Best Cheap Life Insurance in Florida for 2020 • Benzinga – Get our quote in 5 minutes

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You are living your best life in the Sunshine State. What happens to the life you created with care when you die? More importantly, what happens to your family if you don't have a financial plan? Your family will be properly cared for if you have life insurance.

The best life insurance in Florida:

Best for reliability: AIG DirectCheaper life insurance in Florida: BestowBest for convenience "Plus": Haven LifeBest for ease of use: EthosBest for options: State FarmBest for people with children: Fabric

Florida life insurance: quick facts

The average life expectancy in the United States is almost 79 years. About 60% of people in the United States have life insurance. Let's take a look at how Florida compares itself.

Life expectancy in Florida for boys: 77 years Life expectancy in Florida for girls: 82 years Percentage of the adult population with life insurance in 2019: 57% State rank by life expectancy: 22

How does life insurance work?

Life insurance is a contract between you and a life insurance company. The insurer is the insurance company and pays when you die. The owner is the person who pays the premium payment. The person whose life is based on the policy is the insured. Finally, the beneficiary is the person or persons who receive the life insurance payment.

For example, let's say you take out an insurance policy on yourself. You are the owner and the insured. The insurance company with which you took out the policy is the insurer. The spouse or children are named in the policy to receive payment when you die, so they are the beneficiaries.

3 reasons to buy a life insurance

Don't think of life insurance as a value attached to your life. Instead, think of life insurance as financial protection. Life insurance helps ease the financial burden on your family when you die. Life insurance helps cover things like:

Funeral expenses like a coffin and a grave Debt like a mortgage, car payments or credit card balances Income loss that goes towards daily life, saving for a child's university fees and saving for retirement

What can you expect to pay

The monthly premium you can expect to pay for life insurance depends on things like sex, health, employment and where you live. Here's what Floridians can expect based on gender, age, tobacco use, amount and duration of coverage.

Gender Age Smoker Coverage Amount Estimated Monthly Premium Coverage Length Female30 None $ 500,00020 Years $ 16.68 Female30 Yes $ 500,00020 Years $ 55.56 Evil 30Next $ 500,00020 Years $ 19.49Male30Yes $ 500,00020 Years $ 68.81Female45No $ 750,00030 Years $ 89,000,000 $ 89

Whole life vs. life to term

You can find many types of life insurance. But the 2 main types are whole life and term life and it is not necessary to choose just one. You can choose a combination of the two. Let's take a closer look.

All life: this is guaranteed lifetime protection as long as you pay the premiums. The rewards remain the same for the duration of the policy. In addition, the cash value of this type of policy can increase and you can access cash while you are alive. Duration: this coverage is for a specific period of time. In general, life insurance policies have a duration of between 10 and 20 years. The premiums are constant for the duration of the policy. Monthly lifetime premiums are generally lower than full-life premiums.

The best life insurance companies in Florida

Sometimes it is possible to obtain a life insurance policy through the employer. If it's not possible or if you want to strengthen your coverage, here are some companies that stand out above others for Florida life insurance.

1. The best for reliability: AIG Direct

Get $ 250,000 life insurance coverage from AIG Direct starting at around $ 14 per month. You can get a quote online and an agent will follow you. Next, submit a formal application followed by a medical examination.

Once these steps are complete, your subscription begins. Subscription can take approximately 2 weeks. AIG says you will save 70% on your long-term life insurance policy compared to the same coverage as other companies, although your premium may be influenced by your resume, health, family medical history and participation in high-risk activities such as parachuting. A.M. The best rates of insurance companies on financial strength and payment capacity. Give AIG Direct an A score.

Coverage amounts
$ 50,000 – $ 1,000,000

2. Best for convenience: give life

Bestow Life offers coverage from $ 50,000 to $ 1,000,000 for 10 and 20 year periods starting at around $ 8 per month. Bestow is a new type of company: everything happens online. Bestow says it is possible to get quotes in seconds and coverage in minutes (if approved) without problems. In addition, a medical examination is not necessary. Bestow uses a lot of data and artificial intelligence, but the purpose of Bestow is people.

The company believes that getting life insurance should be simple and that everyone deserves the protection of having a plan. Contributes partnerships with the North American Company for Life and Health Insurance® which provides and issues policies and earns an A + rating from A.M. Best.

Age requirements
18 – 64

Coverage amounts
$ 50,000 – $ 3,000,000

Initial rate
$ 14.99 / month

3. Best for "Plus" convenience: Haven LIfe

At Haven Life, you can get a $ 250,000 20-year policy starting at around $ 15 a month. Haven Life's mass insurances are long lasting in the insurance sector. You can interface with a modern insurance company supported by an agency with an industry-leading history. MassMutual earns an A ++ from A.M. Best. Haven Life further improves life insurance by offering Haven Life Plus.

Haven Life Plus offers policyholders access to services geared towards living a healthier and more protected life at no additional cost or at a discount. These services include a workout-filled fitness app, an app to help prevent jet lag, and a state-specific personalized online will.

4. Ideal for ease of use: Ethos

Ethos combines industry expertise, technology and personal attention and offers affordable and affordable long-term life insurance. Not sure how much coverage is right for you? You can use the handy Ethos coverage calculator to find out which coverage is best. Ethos does not promise hidden commissions and no upselling.

You can customize the amount and duration of your policy and your reward will not change with age. The monthly premium at the start of the policy will be the price at the end of the policy. You can cancel your policy within 30 days and get your money back – there is no penalty after 30 days. Ethos works with insurance industry giants including Assurance Life Insurance Company and Legal & General America, who earn an A- and A + rating from A.M. Best.

5. Ideal for options: State Farm

State Farm offers life insurance coverage to meet your needs and your budget. You can get a quote online and you will also work with an agent to help you find the best policy for you. The terms arrive in 10, 20 and 30 year intervals. An even bigger bonus: if you survive your policy at 20 or 30, you can get your money back.

You can also choose to keep your policy going with annual premium increases. State Farm also offers the option to convert your life policy into a full life policy. A.M. The best State Farm rates like A ++.

Age requirements
25 – 50

Coverage amounts
From $ 100,000 to $ 5,000,000

Length of the application
10 minutes

Read the full farm life insurance review here.

5. The best for people with children: fabric

Fabric offers term life insurance for people between the ages of 25 and 50. They believe that life insurance is not for you, but for your family. You can apply in just 10 minutes and you may be offered on-site coverage. Their policies are issued by Vantis Life, a Penn mortgage company, therefore the policy is supported by a highly valued and financially stable supplier.

Request online or in the Fabric mobile app. They offer a range of lengths of terms and coverage amounts to help you find a policy that works for you. Choose from 10, 15 or 20 years and cover amounts from $ 100,000 to $ 5,000,000.

To get an idea of ​​how much you could spend on a term life insurance with a Fabric policy, we have collected a real quote. A 20-year life insurance policy for a 29-year-old woman in excellent condition with a coverage amount of $ 250,000 would pay around $ 14.61 per month. It's less of a hamburger combination than Shake Shack! Apply now and see how much this long-term life insurance will cost you.

Protect your loved ones after you're gone

It is sad to contemplate the end of your existence but it is absolutely frightening to think about what will happen to your loved ones if you are not adequately prepared. Life insurance cannot help with the emotional pain of loss, but it can help with the practical aspects of daily Florida life. Fortunately, life insurance isn't a suitable approach for everyone. You can customize your life insurance policy based on your needs and your budget. The tranquility it offers is priceless.

Frequent questions

1) Q: What are the benefits of life insurance?

1
1) Q: What are the benefits of life insurance?
asked 2020-01-13

Leanne Wandoff

1
A lifetime policy allows you to purchase coverage at a guaranteed premium for a limited period of time. This structure makes term living an affordable choice to protect your family if you have a financial commitment that won't last forever, such as a mortgage or the cost of raising children. A 20-year life insurance policy is the most popular life insurance policy purchased to protect loved ones in the event of an unexpected event. Request a quote here from the best suppliers.

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answer 2020-01-13

Benzinga

2) Q: What are the benefits of whole life insurance?

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2) Q: What are the benefits of whole life insurance?
asked 2020-01-13

Leanne Wandoff

1
Whole life insurance, together with universal life insurance and some other variants, is designed to provide life-long coverage. This differs from a forward policy that offers guaranteed premiums for a limited time. Permanent life insurance has an element that helps the policy to build cash value, making it an asset that can be borrowed.

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answer 2020-01-13

Benzinga

3) Q: I have life insurance for work. Do I need more coverage?

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3) Q: I have life insurance for work. Do I need more coverage?
asked 2020-01-13

Leanne Wandoff

1
Most group life insurance policies offered by employers offer a death of 1-3 years' salary. For many families, this amount will not be enough to retire debt or provide for the surviving family. A commonly used rule of thumb suggests that you should have at least 8-12 times your income in life insurance coverage.

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answer 2020-01-13

Benzinga

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