The Differences Between Whole and Term Life Insurance

When it comes to life insurance, there are many different types of policies available for you to choose from. At the very basic level, there are two different categories that life insurance can fall under: whole and term life. Before you purchase a life insurance policy in Hope Hills, NC it is important to know the difference between the two from Cross Creek Insurance so you can make the right decision. 

Whole Life Insurance

Whole life insurance is designed to last for your entire life. You can sign up for a policy that you will pay for over a set number of years and then you will cease payments. However, this life insurance is designed to stay with you until you die and is better suited for people who are looking at more of a long term goal. Some policies even have a cash value associated with them and you can earn money on the policy over time. This policy tends to be more expensive.

Term Life Insurance

Term life insurance is designed to only last until a certain age. However, one of the benefits of this type of insurance policy is that it is less expensive. Since it does not last for life though, it is more of a short term policy that will expire when you stop making payments or until you reach a certain age. These policies also do not have a cash value associated with them in the majority of cases. 

Now that you know the difference between whole and term life insurance, you can better decide which is the better option for your current situation. If you are interested in learning more about your options and getting a quote to fit within your budget, be sure to contact Cross Creek Insurance serving Hope Hills, NC today. 

Does A Farm Qualify For Commercial Insurance?

At Cross Creek Insurance, we provide great commercial insurance that is designed to suit a wide variety of needs. For example, we can provide those in Hope Hills, NC with insurance for their farm. Does a farm qualify for commercial insurance or does it require a different type?

Does It Qualify As A Farm?

The most important thing you need to do when insuring your farm is to ensure that it qualifies for commercial farm insurance. For example, it needs buildings that are used in farming operations, crops and livestock, equipment used to manage a farm, boarding houses for workers, people who work on the property, and the capacity to sell products for profit.

As a result, a farm, even if you live on the property, will then qualify for commercial insurance. However, the farm home will need to be covered with a home policy, rather than a commercial policy. A commercial policy for a farm will only cover the property that you use to do your farm work, though some policies may cover certain aspects if your home is damaged.

Policy Types Will Vary

A commercial insurance policy for a farm will cover a wide range of farm aspects. It will cover your property and protect it from the weather, fire, and other serious disasters. However, it also includes liability policies in case that somebody gets injured, medical coverage if somebody gets hurt, living expenses if your living area is damaged, and more. Typically, you are going to need to get specific coverage for livestock, such as cows, chickens, and pigs.

Cover Your Farm Successfully

If you need to get your Hope Hills, NC farm covered by high-quality commercial insurance, contact us at Cross Creek Insurance. We can pinpoint a great policy that works for you and fully cover your business.