Florida Life Insurance
One of the best ways to secure your familys future is with a life insurance policy. A Florida life insurance policy ensures that your familys financial needs will be taken care of if anything happens to you.
Before you choose a Florida life insurance policy there are a few things that you should know. One of those things is the different types of policies that are available and how they work. This article will explain a little about whole life and why it may be the right choice for you.
While most people in todays trouble economic times choose to go with the less expensive term life policy the whole life insurance is really the best for total long term investment value. A good way to look at the differences is a fully loaded luxury car versus a bare bones economy vehicle, both cars will take you where you want to go but the ride in the luxury car is nicer. This article will show you some of the luxury accruements of a whole life policy.
Guaranteed Premium /Guaranteed Death Benefits
Unlike some other Florida life insurance a whole life policy guarantees both the death benefit and the monthly premium amounts. No matter what happens your premium is guaranteed to never change for the life of the policy and upon your death your family will receive every cent of the death benefit promised.
One way whole life insurance policies are both different and a better value for your investment is the cash value option. Unlike other policies a whole life policy is actually worth something and if needed the value of the policy can be used for emergencies. You can access these funds in either the form of a tax free loan which will allow you to keep the policy or you can choose to totally surrender your policy for the full amount accumulated.
Most whole life policies today are considered to be participating policies. With that in mind you should understand about dividends. Every year your life insurance carrier will declare a portion of its profits to be dividends. Whole life insurance policies that are participating policies are automatically enrolled in a program that allows them to earn a share of these dividends. Although dividends are not guaranteed they can generate an income and can be paid to you in a number of different ways.
For more information about whole life policies or other Florida life insurance solutions give us a call or click the link for our fast free quote engine.