Life Insurance

Types of Life Insurance Available

Life insurance isn’t the most pleasant thought. It means thinking about the death of yourself, or someone close to you However, it is necessary to give it thought before something bad happens. In fact, we offer life insurance options that could benefit you and your family. At Sunshine Senior Services, we offer products that help provide a death benefit to your home, a retirement income, and much more. Talk to our staff about all the options available, and let us help you find the policy that fits your needs and budget!

Available Life Insurance Products:

A life insurance policy can help your loved ones pay college tuition, mortgage payments, and even help cover retirement income gaps in the event of your passing. Some of our permanent policies offer the opportunity to build cash value, which you’re able to use however you’d like.

How does life insurance work?

With term and permanent life insurance you make premium payments so that in the event of your passing, your loved ones and beneficiaries will receive the death benefit proceeds from the policy. Term insurance is for a specific period of time, whereas permanent is for life, as long as the premiums are paid.

Do I need life insurance?

If you have anyone that depends on you financially, or if you don’t want to leave your loved ones with burial costs/debt, then the answer is yes. If you’re just starting out and want to lock in an affordable rate for when you have a family, different types of life insurance can help with that too.

Other types of life insurance

Final Expense Insurance

When someone passes away, it’s never an easy time. However, the rising costs of funeral services and other end-of-life expenses mean that your grief is amplified by bills that you can’t pay. When you invest in final expense insurance, you’re investing in your family. This helps provide money for your loved ones to pay for end-of-life preparations while being able to remember and celebrate the life of the person that they loved so much. High funeral costs, many times, cause financial ruin years after the fact. Don’t let this happen to your family – call us now!

State-Regulated Final Expense Plan

Luckily, you have multiple options when it comes to planning for the end of your life, or the life of a loved one. First, you can opt to do nothing and leave your family with the financial burden of paying for your funeral. However, we know you don’t want to do that – why else would you be on this website? You can also elect for a pre-paid funeral. Unfortunately, many people don’t have the financial stability to outright pay for a funeral out of their savings. Finally, you can choose a state-regulated final expense, which helps provide the funds needed to provide a respectful and dignified funeral service. Plan benefits include:

Your benefits are guaranteed and can never be canceled.
The premium payments stay the same for the life of the policy.
Benefit amounts are guaranteed, and they never decrease.
The death benefit is guaranteed and tax-free as long as premiums are paid.
A cash value accrues as you pay your benefits month after month.

Final Expenses are what an individual’s loved ones pay upon death to settle funeral costs and miscellaneous bills. The average cost of a Funeral has risen from $5,582 in 2004 to $7,181 in 2014. That is a 28.6% increase according to the NATIONAL FUNERAL DIRECTORS ASSOCIATION (NFDA). These numbers DO NOT include cemetery cost. According to (NFDA), the median cost of a funeral with cremation is $6,078, but some sources put the average cost of a cremation lower at $2,000-$4,000. Once you include cemetery costs, such as the plot, the opening & closing of the vault, the headstone, and any extras like flowers, obituary notices, and transportation the price can quickly boost between $10,000-$14,000 for the total cost.