Quote FL Insurance Blog

Have you taken care of dwindling medical needs such as medication for your blood pressure or cholesterol? Keeping these medical needs under control can make you appear healthier in the eyes of the insurance company.

Save money on your life insurance premiums by paying annually. Rates can decrease dramatically if you opt to pay in a yearly lump sum instead of monthly.

Find your life insurance policy as early as you can. Rates increase and eligibility decreases as you age, especially if you or your spouse becomes seriously ill.

Do you still need to be paying in to your life insurance policy? If your children are grown and you and your spouse are comfortable for retirement, perhaps you no longer need to grow your insurance policy.

Quit smoking and you will save thousands of dollars over your life. Save even more money by getting lower insurance premiums for being smoke-free.

Consider working out. Better health can save you money on your life insurance costs in Florida when you face the mandatory physical examination.

Have you calculated the exact amount that you would need to provide to support your spouse or children when purchasing life insurance? Take advantage of online calculators to better make a decision about the amount of your policy. The Life and Health Insurance Foundation for Education provides an online calculator for your benefit.

Never disclose your personal information to insurance agents that are not licensed with the state of Florida. According to the National Insurance Fraud Bureau, insurance fraud costs Floridians 30% on their life insurance premiums.

Did you request a prospectus when you purchased your life insurance policy? Florida insurance agencies must provide a prospectus, upon request, which is a summary of the investment you are buying.

Did you receive a 10-day trial period to make a final decision about your new life insurance policy? In Florida it is mandatory to offer the buyer a 10-day trial of their new life insurance product.

Check the star rating of your future life insurance company. Organizations such as A.M. Best Company, Standard and Poor’s Corp. and Weiss Ratings Inc. have published ratings of all Florida life insurance companies.

Unsure if your life insurance sales representative is reputable? Check with the Florida Department of Financial Services to verify their credentials.

Be wary of “debit” or “industrial” life insurance policies. There are over thirty companies that still sell these policies to Floridians, but they hold little value and can be sold by unlicensed individuals.

Does the contract signed in the re-sale of your life insurance policy have an unconditional provision that allows you to withdraw the contract? In the state of Florida, the seller has 15 days after they receive the benefits of the sold policy to cancel and give back the funds.

Are you terminally ill and want to access your life insurance resources now? Check if your policy offers an accelerated death benefit before selling the policy for a lesser amount.

Thinking of selling your Florida life insurance policy for early benefits? Life insurance brokers must be licensed by the State of Florida and must inform the state of the agency that provided the life-expectancy estimate.

Shop around. There are more than 700 companies that sell life insurance in Florida.

Have you updated your Florida will? Make sure your will correlates with your life insurance beneficiary designation to ensure no legal battles later on.

Who is the beneficiary designated on your life insurance policy? In Florida, a verbal agreement will not legally authorize anyone to receive your life insurance assets.

Don’t cheat your family out of more than 30% of their inheritance. Avoid Florida estate tax by putting your permanent life insurance policy in a trust.