Greensboro's Peace of Mind Insurance Agency
Barnett Smith Insurance


What are the different kinds of Life Insurance?
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.


How much Life Insurance do I need?
Click on the "Life Insurance Calculator" to help you decide.
Life Insuance Calculator




























Ph. 336.272.4554 or 1.800.253.2884
Fax. 336.274.7482

218 North Eugene Street
Greensboro, NC 27401

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Life

Complete Protection For Your Family

Providing peace of mind and security for your family and loved ones is a key reason for purchasing life insurance. We can design personal plans for final expenses, loss of income, mortgage and debt retirement and dependant education expenses, or find the right plan for business needs.

Personal Life Insurance Plans. Term Insurance offers protection for a specified period of time, and builds no cash value, but often fits a limited budget and can later be converted to permanent insurance. Permanent Plans such as Whole Life or Universal Life offer protection for life and can build cash value. We also offer excellent plans for “newborns” and plans that are wonderful gifts for grandchildren.

Business Life Insurance. One of the first things any business owner needs to consider is how to protect against events that may threaten the future of the business, such as the death of a proprietor, partner or key employee. Let us help you with those decisions.

Group Life Insurance. Business owners in today’s competitive job market recognize the importance of attracting and keeping good employees. Providing group term life insurance is an economical way for employers to provide a quality benefit that employees value and appreciate.

Buy/Sell Agreements. You might think that if you die, your family could maintain their income by running the business themselves or by hiring someone to handle the day-to-day management. The fact is, your loved ones may not have the skills or the desire for the job, and your co-owners may not welcome the idea of an unintended partner.
A buy-sell agreement is an agreement between owners to buy out a deceased owner's share of the business in the event of the co-owner's retirement, disability or death.

Executive Bonus. These plans are a simple way to reward your top people. Under this type of plan, the employee purchases a permanent life insurance policy on his or her life. The company bonuses the employee the premium, which is usually considered taxable income to the employee and tax-deductible to the employer. The employee controls the policy, including the death benefit and the cash value, which accumulates tax-free until it is withdrawn.



We want to help you make wise decisions

Learn more by reading the information listed below.


To Learn More About Our Companies


Erie Personal Life Products
Erie Group Life Products


What to Do When You Have a Claim

    In the event of a loss, please contact us directly and we will help you through the process.