To obtain coverage quickly and conveniently, call us at (833) 599-7328 to speak with a licensed representative about your life insurance needs.
Life is unpredictable and life insurance provides peace of mind that you and your family are financially protected if the unthinkable happens. People often purchase life insurance for themselves and other family members to lessen the financial risks that can increase the stress and pain of losing a loved one.
Greater Kinston Credit Union (GKCU) offers simplified issue term and whole life insurance to members through the State Employees' Credit Union wholly-owned subsidiary SECU Life Insurance Company (SECU Life).
SECU Life products are available to North Carolina residents only.
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Call (833) 599-7328 to speak with a licensed representative about your life insurance needs.
Life Insurance FAQs
Life insurance is designed to protect the ones you love from a financial burden after you pass away. You often need life insurance when someone depends on you. If you have debt, a spouse, dependents, or are thinking about starting or growing a family, you may have a need for life insurance.
Most people get life insurance through a job, but employer-provided coverage often doesn’t meet your needs. The coverage amount is typically limited, and coverage usually ends when you leave the job (whether you change jobs, retire, stay home with kids or get laid off).
SECU Life offers two standard types of life insurance – level premium Term Life and level premium Whole Life.
Term Life insurance is used primarily during your working years for temporary needs such as replacing your income, paying off debt or funding child care and education. It’s typically the most affordable type of life insurance for protecting your family. Term Life is designed to last for a set period of time – usually 10, 15, 20, 25 or 30 years. You’re covered by a level benefit and monthly premium payment during the term, with available coverage amounts of $50,000 to $250,000 (for ages 15-17 and 51-59) and $50,000 to $500,000 (for ages 18-50).2
Whole Life insurance is used to protect your family against permanent needs: funeral, medical bills, and final expenses. Whole Life is more expensive than Term Life, because it is designed to last your entire life. It offers a level benefit and monthly premium payment, with available coverage amounts of $5,000 to $50,000 (for ages 0-14) and $10,000 to $100,000 (for ages 15-69).3
How much coverage you need depends on your individual circumstances. If you have a young family that depends on your income, a term policy several times your salary to replace that income might meet your needs. If you are a stay-at-home parent, a term policy to provide for childcare and other work you do may be appropriate. If you have no dependents or debt (and no plans to take on debt), then a smaller whole life insurance policy to cover final expenses (funeral, medical bills, etc.) might be right for you.
Below are some rough guidelines to help you get started.1 Your unique situation and comfort-level may dictate a higher or lower level of coverage:
*If no immediate plans for children
Life insurance probably costs less than you think. The average individual estimates life insurance costs three times more than it actually does.4 No matter your budget, there is probably a life insurancse policy that you can afford. Coverage amounts between $10,000 and $500,000 are available. We’ve included some sample premiums below, but encourage you to contact our local branch office to make an appointment with a licensed representative or request a quote online. You can also call SECU’s Financial Advisory Services (FAS) Contact Center toll free at 833-599-7328 for assistance. The FAS Contact Center is open 7 days per week from 8 a.m. until 9 p.m.
Life Insurance Sample Premiums
SECU founded SECU Life in 2013 to provide simple, straightforward life insurance products to members with immediate needs. With SECU Life, you can be approved in minutes instead of days or weeks. Our insurance representatives are salaried employees who are not compensated by commissions or incentives, so you can rest assured their advice is in your best interest.
SECU Life builds on SECU’s long-established history of “People Helping People” and member-focused service. We know our members have unmet life insurance needs, and we want to meet those needs the SECU way!
Contact our local branch office to make an appointment with a licensed representative or call SECU’s Financial Advisory Services (FAS) Contact Center at (833) 599-7328 to apply over the phone. The FAS Contact Center is open 7 days per week from 8 a.m. until 9 p.m.
Life insurance is offered through SECU Life Insurance Company. SECU Life Insurance Company is a wholly-owned subsidiary of State Employees’ Credit Union. Life insurance is not guaranteed by a deposit of, or an obligation of any credit union and is not insured by NCUA, or any other federal government agency. Insurance Representatives are licensed to sell in North Carolina only.
1 The coverage amounts provided are for illustrative purposes only and do not constitute a recommendation. There are other factors you need to consider when determining your life insurance needs. This information is not intended to offer any tax, legal or financial advice.
2 The monthly rates listed are for standard class, non-nicotine use, unless otherwise noted. This is a level premium term policy with a level death benefit renewable to age 90. Premiums will increase annually after the initial term period. Applications are subject to underwriting. Other amounts available. Form SITL-POL-112021.
3 The monthly rates listed are for a level premium whole life insurance policy. Applications are subject to underwriting. Other amounts are available. Form SIWL-POL-112021.
4 LIMRA. “Consumers Overestimate Cost of Life Insurance By Nearly Three Times.” 2012.