Term Life Insurance for Jacksonville, FL
Want to know more about cost-effective applications for term life insurance?
The least expensive way to purchase death benefit coverage for a specified time period is term life insurance. Jacksonville residents can stop by, call or use our website's convenient contact form to learn more about buying fixed-rate life insurance coverage for a pre-determined or relevant term. Although term life insurance is not typically used for accumulating wealth or estate planning, it can provide affordable financial protection with flexible benefits for many common situations such as:
- Annual Renewable Term Insurance
Death benefits for life insurance coverage remain the same for the entire period as defined by the policy but the premiums can be adjusted each year and will typically increase with the age of the insured.
- Decreasing Term Insurance
Although the cost of premiums will usually remain the same for an extended period, the payment for death benefits will decrease in value over the relevant term. This is an excellent choice for individuals who have financial obligations that will naturally decrease over time.
- Joint Term Life Insurance
Married and common law couples can purchase joint (or first-to-die) term life insurance policy to provide protection for loved ones in case of an untimely death of either partner. This type of term policy is especially useful for providing for your children's education or similar expenses where all or a part of the payment would have come from the deceased's future earnings.
- Return of Premium Term Life
This is a more complex term life policy that is something of a hybrid. Although the cost is much higher than premiums for traditional term coverage, the insured can get his or her premiums back once the policy has matured. Typically, ROP policies are only useful for insuring young, healthy income producers.
- Mortgage Protection Term Life Insurance
Both level term insurance with a fixed amount for payment of benefits and decreasing term insurance with benefit payments designed to satisfy a balance due can be effectively used for mortgage protection in case of an unexpected death.
- Key Person Term Life Insurance
This is an application of term insurance to protect a business in case of the loss income or profit due to the death of key personnel such as an upper-level executive or salesperson. The death benefit is intended to protect business operations during an interim period. Sometimes, key man term insurance can be used in conjunction with a buy/sell agreement to furnish a cash payment used to repurchase the deceased's stock or ownership interests.
Term life insurance policies can provide the most affordable premiums for temporary coverage with specified death benefits to be paid to the beneficiaries. Our Jacksonville, FL based agents are always ready to assist with your needs for competitively priced insurance products. To have all of your questions answered by the pros, call Shapiro Insurance Group or use our convenient online form to submit your request and we'll send you a FREE list of competitive quotes from major insurance companies.
Donna Setaro at Shapiro provides the General Liability for us at Ortega Hurricane Grill and Wings. From initial competitive quotes through implementation to present the service and responsiveness has been extroardinary.
— Calvin H.