How to Choose the Perfect Life Insurance Policy for You

Did you know that September isLife Insurance Awareness month? Don’t think you need North Carolina life insurance? Think again! The loss of a loved one is already an emotional trauma that is horrible for anybody to go through, but to have to deal with financial loss can make it that much worse. By purchasing a life insurance policy, you’re protecting those you love from financial stress. The purpose of life insurance is to replace the loss of income that would occur in the event of one’s death. To kick of Life Insurance Awareness month we want to share with you some tips for choosing the perfect North Carolina life insurance policy for you!

1. Understanding that purchasing life insurance is for protection, not for investing purposes. In an insurance policy, the insurer agrees to pay a certain amount of money to the beneficiary in the event of the purchaser’s death, all in exchange for premiums that the insured is required to pay. The policy is in place to offer a peace of mind in case the unexpected happens, not as a tool for investing money.

2.The insurance policy should be customized according to each individuals needs. The factors that affect what kind of insurance an individual needs are things such as marriage, career stage, size of one’s family, and their financial obligations.

3. When purchasing life insurance, know the difference between term vs. permanent insurance. Term life insurance offers protection for a specified amount of time and is available for periods of 1 to 30 years.

4. As with anytime you are purchasing an insurance policy, always spend time and do your homework to find the best individual policy for you!

Do you have some questions or concerns about which kind of policy would work best for you or what kind of coverage you need to best protect your loved ones? Visit our website or call Spivey Insurance Group today at 877-318-5951 to talk to one of our knowledgeable agents!

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