Life Insurance in Charleston, Goose Creek, Kiawah Island, Moncks Corner & Summerville, SC & Surrounding Areas
Taking Care of Your Family
Life Insurance from L.H. Griffith & Company
Few things are as tragic as a family struggling with financial issues after a death. Whether dad or mom is the family’s wage earner, losing a loved one is tragic enough without adding the burden of worrying about money.
Unfortunately, survivors don’t get to take a break from the reality of ongoing financial obligations and debt. All the everyday burdens continue, including:
- Mortgage payments
- Car payments
- College tuition
- Your child’s future wedding expenses
- Utilities, groceries, gas, clothing, daycare and ALL the costs of simply doing life
L.H. Griffith and Company has years of experience in helping families plan for the future, come what may. Your L.H. Griffith agent can show you specific life insurance plans that cover more than final expenses. We can review options that actually build cash value which you can use for retirement. There are plans designed for specific periods of time. With myriad options from financially solid insurance companies, L.H. Griffith has a plan designed with your family’s future in mind.
Options that make sense
What type of life insurance do you need?
Do you want to cover short-term debt? Do you need your life insurance policy to contribute to your retirement income? These are just a few of the issues you’ll want to consider when choosing a life insurance plant. Your L.H. Griffith agent can help you wade through the many different options available to you. These brief descriptions will help you with your initial review:
Term Life Insurance
Term life insurance is the most affordable type of life insurance. As its name infers, term life insurance pays a benefit should the insured’s death take place during the predetermined term of the policy. Term life is often used to cover short-term debt that was incurred AFTER the purchase of permanent life insurance. It’s often less expensive to purchase term insurance for new debt than increasing the face amount of your permanent life insurance policy.
Permanent Life Insurance
Permanent life insurance includes whole life as well as universal life insurance: the two most popular types of permanent life insurance. Permanent life insurance is designed to provide life insurance coverage for as long as you live. Whole Life is comprised of two parts: savings earnings and insurance. Your premiums remain the same throughout the life of the policy, as the savings portion earnings offset increases due to aging. Universal Life is similar to whole life, being comprised of the same type of savings earnings and insurance components. However, it is much more flexible, allowing you to pay premiums at any time, decrease and increase coverage without surrendering the policy, make voluntary contributions up to IRS limits AND the ability to withdraw accumulated money from your cash value account.
Life insurance isn’t a popular topic…but it could be the most important discussion you ever have with your family. Talk to your L. H. Griffith agent about protecting your family’s future with a smart life insurance plan.
A solid addition to your retirement plan
Fixed Annuities are a smart way to increase the value of your retirement plan. They are designed specifically for retirement and, as long-term investments, they offer many benefits:
- Your earnings are tax-deferred
- They give you an ‘extra’ savings tool once you’ve reached the cap on IRA and 401k contributions.
- They can generate a guaranteed lifetime income (subject to a variety of factors)
- They help alleviate the uncertainty of your retirement portfolio
Your fixed annuity provides death benefits that may be passed onto beneficiaries AND provide a guaranteed rate of return. Ask your L.H. Griffith agent about the many benefits of adding fixed annuities to your portfolio.