FL Fort Lauderdale Life Insurance
Reader’s Question:
Should I buy life insurance in Fort Lauderdale, Florida even if I am single?
Terence
Fort Lauderdale FL
Hi Terence
The answer lies on your goals and priorities. Life insurance is basically used as an investment to protect your dependents in case you die. When you die, you would leave them something that won’t make them look like they have lost everything. With life insurance, you leave them with money to sustain them even when you are not able anymore. Is somebody depending on your income or money? Perhaps a niece, an adopted child, a parent or parents, brother and sisters or any blood related dependent person. If you have, you may need life insurance for them. Pure life insurance coverage is called term life insurance and you can purchase this at terms that fit the time when these dependents are leaning on your sustenance.
If you’re goal is to invest in life insurance for your future family, you can also do so. You will have to leave the beneficiaries blank. Perhaps you want to invest while you can. In this case, you may need to buy permanent life insurance. At least with permanent life insurance, there is investment side. This means you accumulate cash for every premium. You can borrow the money in the future and just pay it to keep the life insurance enforced. At least with permanent life insurance, it’s not just for your beneficiaries but for your own savings too.
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