Universal Life Insurance, Hickory, NC

HomeLife Insurance, Hickory, NCUniversal Life Insurance, Hickory, NC

Find the right universal life insurance policy for your family.

If you’re looking for permanent life insurance, there are two main types: universal life insurance and whole life insurance. Both of these types of policy can give you and your family security with lifetime coverage, and both options allow you to cancel your permanent policy in exchange for its cash value in case of an emergency.

Universal Life Insurance in Hickory, North Carolina

However, there are a couple of key differences between universal life insurance and whole life insurance you should be aware of before you pick a policy. Here’s what you need to know:

  • Universal life insurance is flexible. If your needs change over time, you can adjust your insurance premiums or benefit amounts. Whole life insurance policies tend to keep these amounts fixed, regardless of any changes that might happen in your life.
  • Interest rates can vary. One thing to be aware of when choosing a universal life insurance plan is that interest rates can change based on market conditions. If the market is down, you might not see any growth to your account’s value.
  • You can borrow money based on your policy’s value. If you’re ever short on cash, you can borrow money from your universal life insurance policy to cover emergencies. However, this adds the risk of your policy becoming underfunded if you do this repeatedly.

Trying to decide what kind of life insurance to get can be tough, but our professional agents at The Catawba River Insurance Group are here to help! Reach out to our friendly team members serving those in Hickory, North Carolina to customize your universal life insurance policy today.

At The Catawba River Insurance Group, we offer universal life insurance for customers in Hickory, Blowing Rock, Lenoir, Marion, Linville, Wilkesboro, Banner Elk, Gastonia, Lincolnton, Statesville, Taylorsville, Morganton, Connelly Springs, Granite Falls, Hudson, Valdese, Raleigh, Greensboro, Asheville, Boone, Winston-Salem, Charlotte, Conover, and Newton, North Carolina.