Life Insurance

Life insurance is used as a protection against the loss of income that would result if the insured passed away. The named beneficiary receives the proceeds and is thereby safeguarded from the financial impact of the death of the insured.  Tom Steele has over 20 years of experience in the research, analysis, selection, and utilization of life insurance.  Click Here to get an instant life insurance quote from Steele Financial Services powered by CompuLife.

The goal of life insurance is to provide a measure of financial security for your family after you die. So, before purchasing a life insurance policy, you should consider your financial situation and the standard of living you want to maintain for your dependents or survivors. For example, who will be responsible for your funeral costs and final medical bills? Would your family have to relocate? Will there be adequate funds for future or ongoing expenses such as daycare, mortgage payments and college?

It is prudent to re-evaluate your life insurance policies annually or when you experience a major life event like marriage, divorce, the birth or adoption of a child, or purchase of a major item such as a house or business.  Life insurance can be a critical tool in ensuring the standard of living for your family and helps guard against the damaging financial circumstances that can be caused by the estate tax or an untimely death. 

In some instances, a Key Man Life Insurance policy may be the best option to protect a business, farm or ranch against the loss of its owner or leader.   Key Man Life Insurance can also be an important financial tool for many multi-owner businesses and farms, as the insurance can be used to fund buy-sell agreements.

Call Tom Steele to learn more about the numerous life insurance products that are currently available through top-rated companies.  Selecting the right one could mean the difference between your family maintaining or improving their quality of life after your death, versus additional hardship caused by inadequate or poor life insurance coverage.

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South Dakota: (605)847-5002