Florida Term Life Insurance

Term life insurance is a life insurance policy that provides a level death benefit for a specified period of time 10, 15, 20 or even 30 years. The premiums on a term life insurance policy are also level for the specified number of years of the policy.

You can add to a term life insurance policy rider to cover your dependent children, your spouse and many policies even have a return of premium benefit. A return of premium benefit (ROP) simply means that upon the completion of the term of the policy, the insurance company will refund the premiums paid by the insured back to him/her if there has not been a claim made. Any rider that is attached to a policy will have an additional premium.

The advantage of having a term life insurance policy is that it helps the insured protect their loved ones with a large sum of money in the event of death for a lower premium.

Let us compare rates of a term policy besides a universal life insurance policy. If for example, a 35 year old male that wants $1,000,000 in life coverage.

• A 30 year term policy will cost him somewhere around $69.14 a month
• A Universal life policy will cost him somewhere around $441.67 a month.

For some policyholders having a 30 year term policy makes more sense than having a universal policy. As long as you have coverage either one is a great choice. Term life insurance is designed for short term needs, whole life, modified whole life or universal life insurance is designed for permanent long term needs.

When obtaining life insurance coverage, the right way to determine which coverage will be right, is identifying:

• What are your current living expenses that your family will need to cover when you are not around?
• For how long will your family need this help?
• Specially if you have small children, in how many years will they be able to support themselves?
• Do you want to leave an inheritance to your loved ones at any given age if you die?

These are some of the questions that you need to answer to yourself to determine what is the right course of action.

Health Quotes 101 will gladly be able to help you in providing you professional advice and guidance with this type of coverage. Feel free to contact us at (888) 282-3650 or fill out the adjacent form and one of our specialists will assist you.