Find the Best Life Insurance Quotes in West Palm Beach, FL

How to choose life insurance in West Palm Beach

It’s not easy to face the possibility of unexpected death, but it’s essential to make a plan if you have a significant other, children or other members of your family who rely on you. Life insurance is one of the best ways to protect your family’s financial stability after you’re gone.

The benefits from a life insurance policy can be used to cover funeral costs, provide income replacement, pay outstanding debts or provide an education fund for your children. Everyone benefits from life insurance—even those without a partner or children may have other family members who would be helped by the death benefit.

There are two main types of life insurance in West Palm Beach:

• Term life insurance is designed to pay out during a pre-agreed term, typically from one to 30 years. Most plans offer a level payout, which means the death benefit stays the same throughout the term of the policy.
• Whole life insurance doesn’t expire and covers the insured party for life. These policies tend to be more expensive and have a cash value that can sometimes be borrowed against. Unlike term life insurance, whole life policies have a guaranteed return on value.

Universal life insurance, a form of whole life insurance, is becoming increasingly popular in West Palm Beach. Universal life insurance has death benefit and cash value components, and policyholders can access the cash value to potentially skip a premium or even borrow a small amount during hard times.

The cost of life insurance in West Palm Beach

The cost of your life insurance premiums will depend on the amount of the benefit and type of policy. Your insurance company’s actuaries will also look at individualized factors, including;

• Age
• Gender
• Medical history
• Alcohol and tobacco use
• Hazardous hobbies or professions
• Driving record

When choosing a life insurance provider in West Palm Beach, make sure to look for a financially stable company you can trust. Companies such as MetLife, Prudential Financial, State Farm and New York Life Insurance Group are all popular choices with a history of excellent service that serve the West Palm Beach area.