Life Insurance

Life insurance helps you plan for the future financial support of your loved ones after your death. Your beneficiaries receive a set amount of money from the life insurance company when you die. They can use the life insurance death benefits for any reason they choose without having to go through probate court or pay taxes on the money.  


Contact the agents at Ashlie Fortune Insurance in Jacksonville, North Carolina, to learn more about your life insurance options and get a quote.  


What Are the Different Types of Life Insurance? 


People buy life insurance for many reasons, and there are a wide variety of policies available to help you reach your long-term financial goals. In general, life insurance falls into one of two categories; term life insurance or permanent life insurance.  


Term life insurance provides a death benefit if you die during the policy’s term, which is usually between five and 30 years. This is typically the least expensive type of life insurance, and some insurance companies may allow you to qualify without a medical exam.  


Permanent life insurance provides coverage for as long as you live, so your beneficiaries receive a payout no matter when you die. With a permanent policy, like whole life insurance or universal life insurance, there’s a savings component in addition to the death benefit. The cash value of the policy builds over time, and you may be able to eventually take out a loan against the policy’s value. If you no longer need the death benefit, you may also be able to receive a lump sum cash payment when you surrender the policy.  


Why Get a Life Insurance Policy Now? 


No matter which stage of life you are in, life insurance should be a critical part of your overall financial plan. If someone depends on you for ongoing financial support or you have a business partner or joint debt, your death could cause significant financial problems for the people you care about most.  


Even if you aren’t sure about life insurance right now, it’s crucial to understand that life insurance generally costs less for younger and healthier people. Applying for life insurance now could help you lock in a lower rate.  


Get the Life Insurance Policy You Need 


Choosing life insurance coverage can seem intimidating, but no matter how much life insurance you may need, the agents at Ashlie Fortune Insurance are ready to help. You’ll have access to high-quality and affordable policies from reputable life insurance companies that can help you plan for the future. Contact us today to learn more about the different types of life insurance policies.