Best Life Insurance Companies in Sandy Springs, GA

FAQs

• What information is required to obtain a term life insurance quotation in Sandy Springs?

  Most providers will need to know your gender, age, smoking habits, desired level of coverage, and term duration in order to provide you with a term life insurance quotation in Sandy Springs. The quote will give you a broad sense of the pricing, but you will need to provide more information to receive an accurate quote for your life insurance policy.

• Will the cash value component of your Sandy Springs life insurance policy affect the death benefit given to your beneficiaries?

  Your Sandy Springs life insurance policy's cash value feature has the potential to increase the total death benefit of your policy. This implies that if you die, your beneficiaries may get a bigger payout, merging both the initial death benefit and the accumulated cash value, as long as you specify that your cash value will go to your beneficiaries. Your insurance provider will keep the cash value if you don't choose that option.

• How can you figure out how much life insurance you actually need in Sandy Springs?

  To determine how much life insurance you need in Sandy Springs, add up your unpaid loans, credit card balances, and mortgages. Then, establish your projected income needs by considering your family's living expenses, the cost of your children's schooling, and any other financial objectives. Subtract the total from your current savings and assets. The resulting sum is a reliable estimation of the life insurance coverage amount you should consider buying.

• Who in Sandy Springs should think about purchasing a million dollar life insurance policy?

  A million-dollar life insurance policy in Sandy Springs is frequently appropriate for those who have substantial debt loads, make a lot of money, or want to leave an enormous legacy. Numerous elements, such as the insured's work, age, lifestyle preferences, state of health, and policy type, can affect the price of a million-dollar life insurance policy.

• Is there a limit on how many riders you can add to your life insurance policy in Sandy Springs?

  Although you generally won't need to purchase every possible rider, Sandy Springs allows you to buy any number of life insurance riders you'd like to pick. Remember that the more riders you have, the greater the coverage you'll get. However, the additional protection may come at a hefty price.

• 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.

• How does life insurance work?

  The details of how life insurance works depend on your individual plan, but the basics are as follows: 

  • You pay a premium to purchase the insurance. Typically the premium is paid monthly, but it could be rolled into quarterly, bi-annual, or annual payments. 
  • As long as you are meeting or have met premium obligations, if you pass away, the insurance company makes the agreed-upon payment to the beneficiaries you designated. 
  • Beneficiaries usually have to provide the insurance company with a death certificate to receive their payments.

• How much is life insurance?

  The cost of life insurance ranges widely. Term life insurance can cost as little as a few dollars a day, and whole life insurance can cost thousands per month on the high end. Factors that impact the cost of your life insurance include whether you're choosing term life insurance or whole life insurance, your age, how much coverage you want, your overall health, and your gender.

• Is life insurance taxable?

  Life insurance proceeds are the funds paid via your plan to your beneficiaries if you pass away. These are also called death benefits. Typically, these are not considered income for taxes. If you take out cash value from a whole life insurance investment and the amount exceeds how much you paid in premiums, the difference may be considered taxable income.

  
  

• Can I buy health insurance that is not Obamacare?

  When people say "Obamacare insurance," they typically mean insurance within the health insurance marketplace. You can get health insurance outside of the marketplace by going through your employer, choosing COBRA coverage if you leave your job, or buying a short-term health insurance policy through an insurance agent. ACA-compliant plans meet all the benefits and coverage requirements of the Affordable Care Act. But you may be able to find supplemental or short-term coverage that simply provides peace of mind for major medical expenses.

• Can I buy health insurance anytime?

  To buy health insurance in the marketplace, you must purchase it within open or special enrollment periods. But you can purchase short-term coverage to bridge the gap between now and the next open enrollment period. These plans are meant to be used for less than a year. You can purchase them online or via insurance agents, but they may not be ACA-compliant.

• Who should buy supplemental health insurance?

  Supplemental health insurance is a product that helps cover the cost of services that your primary health insurance policy doesn't. One popular option is secondary insurance that helps cover some of the costs associated with high deductibles. Medicare supplemental insurance is also popular. Medicare doesn't cover everything, and older adults on a limited income can face large prescription or medical bills after Medicare pays. Supplemental insurance helps reduce those patient costs.