SmartStart
Every parent wants their children to have the very best start in life. When it comes to how to make that goal a reality, parents should consider the SmartStart plan, offered through Symmetry Financial Group. This program gives your child a head start on saving for their college education, the down payment of their first home, and even their retirement, all while giving them the protection of life insurance.
The SmartStart plan is a way to help you set aside funds to protect your child's future while protecting their insurability, regardless of what happens later in life. The SmartStart life insurance policy provides insurance coverage for your child, coupled with a cash value savings component, which is certainly a smart start.
Why Do I Need SmartStart?
It can be tough to save money for your child's future; SmartStart aims to make that a little bit easier.
SmartStart goes beyond education expenses: in addition to using funds to help pay for the cost of college, available cash value can be used at any point in your child's life. If they want to use funds for a down payment on a home, they can do so! When it's time for them to retire, if the policy is still in force, they can even create a retirement income stream from their SmartStart policy.
How Does The SmartStart Plan Work?
By setting aside a small amount of money every month or quarter starting when your child is young, you can help them set aside cash for future needs while providing valuable insurance coverage.
A portion of your premium payment goes to pay the cost of life insurance coverage. The balance becomes part of the policy's cash value, which accumulates and grows tax-free.
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What is the difference between mortgage protection insurance and homeowners insurance?Mortgage Protection Insurance: • Makes your premiums in case of job loss* • Money goes to your family • Pays your mortgage if you become sick or injured • Money your family receives is tax free • Is portable – new home? It travels with you *Available in most states. Limitations may apply. Benefits and carriers will vary for coverages and are subject to underwriting approval, product limitations and availability. Home Owner's Insurance • Damage to your home in severe weather and water conditions • Theft of your belongings • Vandalism of your house and property • Fire damage to your home • Personal injury lawsuits if someone gets hurt on your property
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Do I qualify for mortgage protection insurance?In most cases, yes! Mortgage protection insurance has a very high acceptance rate as most plans are offered with simplified underwriting (you won’t have to take a medical exam to qualify).
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When should I buy mortgage protection insurance?If you have a mortgage on your home, or if you are in the process of obtaining a mortgage, you should consider buying mortgage protection insurance.
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Can I afford mortgage protection insurance?Mortgage protection is one of the most inexpensive types of insurance, and it’s often a more affordable option than purchasing a separate whole life policy to pay off your mortgage in the event of your death.