Dahlonega, Georgia
102 Memorial Dr
Dahlonega, GA 30533
(706) 864-3515

A Brief Guide to Life Insurance May 18, 2020

Dahlonega, Lumpkin
A Brief Guide to Life Insurance, Dahlonega, Georgia

Life insurance is one of the most important investments you can make, but the purpose and benefits of this coverage are often misunderstood. Young, healthy people often view life insurance as something to worry about later in life. However, people of all ages can take advantage of these coverage plans.

4 FAQ About Life Insurance

What does life insurance do?

A life insurance policy protects those you love by providing them with the financial resources to carry on if something happens to you. This allows you to continue providing for your family after you’re gone, relieving the financial burden of your lost income.

Do I need coverage if I’m single with no children?

life insuranceEven if no one currently relies on you for financial support, you should consider carrying life insurance. Premiums are lower when you’re young and healthy, but increase as you age and become more at risk for health complications. It’s important to have a policy when you’re single, so by the time you start a family, you’re not stuck paying higher premiums. 

Purchase a plan that will cover your expenses and any outstanding debts, like credit cards and student loans. Otherwise, your family may be expected to take on thousands of dollars of debt, which can be a substantial financial burden.

How much life insurance do I need?

The amount of coverage depends on your obligations and goals. For instance, you may want to leave enough for your spouse to pay off the mortgage, start a college fund for your children, or permanently replace your income. 

What’s the difference between whole & term life insurance?

Term insurance policies pay a death benefit to your beneficiaries if you pass away within a specific period of coverage time, usually between 20 to 30 years. Whole life policies never expire and typically include an investment component that builds wealth over time. Many companies allow you to withdraw or borrow against the value of the plan, which can give you the resources to weather emergencies as you age.

 

 

Choosing a life insurance policy can be confusing and overwhelming, but the agents at Stringer Insurance Agency are here to help you make the right choice. Their trusted agents serve families throughout Dahlonega and Gainesville, GA, providing exceptional service since 1931. Visit their website to learn more about their life insurance options, call (706) 864-3515 for a free quote, and follow them on Facebook for more tips and insight.

Other Announcements, Events and Deals from Stringer Insurance Agency
How Do Life Insurance & SSI Affect Each Other?, Dahlonega, Georgia
Social Security and life insurance have some similarities. Both provide financial benefits that help your family. However, the insurance plan you have can impact the amount...read more
3 Immediate Steps to Take After Your Car Has Flooded, Dahlonega, Georgia
Flooding is one of the most frustrating causes of damage to your car, possibly requiring extensive and costly repairs if water gets into the engine. Even minor dampness in the interi...read more
3 Tips for Dealing With Aggressive Drivers, Dahlonega, Georgia
You may encounter aggressive drivers on the road, whether it’s people who get angry easily or who are just in a rush to get somewhere. Defensive driving will protect you and oth...read more
What to Do If Your Job Doesn’t Provide Health Insurance, Dahlonega, Georgia
Many individuals with health insurance receive this important coverage through their employers. Yet, in some scenarios, a job might not come with this perk. Employees who work for sm...read more
4 Safety Tips for Your Summer Road Trip, Dahlonega, Georgia
The summer road trip is a time-honored tradition and a chance to make memories that will last a lifetime. However, the road can be unpredictable, with a variety of hazards that could...read more