Barnes McQuade Life Insurance

Life insurance is something no one really wants to think about, but in reality None Of Us Are Getting Out Of Here Alive and we all need to make plans for our loved ones to be taken care of financially in the event of our death.

I have been a REALTOR® in the Wake and surrounding Counties since 2005. I have helped hundreds of families make their dreams come true of home ownership. I have also become close to many of my clients and unfortunately, as life would have it, I have experienced phone calls hearing of my clients’ passing. I felt an obligation not only to my past and present clients, but also to my community to do my part and help protect the financial stability of families after a loved one that has provided for their family has passed. ‘Providing' is not necessarily money; family members contribute in many different ways, ie; a stay at home Mom (or Dad) provides much more than a 9 to 5 job could ever do.

On this page you will find the basics of life insurance, but a phone call to me, (yes I am old school and would love to talk with you on the phone), will help me understand how I can help you. There are many different policies available.  Some have a medical exam and some don't.  Some are designed for seniors and some aren't.  

Please take a few minutes to review this site and if you don’t have time to call, fill out the contact form below and I WILL give YOU a call!

Life Insurance Basics

What is Life Insurance?
Simply put, life insurance is a form of insurance where you make payments to an insurance company called premiums. The amount of these premiums are based on many factors, such as age, gender, tobacco use, and others depending on the product you choose. In return of your premium, the insurance company pays a death benefit to your beneficiary. The amount of the benefit is determined by the product you choose. The most common types of life insurance are; • Term = This type of life insurance is the most popular as it is straight forward and the least expensive. It works as it sounds. The policy is in place for a term, most policies are 20 to 30 year terms. • Whole Life = This is a permanent policy. This type of life insurance also works as it sounds. It covers you for your whole life, but is generally more expensive and it builds a cash value over time as you pay your premiums. • Universal Whole Life = This is also a permanent policy and stays in place your whole lifetime. This policy is flexible as it allows you to lower or raise your premiums based on your life circumstances.
Mortgage Protection
Mortgage Protection Life Insurance is a policy that yes, … works as it sounds. This policy is great for homeowners that want to make sure that if anything happens to them, their loved ones will be able to stay in their home in the event a family member passes making it difficult to pay the mortgage. It is a great policy if you have certain medical issues and do not qualify for a simple term policy. There is no medical exam and the beneficiary does not ‘have to’ use the money to pay off the mortgage, it can be used as they please.
Foreclosure Protection Plans
Foreclosure Protection Plans can help the insured of a life insurance policy while they are still alive. This is sometimes referred to as a Living Benefit versus a Death Benefit. An example of this would be if an insured became ill and could not work, putting their family in danger of accumulating medial bills, being late on the mortgage, etc. Depending on the plan and circumstances the insured would be allowed to cash in their policy while they are alive to pay off debt, alleviating their family of worry.
Final Expense
Final Expense life insurance policies are designed to help your family with your burial expenses once you have passed. These are typically whole life policies that accumulate a cash value and last your whole lifetime. The average funeral cost exceeds $10,000 and most polices will have a face value of $2,500 to $50,000. Your premium will depend on which face value you choose and other factors. There are no medical exams and in most cases you will have to be between 50-80 years old to qualify. It is designed for seniors.
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