What You Need to Know

The right plan is important in preparing for the future of you and your family. Life insurance will help you meet financial obligations for when you are gone.

The future of your loved ones need not be left to chance. Select Source Insurance Group can help you choose the right policy. We can help ensure that your policy will meet your needs in the future. We have over 25 companies to shop for the best plan.

Life Changes — Your Plan Should Change Also

The right life insurance plan will be suited for your financial and personal needs. When your life changes, your life insurance plan may need to be adjusted in order to stay current. Some life changes that may need a policy “tune-up” and our help include: 



• You recently purchased a new home
• You have a new child or grandchild
• You have opened or expanded a business
• You have refinanced your home mortgage in the past six months
• Deteriorated health for you or your spouse
• Financial assistance that you provide to a parent
• Children or a grandchild requires long-term care or special needs
• You recently divorced or seperated
• Planning for a child or grandchild’s education
• Planning for retirement income
• An inheritance has been received by you or your spouse
• You have an estate subject to taxation and other needs

What Are The Benefits Of Life Insurance?



Obtaining the right plan is imperative to planning for the present, and the future. A plan can furnish assurance for your family after you are gone. Many life plans offer other investments and benefits you can take advantage of while you are living.

• Advantages of the life insurance death benefit: Life insurance provides income tax-free money when you pass away. This money goes to your beneficiaries. This money can be used to pay debt, funeral expenses, tuition, or any financial need. Your plan can provide security for your business as well. It can make resources available to partners to buy out the interests of a deceased partner.

• Advantages of Living Benefits: The investment growth of a permanent (whole) life insurance policy is tax-deferred. That means you do not pay taxes on the growth of cash value, unless money is withdrawn. Withdrawals or loans can be taken against the cash value of a whole life insurance policy to help with costs, like a down payment on a home or college tuition.

The right life insurance plan for our neighbors in South Carolina is unique – talk with the Select Source Insurance Group team at 864-585-8318 x2 today to find out how we can help protect your family and your future with the right plan.

Term Life Insurance

• Term life insurance provides you protection for a specific price over a specified period of time: usually 10, 15, 20, or 30 years.
• Coverage expires without value at the end of the term.
• To continue with coverage you will need to either convert your policy to a permanent life insurance plan or purchase a new policy.
• Term life insurance pays out a specified lump sum to a beneficiary only in the event that you die before the policy expires.
• Term life insurance is less expensive than permanent live insurance due to the drawback of having an expiration date.

Different types of term life insurance are available for you. Let us modify a plan to fit your needs. We can provide you the maximum amount of protection for the least amount of premium.

• Annual Renewable Term: The death benefit is a level amount and will remain the same for the term period. This policy can automatically be renewed. And you don’t have to provide evidence of good health each year. The premiums may however increase each year with age.
• Level Term: The death benefit is a level amount and will remain the same for the term period. Level term policies are usually purchased for a period of 10, 20, or 30 years. The premium generally remains stable over the entire period.
• Decreasing Term: The premiums remain level over a specific term. However, the amount of death benefit protection decreases throughout the term. Decreasing term insurance is best for you if you have a loan that decreases over time such as a mortgage or a loan.