limit (or term) restriction on the availability of your death benefit. Contact us for a Quote today.
How much Life insurance do I need?
There’s no doubt that Life insurance provides a sense of financial security. “If all else fails,” you may think, “at least I’m covered.” But determining the amount of Life insurance you need depends on a number of variables: your marital status, current income, (projected) future income, number of dependents, value of your assets, and your preferred lifestyle in general.
A common rule of thumb is that your Life insurance benefit should equal 5-10 times your current income. But there’s no one answer: if you’re older, and your mortgage is paid off, you may not need as much Life insurance as a new homeowner. On the other hand, if you’re single and have no children, you may not need a policy in addition to the one available at your job.
Keep in mind that until that Life insurance benefit is paid out, you are paying a monthly premium. That’s why it’s important to research your options and talk to an insurance agent who can help you determine the best policy options for your situation. Sunvalley Insurance offers a wide variety of term and permanent Life insurance coverage, with a range of premium levels to choose from.
For more information contact us today and ask for your free no-obligation quote.We will help you explore a variety of insurance options and discounts. Call us at +1 800 645 0297 or email us. Alternatively, have an insurance-licensed Sunvalley Insurance representative contact you.