You take care of your family every day, from providing for your kids to nurturing your spouse. You do it because you love them—and because you’re responsible for them. While you may not always be here, with a bit of planning you can leave a financial safety net and legacy for your loved ones.
Simple steps can make a big difference, like naming and updating beneficiaries on existing retirement accounts and life insurance policies; engaging in basic estate planning, such as writing a will so everyone knows your wishes; and buying adequate life insurance. All these moves can help your family thrive when you’re no longer with them. Talk to a financial professional about how you can protect your family today and in years to come.
What type of life insurance do I need—and do I even need it?
Life insurance provides security for all kinds of families, from those with younger children, to empty nesters and older couples without children who use cash value policies as part of an overall retirement income strategy. A financial professional can help you decide which type of life insurance works best for you. For instance, term policies, good for a set number of years, are often less costly, and they’re popular with young families because they help survivors resolve debt and maintain their lifestyle. Cash value life insurance policies have a cash value accumulation component that allows the flexibility of using the money earned while you’re still here to enjoy it.
Sources:
1 The American Council of Life Insurers, “Types of Life Insurance”
2 Pacific Life, Glossary
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Do I need an estate plan?
Estate planning is crucial for anyone—regardless of income or assets—who cares about having their wishes carried out the way they want. From who will care for your children to how much you leave to charity, the only way to communicate those desires once you’re gone is by having the right documents in place. A financial professional can help you create an estate plan that best suits the needs of your family.
How much life insurance is enough?
There’s no one-size-fits-all answer to this question. Everyone has different financial situations and goals, and every family has different needs. Your goal may be to help replace lost income, including lost 401(k) contributions, or to ensure each child has college tuition, plus help your spouse pay off the mortgage. Cash value life insurance policies offer growth potential that can supplement retirement income streams. Life insurance may also help secure your financial legacy for heirs or even favorite charities. With help from a financial professional, you can land on the right amount of life insurance to meet your goals. Our Life Insurance Calculator can help you start the analysis.
Products that Protect
Cash Value Life Insurance
Death benefit protection with tax deferred cash value build up, and ability to access the cash value via policy loans and withdrawals.
Term Life Insurance
Death benefit protection for a specific period of time.
Fixed Indexed Annuity
A fixed indexed annuity is designed to provide reliable monthly income that lasts for life. It protects your principal, while providing growth opportunity based on the positive movement of an index, such as the SXP 500® index. Fixed indexed annuities enable you to grow your retirement savings faster by deferring taxes until you take income, creating lifetime income, and providing for loved ones through a guaranteed death benefit.
Variable Annuity
A variable annuity is designed to provide reliable monthly income that lasts for life. It is a long-term investment that can help you grow your retirement savings faster by investing in a diverse selection of investment options while deferring taxes until you take income. The market-based investment performance will be variable, meaning it can go up or down. Variable annuities also allow you to provide for loved ones through a guaranteed death benefit.
Find a Financial Professional
You want to reach your goals. A financial professional can help you get there, Please email our Insurance Department;
SXP Global Incorporation
insurance@sxpglobalinc.com
+19166742046
Frequently Asked Questions
| What are some benefits of cash value life insurance? |
Cash value life insurance offers flexible premiums, flexible death benefit amounts, and the ability to access the policy’s available cash value via federal income tax-free policy loans and withdrawals. Your policy will stay in force as long you have sufficient cash value to cover your monthly policy charges.
| What do I need to know about trusts? |
| Who can I leave my money to? |
How can I leave a charitable gift to a cause I care about?
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