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Georgia Life Insurance

Trying to understand Georgia life insurance can be like trying to read a book written in Greek, Hebrew, and Sanskrit.  The truth is life insurance does not have to be complicated.  While there are all different names for the types Georgia life insurance there are really only two categories; with an investment and without an investment.  Once you get that concept you can stop drowning in the terminology and be will on your way to becoming a Georgia insurance guru.

Georgia Term Life Insurance – No Investment

Georgia term life insurance is the simplest form of life insurance.  You pay the insurance company and they cover you.  No fluff, no frills, just insurance.  A typical policy will have three components: the face value, the term, and the premium.  The face value is the amount of money for which you are insured.  If you take out a one million dollar policy then it has a face value of one million dollars.  Basically the face value of any Georgia life insurance policy is the big number.  The term of the policy is the number of years that the premium will stay the same.  So if you have a 30 year term policy you will get that same rate for the entire 30 years.  The premium is the amount that you pay to keep the insurance active.  Most people have gone to annual premiums because that is the cheapest way to purchase life insurance. Some still choose monthly premiums but it is a little more expensive.  One nice thing about this type of life insurance is that no matter where you live it acts the same.  So if you are looking at Atlanta life insurance, Alabama life insurance, South Carolina life insurance, or Florida life insurance, Georgia term life insurance will act the same as term life insurance in those states (if you go here by accident and are looking for Florida you can find Florida life insurance HERE).

Georgia Life Insurance With An Investment

Pretty much every other type of Georgia life insurance has both the basic insurance and an investment part.  This means you get insurance just like Georgia term life insurance, but the policy also accrues a cash value that you can cash out later.  These policies are much more expensive that Georgia term life insurance because you are a gaining cash value and you are paying the insurance company for management of the account.  These two variables can make the other types of Georgia Life insurance twenty or thirty times more expensive.  If you have any questions about these types of Georgia life insurance policies feel free to contact us, but we tend to recommend Georgia term life insurance for most people.

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