Term Life Insurance Quotes Florida
“We can all get blindsided in life from many different things,” he said. “But my message, and this is why I’m really here, I want to let all you parents, young and old out there, to make sure that you have things in order. Review your insurance policies, make sure your loans are life insured, check your benefit packages, know that you’re protected if anything was to happen to you. Please protect your family.”
Term life insurance is an insurance policy covering a person’s life for a specified number of years. It is often offered with a guaranteed premium for a particular number of years. Term life does not have accumulated cash value. Accumulated cash value generally is the distinction between term life insurance and whole life or universal life insurance. Cash value policies are initially much more expensive than term life insurance policies for the same amount of coverage.
Life insurance comes in two main flavors, with many variations. The simplest and cheapest–and the best for most young families–is term insurance. With term you pay premiums for a number of years set at the outset. In exchange the underwriter agrees to pay a death benefit to your beneficiaries if you die during that term. Outlive it and your heirs get nothing.
Term carriers compete fiercely on premiums, and you pay only for what you need for as long as you need it (say, until your kids are grown). If this strategy appeals to you, look for “level” premiums for which the annual cost is fixed for the life of the policy–say, for 10 or 20 years.
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