Life Insurance

When you die, your loved ones could be left with unexpected costs (e.g., burial fees and estate taxes) that could result in financial hardship. Finding the right life insurance policy is one way to ensure your family will receive the monetary protection they deserve after your death. 

Our life insurance policies can provide peace of mind. Contact Granite Risk Advisors in Marietta, Georgia, to speak to an agent and learn more about our life insurance offerings. 

What Is Life Insurance? 
A life insurance policy is a legally binding agreement between you and your insurance company. In exchange for your premiums, they will pay death benefits to your beneficiaries when you die, in accordance with your policy terms.  

What Does Life Insurance Cover? 
Although specific life insurance offerings may vary between policies, here are some common forms of coverage: 

• Final expenses coverage can help pay for your funeral fees, burial costs and other estate administration costs.
• Lost income coverage can help provide monetary support to beneficiaries who depend upon your annual salary for financial stability.
• Estate taxes coverage can help pay taxes associated with the transfer of your estate.
• Some life insurance offerings will also enable you to create an inheritance, which can allow you to pass on your wealth and assets to chosen beneficiaries. 

How Does Life Insurance Work? 
There are two primary forms of life insurance that you may be able to choose from. The way your policy works will vary based on the type of coverage you select.  

Here’s what you should know about the different forms of life insurance: 

• Term life insurance provides coverage for a set amount of time (e.g., 10 years or 20 years). After that term is up, your beneficiaries will no longer receive death benefits when you die. Such coverage is generally the less expensive of the two types of life insurance.
• Permanent life insurance (also known as whole life insurance or universal life insurance) provides coverage for the duration of your life. This coverage has a level premium, meaning your insurance costs will stay the same over time, even as you age and require more health care. In some cases, you may also be able to use this coverage to accrue wealth by borrowing or withdrawing money from your policy. 

How Do I Buy Life Insurance? 
Choosing the right life insurance policy takes time and effort. Contact Granite Risk Advisors to learn which type of coverage could be right for you and to get started with a quote today.