Life Insurance Plans in the Tampa Bay Area
End-of-life options are never comfortable things to talk about, but a simple fact of life is that it is inevitable. When your time comes, will you have left a meaningful legacy for your loved ones? Now you can prepare with confidence thanks to Bradshaw Insurance LLC. I can help you establish life insurance plans that allow you to look to the future with a positive and reassured state of mind. When you work with my company, you will have a plan that covers you and those you most care about.
Just as every person has unique needs, so too are the life insurance policies that are available to qualified individuals. While the selection may be daunting, you can rest easy knowing that I am here to help. Schedule a free, no-obligation consultation with me, and I will help you find a policy that best accommodates your needs. We’ll go over your options carefully so you can make a well-informed decision. I can set up three different types of policies, each described below.
Learn More About Your Options
Whole Life Insurance
As its name suggests, “whole life insurance” pays a benefit on the death of the insured, while also accruing a cash value during the duration of the policy. This type of coverage is ideal for preparing families for the unexpected. The benefit received from whole life insurance can help pay for a variety of things, including an outstanding mortgage, offset lost income, or leave a legacy for the next generation.
Whole life policies can be paid through a single premium, regular premium payments up to age 100, or up to a limited number of years. Please note that loans meant to pay for this policy will accrue interest and can reduce the value of the benefit and cash value.
Term Life Insurance
Life is unexpected, and sometimes taking into account specific risk factors at certain times may make it more feasible to consider term life insurance. These policies define a period of time, the “term,” during which you pay premiums. Should something happen to you during that time, the policy will grant a guaranteed death benefit to those you appoint. Payments toward a term policy remain level throughout.
Many people opt for term life insurance due to its customizability. Add-on services, known as “riders,” allow you to tailor coverage to meet your needs. Rates for this coverage type are generally lower, as they are “locked in” throughout the duration of the term. The death benefit is tax-free and can be used however the beneficiary sees fit. Terms can be defined from 10, 15, or 20 years, and can even be upgraded to whole life coverage, should you qualify.
Final Expense Life Insurance
“Final expenses” are costs that are associated with your death. This includes fees for funerary services, including cremation and burial. A final expense life insurance policy can provide the coverage you need to ensure you do not burden your loved ones with funeral costs and its associated services. This policy can cover a wide range of services, such as preservation and the casket, viewings, hearse, and also cremation and its related effects.
As a guaranteed policy, the final expense policy does not require paramedical exam for approval. In most cases, the applicant only needs to answer a few questions before coverage is considered. Funeral homes may opt to accept a sum of this policy to cover services in advance. In turn, the beneficiary will receive any money not used to cover the services. It is encouraged to check with the funeral home in advance, as some may wish for upfront payment instead of waiting for the insurance benefit to be approved and disbursed.
Contact me to learn about your options with life insurance plans. We proudly serve clients throughout the Tampa Bay area.