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Is Life Insurance Worth It?

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April 28, 2022

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If you think a life insurance policy would be worth it for you, it most likely would be, but you first have to understand the policies available to you and what they offer before buying. In this article, we’ll answer the question, is life insurance worth it?

Let Magnolia Insurance Agency walk you through this process to better understand why life insurance may be right for you and why it is beneficial.

Is Life Insurance Right for You?

Whether or not life insurance is “worth it” is an incredibly individual decision. You need to consider those close to you, your financial situation, and any preparations you already have in place to take care of any final expenses.

If you are close to individuals that you would want to be financially cared for in the event of your passing, then life insurance is most likely the right choice for you. Purchasing a policy can give you peace of mind and assurance that your loved ones will have the financial security they need to cover any debts or final expenses left behind after your passing. This is one of the biggest benefits life insurance offers and is one of the most common reasons these policies are purchased.

Sometimes people will choose organizations instead of individuals as their beneficiaries. This can be an excellent way to leave behind a legacy and support a cause that you believe in. If you think this could be the right choice for you, then consider what organizations you would like to support.

Buy Life Insurance When You’re Young

If you’re considering purchasing a policy, it’s best to do it sooner rather than later. Many policy premiums will increase with age. Generally, the younger and healthier you are, the cheaper the policy. The older you are, the more risk the insurance company sees it will take on to insure you. 

If you’re ready to buy a policy, now is the best time to do so!

Retirement Planning 

Life insurance can also be used for retirement planning purposes. Many permanent life policies, such as whole life and universal life, have what is known as a cash value. The policyholder is the only one who can access this cash value. It grows on a tax-deferred basis and allows you to withdraw or borrow against it, but keep in mind that anything you take out and don’t pay back will be deducted from the policy’s death benefit. 

Nonetheless, the cash value can still be used to help with putting some savings into retirement.

Do You Need Life Insurance?

If you’re ready to learn more about life insurance and need more guidance in deciding if it’s the right choice for you, then make an appointment with us today or call us at (770) 213-5171. Our team is filled with compassionate individuals that are here to make the life insurance process easier for you.


Life Insurance / By Magnolia Insurance Agency

Contact Us Today – 770-213-5171

Stephen Dufour
Owner, Magnolia Insurance Agency
Office: 770-213-5171
Fax: 770-338-6932

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