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What Is Term Life Insurance?

By |December 1st, 2021|Categories: Florida Insurance, Individual Insurance, Uncategorized|Tags: , , , , |

Term life insurance is an insurance product that offers coverage on a specified term, usually for a limited period, the specified term. The coverage typically extends for an agreed period of years, as well as the lifetime of the account holder. The insured pays a premium to the insurance company at the beginning of the coverage and is then paid a monthly premium to maintain the policy. During the specified term, the premium amount is adjusted for inflationary factors and life changes. If a policyholder should die before the end of the coverage, at no cost to the policyholder, then ...

What Is a Home Equity Line of Credit?

By |November 24th, 2021|Categories: Florida Insurance, Individual Insurance, Uncategorized|Tags: , , , , |

What is a home equity line of credit? A home equity line of credit is a personal loan in which the lender agrees to lend at a certain amount over an agreed period, usually at a fixed rate, where the secured collateral is the borrower's home. The value of the home does not affect the value of the loan, so it is similar in concept to other personal loans that have a variable interest rate. However, in this case, the equity in the property is used as collateral for the loan. In some cases, the HELOC is used to avoid ...

How Does Life Insurance Work?

By |November 3rd, 2021|Categories: Affordable Care Act, Florida Insurance, Individual Insurance, Uncategorized|Tags: , , , , |

How does life insurance work? It's quite simple. Life insurance works by paying a predetermined amount of money to a beneficiary or beneficiaries upon the death of the insured. In return, these beneficiaries will pay regular monthly premiums (called premium payments) to the insurer. When you purchase life insurance, you pay for a policy with a fixed or set amount of cash value. The death benefit is equal to the sum of all premiums paid plus any amounts determined by the terms of the policy. With some policies, you may also include interest, which is also part of the cash ...