“Too Young” for Life Insurance?

For many people, life insurance is only important when you get “old.” I used to believe that, until I realized that seemingly solid finances can take a sharp turn at any moment. The sudden death of your spouse will definitely sting on every emotional level, but what happens to the household finances when that happens? Many young couples and families become financially crippled due to the lack of planning.

After her husband was hit while riding his bicycle and later died from his injuries, Chanel Reynolds said, “I was finding it really hard for me to stay present and in the room and to be able to hear what the doctors were saying because I was so overwhelmed with not knowing how much money we had in our checking account, and the fact that we had our wills drafted but not signed.” She also added that she was unsure of whether she was going to be able to care for a family by herself. Although not a large policy, Ms. Reynolds was saved from financial ruin because of life insurance.

It is not surprising that Ms. Reynolds’ quality of life was preserved due to a life insurance policy. The typical coverage amount for a policy is often determined by either the net worth or a multiple of the annual income generated by the applying for the policy. With the income from her husband’s policy, Ms. Reynolds was able to gain some time in order to figure out their mortgage situation along with other bills, keep her son in the same school, and give her time to look for secure employment.

Aside from crises, there are other benefits to buying a life insurance policy while you are young. You are able to open up more options in payment type, which can provide you with lower premiums or even shorten the amount of time that you would have to pay those premiums. Since health risks do commonly increase with age, life insurance policies generally get more expensive to purchase down the road. Life insurance policies can also be another way of saving for retirement, especially if other options are not available to you. Tax-deferred strategies are really popular among other savings vehicles, and life insurance policies provide this as well.

Whether this is all new to you or you are seasoned in life insurance, make sure to do some research on your own. A great place to start is with the nonprofit Life and Health Insurance Foundation for America. You are never too young to begin thinking about your future. You are never too young to begin planning.

For more information visit www.sslco.com or call us at 800-247-1423.

Blog written by: Thy Mims, Marketing Communications Manager for Sentinel Security Life Insurance Co.

*Sources
[1] Lieber, Ron. “YOUR MONEY; A Shocking Death, a Financial Lesson and Help for Others.” The New York Times, 12 Jan. 2013. Web.
[2] “Why Single People Need Life Insurance Too.” DailyFinance.com. N.p., n.d. Web.
[3] “You’re Never Too Young for Life Insurance.” – MSN Money UK. N.p., n.d. Web.
[4] “You’re Not Too Young for Life Insurance.” Insurance and Health Care. N.p., n.d. Web.

Planning for Your Future

The beginning of a new year is the perfect time to reflect upon the year that just passed and to plan for the year ahead. For most people, these plans are related to finances, health and family. These may seem like three different matters, but for many people all three are interwoven and each one plays a role in the total outcome. Sentinel Security Life offers products that address all three aspects of your family’s well-being. You need to ask yourself, will your family be able to afford all the expenses if you were suddenly not around to provide for them? This is a daunting but necessary question to ask when planning for your family’s future.

Sentinel Security Life offers several products including Life InsuranceMedicare Supplemental InsuranceHospital Advantage and Annuities. Our focus is to provide you with the options that can address your family’s finances, health and overall security. Our products can provide you with the peace-of-mind that you are seeking.

After reviewing our products, it is important that you find a qualified and licensed professional that can assist you in selecting a policy that will meet your family’s needs. Sentinel Security Life has many licensed agents in your area, and are able to answer any questions you might have. For additional information on any of our products, please visit us at www.sslco.com or call 800.247.1423.

Blog written by: Thy Mims, Marketing Communications Manager for Sentinel Security Life Insurance Co.

How is Sentinel Helping Seniors?

Although I have spent the last 15 years in the insurance industry, I am relatively new to the rapidly growing category often referred to as the “Senior Market.” As part of my career development in this marketplace, I am fortunate to work for a company that has dedicated itself to providing solutions to this specific category of insurance consumers.

Sentinel has long been known for providing our New Vantage™ Life insurance as a way to help seniors pay for final expenses. A few years ago we added the Sentinel Plan® Medicare Supplement that helps pay some of the health care costs that original Medicare doesn’t cover including co-payments, co-insurance and deductibles. Last year, we released our Personal Choice Annuity™, which is a unique solution that allows consumers flexibility when planning for their retirement.

Over the past few months I have been fortunate to be involved in the development of a new product called the Sentinel Plan® Hospital Advantage Plus™, which has an anticipated release date of October 1, 2012. This product pays a cash benefit to our policyholders for expenses resulting from hospital stays, emergency room visits, surgeries and physician office visits. Typically, these are expenses that are not covered under existing insurance policies (such as Medicare Supplement and Medicare Advantage).

For example, let’s consider the financial impact of a hospital confinement. If you have original Medicare you would be responsible for a $1,156 Part A deductible before receiving any benefit. If you have a Medicare Advantage plan, you would be responsible for a $250 per day (for days 1-5) coinsurance. However, if you have the Sentinel Plan® Hospital Advantage Plus™ you would receive a cash benefit of $250 per day (for up to 5 days). If your hospital stay lasted 5 days, you would receive $1,250 in your pocket.

Some of the other benefits provided by the plan include payments for expenses related to Ambulance Services, Emergency Room Care, Outpatient Surgical Services, and Primary Care Physician Office Visits. There are even benefits for Wellness Visits and Preventative Care Services. This new product is another example of the ongoing commitment we have at Sentinel to help our senior policyholders manage the various costs associated with today’s economic environment.

I am happy to be part of a company that is growing and developing with an eye focused on the needs of our current and future policyholders. For additional information on the Sentinel Plan® Hospital Advantage Plus™, or any of our existing insurance products, please visit us at www.sslco.com or call 800.247.1423.

Blog written by: Dan Hudgens, National Sales Manager for Sentinel Security Life Insurance Co.

Life Insurance Awareness Month

The Life and Health Insurance Foundation (LIFE), a non-profit organization dedicated to helping consumers make informed decisions about insurance has designated September as Life Insurance Awareness Month. Life insurance should be a necessary part of your family’s financial plan but unfortunately, up to 30 percent of US households have no life insurance whatsoever.*

Why is having life insurance so important? Ask yourself if your family could manage their financial needs without you. If the answer is no, then take a few moments to consider how life insurance could help ease the financial burden on them if you were suddenly not there to provide. While there are different types to choose from, most plans will pay your beneficiary a cash amount (called a death benefit) to take care of final expenses, burial costs, flowers, obituaries or any other cost they see fit. They may even choose to pay off lingering medical bills, tax debt or pay off the mortgage. It’s up to them.

After you’ve decided to purchase insurance, it’s important that you find a qualified and licensed insurance professional to help you pick a policy that best fits your needs. The LIFE foundation offers several helpful tools on their website that can help you figure out what kind of insurance you need, how much of it you need and what important questions to ask before purchasing an insurance product. Sentinel also has many licensed agents in your area and we have specialized in final expense insurance since 1948. Sentinel offers three whole life plans which upon qualifying, can accommodate you at every stage of your life, whether you are raising a family or enjoying retirement with your spouse. Sentinel has been offering peace-of-mind and security to our clients for over 60 years.

Please visit us at www.sslco.com or call 800.247.1423 if you would like a Sentinel agent referral or if you’re looking for more information.

Blog written by: Amy Mullen, Marketing Communications Manager for Sentinel Security Life Insurance Co.

*Source:
1. 2012 Life and Health Insurance Foundation for Education (LIFE) webpage, http://www.lifehappens.org/life-insurance-awareness-month/

 

Why Sentinel?

As President of Sentinel Security Life Insurance Company, I’m often asked, why I stand behind this company? Why Sentinel?

We have our business answers of course. We have been serving the needs of the senior community for over 60 years by offering affordable final expense whole life policies to ease the stress of losing a loved one. We’ve expanded our product line to include Medicare Supplement and Select Options and just last year, we released our fixed annuity product that offers our customers some of the highest crediting ratings around. Those are all great reasons to choose Sentinel but I like to focus on one of our greatest company assets: our people.

Visit our corporate office in Salt Lake City, Utah and on every floor, at least three to four of our home office employees have been with our company for 20+ years—some of them for over 30 years. Why do our people stay so long? Because they love what they do—they work hard to provide the absolute best customer service in the industry and they help our senior clients find the peace-of-mind and security that they are looking for. Our people are what make Sentinel stand out from the crowd.

If you aren’t familiar with Sentinel Security Life Insurance, I encourage you to check out our website at http://www.sslco.com where you will find a common list of Frequently Asked Questions about our products and services. Even better, give us a call at the corporate office (855-478-4037). Our wonderful people will be here to answer.

Blog written by: Earl Tate, President of