Life Insurance Albany Georgia GA
Reader’s Question:
While discussing a new life insurance policy with our agent in Albany Georgia, he mentioned something called survivorship life insurance. That was a new one I never heard of before! I never really understood it what’s the deal, but was in a hurry to ask. Can anyone explain this to me in the context of getting an insurance?
Argyle
Albany, GA
Howdy Argyle,
We like it when you connect with your agent in Albany Georgia. Hopefully you were reviewing your existing insurance which we believe is essential to portfolio management. Survivorship life insurance is a great concept. It has some unique flexibility for your insurance policy in Albany GA. Survivorship life insurance is often referred to as second-to-die insurance. Actually, two individuals are protected with this coverage. Like most permanent insurance in Albany, the death benefit is guaranteed. However, survivorship life insurance does not pay the death benefit until both insured parties have died. You can probably tell that the primary purposes of this unique coverage are to provide the fixed death benefit and to preserve the owner’s wealth.
Usually owners of survivorship life insurance prefer the guaranteed death benefit to the merits of a more conventional cash value accrual policy. There are some interesting premium payment options available with this coverage. Survivorship life insurance policy holders are permitted to work with the carrier to develop an affordable amount of their premium payments. If you are considering this coverage, Argyle, you should meet with your agent in Georgia and review all the nuances of the product.
Tags: life insurance, life insurance policy
Cheap Life Insurance Georgia GA
Reader’s Question:
I am a high risk for diabetes since my blood sugar is on the borderline range, though I am not really diagnosed of diabetes. My family though has history of diabetes. Do you have any tips on how I can get my life insurance policy in Georgia to be cheaper than what I am currently paying for?
Ricky
Augusta, GA
Thanks for dropping by to ask, Ricky.
Well, I tell you one great secret on how you get your life insurance in Georgia on the cheapest rate you can…simply watch for and improve your health!
You can start by simply having regular medical treatments to monitor and stabilize your state. Diabetes can be improved and is no longer an uninsurable condition. That is why your insurance company can even lower your rates if you prove to them that you are improving your health.
You may also consider lowering your weight with regular exercise. Since your family has history, then you can simply watch your own health though regular check-ups and practicing a healthy lifestyle.
Most medical complications are caused by smoking so if you are a smoker, I suggest you better start quitting. It may affect you risk factors for diabetes. And besides, rates are really a lot cheaper for non-smokers.
You can start checking out rates over the internet. Simply type in your zip code on the zip code box located on this page.
Have a great time shopping online! Best of health!
Term Life Insurance Georgia GA
Reader’s Question:
I just moved to Georgia the past month and failed to pay the premiums for my term life insurance due to the heaped up things to do when I was moving. What will happen to my policy for such failure to pay?
Vince
Savannah, GA
Very interesting question Vince!
Same thing happened to my term life insurance policy last year. I missed to pay a premium due and I was given a 30 day grace period to pay the premium. But it still depends on the insurance company and the type of insurance policy you have. Some Georgia insurance companies would be strict about lapsed payments. Failure to pay within the grace period means that the policy will certainly lapse.
However, you may be able to reinstate with evidence of insurability depending on your policy’s provisions. With your authorization, the company can draw from a permanent policy’s cash surrender value to keep your policy in force (that is if, your policy has sufficient cash value). For term insurance, this is not applicable due to the absence of cash value. In most flexible premium policies, premiums may be reduced or skipped as long as there is sufficient cash value that remains in the policy.
The best thing you can do is to call your insurance agent in Georgia so you’d be assisted on your issue.
Life Insurance Georgia GA
Reader’s Question:
Am I required to submit a life insurance premium payment with my application in Georgia?
Rey
Columbus, GA
It is not mandatory, Rey, but it is optional. If you submit premium in Georgia with your application you may be provided with temporary or ‘Conditional Coverage’ during the underwriting period.
Georgia life insurance companies have different conditions on temporary coverage which are explained during the application.
Be reminded that there are coverage limits on temporary coverage and they vary by company. For temporary coverage, Premium is required to be submitted with the application. Depending on the company, coverage usually begins and ends at various points in the process.
If you are eligible for temporary coverage and would like to take advantage of this benefit make your check payable to the Georgia life insurance company. You are to submit the amount quoted for your first modal premium. To secure the temporary coverage, all forms and your check should have the same date.
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