Life Insurance Life Insurance Consulting Insurance in all 50 states   Life
Affordable Life Insurance Steps
Life Insurance Agent Talk to a Consultant
Free. No Obiligation. Privacy.
Available 9a.m.-6pm. Weekdays
Get a Quote Now
Home Services Get A Quote Resources About Us Contact Us
Life Insurance
    Email agent Email Us Bookmark this page Bookmark Us   Link to Us Link to Us


Florida Life Insurance Web is not an ordinary life insurance agency. We offer the largest insurance product line available with free consulting services. Our service includes: free insurance analysis of competing life insurance products, individual analysis of your current insurance situation, and of course - multiple carriers and products to choose from. Get a life insurance quote from America's most reliable life insurance provider - now!

Española |  Française |  中国翻译 |  Deutsche  |  Italia |  日本人〔日本語〕の


Today's Life Insurance Topic:: BUYING OVER 50 LIFE INSURANCE

Hey, are you over 50 years old? Is it to late for you to buy life insurance? What is "too late'? It's only too late for life insurance when your health is too bad to get approved by any company or you are too old to qualify. Other than that, you should be able to find some type of coverage that hopefully fits in your budget. If your health is very bad, than we can use different guarantee issue products that you can probably still qualify for.

The sooner you purchase life insurance, typically the better off you are. The reason behind this is that you are never going to be younger than today and probably not healthier. It can be too late with life insurance if your health takes a turn for the worse as it can make you uninsurable or create a drastic price increase. If you are rated heavily for your medical issues than you may want to consider taking the policy as you can go uninsurable quickly. After a year or two, you can go back to the insurance companies and re-apply, but in the meantime be covered.

It never hurts to check and see if you can get insurance. If you are not sure, check and see what the options are. The worst case scenario is that you get a no.

Talking about Whole life Insurance

Whole life insurance is one of the oldest products in the insurance business. It has many features and facets and provides tremendous benefit for owners and beneficiaries. Just as it sounds it is a product that is permanent and will last for your entire life provided you pay the premium. The premium is fixed and will remain the same for the life of the contract. The earlier and the healthier you are the better it is, as it will lock you into the lowest possible monthly premium.

Whole life insurance builds cash value along with having a permanent death benefit. The cash value accumulates over time and is a great fund to use for emergencies and opportunities. Many people will use the cash value like a bank and finance cars, children's education, invest in businesses.

The cash value accumulates with a guaranteed interest rate and with non-guaranteed dividends. The dividend will be declared by the company at the end of the year and it can vary from year to year. The cash value grows tax deferred and can be accessed tax free through policy loans. It can be a great idea to put more money in above the premium and that will expedite the growth of the cash value and buy paid up additions.

Another great aspect of whole life insurance is if the dividend gets big enough you can use it to pay the premiums for you. How long this takes, just depends on the dividend that the company pays. This is often referred to as paid up insurance. While this is more expensive than term initially, it will remain level when level term goes through the ceiling.

Term Life Insurance (vs. Whole Life)

One of the most popular types of life insurance is known as term life insurance or term assurance. Consumers are attracted to term life insurance policies for many reasons, and over the past couple of years this type of coverage has become even more popular. If you are interested in buying life insurance coverage, checking out the details of a term policy may be the best place for you to start your search. We can help. Our experienced consultants are here to answer any questions you might have.

DEFINE TERM INSURANCE: Term life insurance provides coverage for a limited period of time. For instance, a 10 year term life insurance would cover you for 10 years, not a day longer. This is different than a whole life policy which covers you for your entire life.

Once a term life insurance policy expires you can either drop it or purchase additional coverage. Keep in mind that adding more coverage may cost more money as your circumstances have changed and you are now older.

Term life insurance is one of the most cost effective policies available. With the average life expectancy increasing the cost of term life is on its way down. As a consumer you may not like the fact that term life insurance can expire, but it is hard to argue with the low cost of coverage.

With term life insurance consumers have options including the length and amount of coverage; this is similar to all types of policies.

My life insurance broker was very helpful - he showed me all the available policies and helped lower my term life premiums and increase my benefits.
T. Larson, Indiatlantic, FL

WHOLE LIFE COMPARISON:: Term life policies offer death benefits only, so if you die you win (so to speak). If you live past the length of the policy, you (or, more specifically, your family members) get no money back.

Permanent life policies offer death benefits and a "savings account" (also called "cash value") so that if you live, you get back at least some of, and often much more than, the amount you spent on your premium. You get this money back either by cashing in the policy or by borrowing against it.

As you might expect, permanent life insurance premiums are more expensive than term premiums because some of the money is put into a savings program. The longer the policy has been in force, the higher the cash value, because more money has been paid in and the cash value has earned interest, dividends or both.

The debate is all about that cash value. If you buy a policy today, your first annual premium is likely to be much higher for a permanent life policy than for term.

However, the premiums for permanent life stay the same over the years, while the premiums for term life increase. That extra premium paid in the early years of the permanent policy gets invested and grows, minus the amount your agent takes as a sales commission. The gain is tax-deferred if the policy is cashed in during your life. (If you die, the proceeds are usually tax-free to your beneficiary.)



Florida Life Insurance Web now carrys more product lines than ever before! We provide premium, yet affordable life insurance services. Our full range of reliable insurance services include the lowest life insurance rates, and individual & family insurance plans.
Florida Life Insurance Agency Advice

Before you buy life insurance from any agent; utilize our extensive life insurance services for a sound, accurate, and professional analysis of your current situation. Our full service term life insurance agency knows and understands your needs. We can help you choose... (read more)
Life Insurance for Children
Life Insurance for Children I wish my parents had bought me a permanent life insurance policy when I was a kid. It is such a valuable and flexible gift that can benefit your children in so many different ways. Not only do they lock into the mortality of the age that they get the insurance and lock in the rate, but it provides them lifetime permanent coverage.

On top of all of that, the cash value can be such an incredible tool. The money will accumulate in the policy that can be used for many things including buying a car, helping pay for college expenses, and for creating a nice nest egg for retirement. The cash value grows tax deferred and it becomes more efficient the longer it is in place. Therefore, if you get a policy when you are young, it gives you a lot of time for the policy to really crank.

For parents, it is a very modest amount of money that you need to invest in this for your child. Recently, I worked with a client who bought a $50,000 whole life policy for their child who was 12 and it was about $26.00 a month. It can be of benefit to pay above the premium amount a few dollars to help create more cash value quickly. For example, my premium for my whole life policy is $180 dollars a month, but I put in $250.00 a month. The extra money just goes into the cash value and the cash value grows no matter what. Not many things get better no matter what, but permanent insurance is one of those things.

Income Replacement Insurance Income Replacement Life Insurance

Life insurance serves as the most efficient way to replace income to a family. The idea would be to replace your income if you were out of the picture. It is important to figure out the amount of insurance that you should buy if you want to use the death benefit for income replacement. There are several different ways that I have seen this calculated and I think it is generally undercalculated by clients.

The different ways that I have seen it are 5-10 times annual income, human life value, and what interest spins off a principal amount. The years of income can be a fine way to do it, although I see this as rather arbitrary. What happens at the end of that period for the spouse and family? Human life value is another popular way to calculate the amount of life insurance. This is the amount that the insured will earn over the course of their life with increases factored in. This is considered full replacement value. The thought behind this is that you insure your car for the full amount, so why wouldn't you insure yourself for the full amount?

A principal amount that spins off interest. This is selecting a death benefit that will spin off enough interest to replace income. For example, a death benefit of 1 million dollars invested conservatively at 5%, will generate $50,000 a year to a family. This can be a good strategy as it allows the principal to stay in tact and provide a significant asset going forward that can generate income forever.

Florida's Whole Life Insurance Specialist
Buying life insurance can be a nightmare. Choose a policy after consulting a professional! Our experienced life insurance consultants provide accurate and reliable information that can be utilized to get the most beneficial life insurance policy available. (read more)
Whole Life Consultants
How much does it cost to insure your family? Can you afford it? Check out our superior life and health insurance products and get a free quote with the click of a button. (read more)
How To Lower Insurance Premiums
Lower your premiums by twenty percent.  Get a free quote, while maintaining dependability by using our easy to use online quoting system. (read more)

Our Quotes Lower Costs
Reduce your insurance costs. Use Florida Insurance Web’s renowned online quoting system. Save now by getting insurance quotes from all major carriers.(read more)


Life Insurance News
Florida Life & Health Insurance Blogs  || 
Health Insurance
Florida Health Insurance
Health Insurance Rates
Affordable Health
Health Insurance Plan
Blog Health Insurance
Health Insurance Guide
Aetna Health Insurance
Health Insurance Chat
Policy Tips
Cheap Health Insurance
Group Health Insurance
Family Health Insurance
Small Business Insurance
Miami Health Insurance
Short Term Insurance
Humana Health Insurance
AARP Health Insurance
Health Insurance Directory
Accident Health Insurance
Self Employeed Insurance
Student Health Insurance
Health & Dental Insurance
Blue Cross Blue Shield
Free Health Insurance
Florida Health Insurance
Pet Health Insurance

  Florida Life Insurance
Florida Group Health Insurance
Health Human Capital Consulting
Health Individual Health Insurance
Health Health Insurance Quotes
Insurance Health Insurance BLOG
Group Group Insurance Plans
Quotes Health Insurance Agencies
Policies Policy Analysis
Plans Health Insurance Advice
Plans Corporate Wellness
Plans California Insurance
Plans Florida Life Insurance
Plans Universal Life Insurance

  Española | Services | Get A Quote | Resources | About Us | Contact Us | Directory Florida Locations | Site Map

Copyright © 2009 Florida Life Insurance. All Rights Reserved.
Florida Insurance Web is a wholly owned subsidiary of K & M Insurance Agency LLC

Affordable Term Life Insurance | Universal Life Insurance Provider

get a free Florida health insurance quote