Life Insurance in Jacksonville, FL

Life insurance may provide financial assistance to your loved ones in case of your passing. Without it, your family could face financial burdens, such as unpaid debts and mortgage payments, making an already challenging time even more difficult. Securing an adequate coverage now can help safeguard your family’s financial future and provide them the stability they deserve.

How Does Life Insurance Work?

Life insurance is a contract between you and an insurance company, where the insurer may pay a set amount to your beneficiaries when you pass away. This death benefit can be used for various financial needs, such as covering funeral expenses, paying off debts or providing ongoing financial support to loved ones. In exchange, you pay premiums to the insurance company during your lifetime.

There are different types of life policies, including term life and permanent life. Term life may cover the insured for a specific period, usually 10, 20 or 30 years. If the insured person dies within this period, the beneficiaries may receive a death benefit. On the other hand, permanent life may remain active as long as premiums are paid on time. It also includes a cash value component that can accumulate over time.

What Does It Cover?

Life insurance may cover the policyholder’s death, providing a lump sum payment to the beneficiaries. This payment can be used for various purposes, such as the following:

• Funeral and burial costs
• Debt repayment (e.g., mortgages, car loans or credit card balances)
• Daily living expenses
• Education costs

How Much Does it Cost?

Your life insurance cost will vary based on factors such as your age, health, lifestyle and the type and amount of coverage you choose. Generally, younger and healthier individuals pay lower premiums. A term life policy is typically more affordable than permanent life policies because it covers a specific period.

Where to Get Life Insurance

If you’re considering life insurance, Bacon Insurance is here to help. Serving clients since 1969, our experienced agents can guide you through the process and help you find the right policy. Contact us today.