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.
When you die, your life insurance death benefit is added to the value of your estate. If it is over the estate tax limit, the money is taxable. Your life insurance money, if tied up in a permanent policy, can be taxable during your life. Some permanent policies build up cash value that you can pull from while you are living. At the beginning, this money comes from your premium payments. However, the insurance company invests this money and it grows over time.