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Life Insurance
Life Insurance Policies for the Charleston, SC Area
Planning ahead for the future is becoming more and more important. Life insurance is a great way to make sure your family will be taken care of in the event of your passing. A life insurance policy through C2G Capital Management LLC in Charleston, SC can give you satisfaction and peace of mind knowing that your loved ones are protected.
There are two primary types of life insurance: term and whole. Term life insurance coverage lasts for a specified period of time because there is the possibility that the term will expire without the policy paying off. These policies can be purchased more inexpensively, though premiums, but prices may increase with age. Term life also does not accumulate any cash value over its lifespan. Whole life insurance is guaranteed to remain in effect for your entire life (as long as you continue to pay your premiums). The cost will depend on the age at which the policy is purchased, but will most likely be locked in and not change over time. Whole life offers guaranteed cash value which can be used to borrow against. Both options are valid depending on an individual's circumstances.
How Much Life Insurance Coverage Do You Need?
Everyone's situation is unique. By taking a look at existing assets, any loans, debt, or mortgages, you will be able to identify what would be required to ensure your family's financial needs can be met. When you speak with an agent from C2G Capital Management LLC, you'll receive all the information you need with regards to term vs. whole life insurance, as well as assistance in calculating an appropriate amount of life insurance coverage for your family's needs.
Life insurance is commonly used to cover final expenses, pay estate taxes, provide cash during retirement, replace a source of household income, set up a college fund, make charitable donations, pay off debt, accumulate cash value which can be borrowed against, and fund an inheritance.
Choosing Your Life Insurance Policy
There are different kinds of life insurance; the type of policy you choose will depend on your individual circumstances and what you need to be covered. When choosing life insurance, being familiar with your choices can help you make the right decision.
- Term Life Insurance: This type of life insurance costs less upfront but is only in effect for a specific period of time. Term life insurance allows you to match the length of the policy to the length of your need. For instance, if you have young children and want to ensure that they can be cared for if anything happens to you, you might choose this type of policy. You might also choose term life insurance if you owe a debt that will be paid off in a specified time period, buy a term policy for that period. Term life insurance is also a popular choice for anyone who needs a large amount of coverage but has a limited budget. Premiums are lowest when you are young and tend to increase as you age.
- Permanent Life Insurance: This policy guarantees you a payout for as long as you live. While premiums for this type of policy tend to be higher, they will always remain the same no matter how old you are. There are several types of permanent life insurance; the specific type you choose will depend on your financial needs and other factors.
Schedule a Consultation with Our Expert Life Insurance Agents
If you're ready to learn more about life insurance or purchase a policy, C2G Capital Management LLC can lend a hand. We've provided a glossary of common life insurance terms
for your convenience. Our agents have been serving the Greater Charleston, SC
area for nearly 10 years. Let us put our knowledge and insurance experience to work for you. Contact
us today to learn more.