Shortly after construction of the town center began, the Atlanta, Birmingham, and Atlantic Railroad came through. The railroad was economically important to the town and the county because it provided quicker access to distant markets, and Wadley became a shipping center. By 1910, the population had reached 426.
Life insurance is a contract. Term life insurance is a contract based on the exchange of premiums for coverage. If you stop paying premiums and youâre past the reinstatement period, youâve lost coverage and may be required to re-qualify for coverage.
Declining value over time. If you take out a $200,000 life insurance policy and keep paying your premiums, your heirs will receive $200,000, regardless of when you pass away. Mortgage protection insurance, however, only covers the payoff amount on your mortgage, which goes down as you keep paying it every month. That means if youâve owned your home for 20 years, and you originally had a payoff amount of $200,000, your payoff amount will have declined significantly by now.