There are many different types of life insurance policies available, and the type you choose will depend on your specific needs and goals. Some of the most common types of life insurance include:
Term life insurance: The term life insurance policy in North Carolina provides coverage for a set period of time, typically 10-30 years. It is the most affordable option, but it does not build cash value.
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Whole life insurance: This type of policy covers you for your entire life and builds cash value over time. It is more expensive than term life insurance, but it can be a good option if you want lifelong coverage and the ability to borrow against your policy in the future.
Universal life insurance: This type of policy also covers you for your entire life but offers more flexibility than whole life insurance in terms of how much coverage you need and when you pay premiums. It also builds cash value over time.
Variable universal life insurance: This type of policy combines features of whole life and universal life insurance, but with an investment component that can offer the potential for higher returns. However, it also comes with more risk, so it's important to understand all the details before purchasing this type of policy.