Life happens. Are you adequately covered?
Let life’s big events—marriage, new baby, new home or business, inheritance—prompt you to review your current life insurance portfolio. Perhaps you’re wondering if you have enough coverage now, or too much coverage? And is it the right kind of coverage for you?
Though most experts agree you need 6-8 times your annual earnings in life insurance coverage, there are additional factors to consider when determining your right amount of coverage:
- Your additional income sources outside of your salary
- Your marriage status and your spouse’s earning potential and capacity
- Your number of financial dependents
- Your employer-sponsored life insurance plan or Social Security death benefits
- Your special circumstances, including mortgage repayment, estate planning, education fund, or debt
Let the experienced agents at Manning Insurance Services, LLC of South Carolina guide you in understanding the life insurance options offered and the amount of coverage needed.
Below are some points to consider about term life insurance:
- Term life insurance premiums only last for a specified number of years.
- It offers lower premiums and higher amounts of coverage in the initial term.
- No cash value is accrued with a term life insurance policy.
- Term life insurance is good to cover temporary loans or debt.
At Manning Insurance Services, LLC of South Carolina, we also offer Permanent Life Insurance.
A combination of term and permanent offers a lifelong base of permanent insurance (either whole or universal) supplemented with term coverage for specific times or needs in your life. Additionally, a “permanent term” policy offers no cash value, but it’s guaranteed to last a lifetime. Let us walk you through the best options to fit your life.