When you’re looking into getting a life insurance policy, you’ll have to decide whether a term life or whole life policy would be best for you. There are many differences between them, and the one you choose may depend on your age, budget, and personal preferences. Both types of policies pay out a death benefit when the policyholder dies. Each of them is important for keeping a family protected against the loss of a breadwinner. If people depend on you, you need life insurance. To get started and to learn more, contact us at North Georgia Insurance Center, serving the Commerce, GA area.

How Term Life Insurance Works

Term life is a type of life insurance that stays in place for a set amount of time. It will have a specific term associated with it, and once that term ends, the policy expires. This is generally a number of years, such as 10 or 20 years. When the policy expires, the policyholder has to apply for a new policy in order to be covered again. These are simpler policies that don’t come with a lot of other benefits, though they are less expensive than whole life policies.

How Whole Life Insurance Works

Whole life insurance never expires. When you get a policy, you can keep it for as long as you want to. The policy also builds up a cash value that the policyholder can borrow against. These policies do cost more, but many people appreciate never having to get a new policy to stay covered.

Get Life Insurance

When you’re interested in life insurance, it’s important to talk about your specific needs in terms of length of time and budget. Whether you choose term life or whole life insurance, we’re here to help. Call us at North Georgia Insurance Center, serving Commerce, GA.