Life Insurance in North Carolina
The Craig Insurance Group offers a variety of life insurance policies from Nationwide Insurance to those living in Raleigh, Durham, Cary, Chapel Hill and the greater Triangle area. It may be hard to think about, but we are all only on this earth for a short time. When you pass on, you will leave both loved ones and bills behind. Life insurance is the only way to insure the former (family) doesn’t get stuck with the latter (debt).
Not all lives are the same, so not all life insurance will be the same. What makes the most sense for you and your family depends greatly on your circumstances. The first order of business to address if you are considering any type of life insurance is to have a no-obligation needs analysis completed by our life insurance department. This will help you determine, based upon your circumstances and goals, exactly how much life insurance is needed. Then you will need to decide what type of life insurance will work best for you and your family. Below are a few of the main coverage types to consider, but feel free to reach out to our life insurance department for information on what would best fit your needs.
Term life policies
Term policies provide coverage for a set amount of time and provide a set benefit to those left behind in the event of death. Nationwide Insurance offers a policy called YourLife Guaranteed Level Term that allows you to be insured for a 10, 15, 20 or 30-year period with a consistent premium. You can even convert this policy to a permanent one after the term is done! Term life insurance is generally more affordable than Whole Life due to the fact that it strictly provides a death benefit and it builds no cash value. An example is that for a 30-year-old non-smoking female, the monthly premium for $500,000.00 in coverage for a 20 year term would start at only $19.69 per month. A 30-year-old non-smoking male for the same coverage would start at only $22.75 per month.
Whole life policies
Whole life coverage provides coverage for the entire life of the insured, and unlike term policies does not need to be renewed. These policies are the most common type of life insurance. Whole life plans make use of fixed monthly payments, along with a savings component with the capability to borrow against the cash value, to help provide benefits to loved ones in the event of tragedy.
Other permanent policies
Nationwide offers other permanent plans, like Universal Life and Variable Life, that can add flexibility to the coverage gained in whole life. You can take advantage of the Indexed Universal Life policy to use to build wealth as you accumulate policy value through the collection of dividends and interests while enjoying the tax benefits and still providing a death benefit to your beneficiaries.
If you have pre-existing health issues, then we can still provide life insurance for you as well. There are some restrictions to this type of policy so contact someone in our life department to assist you. For more details on these plans, please contact us to determine their appropriateness for you.
For life insurance in the greater Raleigh-Durham area, rely on the Craig Insurance Group
While you may already have a group life policy from your job, it is important to note that these usually only cover an amount dependent on your salary. Don’t assume group life insurance alone will cover you to the extent needed. You should also be advised that for the vast majority of group life insurance policies provided through your employer, almost all of them are cancelled once you leave your job regardless of the circumstances. Talk to the Craig Insurance Group to see if you need to supplement your plan or begin a life insurance strategy from scratch.
Are you concerned about your retirement savings losing value in a volatile market?
If you are concerned about your retirement savings, including a 401K and Traditional or Roth IRA, losing value then we have a solution for you. Craig Insurance Group will help protect those funds without the risk of loss through various fixed annuities. If you would like to see the benefits of protecting your money, then call a member of our life insurance department today.
Residents of Raleigh, Durham, Chapel Hill, Cary and throughout the great state of North Carolina can call the Craig Insurance Group at (919) 786-1960 or swing by our office at 204 W. Millbrook Dr., Raleigh NC 27609.