State Farm Agent Vince Pascoe Achieves 1,000 Families Protected

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State Farm insurance agent Vince Pascoe reaches 1,000 families protected and lists the top three tips regarding common misconceptions about life insurance.

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Vince Pascoe

My first piece of advice to anyone considering insurance is lock yourself into permanent insurance when you’re young so you can afford it when you’re older.

Vince Pascoe, an insurance agent with State Farm, is proud to announce he recently reached 1,000 families protected. “My first piece of advice to anyone considering insurance is lock yourself into permanent insurance when you’re young so you can afford it when you’re older,” said Pascoe. “Also, keep in mind that life insurance doesn’t last forever.”

In honor of Life Insurance Awareness Month in September, Pascoe lists the following three common misconceptions regarding life insurance:

No. 1: You don’t need it if it’s provided at work. “People often falsely believe that they don’t need to worry about life insurance because they get it from work,” said Pascoe. “However, it’s usually not enough; sometimes, it’s only about $25,0000. People of all ages need to be aware of the plan they’re on, and seek out external coverage.”

No. 2: You don’t have to service the life policy. “You do indeed have to service the life policy,” stressed Pascoe. “That’s why I follow up with all my clients to make sure they’re assessing if they need the coverage.”

No. 3: You don’t need much coverage. “In fact, in the industry, a common statement is that ten times your income is the rule of thumb for life insurance coverage,” said Pascoe. “I believe in the LIFE acronym, which means loans, income, money for funerals (your own and other family members), and education, which is money for a spouse to further their education, or if you want to have money for your kids to continue their education.”

The four legs to a good plan examines risk and need. There are many other needs, just as important, but not listed below. Here are some ideas to consider:

Loans are a great risk to our future, and devastating to a family if they are not able to be paid. The common debt types are mortgages, vehicle loans and leases, school loans, and other personal loans along with credit card debt.

Income loss is very important to any plan to sustain a household after the loss to the income provider of one’s family. A plan including 5 to 20 years of income loss, depending on one’s circumstances, is average.

Final expenses, medical expenses and/or emergency expenses can be much more than one expects. Some long-term planning is important for these expenses that may not be incurred up to 40 to 60 years in one’s future.

Education for family members is important for many households. “Money for a spouse to further their education or your kids to complete their education are important in many household plans,” concluded Pascoe.

About Vince Pascoe, State Farm
Vince Pascoe offers auto, home and property, life and health insurance, as well as banking products, annuities and investment services. For more information, please call (412) 486-1216, or visit The office is located at 1501 Mount Royal Blvd., Suite 101, Glenshaw, PA 15116.

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