Florida Life Insurance Information
FL Life insurance is a crucial step in planning for your future and the future of your loved
death benefit to your beneficiaries in return for premiums paid to the insurance company. FL
life insurance can also provide benefits while you are living.

Advantages of the Death Benefit

•Provides income tax-free money to your named beneficiary(s) that can be used to pay
funeral expenses, debt, tuition, estate taxes, or virtually any financial need you leave behind.
•Can provide Florida business security by enabling partners to buy out the interests of a
deceased partner and prevent a forced liquidation.
Advantages of Living Benefits

•The cash value growth of a permanent FL life insurance policy is tax-deferred¹, which
means you do not pay taxes on the growth of the cash value unless the money is withdrawn.
•Loans² or withdrawals can be taken against the cash value of a permanent FL life insurance
policy to help with expenses, such as college tuition or the down payment on a home.
•¹Accumulated growth may be taxable upon withdrawal. If the policy is a Modified Endowment
Contract (MEC), tax penalties may apply prior to age 59½. Consult a tax advisor on your
specific situation.
•²Policy loans and withdrawals reduce cash value and the death benefit, and may be subject
to other charges outlined in the contract.
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Assessing Your Need
The amount of Florida life insurance you select should be dependent on your personal and
financial needs. We can assist you in determining an appropriate Coverage amount and
help you decide on which type of life insurance is right for you. Generally, you should
consider life insurance if you have:

•A spouse
•Dependent children
•Aging parents or a physically challenged relative who depends on you for support
•Retirement savings that aren’t sufficient to ensure your spouse’s future financial well-being
•A sizable estate
•A business
Life Changes — So Should Your Policy

As events happen in your life, your FL life insurance Coverage may need to change to adapt
to your current needs. Some life changes that may require you to re-evaluate your
Coverage include marriage, divorce, a new baby, purchase of a new home, and/or
retirement.

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Types of Life Insurance

There are several different types of Florida life insurance products available. The most
common include:

Term Life Insurance

Term life insurance in FL provides life insurance protection for a specified period of time. If
you don’t currently have life insurance, term can be a good place to start. It's generally less
expensive than permanent life insurance, and is available in varying term periods with fixed
premiums from a one- (annual renewable term) to 20-year period (level term). Term
insurance can sometimes be converted to permanent Coverage, providing you with flexibility
as your needs change.

Whole Life Insurance

Whole life insurance is a form of permanent life insurance that remains in force during the
insured person's lifetime, provided the premiums are paid as specified in the policy. Whole
life insurance can build cash value.

Universal Life Insurance

Universal life insurance is a form of permanent life insurance characterized by its flexible
premiums, flexible face amounts, and unbundled pricing structure. Universal life can build
cash value, which earns an interest rate that may adjust periodically, but is usually
guaranteed not to fall below a certain percentage.

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