While everyone should have life insurance, with the evolution of the marketplace, there are numerous types of life insurance each offering specific benefits. It’s primary goal is to cover the survivors of someone who has passed away. It can be used to cover funeral expenses, outstanding debts, and to replace lost income.
The most basic type of life insurance is Term insurance. Through paying a fixed premium on a monthly basis, the insured receives a guarantee from the insurance company to pay a fixed amount to the insured’s beneficiaries upon the insured’s death. The industry has evolved and offers many other versatile products which in addition to a death benefit, may accumulate cash value. These products include Whole life insurance, Universal life insurance and Variable life insurance. Each of these has specific characteristics with the primary goal of providing your loved ones with financial security should you die prematurely and also accumulate as much cash value as possible to access on an income-tax-free basis.
Having the right life insurance is an important aspect of planning for the future of you and your loved ones. The necessity of life insurance depends on your own personal and financial needs. We can assist and help you determine the type and amount of life insurance that is appropriate for you and your family. We are able to compare the top-tier companies, providing you with the best options.
You may contact us at 704-746-6184 to speak with a licensed agent.