Life Insurance

Why Purchase Life Insurance in Georgia?

If something happens to you, then a life insurance policy can help you ensure your family doesn’t suffer financially when you can no longer provide for them. Life insurance can help replace the salary you were making and pay for outstanding debts, such as student loans, credit card debt, or the mortgage. While you may be young and not thinking about life insurance, the younger you are, the better it is to purchase a policy. If you have just started a family or purchased a home, then life insurance is more important than ever. It’s best not to put off getting a life insurance policy until you have already been diagnosed with an illness or life-threatening disease. It can be hard to find a company that will sell you a policy, and it can be very expensive.

Types of Life Insurance in Georgia

There are many kinds of policies for you to choose from. An agent at Whit Blanchard Insurance Group in Augusta, GA can help you determine which policy is best based on your needs.

Term life policies will only cover you for the specified number of years in your policy. The terms range from 5 to 30 years. You only get the benefits if you pass during this time frame. Once the term expires, then the coverage is no longer in effect unless you renew. Renewing term life policies can be more expensive since you will be older.

Whole life insurance is permanent and stays in effect your whole life as long as you pay your premiums. These policies also have a cash value and investment opportunities that can be redeemed at certain times.

Universal life insurance is similar to whole life insurance and is also a permanent life insurance option with cash value. However, these policies provide more flexibility than a whole life policy since you can use the built-up cash value to help with paying your premiums.

Contact Whit Blanchard Insurance Group in Augusta, GA to get a quote on life insurance.