Life Insurance in Athens, GA

Life insurance can play a crucial role in securing the financial well-being of individuals and their loved ones. In the event of the policyholder’s death, an insurance can help replace lost income, cover outstanding debts and meet the other financial needs of the beneficiaries.

What Is Life Insurance?

An insurance is an agreement between a person and an insurer, where the person makes regular payments known as premiums. In return, the insurer may make available a sum of money, known as the death benefit, to the person’s beneficiaries upon the policyholder’s demise.

The main objective of getting insured is to offer financial security to the insured’s dependents after their passing. There are several types of life insurance policies, including term life, whole life, universal life and variable universal life.

Each type has advantages, restrictions and conditions that must be evaluated before making a choice.

When Should You Buy an Insurance?

When you have dependents who may be financially impacted by your death, life insurance can be a prudent choice. In other words, if a loved one depends on you for money, you should consider taking out a policy. That way, they or their caretaker can pay the bills after you pass away.

It can be advisable to consider purchasing a policy at a younger age, especially if you can lock in a low rate.

Is Life Insurance Expensive?

The following factors can influence the cost of an insurance:

• Age
• Health
• Family medical history
• Occupation and hobbies
• Driving record
• Criminal record
• Recent financial issues
• Coverage length and amount

Individual circumstances vary, so it’s essential to consult with a financial advisor to determine the right policy for you. Contact COE Agency to discuss life insurance policy options.