What types of life insurance are available?

Life insurance provides financial protection for your loved ones in the event of your death. In North Carolina, there are several types of life insurance that may be available to you. The most common type of life insurance in North Carolina is term life insurance. This type of coverage pays out a death benefit if the policyholder dies within the pre-defined term of the contract. Term life insurance is usually the least expensive type of life insurance. Another type of life insurance that many North Carolinians have is permanent life insurance. This type of life insurance provides coverage for your entire life. It includes a death benefit as well as a savings component. A portion of the premiums paid goes towards the savings component, which can grow tax-deferred. Finally, North Carolinians may also purchase disability insurance. This type of life insurance will provide financial protection if you become disabled and unable to work. The policy will provide a monthly payment to help cover any lost income due to disability. No matter which type of life insurance is best for you, it’s important to understand the policy and coverage before you purchase it. Be sure to compare multiple life insurance policies to find the coverage and premiums that best meet your needs.

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What types of life insurance are available?

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