Life Insurance in Florida as an Investment

Any time you pay a premium for life insurance in Florida, you are making an investment for the future. If you are thinking about purchasing a life insurance in Florida contract, some questions may come to mind. Are you investing to protect loved ones in the event of your untimely death? Are you incorporating life insurance as a part of you overall retirement planning package? Do you plan to use the life insurance cash value as a loan if your financial situation changes suddenly?

The concept of  life insurance in Florida goes as far back as 2000 BC in China as a way of reducing risk to traders. As the centuries passed, life insurance has evolved and more choices are available than ever before. Reasons for insuring ones life differs from person to person.

If you are strictly trying to cover expenses, for example, to put the kids through college or pay off a mortgage, then a Florida term insurance policy should suffice. A term plan requires less premium outlay compared to a permanent policy, but will expire in a certain number of years. The good news is that the expenses it is intended to pay for will no longer be a reality.

Life Insurance in Florida Can Last a Lifetime

Some people want life insurance in Florida to last a lifetime. Whole life or permanent life would be a good option in this case. With this policy, you won’t run the risk of having it expire on you. Premiums will cost more, but cash value will start to build up and those funds could be used for drawing a loan in case of a financial emergency and be paid back as your economic situation improves. Other people convert a permanent life insurance into an annuity as expenses disappear and those funds can help fuel a comfortable retirement.

No matter what your unique situation may be, life insurance in Florida can be part of your overall financial plan. I know everyone’s needs are not the same. If you contact me at 352-200-2066, I can perform a needs analysis for you to help determine what type of life insurance would be in your best interest. While your at it, go ahead and get a free quote now.