life insurance quotes charlotte

3 Types Of Life Insurance ~ Which Is Right For You?

Most of the time when life insurance is mentioned, there a 3 types that come to mind. Whole Life, Universal Life & Term Insurance.

Do you know what your options are or which type would best suit your needs and budget?

To keep it simple here is a break down on 3 of your most common choices.

Universal life insurance and Whole Life insurance are both considered to be permanent life insurance products.

Whole life insurance is a safe product with a guaranteed premium, a fixed death benefit and offers a cash value.

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Universal life insurance is much more flexible. You can select the amount of death benefit and the premium you pay. There may be times in your life when you need more or your budget changes. Universal Life Insurance can be adapted to fit your own situation.

The interest in the cash value account can grow subject to market conditions.

Term Life is only for a certain amount of time with fixed payments. It is a temporary policy not permanent, and less expensive.

Most people may take out a term life policy to be covered during a specified time. It’s sort of like having children in college.

A good way to look at this is: Whole life or Universal life is like buying a House. Term Life is like renting a house.

When it comes to your future, make sure your loved ones are taken care of.

Call Spivey Insurance today at 704-821-4460 and consult a licensed life agent.

We have been insuring families in this area for over 25 years.

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