Florida Life Insurance

When you are looking for Florida life insurance, the first thing you will want to determine is exactly what type of coverage you need. Then you will want to get a FL life insurance quote from a company licensed to operate in FL. Contacting an agent working in Florida is a great way to get the life insurance coverage you need at a price you can afford.

Florida Life Insurance: Why You Need Coverage

Having adequate insurance is an important part of your overall financial plan. The payout from an insurance policy can be used to pay off debts and/or taxes, and to pay bills. It can also be used to provide for your family by replacing your income if you die.

Florida Life Insurance: How Much Coverage To Buy

You will want to make sure you have enough FL life insurance coverage in place to pay for the following:

1. Estate Taxes, Funeral Costs, and Medical Expenses
2. Immediate Needs, such as Financing a Move, or Paying for Job Training to Allow the Surviving Spouse to Return to Work
3. Ongoing Living Expenses, including Day Care, College Tuition and Books, and Money for Retirement

Florida Life Insurance: How To Choose A Beneficiary

One of the decisions you will need to make when you buy life insurance is who the beneficiary of the policy will be. If you direct that the proceeds of your insurance policy are to be paid to your estate the money will be received income tax free but they may be subject to estate tax. When you choose to have the proceeds delivered to an individual, the person you choose receives the money income tax-free. Consult a qualified Florida life insurance agent, estate planning attorney, CPA, or CFP for personal guidance.

Here are some terms you need to be familiar with:

1. Primary Beneficiary: This person is the first person to receive the proceeds paid under your insurance policy.
2. Secondary Beneficiary: You may select a Secondary (or Contingent) Beneficiary to receive the proceeds if the Primary Beneficiary has died.
3. Irrevocable Beneficiary: If you designate a person as being an Irrevocable Beneficiary, you can’t change this decision unless the beneficiary gives his or her consent in writing.
4. Default Beneficiary: In a situation where no beneficiary has been selected, any benefits payable under the policy will be distributed in the order indicated on the policy documents themselves.

You have the option of selecting multiple beneficiaries and determining what percentage of the proceeds each person will receive. As long as the total adds up to 100%, you can designate as many beneficiaries as you like.

Florida Life Insurance: Answering Health Questions

When an insurance company is deciding whether to offer you a policy, it needs to determine how much of a risk you present. You will need to present the company with evidence of your insurability.

You will need to provide the company with your current age, height, and weight for this purpose. In addition, you may be asked to answer questions about your medical history. Depending on the answers you provide, you may be asked to undergo a medical examination. The doctor may need you to provide blood and urine samples or have an EKG as part of this process.

Florida Life Insurance: What To Do If You Are Turned Down

If you apply for life insurance coverage and are turned down, you still have options. The first thing you will want to do is to ask the company to notify you in writing of the reasons for the denial. Look this information over carefully and if there are errors, notify the insurance company and ask them to reconsider your application.

Insurance companies vary in their underwriting processes and even if you have been turned down by one insurer, it doesn’t mean that you can’t get coverage from another one. If the reason you were denied coverage is something that you can control, such as your weight, you may want to improve your overall health by eating a balanced diet and exercising regularly. Reapply for coverage once you have lost some weight and improved your insurability.

Find Florida Life Insurance Quotes Online Now!

Are you ready to start the process of shopping for Florida life insurance today? There is no need to wait to find the coverage you need to protect your family. All you need to do is click on the insurance quote tool at the top of this page to get started comparing Florida life insurance rates from top companies. Get started comparing free FL life quotes now!