Life Insurance with Returns protects you and your family for a certain period of time. The difference from a traditional term policy is that they return your investment, guaranteeing you savings for your future.
At the end of the membership period you will be reimbursed all installments paid in a fixed amount, which is not dependent on fluctuations, interest rates, or capital markets.
Today many of our clients in Miami, Broward, and West Palm Beach prefer this type of Life Insurance. Especially young parents, or singles with small children. With an installment return policy, these parents could cover their children and, at the same time, expect to reimburse their monthly payments over the years.
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Life Insurance In Miami: How A Life Insurance Company Decides Your Monthly Payments?
To determine the monthly payments for a Life Insurance in Miami, insurers take into account many factors. Young applicants, people who are in good health, non-smokers, and individuals who do not have dangerous occupations, will have lower monthly payments. The company expects those insured to live for more time. Applicants who are older, have health problems, smoke or have hobbies or dangerous occupations will pay more.
Life Insurance In Miami: Who Needs It?
Consider purchasing Life Insurance if there are people who are financially dependent on you. Choose an insurance that is sufficient to pay your debts and to provide your beneficiaries with some income. Consider your circumstances and the type of quality of life you want your dependents to have when you decide to buy Life Insurance.
If you have a large amount of goods that may be subject to state or federal taxes, debts, such as mortgages, credit cards, student loans, or you want to help your kids pay for college, you should consider buying Life Insurance.
Life Insurance with Premium Return: Why are the premiums of this type of insurance higher?
The Premium Return benefit on Life Insurance requires a slightly higher payment, which guarantees the return of your entire monthly premium at the end of the membership period. It is precisely that additional amount which the insurance company then invest that provides the money for the premiums that are reimbursed.
Life Insurance In Miami: How Many Beneficiaries Can I Designate?
You can designate one or more beneficiaries. If you designate more than one, you have to decide how you will divide the money. You can also select a second beneficiary or contingent beneficiary to receive the money if the primary beneficiary dies before you.