Insurance is something we all need if we want to avoid being in a financial fix in case life throws a curveball our way. Having an insurance plan means that you get to transfer the risk of a financial loss to an insurance company in case the specific situation you’ve insured against arises. You’ll have to pay a pre-determined amount on a monthly basis, which is called a premium, determined by your pay-out amount. There are several types of insurance that you benefit from if you’re thinking about insurance in North Carolina. These are a few important ones:

Life Insurance

Life insurance plans help to pay money to your beneficiary in case of your death. Your beneficiaries may be an individual, trust, company, or more than one of these who will split the amount as per your wish. Life insurance is important, especially if you’re the sole breadwinner of your family. It also helps to cover funeral costs, which can be expensive and put your family under financial stress.   

Life insurance costs depend on: 

  • Death benefit amount
  • Your age and health condition
  • Risk factors and hobbies

High-risk activities like skydiving will require you to pay more in insurance premiums. You’ll also have to take a medical exam and fill out a questionnaire of your hobbies and any health-compromising habits such as smoking or the use of drugs when you apply for life insurance in NC. 

You may choose between term life insurance or whole life insurance policies based on your needs, each with their own benefits and drawbacks.  

Health Insurance

Health insurance in NC is another very important type of insurance you should get. Not only will a lack of health insurance put you in a financial fix, but it’ll also threaten your life in case something goes wrong. Health insurance helps to pay for the cost of medical care. It can cover doctor’s appointments, surgeries, injuries, illnesses, tests, and other monthly check-ins. Many employers subsidize premiums for workers, a portion of whose paychecks contribute to the monthly premium. If you aren’t covered by your employer, you’ll want to get health insurance in NC from the individual market.           

The type of plan you choose will depend on your individual needs and current health condition, your budget allocation, and the capacity to keep a doctor of your choice.  

Vision Insurance

Your health plan may not cover eye health, which is why vision insurance in NC is important. It can help to cover the cost of routine eye check-ups, any vision correction wear that is prescribed for you, as well as eye-care for major medical conditions detected.  

Disability Insurance

Disability insurance in NC helps to ensure you continue to have an income in case a situation arises where you aren’t able to work any longer. Such policies may be long-term or short-term policies and depend on a very specific definition of disability. The pay-out typically is 60% to 70% of your base salary for short-term policies and 40% and 60% of your base salary for long-term policies.       

Pet Insurance

Getting pet insurance if you have pets is important for protection in case of accidents, injuries, or illness. Comprehensive policies will also cover routine pet care in addition to the conditions already mentioned. Typically, such policies will exclude any pre-existing health concerns but can provide assistance in case your pet needs some expensive medical treatments or surgeries.

If you need assistance with insurance in North Carolina, reach out to us. We offer several versatile options that can help you receive the coverage you need.