At Williams Turner & Mathis our team is happy to go far and beyond being simple Georgia insurance agents; we aim to be the trusted adviser you can depend on to protect the things that truly matter the most – your life, your ability to earn a living, and your lifestyle once you stop working. We offer a full array of life, disability and long term care products with many different insurance companies.
Life insurance options
Do you wonder why there are so many different types of life insurance? Term, whole life, universal life, mortgage, last expenses. The best option for you depends on your personal needs. Many times the best solution is a combination of products. At WTM our team of life insurance experts can help guide you through the maze of options to find best life insurance plan for you.
Life insurance definitions
Term Life Insurance is coverage for a specific term such as five, 10 or 20 years. The premium will remain the same for the duration of the term. Are you interested in having money to pay for your children’s education or your mortgage? Term is usually purchased for a specific goal which will help determine which term length is best for you. A term policy is usually the lowest-cost option.
Permanent Life Insurance could be whole life, universal or variable. These products are usually purchased with the intent to keep them your entire life. Traditionally the premiums will remain the same. The policy does build a cash value which is invested according to the policy terms. The policy owner can borrow the cash value as a loan.
Medically Underwritten Life Insurance premiums are based on your physical condition and lifestyle factors, among other things, which is why they ask if you skydive!
Physical/Paramedic Exam -Depending on the amount of coverage and other factors you may have to have a physical exam. Not to worry. The professional examiner will usually come to your office or home. Height, weight and a medical history will be taken. A urine or blood sample may be collected. This exam is paid for by the life insurance company and you can provide the results to your personal physician.
Beneficiary is the person(s) or trust you select to receive the policy benefits at your death. A contingent beneficiary is another selection you make in the event your first beneficiary is no longer living.
Rated is a term used to indicate that your premium has been increased due to a physical or medical condition, such as being a smoker or taking some medications.