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Life Insurance in Georgia
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Life Insurance for Residents of Georgia
Life can be a wild ride. We all need buffers to cushion us from whatever life throws at us. This gives us the chance to bounce back and give life all that we got. At The Nolan Group in Cumming, GA, we offer one such buffer, we offer life insurance. What this policy offers is financial peace of mind for your Georgia family in case you or a loved one passes unexpectedly.
This policy takes the form of a contract between a life insurer and the party that wants to be insured. In exchange for premiums, the insured’s beneficiary receives a lump sum upon the insured’s death. Life insurance policies are categorized according to the period or duration of the life insurance term. Protection for a predetermined period of time such as ten years is known as term life insurance and lifetime coverage is provided by permanent insurance. The reasons for selecting either of the options depends on different factors. It is important to note that benefits from life insurance policies are tax exempt.
Term life insurance
Designed to provide financial protection for a set period, it also has the benefit of having a constant premium payment over the duration of the policy. After the completion of the set time, there is an option for policy extension. This policy is usually taken up by people who aim to replace lost potential income during working years.
Universal life insurance
Designed to provide lifetime coverage, this type of permanent life insurance policy is flexible and may allow the raising and lowering of coverage amounts and premium payments throughout your lifetime. Often used to help preserve wealth as part of a flexible estate planning strategy, it can also be used as long-term income replacement.
Whole life insurance
Unlike the universal life insurance coverage, this type of permanent life insurance policy has fixed premium payments. It may function as a savings pool for wealth generation.
Regardless of where you are in Georgia, you can visit our offices in Cumming, GA to purchase a life insurance policy. Our experienced agents will help you acquire a policy that meets your needs. Learn more about a life insurance policy and let us help you get started.