Life Insurance Options for Floridians
Serving All Florida Residents, from the Gulf Coast to the East Coast, the Keys to the Panhandle
Age really doesn’t matter when it comes to thinking about your financial legacy. Anyone, at any age, should plan for how their survivors can settle affairs following their death. Getting life insurance is one action you can take to make yourself feel more secure as you age and to plan for your eventual passing. To get a policy that will give you the best protection for your objectives, come to Dakkak Insurance.
Why You Need Life Insurance
Have you ever wondered what would happen if you died before your children grew up? What if, with your paycheck gone, your surviving spouse didn’t have the money to pay the mortgage? Rather than worrying, remember that life insurance can help prevent scenarios like these on your death.
By looking at factors like your net worth, income, the size of your family and any debts, you can then judge what kind of financial hole might be left behind if you die. You can then choose a life insurance to provide a comparable settlement to your survivors. It can help close the gap you once occupied.
The Benefits Policies Can Provide
You might think, I’m young, I don’t need life insurance. That’s not the way to approach the argument.
As gruesome as it sounds the fact is that you could die at any moment. Why not have a life insurance policy in place that you can leave to your survivors? The death benefit offered by a policy might replace your lost income, support dependents, or even allow you to make a charitable endowment.
What’s more, some policies can even offer an investment tool that allows your policy to accumulate a cash value over the years. Over time, you might be able to draw money out against this investment (without touching the capital) and support your own income at the time.
The Types of Life Insurance
Final expense policies often contain smaller death benefits, and their goal is to help an insured party’s survivors with the immediate costs of death, like funeral expenses and medical bills.
A term life policy will remain active for a certain number of years, such as 5, 10 or 20. If you die while the term is active, your beneficiaries will receive the death benefit. If you don’t die during the term, the policy will expire, and no payout will result. This is a great option for those who want their life insurance to go to a certain purpose, such as caring for a child if you die while they are under 18 years old.
Also called permanent life insurance, these policies last indefinitely. So, whether you die five years or 55 years after buying coverage, you’ll still have coverage available.
In addition to the death benefit, most policies contain a cash-value component. Part of the premium acts as an investment tool that accumulates value. Policyholders can withdraw the cash value before their death, if necessary.
Depending on your qualifications, you might be able to convert your term policy to a permanent policy.
As a type of whole-life policy, universal life policies offer both death benefits and cash value options. However, they also let policyholders adjust their premiums and death benefit options. In some cases, you can even structure your cash value option to pay the premium.
Choosing Death Benefits and Affordability Standards
Most experts recommend that you carry enough life insurance for 10 years’ worth of your household income. However, what’s right is what’s right for you. That’s why Dakkak Insurance’s dedicated life insurance agents know all the ways to help you structure your life insurance to your benefit.
Why Choose Dakkak Insurance?
We get it, life insurance can seem confusing. But, it doesn’t have to be hard to find the appropriate coverage. Dakkak Insurance offers policy options from numerous life insurance companies, backed by excellent benefits counseling, fast claims services and assistance for those with pre-existing medical conditions. Choose us, and we’ll make sure you get the protection you need.
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