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Term Life Insurance
Term life insurance, sometimes called temporary insurance, insures an individual against death for a specific period of time. The time period is flexible and can be specifically tailored to an individual's needs. An individual with a family, may want term life insurance until his children complete college, or until the mortgage has been paid off, or maybe up to the age of retirement. Premiums are paid on the term life insurance policy until the end of the term specified, and then the policy expires, just like car insurance or property insurance.
Term life insurance rates have been dropping steadily in response to increased competition. Term life insurance has become a commodity, and improved access to online life insurance quotes information, such as at this web site, is making it even more so. Many term life insurance policies also include disability insurance resulting from serious accident or illness.
Palm Beach Insurance Quotes is your best choice for Term life insurance. We make it possible for you to find the best values in term life insurance. Unbiased independent insurance agents will provide personal service and quick response. Since we represent most insurance companies we can find you the best term life insurance policy at the best price to suit your specific needs.
Whole life insurance is essentially the same as term life insurance in terms of benefits, with two exceptions. Whole life insurance does not expire as long as you continue to pay the premiums. Also, whole life insurance is an investment vehicle. The value of the investment, known as the "cash
value" increases over time, and can be used as collateral when financing a loan. A portion of the annual premium goes towards the actual whole life insurance policy, while the remainder is deposited in an investment account.
Whole Life Insurance
Whole life insurance provides the same piece of mind to young families or individuals with other dependents as term life insurance. The most important aspect of whole life insurance is that it protects sizeable estates from estate taxes by the federal government which can be as high as 42% of the value of the estate. Without whole life insurance, beneficiaries of the estate can be forced to liquidate assets at economically unfavorable times in order to pay the required estate taxes.
There are many variations to whole life insurance policies, ranging from disability benefits, to the types of investment accounts that your money can be deposited in. It is important to talk to our independent insurance specialists to determine what options are available and which of those options best suit your individual needs. Ask the specialists at Palm Beach Insurance quotes which whole life insurance policy is best for you!