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Life Insurance in Acworth, GA

After losing a loved one, family members may face significant financial stress in addition to their grief. Understanding and investing in adequate life insurance may be critically important. 

Why Is Life Insurance Important? 

Life insurance can provide critical funds and resources for beneficiaries following the death of a loved one. Such tragic times can have significant and far-reaching financial ramifications for those who must manage various expenses and losses directly and indirectly related to the passing. Fortunately, life insurance can provide a payout following the death of an insured, which may then be used for various fiscal needs, such as the following: 

  • Income replacement 
  • Funeral expenses 
  • Estate taxes 
  • Outstanding debts 
  • Health care costs 
  • Additional expenses (e.g., college tuition and childcare services) 

How Much Life Insurance Do I Need? 

Everyone’s life insurance needs are unique. When determining the right amount of coverage necessary to protect their families financially, policyholders should consider many factors, including the amount of income they would need to replace, alternative financial assets and savings, outstanding debts, and the current status of their dependents. For example, parents with young children may want to retain certain levels of coverage to ensure financial security until adulthood. In contrast, empty nesters may not require as much life insurance because they may have no dependents. 

How Is a Life Insurance Premium Calculated? 

Because a person’s life insurance needs are unique, their premiums may also vary significantly. When providing quotes for coverage, life insurance companies may consider the following criteria: 

  • Age 
  • Location 
  • Type of policy (e.g., term life insurance or whole life insurance) 
  • Health records 
  • Lifestyle habits (e.g., dangerous hobbies and professions) 
  • Coverage limits 
  • Personal details (e.g., driving record, gender, marital status and family medical history) 

Get the Right Coverage 

At D. Ward Insurance Services, we have a history of service dating back to 1988. Our dedicated staff will use this extensive knowledge and experience to help you assess your life insurance needs and secure ideal coverage. Contact us today to learn more or get a quote for a personalized life insurance policy. 

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