Life Insurance in Florida – Who Should Own A Policy?

Everyone should own some life insurance in Florida as a safeguard of their financial security. There are quite a few factors to consider while selecting a policy. Life insurance in Florida can be relatively inexpensive.

The most appropriate time to attain a policy is when you are young and healthy and if you are a smoker, quit if you can. A smoker usually pays three times in premium compared to a non-smoker. So, its in your best interest to quit. The younger you are the cheaper the premiums will be and as a non-smoker, you can afford more protection due to these lower rates.

The next factor to consider is how much life insurance in Florida should you take out on yourself? You should have ample coverage to pay off your house, pay all debts and cover the kids college tuition and expenses until they are able to make a living on their own. You can have the insurance carrier dole out a set amount every year to your beneficiaries so your loved ones don’t have access to all the money at once. The partial payments usually are equal to your annual salary, plus inflation. If you need help figuring out the amount of coverage you may need, you should call us at 352-200-2066 and we will run an needs analysis for you.

Life Insurance in Florida Rates Are Affected By Medical History 

Other factors that must be taken into consideration is your medical history and also the medical history of your immediate family. This is another reason to take out the coverage while you are healthy. If you are ill there are life insurance policies you can purchase, but the premiums are expensive. Whatever you do, do not delay in obtaining coverage.

With regards to underwriting, life insurance in Florida carriers have access to all your medical archives and they will usually find omitted medical information. You must be accurate on your application, or it could cost your beneficiaries a payout if information was omitted off the application. Other critical factors life carriers look for is if you are dependent on alcohol or drugs. This may lead to application denial, even if you have had one DUI it could lead to a rejection of coverage. They also want to know if you have had any bankruptcies in your past. You are an investment for the carrier and they don’t want to lose money.

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