Insuring Carlsbad, CA and San Diego County for over 26 years.
There are many kinds of life insurance, but they generally fall into two categories:
- Term Insurance
- Permanent Insurance
Term insurance is designed to meet temporary needs. It provides protection for a specific period of time (the "term") and generally pays a benefit only if you die during the term. This type of insurance often makes sense when you have a need for coverage that will disappear at a specific point in time. For instance, you may decide that you only need coverage until your children graduate from college or a particular debt is paid off, such as your mortgage.
In contrast, permanent insurance provides lifelong protection. As long as you pay the premiums, and no loans, withdrawals or surrenders are taken, the full face amount will be paid. Because it is designed to last a lifetime, permanent life insurance accumulates cash value and is priced for you to keep over a long period of time.
It's impossible to say which type of life insurance is better because the kind of coverage that's right for you depends on what your financial goals are and what type of unique circumstance your policy might hold.
The best way to figure out the amount and type of life insurance that makes sense for your particular situation is to discuss your options with NCPA Insurance Services. Fill out a quote! Give us a call at (760) 720-9588 or make an appointment and stop by our office that is conveniently located off of Interstate 5 in Downtown Carlsbad Village.