No one likes to think about the passing of a loved one or even oneself. It is inevitable though. Since we know this to be true, why leave our loved ones with financial obligations they may not be able to afford?
A life insurance policy is a contract with an insurance company. In exchange for premium payments, the insurance company provides a lump-sum payment, known as a death benefit, to beneficiaries upon the insured’s death.
Typically, life insurance is chosen based on the needs and goals of the owner. Term life insurance generally provides protection for a set period of time, while permanent insurance, such as whole and universal life, provides lifetime coverage.
Contact one of our professional team members at Eastern Carolina Insurance to find out which policy may be right for you and your estate.