|Davis Insurance Group is a trade name used by two different agencies. P&C Products offered through Davis Insurance P&C LLC. Life, Health, Long term Care and Medicare supplement products offered through S.J. Davis
& Associates. We are licensed to sell insurance in North Carolina and South Carolina. Do not cancel any insurance product until you have a replacement policy in place and paid for.
|Call us today for your free insurance quote (910) 392-5173
PO Box 11325 - Wilmington, NC 28404
Copyright - 2006 Samuel J Davis
Life insurance has many uses for both individuals and businesses.
Some common uses include: Individual Uses
- Funeral - Life insurance proceeds can ensure that there is enough
money for proper funeral and burial expenses.
- Debt - Personal bills, credit card debt, student loans, and personal notes
can be covered by life insurance in the event of an individual's death.
- Mortgage Protection - The proceeds of a life insurance policy can pay
off the balance of a mortgage or provide an income stream to pay
monthly mortgage or rent payments.
- Income Replacement - In the event of an individual's death, life
insurance proceeds can provide a supplemental income stream to
ensure that the surviving family members are able to maintain the same
standard of living.
- Education - Life insurance proceeds can ensure that the education
costs of the insureds children are covered.
- Taxes - Federal estate and state inheritance taxes can be pre-funded
using life insurance to preserve the value of an estate.
- Donations/Gifts - An individual can use a life insurance policy to fund a
donation to a charity or leave a gift to a family member.
Types of Life Insurance:
- Key-Person - A life insurance policy can be used to protect a business
from the loss of income and profits caused by the death of a key
- Business Continuation - Life insurance can be used to fund a buy/sell
agreement or stock redemption plan to determine enable a partner or
group of employees to buy the business interest of a deceased partner.
- Business Loans - Life insurance protection on a key employee or
business owner can be used to pay off the debts of a business in the
event of that individual's death.
- Employee Benefits - Life insurance protection for employees is
commonly included in company employee benefits plans.
- Term Life Insurance - No Cash Values - Just pure life insurance
- Universal or whole Life - Builds cash value and helps level premiums
for the life of the insured.