Doug Jones

Life Insurance Buying Tips In Florida

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Important Tips when buying life insurance in Florida

Whether your death eventually becomes expected or unexpected, planning for it now will save your loved ones a lot of added stress when that day eventually comes. Although you can’t do anything after you have passed away, there is one thing that you can do today that will show your family and friends that you care: purchasing life insurance.

As you research life insurance plans, try not to become overwhelmed with terminology, plan options, Non Medical Term Lifecarrier names, ratings and everything else in between. Take your time and read everything carefully while working with an experienced life insurance agent who can guide your decisions and answer any questions you have along the way. The way that you choose a life insurance plan might follow this general path of actions:

  • Assessing your needs and determining the amount of coverage
  • Deciding what type of plan you need
  • Choosing a life insurance carrier
  • Getting the best premiums

Assessing Your Life Insurance Needs and Determining the Amount of Coverage

Assessing your need for life insurance is much like trying to determine how many groceries to buy each week: Just how much is needed to survive? In the case of life insurance, assessing the need is determined by taking your beneficiaries into consideration. How much coverage do they need in order to recover from the loss of your income, to pay for your final expenses or to cover the cost of monthly expenses?

To determine how much life insurance to purchase, you must consider your expenses, debt and annual income. Sufficient life insurance coverage is determined by adding together the following:

  • The amount of your annual income multiplied by about ten
  • About $100,000 for each person in your household such as a spouse or children
  • The dollar amount of outstanding debt you have such as collage loans, credit card expenses or a mortgage

For More Information

Life insurance is an essential part of financial planning.   Call and speak to one of our knowledgeable advisers today at (888)-564-2326 to discuss details of affordable life insurance plans will safeguard the lives of your loved ones for years to come.