Exploring Florida Life Insurance Policies
May 16, 2007 – 8:05 amMy friend, Markus, who lives in Florida, told me that it is a fun state to live in but Florida Life Insurance never comes cheap, he said that is because Florida is a retirement state so there are more senior citizens around. Therefore, insurance companies need to charge higher premiums across the board to cover their losses, if any.
Well, Markus should know about the population of senior citizens there. His own grandparents moved to Florida to retire and indirectly contributing to the higher premiums!
However, Markus said that even if the premium is high, it is always advisable to get a term life insurance policy because it is still the smartest choice for people under 45 years of age and without too much money to spare.
Markus told me about Florida life insurance policies because he heard that I am shopping for one. He said that I should read my policy carefully and ask if I am unclear of certain points.
He advised that it is best to get a policy with guaranteed renewals so that I do not have to shop for a new one or be unable to renew it when my policy expires after a period of time. Isn’t it scary to think that when you are old, that is the time that no insurance company wants to insure you??
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