The Facts About Georgia Life Insurance
Chances are, if you're reading this, you need to have a life insurance policy. The fact is, there are very few people who would not benefit from having a decent amount of individual life insurance coverage. Children, individuals with no dependents and financially independent people can afford to forgo this type of insurance, but for everyone else, life insurance provides your family and dependents with financial security when you pass away. When a loved one passes away, there are many expenses in addition to the usual living costs. Having life insurance in place gives you peace of mind knowing that if you pass on, your partner and kids, if any, will be taken care of financially.
Life insurance falls into two categories: whole life and term life. The former gives you coverage for the rest of your life provided you continue making premium payments. Some policies offer a cash value feature so that you can borrow money from the policy. Whole life policies are excellent for people who don't have much money saved for retirement or are caring for grandchildren.
Term life insurance is just what you'd expect from the name, short-term insurance, and policies range from 10 to 30 years based on the length of time you feel the coverage is needed. These offer no cash back once the policy term is up, but they are less expensive than whole life policies.
Both types of life insurance offer unique benefits, and one may be better than the other based on your current life situation. At The Sanford Group, we're an independent agent, and we will sit down with you and clearly explain your options for life insurance policies so that you can make an informed decision before you purchase coverage. Contact us, your Ball Ground, Georgia, life insurance agent, and start protecting your family's future today!