Raleigh, Garner, Cary, Wake Forest, Apex, Wake County and Throughout North Carolina
There are many kinds of life insurance, but they generally fall into two categories: term insurance and permanent insurance.
Is designed to meet temporary needs. It provides protection for a specific period of time (the "term") and generally pays a benefit only if you die during the term. This type of insurance often makes sense when you have a need for coverage that will disappear at a specific point in time. For instance, you may decide that you only need coverage until your children graduate from college or a particular debt is paid off, such as your mortgage.
Permanent/Whole Life Insurance
In contrast, permanent insurance provides lifelong protection. As long as you pay the premiums, and no loans, withdrawals or surrenders are taken, the full face amount will be paid. Because it is designed to last a lifetime, permanent life insurance accumulates cash value and is priced for you to keep over a long period of time.
It's impossible to say which type of life insurance is better because the kind of coverage that's right for you depends on your unique circumstances and financial goals.
But remember, the best way to figure out the amount and type of life insurance that makes sense for your particular situation is to meet with a qualified life insurance professional.
Thank you for your interest in Anders, Ireland & Marshall Insurance. If you would like to speak to an insurance professional please feel free to call our office at 919.755.1401 or 800.726.1228. If you would like to email your questions to us, one of our agents will reply promptly.
For information on health insurance please visit www.healthcare.gov