North Carolina Life Insurance Coverage

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Life Insurance Coverages

Life Insurance

Find a Life Insurance Policy to Protect Your Future

Life is unpredictable, and no one knows what the future holds. Planning for eventualities is what life insurance is all about. It protects you, your business, and the people you love from what life may bring in the future. Wood Insurance Consultants LLC of North Carolina offers many life insurance coverage options you can choose from to suit your needs.

Term life insurance

The contract for a life insurance policy states the term and the premiums to be paid during that period. It is the most popular type of life insurance because it is the least expensive. The downside to this type of insurance is that your policy may expire when you are old, and it will be more expensive and sometimes even more difficult to purchase a new one.

Whole life insurance

The contract for a whole life insurance policy specifies the amount of premiums to be paid until the time of death. At the end of the agreement, the beneficiary of the insurance receives a death benefit. You can benefit from cash values as a loan against the policy and pay later when a need arises. Another advantage is the premiums don't go up as you age and you are guaranteed it will be there when you pass on provided that you pay your premiums promptly.

Universal life insurance

This policy is more flexible compared to term life insurance and whole life insurance policies. It states the minimum and the maximum amount of premiums to be paid for a certain period of time for a certain amount of coverage. The choice you make determines whether the policy will be a whole life insurance policy or a term life insurance policy. Flexibility is the biggest reason people purchase this kind of policy. A younger person who is unable to choose a whole life insurance policy should consider universal life insurance and increase the premiums later on when he or she can afford it.

Protect your loved ones from the harsh reality of life when you are gone because you never know how much time you have. Wood insurance consultants LLC offers life insurance in North Carolina to residents all around the state. Contact us today to find out more about life insurance and what policy fits your needs.

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