Life Insurance - Blog | Community Management Insurance Group

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Financial Support for Dependents

A primary advantage of having life insurance is that you can offer financial support for your dependents. Those who are going to invest in life insurance will be able to build a policy that is curtailed to meet the needs of their dependents. This can include ensuring that you have coverage for all future costs they may incur including the cost of living, higher education expenses, and even retirement for your spouse. Ultimately, this can offer peace of mind knowing that your dependents have this financial coverage.

Investment Advantages

A life insurance policy also offers various investment advantages. If you choose a whole life insurance plan, a portion of each payment builds into a cash value account, which will also grow with interest. In the future, you have the option to close and liquidate this account. With a whole life plan, you will have a unique and low-risk investment, which is a good addition to any personal investment plan.

Consult With Us

If you are in the Greensboro, NC area, you will want to make sure you are properly covered with life insurance. As you are shopping for plans, you are bound to find that there are a lot of choices to make and our team with the Community Management Insurance Group can help. Our professionals with Community Management Insurance Group know the value of this coverage and can ensure you choose an ideal policy that will meet your needs.

Life insurance is something that you do for the ones you love. It is your way of providing for them even after you have passed away. At Community Management Insurance Group, serving the greater Greensboro, NC region, we are independent insurance agents and our team is here to help you by answering your questions and finding the right life insurance for you.

When is the best time to buy life insurance?

The most obvious answer is before you need it. Life insurance is less expensive when you are young and healthy, but you want to make sure that during the years when you will need it the most, you have the right amount of life insurance. If you are planning a family, after the birth of your first child is a good time to start. If your partner counts on your income, you may need to start earlier.

Can my life insurance be canceled?

Yes, it can. The most common reason is the nonpayment of your premium. If you get into financial difficulties, don’t avoid talking to your carrier, they may be able to work with you. The other reason that the policy may be canceled is that you lied on the application.

How much life insurance do I need?

You need enough to provide a safety net for your loved ones. The figure is different for every individual, so it is important to sit down with one of our agents to put the figures together.

What is term life insurance?

Term life insurance is life insurance that lasts for a specific number of years. The most common is 20 years, and when it ends, there is no cash value.