Life insurance is designed to provide for the loved ones that you would leave behind in the event of your death. “Term” life insurance is an option that allows you to live covered for a specific length of time. This is an attractive option for many people because the rates are fixed at the beginning and will not change throughout the length of the term. The cost of this kind of life insurance tends to be lower than other plans because it is for a set length of time, rather than for the entire life of the insured.
The bottom line is that if there are people who are dependent on your income to provide for them, then yes, you absolutely need it. There are many affordable options out there, and at Tampa’s Cornerstone Insurance Agency we work to build a plan that fits your specific needs and budget.
Many insurance agents only work with one specific insurer and this can limit your options. We work with more than 30 different life insurance companies including:
- Banner Life
- American National
- American General
- North American
- John Hancock
- AXA Equitable
- Minnesota Life
- Mutual of Omaha
There are several factors that need to be considered when purchasing term life insurance. Here are some important questions that can help determine how much life insurance your family needs.
- How much do you spend each month? Your family will need to deal with the current living expenses, and that number will help find the right level of coverage for you.
- What debt do you currently have? If there are car payments, student loans, or credit card debt that will be left, you need to make sure that your family will be able to make those payment as wells.
- How many dependents do you have? A family of three will have drastically different financial needs than a family of five.
- What are your long-term savings goals? Your family may need to pay for college tuition or retirement, so it’s important to make sure the specific needs of your family will be met.
- Will my family need personal time? If your spouse would need to take time away from their job after a tragedy, their lost income also needs to be taken into account.
Cornerstone Insurance Agency is a family owned and operated business that understands the importance of providing for your loved ones. We have years of experience helping people choose the insurance plans that are right for them.
If you are looking for a local Tampa-based insurance agency that cares about your family and has years of experience, then all you need to do is call us. We get to know you and shop the top carriers for you so you receive the best term life insurance available. As members of the Florida Association of Insurance Agents, we take pride in the exceptional customer service we provide to all of our customers.