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Brandon, Florida Individual Life Insurance

Whether you would like to provide a tax free income for your beneficiaries, have funds to pay for funeral expenses as well as estate taxes, donate a significant contribution to a charity, or replace the income that is lost in the event of your death, we will be happy to help you choose the life insurance policy that will fit your needs and budget. Planning your future goals will help you decide the Individual Life Insurance policy that will suit your needs.

Individual Life Insurance is important for the following reasons:

    1. A Source of Savings – If it is not paid out by death benefit, some types of life insurance can hold a cash value.
    2. Final Expenses – using life insurance to cover the cost for burial expenses and funeral services.
    3. Income for Dependents – in the event of your death, a life policy can provide much needed income for your dependents. Many times this is for children, but it can also be used for a partner that experiences a loss of pay.
    4. Inheritance – a life insurance policy can also be used as an inheritance if you don’t have a lot of assets to leave to your beneficiaries.
    5. Tax Purposes – Used to pay taxes
    6. Charity – Making a charitable contribution

Life Insurance options in Brandon, Florida

Your health and age are generally the most important factors in determining the premium amount you will pay. Although you are able to purchase a policy at any age, the younger you are the more affordable the policies will be.

All life insurance policies are designed to pay a benefit when someone dies. Term and Whole-Life are the most common types of life insurance.

The most affordable type of coverage is normally term insurance. The term (length) of the policy usually lasts between one and thirty years and pays only if a death occurs during the policy term. These type of policies usually have no other benefit provisions. Level Term policies are used when the death benefit will remain the same throughout the length of the policy.  The other type of term policy is known as Decreasing Term which means that the death benefit decreases over the course of the policy’s term. However, when the policy term ends, you are not guaranteed to qualify for new coverage based on your age and health, and the cost of the premium may not be affordable.

One of the advantages of choosing Whole or Permanent Insurance is that the death benefit and premium will usually remain the same during the duration of the policy. These policies are similar to a savings account, and can also build cash value which may be withdrawn or loaned.

The 3 types of Florida whole life insurance are traditional whole life, universal life, and variable universal life, and each type has its own variations.

Our agents at Odiorne Insurance Agency can offer you different types of available Florida life insurance policies, so that you may choose the policy that will best fit your needs.

Contact our Brandon, Florida, team of Life Insurance Agents today at 813-685-7731 to find the policy that you feel best suits your needs.

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Speak with a licensed agent for additional information regarding these coverages or refer to your actual policy for specific coverages and limits. It’s important to learn what your policy coverages include and how different limits could potentially negatively effect your business risk and liabilities.

The information offered throughout our website is not legal advice or a substitute for consultative insurance purposes, it is for illustration and informational purposes only. For additional information regarding your specific insurance needs, please call and speak with one of our licensed insurance agents today. Our agents are ready to assist you in navigating your insurance options.

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