Atlanta is the most populous city in Georgia. It makes this city one of the busiest cities in the United States. If you live in this kind of city, you need to secure your family in case something happens to you. You can consider life insurance Atlanta as an option to do that. Are you interested? We have the information for you.
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What is Life Insurance?
Life insurance is a type of insurance in which you buy a binding contract for your life. The insurer then pays a death benefit to policyholders when the insured person dies. For example, if you are a parent of underaged children. You want to prepare beforehand, in case you die but your children still need proper care.
In other words, when you buy life insurance, you pay the premium for a certain time or lifetime depending on your policy. You will gain a cash value for a death benefit which is for your heir after you die. If your policy allows it, you can use your cash value as a living benefit.
Life insurance has two types—term and permanent life insurance. Term life insurance is where you buy life insurance for some years, like 10, 20, or 30 years. When you choose term life insurance, you have three choices of term:
- Decreasing term is that the coverage decreases over time at a predetermined rate.
- Convertible term is a term that allows you to change to permanent life insurance.
- A renewable term is a term that gives you a quote annually to renew the policy.
On the other hand, permanent life insurance is life insurance that lasts for a lifetime as long as you pay the premium. Permanent life insurance is divided into two: whole life insurance is insurance in that you accumulate a cash value until you die. Also, universal life insurance allows you to adjust the premium rate.
There is also indexed universal life insurance. This insurance allows you to build wealth while providing a death benefit to your heir. The other one is variable universal life insurance. This insurance lets you accumulate the cash value and invest it into a sub-account for the greater good.
Permanent life insurance is more high-priced than term life insurance. However, other factors affect the rate of premium. The factors include age, gender, lifestyle, health, driving record, tobacco consumption, and family medical history.
Where to Find Life Insurance Atlanta
Life insurance agencies can be anywhere; you can even find it online. However, if you live in Atlanta, you might wonder where to find life insurance Atlanta. Maybe you prefer to meet directly with the agents. Don’t worry, we have some recommendations that can be your consideration.
1. MassMutual
MassMutual is a good life insurance company with exceptional financial strength. The company has positive reviews about its performance. Additionally, they receive fewer complaints than competitors. They have online accessibility and are easy to claim.
MassMutual allows building cash value in some policies like whole life insurance in the early years. They provide several types of life insurance, such as term, whole life, universal life, and variable universal life insurance. They also offer facilities like life insurance riders which you can add extra coverage to your policy.
MassMutual is a well-known life insurance Atlanta. This provider will give you the cheapest coverage of $250K. However, the recommended coverage in Georgia is $650K. The price is due to living costs, average costs, average age, and other factors. But still, MassMutual is the cheapest life insurance next to Nationwide.
2. Nationwide
Nationwide is our next recommendation you can consider. This company has many positive reviews from customers. They offer various types of policies. Not to mention, they have exceptional internal costs for your cash value. They also allow you to pay using credit cards. However, not all of the policies are available online.
Nationwide also provides several types of life insurance like term, whole life, and even universal life insurance. However, they are praised for their life insurance riders. This rider allows the insured to accelerate the death benefit if they have chronic, critical, or terminal illnesses without additional payment.
Nationwide is a good life insurance Atlanta. In Atlanta, this company is well-known for giving cheap premium rates. For coverage of $926K, this company can charge a monthly premium rate of $22K for men and $19K for women.
3. Mutual of Omaha
Mutual of Omaha can be a good option for you seeking life insurance Atlanta. You can purchase their good policies with a no-medical exam. They also offer various policies and riders and you can purchase the policy online. They have quality investments. Therefore, you can buy whole life insurance with a low-cost premium.
This company provides standard life insurance policies. However, some policies give you unique benefits. For example, Mutual of Omaha allows you to accelerate death benefits without extra cost at certain policies like term life express and Index Universal Insurance Express.
In Atlanta, this insurance is quite famous for young adults. They would charge young people a monthly premium of $19. This is cheaper compared to MassMutual’s rate of $20 or Nationwide’s rate of $24. As a result, this life insurance can be promising for young adults. However, keep in mind that not every policy is available online.
4. Northwestern Mutual
Northwestern Mutual is the most popular life insurance in Georgia. They have a good reputation among customers. This company has exceptional financial stability. It is also very consistent in paying dividends. Therefore, it makes this provider very eligible for life insurance Atlanta.
Northwestern Mutual provides four types of life insurance. Those include term, whole life, universal, and variable universal life insurance. Northwestern Mutual’s coverage can vary depending on the policy. For example, term life insurance has a coverage rate of $100K, while universal has a rate of $500K.
Let’s Get Life Insurance Atlanta!
Now, you know some information about life insurance Atlanta. Life insurance is beneficial as a safeguard preparation for you. In Atlanta, there are many life insurance policies to consider. MassMutual and Nationwide are good examples. Find what fits you and get the benefit from it.