Nobody likes to think about life insurance, but in many ways, it is the most important insurance of all. It is the only insurance that doesn’t benefit you directly but serves as a gift to the loved ones you leave behind. Ensuring that you provide for your dependents is a decision that requires careful consideration to get it right. At Morgan Insurance Services in Tampa, FL, we are independent insurance agents who will work with you to ensure you have the life insurance coverage you need.
Before meeting with our agent to discuss your life insurance options, it’s helpful to prepare a list of questions. This will allow us to understand your needs better and recommend the best coverage for your situation.
Should I Choose Whole Life Insurance or Term Life Insurance?
Whole life insurance is a policy you keep for your entire life. It earns dividends and grows over time, allowing you to borrow against it if needed. It provides protection while also serving as a savings tool. Term life insurance, on the other hand, lasts for a specific term, often 20 years. If you need a large amount of coverage—for example, when you have a growing family—it can offer higher protection at a lower premium. However, at the end of the term, there is no remaining value.
Do I Need More Life Insurance Than What I Get From Work?
If you plan to stay with the same employer for your entire career, you may not need additional coverage. However, if you anticipate changing jobs, it’s wise to have at least some life insurance of your own.
Contact our team at Morgan Insurance Services in Tampa, FL, for all your life insurance needs.
