Life Insurance in Orlando, FL
A life insurance policy can provide peace of mind, knowing your family can be financially secure after you pass away. Having this policy may help your loved ones cover daily living expenses, mortgage or rent payments, and other financial obligations.
What Is Life Insurance? 
Life insurance is a contract between you and an insurer. In return for your premium payments, the insurer may agree to make a death benefit—a designated amount in your policy—available for your beneficiaries to claim upon your death.
What Types of Life Insurance Are Available?
There are various types of life insurance, but most fall into the following two main categories:
- Term life insurance may provide a payout to your beneficiaries if you die during the policy term, typically 10, 20 or 30 years. If you outlive the term, the policy does not pay out. At the end of the term, you can reapply for a new policy or choose not to continue coverage.
- Permanent life insurance may remain in force for your entire life if you continue to pay the premiums. Apart from the death benefit, the policy includes a cash value component, which can be used as an income source while you are alive.
How Much Life Insurance Should You Have?
Determining the right amount of life insurance can be complex. As you age, start a family or take on significant debts like a mortgage, you may need to adjust your coverage. It’s best to consult with an insurance professional to discuss your financial goals and obligations.
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The agents at YIM Insurance Group are ready to assist you in obtaining your optimal life insurance policy. Contact us today to learn more.