Life Insurance

ATI offers comprehensive life insurance policies to Georgia residents at the State's most affordable prices.

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Why Choose ATI Life Insurance

If you have loved ones who you’re responsible for, then life insurance is a good way to make sure those loved ones have financial support when you’re gone. The purpose of life insurance is to make a lump sum payment to your beneficiaries after your death. Your beneficiaries can choose what they want to do with your death benefits once the insurance company pays out, such as paying off debt or making up for the loss of income that occurs from your death.

As the insured, you also have a choice in what kind of policy suits your goals and your loved ones’ needs. The most common types of life insurance are term life insurance and whole life insurance. Both policies can only payout death benefits through the payment of a monthly premium, the amount of which varies by the policy’s limits.

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Term Life Insurance

Term life insurance gets its name because the policy covers your life for only a set term, usually 10, 20, or 30 years. If you die within the term limits of the policy, your beneficiaries will receive your death benefits in a lump sum payment.

If you purchased a term life insurance policy and have not died within the policy’s term, you can typically renew the policy, extend it to a whole life insurance policy for a higher premium, or allow the policy to terminate. However, even if you choose to renew the policy, you may end up paying a higher premium. This is because premiums are generally determined by the policy holder’s life expectancy, which depends on the policy holder’s age and health.

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life insurance atlanta georgia
life insurance atlanta georgia

Term Life Insurance

Term life insurance gets its name because the policy covers your life for only a set term, usually 10, 20, or 30 years. If you die within the term limits of the policy, your beneficiaries will receive your death benefits in a lump sum payment.

If you purchased a term life insurance policy and have not died within the policy’s term, you can typically renew the policy, extend it to a whole life insurance policy for a higher premium, or allow the policy to terminate. However, even if you choose to renew the policy, you may end up paying a higher premium. This is because premiums are generally determined by the policy holder’s life expectancy, which depends on the policy holder’s age and health.

Why choose term life insurance?

Because of the conditions of term life insurance, these policies are usually less expensive than whole life insurance premiums. This makes it a good choice for young families with children who may not yet be able to afford whole life insurance or just want financial protection for their children during their years of dependency.

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term life insurance protect your children atlanta georgia

Why choose term life insurance?

Because of the conditions of term life insurance, these policies are usually less expensive than whole life insurance premiums. This makes it a good choice for young families with children who may not yet be able to afford whole life insurance or just want financial protection for their children during their years of dependency.

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Whole Life Insurance

As the name suggests, whole life insurance provides coverage for the entire life of the insured as long as the monthly premium is paid. Like term life insurance, beneficiaries will receive a payout in the amount of the policy limits, but whole life insurance policies also offer savings components.

Cash Value Benefits

Through the savings component, interest accrues into a cash value benefit. In order to build this cash value component, the policy holder can pay more than the monthly premium or regular monthly payments can be reinvested into the cash value account to earn interest.

The cash value component of a whole life insurance policy acts as equity for the policy holder, meaning that person can choose to withdraw those funds tax free or use them as a loan. If those funds are not utilized by the policy holder, they may become available to the beneficiaries. However, in this case, the interest accrued may be taxed upon payout.

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family protection insurance grandfather whole term whole life
family protection insurance grandfather whole term whole life

Whole Life Insurance

As the name suggests, whole life insurance provides coverage for the entire life of the insured as long as the monthly premium is paid. Like term life insurance, beneficiaries will receive a payout in the amount of the policy limits, but whole life insurance policies also offer savings components.

Cash Value Benefits

Through the savings component, interest accrues into a cash value benefit. In order to build this cash value component, the policy holder can pay more than the monthly premium or regular monthly payments can be reinvested into the cash value account to earn interest.

The cash value component of a whole life insurance policy acts as equity for the policy holder, meaning that person can choose to withdraw those funds tax free or use them as a loan. If those funds are not utilized by the policy holder, they may become available to the beneficiaries. However, in this case, the interest accrued may be taxed upon payout.

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whole life insurance georgia ATI insurance

Why choose whole life insurance?

With the cash value component, whole life insurance provides more benefits to the policy holder and beneficiaries than term life insurance. Basically, it might cost more, but you also get more out of it.

Furthermore, because whole life insurance doesn’t expire, you can be at-ease knowing your beneficiaries are protected at any point.

Want More Information?

Call ATI Insurance today for more information regarding life insurance policy limits and get a quote today!

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