Hilton Head Life Insurance

(Find the right life insurance policy for you.)

Written by Christina Palermo
Written by Christina Palermo

Christina is a freelance writer and licensed insurance agent. She has worked in many facets of the insurance industry, from entry-level assistant to account manager/sales rep to vice president of operations.


Hilton Head Island is home to around 13,900 South Carolinians, and it is a very popular vacation spot, which dramatically increases the population to 150,000 during the summer months. The median age for Hilton Head residents is 57 years old, most have life partners (4.7%), and an even greater proportion (64.7%) are caring for young families. Whether you’re one of the Hilton Head folks who are taking care of a spouse and children, or you’re someone settling into the retirement years, you may be considering Hilton Head, SC life insurance to protect your loved ones and your financial stability. 

Picking the right life insurance can be a confusing task, but you don’t need to do it alone. Independent insurance agents in Hilton Head can help you figure out the best life policy for you and your loved ones. Find an insurance agent near you to learn more.

South Carolina Mortality Statistics

The average life expectancy in the US is 78.6 years. In the state of South Carolina, there are 10 common causes of mortality each year. 

  • Heart disease: 28%
  • Cancer: 28%
  • Accidents: 9%
  • Chronic asthma, bronchitis, and emphysema: 8%
  • Strokes: 7%
  • Alzheimer’s disease: 7%
  • Diabetes: 4%
  • Kidney disease: 2%
  • Blood poisoning: 2%
  • Pneumonia and influenza: 2%
  • Miscellaneous causes (e.g., suicide, homicide): 3%

Reasons to Have Life Insurance

The main reason Hilton Head residents should consider buying a life insurance policy is to provide financial support to their family should they pass away. Have you ever really thought about how your family would cope if you were no longer around to contribute financially? Would your spouse be able to cover the mortgage, car payments, and medical insurance? How would your children pay for their education? 

Hilton Head, SC Financial Stats

  • Estimated median household income: $70,466
  • Estimated median income per individual: $50,149
  • Median home or condo mortgage: $488,717
  • Median gross rent per month: $1,138
  • Average US college education at public institutions: $17,237
  • Average US college education at private nonprofit institutions: $44,551

Almost every American has some debts that will remain outstanding even after they’ve passed. It’s a popular myth that once you are gone then any money you owe is erased. Your survivors will inherit these debts and they’ll be expected to pay down your car loan, credit cards, and other costs. Plus, your loved ones will need to pay for funeral expenses and any accumulated medical bills still due after a long illness. 

Average American Funeral Expenses

  • Burial with a traditional funeral service: $15,000
  • Cremation with a traditional funeral service: $10,000 to $12,000
  • Cremation without a memorial service: $2,000

Life continues for your survivors, so it’s vital you leave them a life insurance policy that will ease their financial burden. 

Types of Life Insurance Policies

Life insurance coverage is available in two basic versions. These are the two most popular types: 

  • Permanent life insurance
  • Term life insurance

Permanent Life Insurance Explained

A permanent life insurance policy provides death benefits, as well as a savings/investment feature. Permanent life coverage is more expensive than a term life insurance plan because of this added financial perk. 

This type of life insurance comes in two formats: 

  • Universal life
  • Whole life

Permanent policies are meant to last a lifetime, which may be obvious based on the coverage name. Yet the cash value that grows on a tax-deferred basis on your permanent life policy can be used for things like paying future premiums, earning dividend payouts, or borrowing against the policy’s value. You can talk with an experienced independent agent in the Hilton Head area for more information. 

Term Life Insurance Explained

Term life insurance plans are the most popular types of coverage because of their affordable pricing and simple design. You normally buy this life protection for blocks of time like 5, 10, 20, or 30 years. You can also buy term insurance to cover you to a birthday like age 55 or age 65. Unlike a permanent policy, term life is only meant for death benefits and doesn’t have any type of savings benefit. 

Once your policy’s term is about to expire, you get the option of renewing the term coverage or converting it to a permanent life insurance plan. 

There are three different term life policies: 

  • Level term
  • Decreasing term
  • Increasing term

Talking with a local insurance agent can help clarify the different types of term life insurance and how each may benefit you and your loved ones. 


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Our independent agents shop around to find you the best coverage.

Selecting the Best Hilton Head, SC Life Insurance Policy

Most life insurance policies will ask you to complete a medical questionnaire that includes you and your family’s medical history. You may also need to go through a physical examination to check on your current health status. Life insurance coverage that doesn’t ask many questions and doesn’t ask for a medical exam is typically less expensive but also has fewer protections (e.g., low face amount, short term).  

Once you know which life insurance is best for you and your loved ones, you then must figure out the amount of death benefits needed. This dollar amount should take into consideration your current financial needs and any future needs. What things should you consider when buying life insurance? 

  • Funeral costs, estate taxes, etc. 
  • Medical bills 
  • Total debts (e.g., mortgage, car loans, credit cards)
  • Surviving spouse’s estimated annual living expenses
  • Surviving spouse's annual income
  • Surviving spouse’s current age
  • College fund for surviving children
  • Emergency fund amount needed
  • Total investments or retirement funds

Get Help from a Hilton Head, SC Independent Insurance Agent

One of Hilton Head’s independent insurance agents can find the best life insurance policy for you and your family. The agent can get a variety of life insurance quotes from different companies. You can go over the information with your local agent before picking the perfect plan. 

Contact an independent insurance agent today for help selecting a Hilton Head life insurance plan. Your loved ones will be so grateful that you did. 

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