Don’t leave the future of you and your loved ones to chance. Martin Farmer’s Agency can help you find the right Buford Georgia life insurance coverage for you, and help ensure that your policy continually meets your needs.
Life Changes. So Should Your Life Insurance Policy.
For each of our neighbors in Georgia, the right life insurance will be dependent on personal and financial needs. As your life changes, your life insurance coverage may need to change in order to adapt to your current circumstances. Some life transformations that may require a policy “tune-up” include:
- You’ve recently gotten married or gotten divorced
- You’ve had a new child or grandchild
- You’ve opened or expanded a personal business
- Your health or your spouse’s health has deteriorated
- You’re providing care or financial assistance to a parent
- Your child or grandchild requires long-term care or other assistance
- You’ve recently purchased a new home
- You’re planning for a child or grandchild’s education
- You’re concerned about retirement income
- You’ve refinanced your home mortgage in the past six months
- You or your spouse have recently received an inheritance
- You have a sizable estate
What You Need to Know About Life Insurance
Martin Farmer’s Agency can help you select the best life insurance coverage for your needs. There are several different types of life insurance products available – the most common include:
- Term Life Insurance
Term life insurance provides protection for a specified period of time. If you do not currently have life insurance, term can be a good place to start. It’s generally less expensive than permanent (whole) life insurance, and is available in varying time periods with fixed premiums from a one year (annual renewable term) to 20-year (level term) period. Furthermore, term life insurance is sometimes convertible to permanent coverage, providing you with flexibility as your needs change.
- Whole Life Insurance
Whole life insurance is a form of permanent life insurance that remains in force for your entire lifetime, provided premiums are paid as specified in the policy. Whole life insurance can be an investment opportunity, as many whole life insurance policies also build cash value over time.
- Universal Life Insurance
Universal life is a form of permanent life insurance characterized by its flexible premiums, face amounts and unbundled pricing structure. Universal life can build cash value, which earns an interest rate that may adjust periodically, but is usually guaranteed not to fall below a certain percentage.
What type of life insurance is best for you? Talk with the team at Martin Farmer’s Agency. We can assist you in identifying the best life insurance protection.
Advantages of Life Insurance
Having the right life insurance is essential to planning for your present and your future. Not only can life insurance provide peace of mind for your family, after you’re gone, many life insurance policies offer other benefits and investment opportunities that you can take advantage of while you’re living.
- Life Insurance Death Benefit
When you pass away, your life insurance provides income (tax-free) to your named beneficiary or beneficiaries that can be used to pay funeral expenses, debt, tuition, estate taxes, or virtually any financial need. Your policy can help provide security for your business as well, by enabling partners to buy out the interests of a deceased partner and prevent a forced liquidation.
- Life Insurance Living Benefits
The cash value growth of a permanent (whole) life insurance policy is tax-deferred, meaning you do not pay taxes on the growth of cash value, unless money is withdrawn from the policy. Loans or withdrawals can be taken against the cash value of a permanent life insurance policy to help with other expenses, such as college tuition or the down payment on a home.
The right life insurance coverage for each and every one of our customers in Georgia is unique. Talk with Martin Farmer’s Agency today to find out how to protect your family and your future with the right life insurance.