Life Insurance

Life Insurance from Harris Insurance

In the event of a death, we know that it is crucial to take care of our family. That is why Harris Insurance is focused on protecting and helping families plan for when loved ones pass away.

People sometimes put off talking about organizing life insurance, as though death is only reserved for older people. Unfortunately, death is a reality for everyone, and life insurance can give you peace of mind and make it easier for your loved ones, as they mourn and eventually move on with their lives.

Why Buy Life Insurance?

Life insurance takes the pressure off of your family by helping with costs that arise as the result of a death, including:

• Funeral Costs
• Ongoing Mortgage Payments
• Medical Bills
• And More

A comprehensive life insurance policy will allow your family to move forward comfortably after you die. They will be able to avoid debt and added financial challenges, especially at a time in their lives that is already traumatic.

Additionally, a life insurance payout is tax-free, maximizing how much can be accrued and used to help when family members need financial assistance most.

When is a Good Time to Buy Life Insurance?

There is no better time than now to buy life insurance. You do not need to be married, starting a family, or thinking about retiring. In fact, the younger you are, the more affordable the life insurance policy you can buy. Your insurability decreases as you age, as you become a bigger and bigger risk to insurance companies, especially if you are on medications or have a history of health issues.

Nobody wants to lose a loved one, but we all must accept that deaths will occur along the way. Illnesses, accidents, and tragedies happen, and the best we can do is hope for the best while preparing for the worst.

What Life Insurance Policies Can Offer

Many benefits and coverage levels exist. While the concept of life insurance is fairly straightforward – providing financial assistance to families after the death of a loved one – the many types of life insurance options available can make the subject less approachable and more confusing. We are here to clearly explain life insurance, and help you make better decisions to protect yourself and your family.

When it comes to life insurance, offerings include:

• Term Life Insurance – This might be the most common kind of life insurance that consumers hear about. It is usually the lowest cost and covers a set period, referred to as a term. Typically, a term may be a single year or could run as long as 10, 20, or 30 years. The significant benefit of term life insurance is that it will provide for the family of the deceased, covering burial expense as well as future mortgage payments and lost income.

• Whole Life Insurance – Also known as permanent life insurance, whole life insurance locks in benefits for protecting your family, and it has a cash value accessible in an emergency. You can normally buy whole life insurance between 45 and 85 years of age without a medical exam or too many questions. It is also useful for those on a tight budget or fixed income.

• Universal Life Insurance – Very similar to Whole Life as it builds cash value. One of the benefits of this plan is that it has flexible premiums and benefit amounts, so you can adapt it as your needs change. It is possible to build cash value on a tax-deferred basis, which might be useful for building something like retirement or a college fund.

• Level Term Insurance– This is a term life insurance that locks in the premium and death benefit for a specified period of time, 5. 10. 15. 20, even 30 years or longer. The policy guarantees a specified amount that will not change during a specific period.

• Key Person Life Insurance – Also known as key man insurance, key woman insurance, and business life insurance, this plan is a policy that a company can purchase on the life of a mission-critical businessperson, such as the owner or a top executive. It provides that the beneficiary can be the business, the insureds family or both to help curb the loss of an irreplaceable employee or executive.

• Mortgage Protection Insurance – This type of life insurance is designed to pay off the entirety of a remaining mortgage, if the mortgage holder passes away. Similar to Term Life but may also be structured specific to a mortgage payoff reduction over time. Some riders may also cover mortgage payments for a period if the holder becomes disabled.

• Second to Die – Sometimes called survivorship life insurance, this refers to joint life insurance for couples. The policy triggers payout upon the passing of the second named insured. Upon both insureds passing, the policy pays out, typically shielding heirs from estate and inheritance taxes.

In addition to multiple types of insurance, our life insurance team can offer you numerous riders and options to further customize your life insurance policy. Get in touch with us today for life insurance quotes or more details.

Get the Life Insurance Quotes You Need

We have licensed experts in the insurance industry who can explain details for your situation, or even hypothetical scenarios to inform you and make you more comfortable with your choice of life insurance protection. Established in 1965, our insurance Agency is not only there for you in a crisis. We believe in lasting, meaningful service, which means that you can rely on us to be by your side from the moment we make acquaintance. We will keep you up-to-date with any possible policy changes or changes to the law, ensuring continuous coverage.

Whether you need life insurance quotes or just clarification and advice, you can rely on Harris Insurance, one of the premier life insurance companies in Florida. Our dedicated and knowledgeable team is ready to help put your mind at ease. Contact us today!