Category: Life Insurance

Estate planning is an important task that anyone can take on at any point in their lives. In fact, our team at Craig Insurance Group recommends getting started with your Raleigh, NC estate planning as soon as you’re able to. That’s because while life insurance and estate planning aren’t quite the same thing, they go hand-in-hand, and the younger you are, the more cost-effective you’ll find life insurance policies. 

How Life Insurance Assists With Estate Planning

Estate planning is generally known as the process of organizing and arranging a person’s affairs so that they are properly distributed and managed upon one’s death. You can work with an estate planning attorney, financial advisor, or similar professional without the need for a life insurance policy to create your estate plan and final will and testament. However, life insurance often plays a valuable role for the following reasons:

• Ensuring financial protection for loved ones without taxes. Life insurance policies are primarily bought for their listed death benefit. This death benefit can be paid out to your listed beneficiaries with the huge advantage of not being taxable. 
• Making charitable contributions easier. If you have certain charities that are near and dear to your heart, then a life insurance policy can offer an easy way to ensure that you invest in them and leave that legacy as part of your estate planning. 
• Streamlining end-of-life payments. In some cases, a policyholder might have certain expenses and outstanding debts that will need to be paid, such as end-of-life care and funeral costs. Life insurance policies pay out quickly, ensuring that those debts can quickly be cleared. 

Contact Our Team to Learn More

 While we can’t set up your Raleigh, NC estate, our team at Craig Insurance Group can help you find that perfect life insurance to partially or even wholly fund it. 

Life insurance can be a difficult topic, both emotionally and practically. With eight different types of life insurance available, how would you know which is the best option for you? At Craig Insurance Group, we’re committed to helping people just like you navigate the world of life insurance, so they walk away with a policy that suits their needs. We’re happy to serve the Raleigh, NC area, and appreciate all of our clients.

There are three main types of life insurance that you may be interested in exploring:

1) Term Life Insurance

Cheaper than other types of life insurance, term life insurance lasts for a set number of years. You make payments when you buy the insurance and your beneficiaries receive the money once you’ve passed away. If this occurs before the term is over, a set amount of money will be paid to your beneficiaries, typically in a lump sum.

2) Whole Life Insurance

Unlike Term Life Insurance, this insurance does not expire. Instead, there is a death benefit and a cash value, essentially an investment-like savings account. You will be covered as long as your premiums are paid.

3) Universal Life Insurance

Much like Whole Life Insurance, Universal Life Insurance is set up with a death benefit and cash value. It should be noted, however, that the interest rate on Universal Life Insurance is influenced by the current market rate. Therefore, if the interest falls below a minimum threshold, your premium will have to rise in order to make up the difference.

Give Us A Call

Contact us today at Craig Insurance Group to speak to one of our qualified agents about your life insurance options. We’re proud to serve the Raleigh, NC area and are available to help you navigate the world of life insurance.

Many people believe that life insurance is only important for the elderly, but the truth is, having life insurance at any stage of life can give the insured and their beneficiaries unparalleled peace of mind. 

There are many reasons why people of all ages should carry life insurance.  The team at Craig Insurance Group in Raleigh, NC can answer your questions and help determine what plan fits your circumstances the best. Unexpected illnesses and accidents are a sad fact of life. Here are some basic reasons why life insurance is so vital for people in early adulthood or middle age:

• You are getting married and starting a family: More likely than not, your spouse and children rely on your income.  If you pass away, the benefits of a life insurance policy can help pay bills, removing undue financial stress from your family
• You are incurring large debts on items like cars and houses: Life insurance benefits could help your loved one pay off cars, homes, and even student loans or other debt
• You don’t have funds set aside to cover funeral expenses: Life insurance can solve this problem for your family and take a huge financial burden off their plates
• Your employer might not offer sufficient coverage: Many employers offer life insurance. However, this coverage is likely to be minimal, these policies also end when your employment does.  Having an individual policy will guarantee consistency and that you have coverage that is sufficient for your needs. 

If you don’t have life insurance and want to learn more about the options available, or even if you do have life insurance but think you need to make some adjustments, contact us at Craig Insurance Group in Raleigh, NC. 

For over 12 years, Craig Insurance Group has helped the Raleigh, NC community find the insurance coverage they need to protect what matters most. We are committed to establishing long term relationships with all of our clients. We will help you assess your coverage options.

Life Insurance

Life insurance allows you to start planning for the future when you will not be around. While it’s uncomfortable to think about, you have to establish a plan for how you would like your assets transitioned after you pass away. Life insurance can help ensure a smooth transition after you pass away and help alleviate some of the stress that your loved ones may feel managing your estate. You’ll have to sit down and figure out which policy is best for you, considering your situation.

Whole life policies provide coverage for an extended time period. Term life policies provide coverage over a specified period of time. You can add coverage for intervals normally between 10 and 30 years. Variable life insurance policies are flexible and provide more options for growth. Universal life insurance also provides flexible policy options and gives you more control over how you would like things handled.

As you research different policies, you have to assess your personal situation. If you are single right now, you have to think about if you would like to start a family in Raleigh, NC one day. Even if you choose not to start a family, life insurance will still help your loved ones manage the aftermath of your passing. If you have already started a family, you will have to think about the legacy that you would like to leave behind for them.

Craig Insurance Group Will Help You Plan For The Future

For more information on life insurance, visit our website today!