Life Insurance in Norcross, 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.
Term Life Insurance Quotes: How to Compare and Find the Best Rate
To effectively compare term life insurance quotes, determine the coverage amount and term length that fit your needs. Then, request quotes from multiple insurers, making sure to compare each company’s price and customer service reputation.
Factors like age, health, lifestyle, and whether you smoke can significantly affect your rate, so be honest during the application process to get accurate quotes.
Whole Life vs. Term Life Insurance: Which Is Right for You?
Term life insurance is typically more affordable and provides coverage for a set period, making it ideal for those with temporary financial responsibilities like a mortgage or raising children.
Whole life insurance can provide lifelong coverage and build cash value over time, which can be useful for long-term financial planning. The right choice depends on your budget, goals and whether you want insurance to provide a death benefit and serve as an investment.
Affordable Life Insurance for People Over 60
Simplified or guaranteed issue policies can help people over 60 get life insurance. Term life may be available for shorter durations, while whole life or final expense insurance can offer lifelong coverage with smaller benefit amounts. Your agent can help you compare options, as premiums increase with age and health conditions.
How to Get Life Insurance
If you’re in need of a life insurance policy, we’re here to help. Give Express Insurance Services a call or request a quote online to get started.