Life Insurance

You love your life in Metro Atlanta and wouldn’t want there to be disruption to your family’s wellbeing after you’re gone. Knowing that you will leave your loved ones financially protected can deliver great peace of mind, especially with the confidence that you’ve chosen the right kind of life insurance for their needs. As an independent insurance agency in Atlanta, The Henry Agency works with a variety of carriers to locate the best life insurance coverage for your needs.

What kind of life insurance is right for you?

There are several types of life insurance, with varying rates, terms and benefits. Here are the most common:

Whole Life Insurance
A permanent life insurance that remains in effect for a lifetime, as long as premiums are paid as required. This type of insurance can also be considered as an investment opportunity, since many whole life insurance policies build cash value through the years.

Protection for a specified, finite period of time. This type of life insurance is a good place to start if you don’t have an existing policy, as policy costs are generally lower than whole life insurance. Term policies offer fixed premiums for a specific period of time, generally 10, 15, 20 or 30 years. As an added benefit, some term life insurance can be converted to a permanent coverage policy when that is what you need.

Permanent life insurance defined by flexibility in premiums and pricing. Like whole life, this type of insurance can build cash value, with an adjustable interest rate that is usually guaranteed to stay above a specified percentage.

Benefit Types

Living Benefits
The value of your whole life insurance policy is tax-deferred, so unless you withdraw from the policy, no taxes are applied. Policyholders can withdraw from or borrow against a whole life insurance policy to help with life expenses, such as a home down payment, college tuition or unexpected costs.

Life Insurance Death Benefits
Your policy will secure tax-free funds to your beneficiary that can cover virtually any financial need, including funeral costs, outstanding debt and taxes and tuition for your children.

If you own your business, this benefit can provide security there as well by preventing a forced liquidation and allowing remaining partners to instead buy out your interest.

How will you know it’s time to change insurance?

Your life insurance needs to keep pace with your changing life. Here are some key occasions that would trigger re-evaluation of your Georgia life insurance coverage:

  • Marriage or divorce
  • Children or grandchildren
  • The purchase of a new home
  • Declining health for you or your spouse
  • You are providing care to an adult parent
  • Planning for your child’s or grandchild’s education
  • Planning for retirement
  • Your assets have grown or declined
  • You or your spouse receive an inheritance

Planning life insurance for your family can feel confusing. Be sure to contact The Henry Agency for guidance in selecting the right Georgia life insurance for your family.