Whole Florida Life Insurance
Advantages of Whole Florida Life Insurance
Offering permanent coverage and the ability to build cash value, whole Florida life insurance is an investment in your future. Unlike term coverage that only provides benefits in the event of your death, whole life insurance can be an important part of your financial planning.
Lifelong Coverage for Florida Life Insurance
Otherwise known as permanent life insurance, whole Florida life insurance will cover you for the rest of your life. There is no term that will eventually expire, allowing you to carry this insurance with you into your retirement years. The rates will never increase, making these plans an attractive choice for people of all ages.
The premium levels for whole life insurance are higher than they are for term plans. Part of your payment for this type of Florida life insurance will cover insurance premiums, and another portion will be invested in tax-deferred accounts. These accounts will grow over time, just as any IRA or other retirement account would gradually grow and expand. Many policies will pay the life insurance premiums out of the cash value, so you will also have some flexibility with payments when finances are tight.
The cash value is yours to access when you need it. As long as the premiums are paid, this Florida life insurance will provide your family with a healthy payout upon your death, but the investment portion of the plans can be withdrawn and used while you are alive. It can be used as the down payment on a larger home, to cover medical expenses or help put the kids through college. While it’s best to leave the funds in place until retirement, you are not obligated to.
If you are interested in a retirement plan or investment account as well as life insurance, then a whole Florida life insurance policy may be the best choice for you. The cash value will grow over time, giving you a sense of personal satisfaction. You will also be providing for your family should something tragic happen to you. Whole life insurance is more than an important investment. It is also peace of mind that you can carry with you for the rest of your life. Please visit our website for free Whole Life, Florida Life Insurance quotes today!