Life Insurance

Thinking about your own death can be difficult, but it’s an essential part of planning for the future—especially if you are married, have children or have significant debts. Life insurance can help you and your family feel secure, knowing they will be financially protected when you pass away. This coverage can prevent your family from experiencing financial hardships after your passing.  

What Is Life Insurance? 

Life insurance can provide financial security for your household in the event of your death. If you are married, both spouses should have a life insurance policy, especially if both people bring in an income. Death in that situation could be a difficult financial loss for your household. A life insurance policy can provide the funds to cover expenses such as childcare and other domestic costs.  

Types of Life Insurance 

There are two basic types of life insurance.  

Whole Life Insurance

Whole life is the most basic type of permanent life insurance. It provides long-term coverage and also builds up a cash value that you can borrow against, withdraw or use to pay future premiums.  

A life insurance policy with a cash value is ideal for those who have a lifetime need for insurance protection, prefer stable premiums over the life of the policy, want a policy that allows them to build tax-deferred values and value the high degree of coverage the policy affords. Rates for a whole life insurance policy typically remain stable over the life of the policy.  

Term Life Insurance 

Term life insurance covers you for a specific period of time, or term, of your choice. Term life insurance is a way to protect your beneficiaries for a specified period.  

Renewal term life insurance can be renewed at the end of the term at the option of the policyholder and without evidence of insurability for a limited number of successive terms. It can also be converted or exchanged for a permanent insurance policy without evidence of insurability down the road. Rates also generally increase along with the insured’s age. 

Contact Us Today 

At Carolina Capital Insurance Group we want to help you obtain the coverage best suited for your needs. Contact your agent today to speak about why you need a life insurance policy to plan for the future.