Florida Term Life Insurance – Do I Even Need It?

Here are some good questions to ask yourself to determine if you even need Florida term life insurance.  Are you married? Do you have children or are you expecting one? Do you financially support an elderly parent? Do you have debt and/or a mortgage?  If someone depends on you financially, chances are you need a policy.

In fact, if your answer is yes to just one of these questions, then your need for Florida life insurance may be high.

Everyone’s situation is different. When determining your Florida insurance needs, consider this:

■ If you were gone tomorrow, how much money would your family need to replace your income and for how long?

■ How much would it cost to pay off your mortgage and other debts?

■ How much would your loved ones need to afford ongoing and future financial needs like college costs?

Florida Life insurance can help your loved ones meet important financial needs beyond final expenses including daily living expenses, medical expenses, mortgage payments and college savings. The loss of a loved one is hard enough emotionally without having it compounded by financial worries from the loss of an income. But many times what you need and what you can afford are two different things. That’s where Florida term life insurance can make a big difference.

But, Why Florida Term Life Insurance?

Florida term life insurance can be a sensible choice for many insurance buyers because you can get the most insurance coverage for your dollar. Term life’s easy to understand nature and competitive premiums are designed to help you cover temporary insurance needs like those previously mentioned.

With term insurance, you choose a specific period of time (a “term”) that would sufficiently cover your insurance needs generally for 10, 15, 20, or 30 years.

The policy will pay a death benefit to your beneficiaries if you die during that term, and beyond if you elect to renew your policy. What’s more, your beneficiary receives the life insurance proceeds free of federal income tax.*

*Proceeds from an insurance policy are generally income tax-free, and if properly structured, may also be free from estate tax. 

For more information or to arrange a review of you current financial situation and future goals please contact: RTC Insurance Advisors at 352-200-2066 today.

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