In this article, we’ll cover everything you need to know about obtaining the lowest cost Georgia life insurance policy, the types of coverage available, and how to apply. Whether you are a resident of Georgia, or a neighboring state and wish to travel there to purchase life insurance, we’ve got the answers and expertise you’re looking for.
Life Insurance Policy Types
There are three common types of life insurance offered in Georgia, which are term life insurance, whole life insurance, and universal life insurance. Amongst term and universal policies, there are different variations available such as differing lengths of term (10, 15, 20 years), and so on.
You can also structure a Georgian universal life contract in various ways. If you plan to keep it for the duration of your life, you could either pay level premiums for life with a guaranteed death benefit, or you have the option to plan your policy’s values and benefits based on assumed cash value growth, rather than guarantees.
Cost of Life Insurance
We provide all three of these options in Georgia, term, whole, and universal life, with the exception being a sub-type of UL known as variable universal life. For sample 10 or 20 year term quotes, please use our form on the right.
This instant online quote will also provide guaranteed universal life quotes to age 95 or 120, but does not provide whole life quotes, so you’ll want to call us directly for help with a Georgia whole life illustration. 877-996-9383
It’s important to understand that there is no difference in cost between Georgia life insurance and any other state’s premium. For example, if a man takes out term life insurance at age 47 with Genworth Life Insurance’s Colony Term UL 30 product, the premium will be identical in Georgia as it is in California or Florida, or any other state.
Where Georgian life insurance is unique is in the number and types of products that are approved there. In some states, like Washington or New York, it may be difficult for an insurance company to get a product that they want to sell approved. But I haven’t seen that in Georgia. In any case I’ve seen, if a product is available in another state, it is usually also available in GA.
One example would be United Home Life who offers their Express Issue Whole Life policy in many states, including GA, but not in others like Massachusetts. So if you lived in MA, you couldn’t purchase that product even if you wanted to without traveling to another state nearby.
Purchase GA Life Insurance from Out of State
One way to get around a lack in product offerings in nearby states is to travel to GA to take the application. So if you life in Alabama, Florida, or the Carolinas, and need life insurance, you could just look for quotes in your state, but why not also expand your search to products available in states like Georgia? You may find a much better deal, and if you live close enough, or if the deal is sweet enough, you may find that it makes sense to come to Georgia to purchase your life insurance.
Of course, the same holds true for Georgian natives. When shopping for term or whole life insurance, you’ll want to also look at the offerings in neighboring states for the same reason.
Applying for Life Insurance
You can apply by phone or via request of an application with most agencies. For most policies, a short medical exam will also be required, at the expense of the life insurance carrier.
One requirement for applying for a Georgia life insurance policy is the owner must be there at the time when he or she signs the application, but does not necessarily need to be a GA resident.
Let’s say you’re a resident of Ohio, and are visiting family or are on vacation in Georgia when you are approached by a life insurance agent who solicits your business. If you apply for coverage in Georgia, the application forms and policy will all be written on GA forms.
How to Get Started?
Before applying with an agent, we recommend you get several quotes from at least two agencies. Some agents represent different life insurance carriers than others, and some agents may only represent one company, so you’re really limiting your chances of getting the best deal by only shopping with one agent.
Your best bet is to find an experienced independent agent in Georgia who can assess your life insurance needs, take your health history, tobacco use or non-use, and other personal details, and shop your case for you amongst a multitude of carriers.
We are one of these independent agencies, licensed with over 30 life insurance companies, so when you come to us for help, you’ll know the quotes we provide you are the absolute lowest prices available. For more information or to get started with an application for Georgia life insurance, sign up for some quotes using our instant quote form on the right or call us at 877-996-9383.