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The Basic Types of Life Insurance
- Term Insurance - Generally the least expensive, Covers for a specific amount for only a specific period of time. Ex. 10, 20 or 30 years. Can be used for family protection until children reach a certain age, or mortgage protection - to pay off your mortgage or other bills if you die within a specific time frame.
- Whole Life Insurance - A permanent type of Insurance that offers a specific value at the end. Ex. Cash Value of $100,000 at Age 100. Generally one of the more expensive types you can purchase, but the value is guaranteed.
- Universal Life Insurance - A permanent type of insurance that also has a cash value associated with it.
- Variable Universal Life Insurance - A permanent life insurance that offers a cash value account, but that account is invested in mutual funds, so the amount is not guaranteed. Less than Whole life - but higher risk.
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Tel. (910) 483-3611
Fax. (910) 483-3653
3007 Fort Bragg Rd, Fayetteville, N.C. 28303 |
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