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North Carolina Life Insurance Services

North Carolina Life Insurance Services

Life happens. Having the right life insurance policy that provides the right kind of coverage is critical when planning for the future of you and your family. It will give you peace of mind knowing that if the unexpected should happen, both you and your loved ones will be taken care of and covered.

Romeo Heatherly Insurance Services understands that life insurance policies are never one-size-fits-all. You and your family have different needs based upon your individual lifestyles. We will walk you through a comprehensive needs analysis to help you determine what it takes to provide for yourself and your loved ones.

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We can help you obtain:

  • Term, whole life, or universal life insurance.
  • Policies for any age group.
  • Updates to your policies as your life, needs, and lifestyle evolve.

We have multiple companies to serve you: AIG, Nationwide, Mass Mutual, TransAmerica, Prudential, New York Life, Mutual of Omaha, John Hancock, Gerber, Assurity, and Illinois National, to name just a few of the many life insurance companies that we can shop for coverage that suits your individual needs as well as the needs of your family members and loved ones.

Life Insurance Advantages

A life insurance policy provides you and your family members with several significant advantages in the event of an emergency or other life events. It can help offer assurance to your family members in the event of your death as well as offer benefits that you can utilize when living.

Death Benefits – If you were to pass away, your life insurance policy will provide a tax-free income to the people that are named as your beneficiaries. This money can help pay for many things such as funeral expenses, college or school tuition, debt, or almost any financial need. If you are a business owner and have partners, it can help prevent a forced liquidation by buying out the interests of a deceased partner.

Life Benefits – You are not required to pay taxes on the cash value growth of a permanent (whole) life insurance policy—unless you withdraw the money. You can also take out withdrawals or loans against the cash value of your permanent life policy. This can help with such expenses as school or college tuition, down payment of a home, or home repairs.

When Should I Review My Current Policy?

As we grow older, things change in our life. It’s important to review the coverages offered by your current life insurance policy to ensure that it’s meeting the needs of your current lifestyle. Several life events will necessitate a review of your current policy, such as:

  • Opening a new business
  • Birth of a new child or grandchild
  • Deterioration of the health of you or your spouse
  • Newly married or divorced
  • Children or grandchildren require long-term medical care 
  • Planning for the education of children or grandchildren
  • New home purchase
  • Increased wealth or sizeable estate

At Romeo Heatherly Insurance, we will sit down with you and learn more about your current needs. We will then go to work, shopping around with multiple insurance carriers to find you the best policy that fits the needs of your changing lifestyle. 

Don’t leave anything to chance. Having life insurance that covers all of your unique needs is an essential part of ensuring the safety and future of both yourself and your loved ones.

Frequently Asked Questions

Frequently Asked Questions

What is the North Carolina State Guarantee Association?

This association is comprised of all of the insurance companies that are licensed to sell life insurance in North Carolina. The purpose of this association is to protect policyholders if their current insurance company is insolvent. If your life insurance company goes out of business, the association will step in to protect you by continuing your coverage and paying any claims up to $300,000.

What factors can influence my life insurance premium rates?

There are many different factors that life insurance companies take into consideration when calculating your premium rates. Some of these can include:

  • Type of coverage that you want
  • Your lifestyle and health (alcohol usage, tobacco usage, driving record, etc.)
  • Amount of coverage that you want
  • Dangerous activities that you participate in (skydiving, rock climbing, motorsports, scuba diving, etc.)
  • Medical history of your family
  • Your gender and age

Can outstanding loans reduce the death benefits that are payable to the beneficiaries listed on the policy?

According to the North Carolina Department of Insurance, yes, they can.