Life Insurance

As an adult, you have an obligation to protect the people in your life. What will happen if you’re gone and unable to provide for your dependents? The answer is you need a life insurance policy. SBHS makes it easy to get started.

As an adult, you have an obligation to protect the people in your life. What will happen if you’re gone and unable to provide for your dependents? The answer is you need a life insurance policy. SBHS makes it easy to get started.

What Is Life Insurance?

Life insurance is a financial safety net that ensures your loved ones are financially secure in your absence. It’s an agreement where an insurer pays a predetermined sum to your beneficiaries upon your death, in exchange for regular premium payments from you. Life insurance policies can also offer cash value accumulation for additional financial flexibility. Essentially, it’s a straightforward way to protect your family’s financial future and provide peace of mind. 

Why Do You Need Life Insurance?

Life insurance can feel complicated, but it’s actually quite simple. When you buy a life insurance policy, you must pay monthly or yearly payments to the company, known as premiums. It ensures a secure future for your family after your demise. Here are some of the benefits:

  • The death benefit payouts are tax-free
  • Life insurance can help cover your funeral expenses
  • It can help cover your terminal and chronic illness debts


The cost of life insurance depends on the factors like age, sex, health, and lifestyle. For instance, if you’re a smoker or you take up a risky hobby like skydiving, your life insurance rates will be higher. And when it comes to choosing a beneficiary who will benefit from this policy, you can either choose one single person or multiple beneficiaries, each receiving a fixed percentage of the benefit.

After the death of the policyholder, their beneficiaries can contact the insurance company after completing all the paperwork, including the death certificate and the copy of the policy. The money usually transferred within 30 days after the initiation.

The Two Primary Types of Life Insurance

There is a wide market when it comes to life insurance policies. However, there are two major types of life insurance that you can benefit from.

Whole Life Insurance

  • Whole life insurance is a life-long policy that starts from when you buy it to the time you pass away as long as the premium are paid timely.
  • Whole life insurance includes a cash value element that grows tax-deferred.
  • Upon your death, your beneficiaries are paid money, called the death benefit.
  • If your health changes, you can access the cash value while you’re still alive.
  • It’s more expensive than term life insurance due to its permanent duration.

Term Life Insurance

  • Term life insurance is a policy that you buy for a fixed amount of time, for example, 10 or 20 years.
  • This policy provides a death benefit only if the insured dies during that specified period when the policy is still active.
  • There is no cash value; only death benefits will be given to the beneficiaries.
  • Term life insurance is much less expensive than whole life insurance, perfect for young families.

Protect Your Loved Ones with Life Insurance.

You’ve now seen the benefits and financial security life insurance can give your dependents if something were to happen to you. Still, there are many challenging things when figuring out which policy type, company, and coverage amount are best for your situation.

With SBHS, you can sign up for life insurance with zero complications and risks. Contact our licensed insurance agent today — our service is FREE of charge.

Get a Life Insurance Quote Today

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