Life insurance should not be an option if you live in North Carolina. Such is especially true of breadwinners who have others depending on their income to pay the bills. The agents at Glick Insurance understand the importance of financial stability, which is why they are happy to explain your options for life insurance.
There are essentially two types of life insurance policy options: term insurance and whole indemnity coverage.
Term life insurance provides financial coverage in the instance of your death. A policy does not come with any perks while you are living but, nevertheless, is the more affordable option. Individuals who need a lot of coverage without the high monthly premiums may select a term insurance policy that pays enough for the family to pay bills and live comfortably after the policyholder’s passing.
Those who are looking for a financial cushion while living may do well to look into a whole life insurance plan in North Carolina. Whole life insurance usually requires a physical exam and calls for higher monthly premiums. The benefits that come with a policy, however, are significant.
It is not uncommon for individuals with whole life insurance to use the interest that accrues from timely payments on unexpected expenses or planned vacations. You may also be able to borrow against your policy when financial emergencies arise, and the interest is not enough.
The amount of life insurance protection you purchase largely depends on your lifestyle preferences. It may also be a good idea to consider your bills and the importance of leaving a financial cushion for loved ones after your death.
The agents at Glick Insurance can help you understand the details about life insurance. Call today to get a quote for coverage.