Life Insurance

Alabama and Georgia life insurance is a very important part of your personal safety net, especially if you have financial dependents.

When it comes to quality of life, Georgia offers low taxes, a low cost of living, and readily available healthcare. Yet Georgia is ranked number 41 in life expectancy in the country. If you live in and around Georgia, life insurance can help financially when you pass away. Planning for the future can be difficult. You should be able to spend more time enjoying life, not stressing over life insurance. Georgia residents, and people throughout Alabama can benefit from the expert advice of our knowledgeable agents.

Here at Ragan Insurance, we offer two types of life insurance: whole and term life insurance. Individuals and families considering these options should know that there are benefits and drawbacks to each type of policy, so it is important to weigh your options and speak to an insurance professional about your needs prior to purchasing life insurance.

Term Life Insurance Basics:

  • Coverage for a “term” or period of your life.
  • Lower premiums for higher coverage.
  • Rates can change after specific terms expire.
  • No equity – cannot be used as cash value.

Whole Life Insurance Basics:

  • Exactly like it says – permanent, not for a specific period.
  • Protection carries with you your whole life.
  • Can build equity and have cash value.
  • Higher premiums than term life, but can be more valuable in the long run.

Term and Whole Life Combined:

  • Build lifelong base of whole live coverage.
  • Supplement specific times of your life with term insurance.

When to choose term life?

Most people choosing term life have a strategy for long term net worth. They need specific coverage for a period of their lives to protect debt, loved ones, and children. For a homeowner with children it may make more sense to have a term life policy that covers the mortgage and living requirements until their children are old enough to provide for themselves – in this case the term would expire around the time your children move out.

When to choose whole life?

Whole life can be used in the retirement years as cash assets. It can provide equity for loans and have fixed payments that do not increase with time. Often times whole life policies will pay dividends – although not always.

If you have any questions or would like to speak to someone about Georgia life insurance please feel free to call a Ragan Insurance representative. We are always available, and are looking forward to doing everything we can to earn your business.