Best Life Insurance Companies in Johns Creek

Frequently Asked Questions

• Why is it important in Johns Creek to be honest about your health during a life insurance application?

  It is critical to be truthful during a life insurance application in Johns Creek because any material misrepresentation can be used to deny a claim. When adjusting insurance premiums, insurers want to know how likely a person is to die, and one's state of health is the most important factor in predicting that.

• In Johns Creeks, what is the advantage of choosing an independent life insurance agent?

  When shopping for a client in Johns Creek, an independent insurance agent is free to choose from a wider range of insurers and products. They are not tied to any one insurance company, so they are free to mix and match different options to meet the needs of each customer.

• In Johns Creek, what is the cash value of a whole life insurance policy?

  The cash value of a whole life insurance policy in Johns Creek refers to the savings accumulated by the plan as the insured pays premiums. The higher the cash value, the more premiums the person has paid. This can be withdrawn while the insured is still alive to pay for emergency expenses, but it reduces the death benefits.

• In Johns Creek, what is meant by the words tax-deferred when referring to life insurance proceeds?

  In Johns Creek, the term tax-deferred means that the appreciated value in a life insurance policy's proceeds or cash value is not subject to income taxes until a payout or withdrawal is made. If the withdrawal is made late enough in life, there may be no income taxes owed at all. However, estate taxes may be due depending on the beneficiary and estate planning used.

• What distinguishes universal life insurance from whole life insurance in Johns Creek?

  A universal life option in Johns Creek is a life insurance policy that covers the insured party's entire life and that has a cash value. It is similar to a whole-life plan but differs in the payment of premiums. Premiums are flexible in a universal life policy but are permanently set in whole-life options.

• Which is better, term or whole life insurance?

  Life insurance is a personal financial tool, so the right type of insurance for you depends on your goals and current situation. One of the main differences between term life insurance and whole life insurance is that term life insurance only covers you for a set period of time. Once you meet the premium payment requirements on a whole life plan, it covers you for the rest of your life. Whole life insurance also builds cash value, making it a potential investment. But whole life insurance is typically much more expensive than term life insurance.

• How much life insurance do I need?

  A common recommendation is purchasing life insurance that is equal to five times your current salary, or more. But you can also estimate how much life insurance you need by adding up your debts, annual expenses for dependents multiplied by the years you want to ensure support, and any other items you wish to cover, such as a future wedding or college tuition.