Do you live in the Burlington, NC area? Do you wonder what would happen to your loved ones in the event of your passing? Don Allred Insurance can help with a life insurance policy.
Buying life insurance will protect your loved ones from the devastating financial losses that could result in the event of your death. It will provide financial security, pay off debts, and help with living expenses, medical costs, and final expenses.
An accident or devastating illness can happen to anyone at any time. So, even if you are young, your family needs the protection a life insurance policy can provide.
There are three basic types of life insurance.
- Term life insurance provides coverage at a fixed rate for a period of time. After expiration, the client must renew the coverage. If the insured dies during the term, the death benefit is paid out to the beneficiaries. Term insurance is the least expensive life insurance.
- Whole life insurance has significantly higher premiums. It is renewed for your lifetime. The coverage matures as the policy grows in value, and withdrawals can be made for any reason. It serves as an investment tool as well as an insurance policy.
- Universal life insurance is permanent life insurance. With this policy, the insured is covered for their entire lifetime as long as the premiums are paid and any other policy requirements are maintained. There is a savings component with lifelong protection with this type of insurance. When you pass, the death benefit is paid out.
Don’t leave your loved ones without the financial security they will need and deserve. Life insurance will provide that security. Don Allred Insurance can provide you with a no-obligation quote or answer any questions you may have. Contact our office today.