Life Insurance in Marietta, GA
Life insurance can help provide financial security for you or your loved ones by replacing lost income and covering various expenses after your death or when the policy’s term is up. If you’re looking for life insurance, we’re here to help. Our agency is ready to discuss your life insurance needs and help find a policy that’s right for you.
What Is Life Insurance?
Life insurance is a contractual agreement between you (the policyholder) and the insurance company. In exchange for paying the insurer a regular premium, your beneficiaries will receive a lump-sum death benefit when you pass away or after a specific amount of time has passed.
What Are the Types of Life Insurance?
There are two primary types of life insurance, including:
- Term life insurance—A term life policy provides a death benefit to your loved ones if you die during the policy’s term. This term might be a period of 10, 20, 30 or more years, depending on the expiration date of the policy. If you do not die during this time, the policy does not pay and will expire when the term ends. You will also have to reapply for a new policy if you want to continue to have coverage.
- Whole life insurance—A whole life policy will last for the remainder of your life once you enroll. It will not expire unless you stop paying for it. Additionally, such a policy offers cash value investment opportunities. This cash value component can enable you to receive a source of income during your lifetime (in addition to the eventual death benefit).
Several other types of life insurance also exist. Speak to one of our agents to determine which type of coverage suits your particular needs.
What Is the Difference Between Term and Whole Life Insurance
Term life insurance provides coverage for a set number of years and is generally more affordable because it offers protection without building cash value. Whole life insurance lasts your entire lifetime and includes a cash value component that grows over time. The choice between them depends on whether you want simple, time-limited protection or long-term coverage with added financial benefits.
What Factors Affect the Cost of Life Insurance
Life insurance costs are influenced by your age, health, and lifestyle, as these factors help insurers assess risk. The type and amount of coverage you choose also play a major role in determining your premium. Even your occupation and hobbies can affect pricing if they involve higherrisk activities.
How Do I Apply for Life Insurance
To apply for life insurance, you begin by selecting the type and amount of coverage that best suits your needs. You’ll complete an application that includes questions about your health, lifestyle, and medical history. Many insurers may also require a brief medical exam before final approval and policy issuance.
How to Get Life Insurance
If you’re in need of a life insurance policy, we’re here to help. Give Fletcher Insurance Associates a call or request a quote online to get started.