Term Life Insurance In Georgia // Free Quotes & Tips For 2019
The Best Life Insurance Companies In Georgia
Living in Georgia, I know that our diet can be full of collard greens, fried chicken and a good strong southern breakfast.
But family is super important and making sure we have the correct type of life insurance for our loved ones is super important.
We put together this post so that you can have immediate access to the Georgia Department of insurance as well as their guaranty association.
You will also find out specific term life insurance information to the state of Georgia and have a better understanding of why you need life insurance if you live in Georgia.
In This Article
Comparing Georgia Life Insurance Quotes
What's The Free Look Period
When you purchase your life insurance policy you still have what is known as the "free look" period in which you can return the policy.
If you use the free look period, the insurance company must refund you all of your monies and the the policy will be cancelled.
The average free look period is 30 days; however, each company can have a different period so it is best to check with them directly.
How Life Insurance Rates Are Determined In Georgia
Age
Age is going to be one of the largest factors when determining your life insurance rates in Georgia. The younger you are when you purchase coverage, the more affordable it is going to be.
Gender
Your gender is going to be the second largest factor when figuring out your life insurance rates. You will find that women are going to have much more affordable rates than men, primarily because they live longer than men on average.
Tobacco Usage
If you are a tobacco user, you can expect your rates to be upwards of 65% more expensive on a monthly basis. With Cancer being a leading cause of death in Georgia, and since smoking increases your rates considerably, if you smoke, it's probably time to quit.
Coverage Amount
The amount of coverage that you purchase will also change your rates. The higher the coverage amount you purchase, the more expensive the policy will become.
Term Length
Term lenght is going to be a factor because the longer the term length the more expensive a policy will become. However, don't let this fool you, if you lock your rates in for a longer term, you will actually save more money over time.
Current Health
Everyone is underwritten on an individual basis, this means that if you have a twin, their rates can still be different if their health is different.
Driving Record
Life insurance companies want to know that you aren't a crazy driver. If you have a history of speeding, DUI's or DWI's you could be looking at higher rates or even a decline for coverage.
Top 10 Leading Causes Of Death In Georgia
It is essential that you purchase Georgia life insurance when you are young so that your rates are affordable.
- 1Heart Disease - 18,143 Deaths
- 2Cancer - 17,184 Deaths
- 3 Chronic Lower Respiratory Diseases - 4,805 Deaths
- 4Accidents - 4,021 Deaths
- 5Stroke - 4,349 Deaths
- 6Alzheimer’s Disease - 3,714 Deaths
- 7Diabetes - 2,238 Deaths
- 8Kidney Disease - 1,864 Deaths
- 9Septicemia - 1,565 Deaths
- 10Suicide - 1,423 Deaths
A life insurance policy would cover all of the above deaths, including suicide after 2 years of having the policy.
Georgia Department Of Insurance
Website: Georgia Department Of Insurance
Insurance Commissioner: Drew Lane
Consumer Insurance Helpline: (800) 656 – 2298
Office Hours: Monday - Friday 9:00 am to 5:00 pm
File a Consumer Insurance Complaint: Complaint Page
Find a Licensed Life Insurance Agent: Agent License Search Page
Georgia Life & Health Insurance Guaranty Association
The Georgia Guaranty Association was created to make sure that consumers were protected if a life insurance company become insolvent. Their contact info is below:
Website: Georgia Life & Health Insurance Guaranty Association
Phone: (770) 621 – 9835
Address:
Georgia Life & Health Insurance Guaranty Association
Marchman-Steele Agency, Inc.
Gwinnett Commerce Center
3700 Crestwood Parkway, NW
Suite 400
Duluth, GA 30096
Georgia Guaranty Association Protection Limits
Each state has a specific limit that they can go up to in case your life insurance company fails.
Pre July 1, 2012 Insolvencies
Post July 1, 2012 Insolvencies
Life INSurance resources
IN THIS ARTICLE
Sa El is the Co-Founder of Simply Insurance and a licensed Insurance Agent with over 11 years of experience in the industry. He specializes in Life & Health Insurance and is certified in Long Term Care Insurance in the state of Georgia. He is also a licensed real estate agent in the state of Georgia (License #382602), an entrepreneur, insurance educator, and freelance writer.
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