Life Insurance in Fort Lauderdale

There are many factors responsible for why many avoid topics that involve a risk management measure like life insurance.

Misconceptions about the cost of the contract, the seeming complexity of buying and maintaining a policy, and the society’s general aversion to the topic of death all contribute to why many people don’t consider getting life insurance in Fort Lauderdale.

However, while these might be understandable, it does not negate the indispensable role that life insurance should have in personal or family finance

Benefits of Life Insurance in Fort Lauderdale

Several benefits come with a life insurance policy, which makes it a must-have for everyone who desires a better future for themselves and their dependent family members.

With a life insurance policy, your loved ones will have financial protection that takes care of their needs when you pass on. The benefits could also be used to pay off debts incurred during your treatment or settle burial expenses. Even though you might not feel comfortable talking about the possibility of you passing away, loss of life remains both inevitable and unpredictable. Moreover, you wouldn’t want your loved ones to inherit a financial burden after you have passed.

Life insurance is a perfect tool for taking care of some of your commitments in life even after you have passed on. There are contracts whose benefits can be tied to the funding of your business, payment of estate taxes, or continuing your charitable donations, all after your passing.

Contrary to what you may have heard, buying life insurance is not as expensive as you might have guessed. There are varieties of contracts that are very affordable and easy to obtain regardless of your financial status. You only need to have the right information at your disposal.

How Life Insurance Works in Fort Lauderdale

Since 1979, when the state of Florida worked with the policy providers in the state to create the Florida Life & Health Insurance Guaranty Association to provide quality life insurance contracts for its citizens, Florida has been one of the best places to buy a life insurance policy nationwide. The state government and the FLHIGA have laws that protect policyholders from losing out on their plans payment in case their insurer goes insolvent by absorbing them under their receiverships.

Apart from that, to ensure the named beneficiary of a life insurance contract is in full control of the proceeds therein, the Florida Senate 2018 Life Insurance Act 222.13 stops the benefit payment from being claimed by creditors.

A part of the law states that “the proceeds [of the benefits] shall be exempt from the claims of creditors of the insured unless the insurance policy or a valid assignment thereof provides otherwise.”

What Should Dermatologists Look for When Buying Disability Insurance Policy

Also, at the local level, the Fort Lauderdale city management equips the residents with useful information about life insurance policies. The city has a dedicated website and toll-free line to keep its residents abreast of the latest in the insurance world.

With poisoning, road traffic accidents, and different chronic diseases being among the leading causes of death in Florida, a life insurance policy can no longer be treated as an afterthought—it should be considered part of topmost priorities in life.

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What to Look Out For When Buying Life Insurance in Fort Lauderdale

Buy According to Your Need

There are two broad types of life insurance you can choose from: term life insurance and permanent life insurance. A term life insurance policy is the most popular contract in Fort Lauderdale. It covers the covers the policyholder for a specific amount of time. Permanent life insurance, on the other hand, is designed to provide you and your loved ones with lifelong coverage. It is also can be either a whole life insurance or a universal life insurance plan. You will need to review the terms guiding each of these and choose the one that is more affordable and flexible for your need.

Check the Conversion Feature

This feature allows you to convert your term policy to permanent policy in case you decide to switch in the future. You need to check if the contract comes with this option, as unforeseen circumstances could make you want to change your policy type later. Without this option, that will not be feasible.

Consider Affordability

You want to be sure the policy is affordable and aligns with your current income and budget.

The Policy Riders

Life insurance policy riders or endorsements are add-ons to the primary policy which allows you to customize your policy to suit your budget and your insurance needs. Disability income, premium waiver, and term conversion riders are some of these extra benefits.

An Expert Guide

Working with a seasoned life insurance agent will make buying life insurance easy for you. With the right counsel and guidance, you will be able to make the right decision that will not bring regrets in the future. However, you will need to ask for clarifications on any issues or questions not clear to you in the contract.

How Gold Coast Life Insurance With Comparing Rates

At Gold Coast Life insurance, we will not only advise you, we always go the extra mile in ensuring that you get the best life insurance plan. Our services are very affordable and accommodating. We accept members with pre-existing conditions, and becoming a member does not require a medical exam.

You can also be part of our growing family of members and enjoy all these benefits and many others by simply getting a free quote now for your policy.

Term Life Insurance

Affordable Life Insurance

Pre-Existing Conditions

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