Purchasing Life Insurance in Marietta, Ga.
Life insurance in Marietta, Ga is just as important as it is everywhere else in the country. It’s important that you have an adequate amount of coverage, but it’s also important that you don’t break your budget trying to pay for too much. Finding the right balance will depend on a variety of circumstances.
See also: Life Insurance in Atlanta – if you are in the market for the best life insurance Atlanta rates and life insurance coverage, then give Waggoner Insurance a call today at 770-434-4000. Get the life insurance your need for you and your family!
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The best way to determine which product is right for you is to discuss your options with your Marietta life insurance agent. While there are a variety of considerations to be made when purchasing life insurance, here are three of the most important:
1. Do you want term or whole life insurance? The easiest way to understand the differences between term and whole life is to think about it like a house. Term life insurance is much like renting: you pay your premium when it’s due and the lease expires after a set amount of time. This could be 15 years, or as much as 30. Whole life, on the other hand, is like purchasing a home. You pay your premium every month and once the balance is satisfied, you own the policy for the rest of your life. Term life insurance is typically less expensive than whole life, but whole life gives you an investment with equity.
2. How much does your family depend on you? If you are the only financial contributor to the household, then your death could result in financial ruin for your family. Even if you and your spouse/partner both work, the loss of your income will still leave a financial hardship. Life insurance in Marietta is designed to protect your family, not yourself. It’s certainly something to think about when you’re trying to decide if you should purchase a life insurance policy or not.
3. How much coverage do you need? This is often the biggest question asked, and there is no simple answer. While it’s always better to have a modest policy than no policy at all, not having adequate life insurance coverage can still leave room for financial hardship for your family. You’ll need to consider what your average annual salary is, how much outstanding debt you have, and how much you average spending on bills every month.
The goal of life insurance is to leave your family enough money to cover your final expenses, pay off any debts—including the mortgage, and have some left over to cover the normal expenses until your spouse/partner can find adequate employment. Some people like to take out a policy for even more than needed just to be safe, or to allow their spouse/partner to continue to be able to stay at home.
Life insurance in Marietta is a big decision, so it’s important that you speak with an agent who is knowledgeable in the area.
Conatact us at Waggoner Insurance by calling 770-434-4000 and let us help you determine the level of coverage that is right for your family.