Life Insurance Plans for Pensacola, FL

Need a reliable life insurance broker in Pensacola, FL?

We are an independent insurance agency in Pensacola, FL that specializes in helping you choose and enroll in the right life insurance plans for you. Don’t leave the future of you and your loved ones to chance. Torgersen Causey can help you find the right Pensacola life insurance coverage for you, and help ensure that your policy continually meets your needs.

FREQUENTLY ASKED QUESTIONS

Have questions about life insurance plans in Pensacola, FL? Read our frequently asked questions to see if your question is answered there, or contact us today!

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Serving the Pensacola, FL area for over 20 years. Find out why our customers have trusted us with helping them choose the life insurance plan that’s right for them.

ABOUT TORGERSEN CAUSEY

We have been a trusted name in the insurance and benefits industry in Pensacola, FL for over two decades. Learn more about our team and how we can help you.

Choose the Right Florida Life Insurance Plan

Secure the future for you and your loved ones. A life insurance contract allows for a lump-sum benefit to be given to the policyholder’s beneficiaries in exchange for regular premium payments. This lump-sum is paid when the insured passes away or a certain amount of time has passed. 

Your life’s memories can continue thanks to life insurance. The life insurance you select can be there for your loved ones when they need it most, whether it’s to keep the mortgage paid, maintain a current quality of living, pay off debts, or pay for college.

Frequently Asked Life Insurance Questions

The price of life insurance can vary, with monthly payments as little as $18 or as high as $365. Understanding the elements influencing premium costs is essential when seeking for affordable life insurance. Age, general health, and smoking history are a few of these. The life insurance company with the cheapest option for you will depend on your exact situation.

Policies that offer protection for a predetermined time frame are referred to as term life insurance.

Because term life insurance is straightforward and only lasts for a set number of years, it is less confusing and more economical than whole life insurance. Term life insurance is typically the most affordable type of coverage.

A term life insurance policy offers security for you and your family for a predetermined amount of time. It's also one of the least expensive forms of life insurance available.

Term life insurance is a straightforward, reasonably priced sort of life insurance that provides coverage for your family for a predetermined amount of time, generally 10, 15, 20, 25 or 30 years. You select a term length that corresponds to the duration of your financial obligations. For instance, until your mortgage is paid off or the kids are adults.

After the term length is over, your coverage ends. You don't get back your premium payments, but the point is to have affordable coverage in place during those critical years just in case something happens.

If you want to provide financial protection for your family or those who are financially dependent on you at a reasonable cost, term life insurance is worthwhile.

According to Business Insider, the average cost of a life insurance policy ranges from $40 to $55 per month. However, the true cost will vary by the type of insurance, coverage amount, and personal factors, including health and smoking history. Permanent insurance is typically more expensive than term life insurance, as it is used differently.

Whole life is a permanent life insurance that will last your entire life, as long as you continue to make premium payments. Additionally, it builds up cash value that you can use to your advantage by borrowing or withdrawing money against it while you are alive. On the other hand, term insurance only lasts for the specified number of years (the term) and does not build up any cash value.

If you can afford the premium payments, whole life insurance offers lifelong protection while term insurance only protects you for a set number of years.

However, budget-conscious clients may not want to choose whole life because the premiums can be five to fifteen times more than those of term policies with the same death benefit.

Both types of policies' death benefits are paid out without incurring any income tax. Whole life insurance policies also have advantageous tax status for their cash value.

Therefore, it is up to your own personal circumstances and needs to determine whether whole life or term life is a better fit for your needs. Contact us today, and our life insurance experts at Torgersen Causey can help you determine which will work best for you and your family.

Every life insurance policy will have different terms for the waiting period before it takes effect. While some insurance policies allow you to get a death benefit right away, others require you to wait four or five years. However, it will typically take one to two years before your life insurance begins to pay off.

These waiting periods are implemented by insurance companies to stop insurance fraud and to safeguard their finances. It is not financially feasible for the insurance company to pay your benefits in the event that you get an insurance policy and die the following month because you haven't paid any premiums. For better protection, these regulations encourage people to buy life insurance sooner.

Data from Policygenius shows that an insurer's life insurance payout can take anywhere between 14 and 60 days to arrive. However, a number of circumstances, such as the manner and timing of the decedent's death as well as the insurance company's policies, affect how long you will have to wait before receiving the death benefit after making a claim.

Because term life insurance only provides temporary coverage for a certain length of time, your coverage would typically end if you outlive the term. If your term policy is renewable or convertible, it would be possible to continue coverage as long as you meet your policy's deadlines and requirements for conversion or renewal. 

Generally, if you outlive the term, the policy just expires and no action needs to be taken. You will no longer pay the premiums, and there is no longer any potential death benefit. 

In general, your chosen beneficiaries will receive the life insurance payout if you pass away from natural causes, a disease, or an accident. However, your insurer might choose not to pay the death benefit to your beneficiaries if you don't die due to one of those reasons. The following scenarios could prevent your beneficiaries from receiving benefits:

  • Risky activities (such as scuba diving, hang gliding, rock and mountain climbing, drug use, working as an offshore fisherman, working as an underground miner, etc)
  • If your beneficiary murders you or is somehow involved in your murder
  • Suicide within the policy's first two years
  • Lying on your application/insurance fraud (for instance, lying about your family health history, medical conditions, or alcohol and drug use)
  • Not naming a beneficiary (or they predecease you)

It is important to note that each policy will have different coverage for each of the above, so it's important to check with your insurer to see what exactly is covered and what is not.

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