Life Insurance

The Insurance Center of NW FL, based in Mary Esther, Florida, is here to ensure you’re well-informed about the importance of life insurance. We’ll work with you to help you know how it works and why it’s indispensable to your overall financial strategy.

Who Needs Life Insurance?

Life insurance is appropriate for many people, including the following:

• If your family relies on your income, life insurance can help ensure that your family can maintain their standard of living in your absence.
• If you don’t have enough cash to easily cover funeral and burial costs, your untimely death can trigger unnecessary financial burdens on your loved ones at one of the worst times.
• If you have secured debts, they remain due even upon your passing. Life insurance can help pay off those debts and help your family keep your home, vehicle or other financed property.
• If you want to leave money to your family, friends or an organization or charity after you die, life insurance can help you reach those goals.

Types of Life Insurance

Understanding the different types of life insurance is crucial for making an informed decision. There are many types of life insurance, but they fall into one of the following two categories:

• Term life insurance provides coverage for a specified term, usually 10 to 30 years. It’s the most straightforward and generally the least expensive type of life insurance.
• Permanent life insurance provides lifetime coverage and includes an investment component known as the policy’s cash value, so long as the policy is in force when the insured person dies.

Your agent can help determine which life insurance policy best aligns with your financial goals, needs and budget.

Life Insurance Premiums

Numerous factors, including the following, influence life insurance premiums:

• Age—In general, the younger you are when you buy a policy, the less expensive your premiums will be.
• Health—Your overall health condition can significantly impact your insurance premiums. Depending on the insurer and type of policy you choose, you may need to undergo a medical exam before being approved for life insurance.
• Occupation and lifestyle—High-risk occupations or hobbies can lead to higher premiums.

Contact Us

The Insurance Center of NW FL is here to guide you through getting appropriate life insurance at a favorable rate. Contact us today to learn more about your options and get a personalized life insurance quote.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.