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.