When you have people who will be left behind after you pass away, it’s important to have life insurance to give them a helping hand. This is especially important for anyone who is dependent on either your salary or your services. Whole life insurance is one type of life insurance that is popular for its many advantages. Find out what whole life is and how it works. If you need coverage, call us today at Cross Creek Insurance in Hope Hills, NC.
Insurance for Your Whole Life
Term life insurance is a type that is good for one set term such as 20 years. However, whole life insurance is good for the rest of your life as long as you keep paying the premiums as agreed. As long as you keep up the payments, it will be there for your loved ones no matter how old you become. This insurance is often preferred for just this reason. With term insurance, you would have to shop for a new policy after the term ended, and that would be at a much higher rate. With whole life insurance, you can keep it for as long as you want it.
Building a Cash Value
Another reason that this type of life insurance is so popular is that it builds a cash value over time. This means that after a few years, the policy will start to include a portion of the proceeds that it earns through your policy into a cash value that you can then borrow against. This can solve a serious financial problem if you need quick access to cash sometime in the future.
Get Your Life Insurance Policy
If you are interested in a whole life policy, contact our office today at Cross Creek Insurance in Hope Hills, NC.