Not everyone needs life insurance, but for residents of Rome, GA, buying the policy is important. Finding the right life insurance policy calls for effective guidance. At Coosa Valley Financial Group, we provide directions on the types of life insurance policies you can consider.
Term Plan Insurance Policy
In this type of insurance policy, you pay solely for life cover. The amount you pay as a premium is for a specific number of years. In return, the insurer pays the amount assured to your family when you meet an untimely death. There are no mature benefits and covers for a lesser premium.
Whole Life Insurance Policy
As the name suggests, you get cover for life with this type of life insurance. The insurer has the mandate to pay a nominee of the policyholder after you meet an untimely death. This is as long as there is the regular payment of the premium amount. There is also the saving component in this type of coverage, making it better in the long run. For residents of Rome GA, this serves as a suitable policy to consider.
In this type, there is the incorporation of savings and protection. Unlike other policies, you receive a portion of the sum guaranteed at regular intervals during the policy period. Once matured, you get the remaining amount along with the bonus.
There is also a combination of savings and protection in endowment policies. A nominee in the case can also receive the sum assured in the case of the policyholder’s untimely death. However, the policyholder receives the total payout after surviving the policy term. It is also easier to make goal-based savings with endowment policies.
Learning about life insurance policies comes with many benefits. As Coosa Valley Financial Group, we commit to guiding and helping you make informed decisions. Contact us today for advice and guidance.