North Carolina Life Insurance
Find the right life insurance policy for you.
Written by
Ann Herro has been writing about insurance and employee benefits for over 15 years. She has covered topics as easy as insuring a car, and as difficult as transparency in healthcare costs.
While some of us like to entertain the idea of living forever, the fact remains that it’s only an idea. We will all die one day, and while it may not be an easy task to mentally prepare for the end, it’s easy to do financially. Although it’s not as much fun as taking your family to the NC coast or hiking the trails around the Biltmore Estate, purchasing North Carolina life insurance helps protect those you love the most after you’re gone. But how do you know which policy is right for you?
When you work with an independent insurance agent in our network, you have a reliable guide who can help you find a policy that works now. If you need to change your policy at any time, your independent agent can help you analyze the changes in your life and can make professional suggestions based on your personal needs. Contact an independent agent today to find a life insurance policy that works for you and your family.
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Top 10 Causes of Death in North Carolina
- Cancer
- Heart disease
- Stroke
- Accidents
- Chronic lunch disease
- Alzheimer’s
- Diabetes
- Nephritis/kidney disease
- Influenza and pneumonia
- Blood poisoning
Do I Need North Carolina Life Insurance?
Life insurance isn’t required by law like auto insurance or homeowners insurance, but that doesn’t mean it isn’t a wise purchase for most consumers. It really depends on your personal situation. Life insurance is simply a way to financially support your family when you’re gone. Life insurance can cover your end of life expenses, such as funeral costs, or it can pay for a financial legacy for your children for years to come. Permanent life insurance policies even have an investment option. The great thing about life insurance is that there’s a policy for everyone.
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What Is Term Life Insurance?
Term life insurance can be purchased for a certain time period. It’s the most affordable option available to you. Time periods will range anywhere from five to thirty years. If you haven’t died by the completion of your term, you can renew the policy. If you die, your elected beneficiaries will receive a death benefit in the amount of your choosing. Amounts can be as low as $5,000 and range all the way up to $1 million. Your premiums will be determined by the length of your policy as well as the death benefit amount, although other factors like your age and health will be taken into consideration as well. If you want to change your term life policy to a permanent life policy, that’s also possible.
What is Permanent Life Insurance?
This life insurance policy is similar to term life insurance, but it lasts for your entire life or at least until age 100. Your beneficiaries will still receive a tax benefit, but you also have bonus options with permanent life insurance. Although this policy costs more, the investment component and tax-deferred status might be worth it. Your premium funds your policy and also builds cash value, tax deferred. You can also tap into this money at any time, so flexibility is another bonus. There are two types of permanent life insurance:
- Whole life insurance: This policy has steady premiums and rates of return, which is ideal for a risk-adverse investor.
- Universal life insurance: This policy’s rate of return fluctuates with the market, but you have the flexibility of stopping premiums at times or paying extra if necessary.
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Finding the right North Carolina life insurance can be difficult, especially if you aren’t sure which policy is right for you. When you work with an independent agent, you can discuss your needs and how you’d like a life insurance policy to provide for your family. Based on your personal information, an independent agent can compare various North Carolina life insurance quotes to find the best policy which also meets your budget.
To get North Carolina life insurance today, contact an independent agent in our network.