2018 Best Florida Whole Life Insurance
Whole Life Coverage is permanent protection that can be used as both an investment tool and a death benefits policy.
Unlike term life insurance, these permanent insurance policies never expire as long as you pay the premiums.
That means your beneficiaries can get a big payout, even if you kick it at the ripe old age of 90.
Many permanent life insurance policies, including whole life, participating whole life and universal life, also have a cash-value component — funds that you can either borrow against or withdraw from while you’re still alive.
What’s more, the cash you contribute is tax-deferred and can appreciate every year. Sounds like a combo of life insurance and a retirement account, doesn’t it?
But it’s not for everyone.
Permanent life insurance is a good option in the right circumstances.
As an investment vehicle for savings you know you will not need during your life time but want to leave to your beneficiaries, whole life insurance makes more sense.
It can also be a tool for certain types of estate planning or, in some circumstances, reducing your tax burden.
In USA, proceeds of life insurance are tax free, as long as the beneficiary named isn’t the deceased’s estate. (In that case, the proceeds may be subject to probate taxes.)
If you suspect your circumstances may warrant such a strategy, a wise move would be to ask a financial advisor for some advice.
Where to shop for Florida Whole Life Insurance
The insurance industry is heavily regulated, giving you the peace of mind to buy from whomever you like. When going with independent insurance agencies, though, be sure they offer a large menu of policies, and know the market.
A bonus is if you can find someone with a strong financial planning background who can scope out your needs.
That’s why Mintco Financial is the ONE stop place to shop for Whole Life Insurance.
We offer the expertise of a Financial Advisory Firm with the best and affordable Insurance Companies to get you the best quote.
Visit our website for a Free Quote www.MintcoFinancial.com
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