How Whole Life Insurance Works

When you have a family, life insurance is an important way to be responsible. Not having life insurance can make others suffer financially as well as to be unprepared for your final expenses. If you are interested in a whole life insurance policy, call us at Ransom & Associates Insurance Agency in Winder, GA to find out more. 

How Whole Life Insurance Works

Lifelong Protection

The reason that whole life is named as such is that it is coverage for your whole life. That is, it continues all the way to the end of your life no matter how old you get. Many people choose this type of life insurance because it doesn’t expire at a certain time like term life insurance does. There is no term period to worry about. You can simply keep the coverage for the rest of your life. This can give you a strong sense of peace of mind in knowing that your expenses will be covered and your loved ones will be taken care of when you’re gone. 

Cash Value

Another important aspect of whole life insurance is that it will build up a cash value over time. After a few years of paying premiums for the coverage, a part of the profits made by investing those premiums becomes available to you as cash value. This amount of money can be borrowed against when you are in a financial bind. This gives you even more peace of mind when you know that you have a way out of a serious financial situation if you should need it. 

Get Your Whole Life Insurance Policy

If you are interested in whole life protection, give us a call today at Ransom & Associates Insurance Agency in Winder, GA to find out more and to get started with a life insurance policy of your own. 


Questions to ask when purchasing life insurance

Thinking about purchasing life insurance? It can be stressful. Who can you ask all the questions running through your head? At Ransom & Associates Insurance Agency in Winder, GA, questions are our specialty. We are locally owned and operated and our team is dedicated to making sure we provide our clients with not only answers to their questions but personalized insurance products to meet their needs. 

I get life insurance through work enough is that enough?

That really depends on how much life insurance is provided by your employer. It may not be anywhere near enough to provide the safety net you need for your loved ones. Keep in mind, that life insurance from an employer will usually go away when you stop working for that employer. 

Is a physical required to get life insurance?

You may need to get a physical, but it is not always required. Chances are you will have to answer a lot of health questions. To have the maximum amount of choices, you will need a physical exam. 

I’m going to retire do I need life insurance?

Each case is different but if you are financially secure and have made sure your final expenses are provided for, probably not. If however you still have people who rely on your income and even your income in retirement and might not be financially stable without you, then yes you still need life insurance. Talk to your financial advisor before making this important decision. 

How much life insurance do I need?

Enough to make sure those you leave behind will be taken care of financially. One answer won’t do, everyone will have a different need. Your financial advisor or insurance agent can help you with the figure you need. 

Contact Ransom & Associates Insurance Agency in Winder, GA when you need to know more about life insurance.