At Affordable Insurance 4U in Boca Raton we’ll painstakingly search thousands of plans from nationally recognized companies to find coverage that’s right for you, at a price that fits your budget. Best of all, our assistance is at no cost to you.
Whether you’re looking for the affordability of term insurance, or the lifelong protection and cash value of permanent insurance, Affordable Insurance in Boca Raton will have options to fit your needs and budget. Call us today to discuss what’s available for you and your families needs.
Why have life insurance? To take care of your loved ones financially when you die. If your family lost your income, what would happen?
Whole Life Insurance typically more expensive is sometimes called “straight life” or “ordinary life,” is a life insurance policy which is guaranteed to remain in force for the insured’s entire lifetime, provided required premiums are paid, or to the maturity date of the policy. Premiums are fixed, based on the age of issue, and usually do not increase with age.
Survivorship Insurance | This insurance covers two persons, usually husband and wife, under one policy. The premiums are generally less than individual policies as the policy only pays on the “second” death. This policy is often used as part of an estate planning strategy to assist paying a family’s estate taxes in the event of a death of a spouse.
This is a very simple form of insurance. This Life Insurance coverage is purchased for a specific time period for a specific price. If the insured dies during the life of the policy, your chosen beneficiary receives the stated value of the policy. Term Life Insurance can be purchased for specific periods of time, such as 10, 15, 20, 25, or 30 years.
Universal Life is a permanent life insurance policy with a cash value feature. This policy allows you to choose a fixed premium that can provide coverage to age 80, 90, or even past age 100. This policy is flexible as long as policy minimums are met, the premiums can be increased or decreased in order to meet the insured’s goals.
Step 1: What kind of coverage do I need? Basically, there are two types of insurance, term and permanent. Think term life insurance if you only want temporary financial protection. For example, until the mortgage is paid or the kids are out of college. Think permanent life insurance if I want to leave behind a legacy. For example, if you want to leave supplemental retirement income for a spouse, or tax-free money to your children or a charity.
Step 2: How much coverage do I need, you’ll want a death benefit that covers the following: • Final expenses (e.g., medical and funeral costs) • Mortgage payoff • College expenses for your kids • Income replacement
Step 3: Are my needs more complex life insurance needs may be more complicated, of course. Perhaps you want to use life insurance to transfer wealth or to transition a family business. Talk to your advisor or agent about the best solution for you.
If you have any questions or concerns about life insurance in general, don’t hesitate to contact us today. As your insurance agency of choice, we are happy to work with you to help make sure that you and your family always have the types of coverage that will be truly beneficial.
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