Having the right life insurance is essential for securing the future of you and your loved ones. Life insurance ensures that you can fulfill promises made to your family, providing financial support when you’re no longer around.
Don’t leave your family’s future to chance. Sac-City Insurance Solutions Life Insurance can help you find the right life insurance coverage in Sacramento, ensuring that your policy meets your changing needs over time.
Life Changes. So Should Your Policy.
Each person’s life insurance needs are unique and influenced by their personal and financial situation. As your life evolves, your insurance coverage may need to evolve with it. Key life changes that could require an adjustment to your policy include:
- Getting married or divorced
- Welcoming a new child or grandchild
- Starting or expanding a business
- Experiencing a change in your or your spouse’s health
- Providing care or financial support to a parent
- Assisting a child or grandchild with long-term care needs
- Purchasing a new home
- Planning for a child’s or grandchild’s education
- Preparing for retirement income
- Refinancing your home mortgage
- Receiving an inheritance
- Having a significant estate
What You Need to Know
Sac-City Insurance Solutions Life Insurance can guide you in selecting the best life insurance coverage for your needs. There are several types of life insurance available, including:
Term Life Insurance
Term life insurance offers coverage for a specific period, such as 10, 15, or 20 years. If you’re new to life insurance, term life can be an affordable option to start with. It tends to be more affordable than permanent life insurance, and the premiums are fixed for the duration of the term. Additionally, some term life policies may be convertible to permanent coverage, giving you flexibility as your needs evolve.
Whole Life Insurance
Whole life insurance is a permanent life insurance policy that provides coverage for your entire lifetime, as long as premiums are paid. In addition to providing financial protection, whole life insurance also has a savings component that builds cash value over time, which you can access if needed.
What Type of Life Insurance is Right for You?
Choosing the right type of life insurance depends on your specific goals and financial situation. The team at Sac-City Insurance Solutions is here to help you understand your options and select the best protection for your family.
Benefits of Life Insurance
The right life insurance is a cornerstone of financial planning, not only providing peace of mind for your loved ones, but also offering additional benefits and investment opportunities.
Life Insurance Death Benefit
The death benefit from a life insurance policy provides financial support to your beneficiaries when you pass away. This tax-free income can be used to cover funeral costs, debt, education expenses, and estate taxes, or to meet other financial needs. Life insurance can also protect your business by providing funds for partners to buy out a deceased partner’s interest, preventing forced liquidation.
Living Benefits
Permanent life insurance policies, such as whole life, often build cash value that grows on a tax-deferred basis. This means you don’t pay taxes on the cash value growth until you withdraw funds. You can take loans or withdrawals against the cash value to help with major expenses, like college tuition or a down payment on a house.
The right life insurance coverage for each person is unique. Speak with the team at Sac-City Insurance Solutions today to find out how to protect your family and future with the right life insurance policy.