If death and taxes are two certain things in life, then life insurance should be a priority. Even those who do not feel the need to consider end-of-life preparations should consider the financial effects on loved ones when a person dies without coverage. Such is especially true if you are the head of a household in Ball Ground, GA. Your family’s lives may be turned upside down if you do not secure some type of financial stability through a life insurance plan.
You know that life insurance is an absolute necessity. Is it possible, however, to take advantage of term life insurance instead of purchasing a whole life insurance plan? The agents at The Sanford Group can help answer that question.
What does term life insurance offer?
A term life insurance plan covers your final expenses up to the term limits that you choose. A good plan typically pays for funeral costs as well as other household bills you would be responsible for as the head of a household.
A term life insurance policy does not go into effect until the policyholder is deceased. Thus, you cannot borrow against your plan for emergency expenses or take the family on a much-needed vacation. Whole life insurance policies allow for borrowing against the interest while the policyholder is living. Such is the reason they tend to be more popular among those with families.
Is term life insurance right for you?
A term life insurance policy may be the right choice if you are young and have few assets. Middle-aged adults who are single may also find such an indemnity plan beneficial.
You may want to weigh your options and compare life insurance types if you have a lot of assets in Ball Ground, GA. Call The Sanford Group today to get a full explanation of what term life insurance offers.