Life Insurance in Delray Beach, FL & Port St. Lucie, FL
Life insurance can provide your beneficiaries with a lump-sum payment, known as the death benefit, after you pass away. It can help prevent your loved ones from facing financial hardship during challenging times.
What Does Life Insurance Cover?
Life insurance may provide funds that may help maintain your beneficiaries’ day-to-day life. This payment may be used for any reason, including the following:
- Funeral and burial costs
- Mortgage or rent payments
- Everyday living expenses
- Childcare or education
- Outstanding debts
- Lost income replacement
- Medical bills
What Policy Options Are Available?
Various types of life insurance are available, but there are two main categories:
- Term life insurance is designed to provide coverage for a specific period. If the insured passes away during that time, the benefit is paid out.
- Permanent life insurance may stay in effect for as long as premiums are paid. These policies often include features like cash accumulation and interest benefits.
An agent from Palm Tree Insurance Agency can walk you through your choices and help you select a policy that matches your family’s needs.
How Much Coverage Do I Need?
Choosing the appropriate amount of life insurance depends on your current lifestyle, financial responsibilities and long-term goals. The following are some essential factors to think about:
- Your income
- Household expenses
- Outstanding debts
- Children’s future education costs
- End-of-life expenses (e.g., funeral and burial expenses, medical bills)
- Existing savings and assets
- Dependents’ needs (e.g., childcare, assisted living for older adults)
Secure a Policy Today
Contact Palm Tree Insurance Agency today to explore life insurance options that match your needs. We’re here to help you find coverage at a price that fits your budget.