Welcome to GET LYFE, your trusted advocate in life insurance solutions.
GET LYFE™ is a licensed insurance brokerage pioneering the financial realm through innovative fintech solutions. With a focus on life insurance, annuities, and financial education, GET LYFE™ seamlessly merges technology and finance, empowering users to make informed decisions, build legacies, and secure their futures.
Founded by Clarence Holmes GET LYFE was created to address the lack of tailored services and support for minority communities. Our passion for empowering individuals and families led us to develop an inclusive approach that simplifies the complexities of life insurance and educates our clients on the importance of financial protection.
At GET LYFE, our mission is to help you understand and obtain life insurance that meets your unique needs. We believe that everyone deserves the peace of mind that comes with knowing their loved ones are protected, and we are committed to making the process simple and accessible for all.
GET LYFE ADVOCATE & Founder
"Its crucial that we build a strong financial base for our future generations".
Why We Advocate
At GET LYFE, we are passionate advocates for obtaining life insurance because we recognize the importance of financial security and protection in building a strong foundation for future generations. We especially understand the unique challenges and concerns faced by minority communities and are committed to bridging the knowledge gap by providing accessible, culturally sensitive, and personalized insurance solutions. By no means do we only service minorities, We welcome all individuals and families who are interested in building family legacies. Our goal is to empower individuals and families through education, support, and tailored guidance, ensuring they make informed decisions about their financial future and leave a lasting legacy for their loved ones.
about 54% of African Americans and 39% of Hispanics in the United States had life insurance coverage, compared to 62% of the general population.
According to the Federal Reserve's Survey of Consumer Finances, the median net worth of white households in 2019 was $188,200, while the median net worth of Black households was $24,100. This means that the median wealth of white households was nearly eight times greater than that of Black households.
The stats are real
While life insurance alone cannot entirely close the wealth gap, it can play a significant role in reducing financial disparities and providing long-term financial security for minority communities.
Here are several ways life insurance can contribute to narrowing the wealth gap:
Financial protection for loved ones: Life insurance provides a financial safety net for beneficiaries in the event of the policyholder’s death. This support can help cover expenses such as funeral costs, outstanding debts, and ongoing living expenses, preventing families from falling into poverty or facing financial hardships.
Wealth transfer and legacy building: A life insurance policy can serve as a means to transfer wealth to future generations, helping to build and preserve a family’s financial legacy. This can create opportunities for education, homeownership, and business ventures that may have been out of reach without the financial support provided by life insurance benefits.
Forced savings mechanism: Some life insurance policies, such as whole life and universal life, incorporate a cash value component that grows over time. Policyholders can access this cash value to fund significant life events, such as purchasing a home or funding higher education, contributing to wealth accumulation and financial stability.
Tax advantages: Life insurance proceeds are generally not subject to income taxes, allowing beneficiaries to receive the full death benefit without additional tax burdens. This can significantly impact the financial well-being of the beneficiaries, as they are not losing a portion of the benefit to taxes.
Encouraging financial planning: Purchasing life insurance often prompts individuals to think about their long-term financial goals and engage in proactive financial planning. This can lead to better money management, increased savings, and a focus on wealth-building strategies.
By providing financial protection, promoting wealth transfer, and encouraging financial planning, life insurance can contribute to reducing the wealth gap over time. However, it is essential to consider other factors, such as access to education, employment opportunities, and fair housing policies, to address the wealth gap comprehensively.
Our Blog Tips and Tricks
When we think of insuring our children’s futures, education often comes to mind. However, what if we told you there’s a financial tool, overlooked by many, that can offer both protection and future financial growth? Whole life insurance for your child is that tool. Taking this step before your child turns 15 can provide benefits that extend well into their adulthood.
Navigate the murky waters of “Buy Here Pay Here” auto dealerships with our latest blog post. We delve into the drawbacks of these dealerships and offer tips to secure a better deal, even with less than perfect credit. Make an informed decision and drive away with a deal that doesn’t break the bank!
Conquer your financial fears and take control of your money with our comprehensive guide. Learn practical strategies for budgeting, tackling debt, building an emergency fund, and more. Step out of fear and step into financial stability with GET LYFE.
Speak with an Advocate!
Ready to take the first step towards securing your future? Reach out to our friendly team today, and let GET LYFE guide you on the path to confidence and security.