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Home > Life Insurance | McKinney Insurance Services - in Asheville, NC, Candler, NC and Weaverville, NC

Life Insurance


Life Insurance Quote Forms

Looking for coverage? Click any of the following links to submit a quote for quick, accurate and affordable rates.

Life Quote Form

Life Insurance Information

There are many kinds of life insurance, but they generally fall into two categories: term insurance and 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 your unique circumstances and financial goals.

But remember, the best way to figure out the amount and type of life insurance that makes sense for your particular situation is to meet with a qualified and licensed life insurance professional.

Long-Term Care Insurance

 

Long-Term Care Insurance Quote Forms

Looking for coverage? Click any of the following links to submit a quote for quick, accurate and affordable rates.

Long Term Care Quote Form

Long-Term Care Insurance Information

Because of old age, mental or physical illness, or injury, some people find themselves in need of help with eating, bathing, dressing, toileting or continence, and/or transferring (e.g., getting out of a chair or out of bed). These six actions are called Activities of Daily

Living–sometimes referred to as ADLs. In general, if you can’t do two or more of these activities, or if you have a cognitive impairment, you are said to need “long-term care.”

Long-term care isn’t a very helpful name for this type of situation because, for one thing, it might not last for a long time. Some people who need ADL services might need them only for a few months or less.

Many people think that long-term care is provided exclusively in a nursing home. It can be, but it can also be provided in an adult day care center, an assisted living facility, or at home.

Assistance with ADLs, called “custodial care,” may be provided in the same place as (and therefore is sometimes confused with) “skilled care.” Skilled care means medical, nursing, or rehabilitative services, including help taking medicine, undergoing testing (e.g. blood pressure), or other similar services. This distinction is important because generally Medicare and most private health insurance pays only for skilled care–not custodial care.

Common Life Insurance Questions:

How Does Life Insurance Work? 

Upon your death, a certain amount of money, commonly known as a death benefit, is given to a beneficiary of your choosing. This money is there to assist your beneficiary in financially recovering from your loss, as well assure that they are taken care of.

What is Whole Life Insurance vs. Term Life Insurance?  

There are two primary types of life insurance:

  • Term Life Insurance: A term life policy provides a death benefit to your loved ones if you die during the policy’s term. This term might be a period of 10, 20, 30 or more years, depending on the expiration date of the policy. If you do not die during this time, then the policy does not pay. You will also have to reapply for a new policy if you want to continue to have coverage.

  • Whole Life Insurance: Whole life policies last for the remainder of your life once you enroll. They will not expire unless you stop paying for them. Additionally, these plans offer cash value investment opportunities, and the cash value component can enable you to receive a source of income during your lifetime (in addition to the eventual death benefit).


Several more specific policies also exist, including:

  • Universal Life Insurance

  • Final Expense Insurance

  • Group Life Insurance

  • Individual Life Insurance

  • Key Person (Key Men) Insurance

  • Long-Term Care Insurance

  • Mortgage Protection Insurance

  • Second-To-Die Policy


Speak to one of our agents to learn more about which type of policy is best for your needs.


 

How Much Life Insurance Do I Need?  

The amount of life insurance you need is entirely up to you. For example:

  • If you want a policy to help pay for a child’s college education, then a 20-year term policy might be best for you. You can let the policy terminate at the end of the term, but you can rest assured that if you do die before your child graduates college, this policy will pay for their tuition and other expenses.

  • Many people tie the value of their life insurance policies to the value of their debts—mortgages, car payments, etc. If you die while these debts are outstanding, then your beneficiary can use the money to settle expenses.

  • Some people tie the benefit to their income and leave a certain number of years’ worth of their paycheck to their survivors. So, if you were to take your current paycheck and multiply it by ten, then your death benefit will provide ten years’ worth of income to your family.


Essentially, you get to choose your own death benefit
. Our experienced agents will make sure that the benefit is sufficient for your loved ones and affordable for you.

 

How Much Does Life Insurance Cost?  

A life insurance premium differs from person to person. Factors such as age, income and coverage are some of the aspects included in premiums.

The affordability of a life insurance policy is, oftentimes, a chief concern among people. The important thing to note is that our agents will assist you in selecting adequate coverage no matter where you are in life or what your unique situation is.

Contact us to learn more about life insurance or request a free quote now. 

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Asheville, NC 28803

Phone: 800-684-5020 | Fax: 828-684-1810 | info@mckinneyagency.com
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