No matter how old you are, life insurance should be an important part of your financial planning. Life insurance is designed to provide your loved ones with financial security in the event you were to pass away. Unfortunately, most families do not have adequate savings to get by if they were to lose a loved one. At American Family Agencies, we are committed to helping families throughout Clearwater, Crystal Beach, Palm Harbor, and Ozona gain this security through an affordable life insurance plan that meets their unique needs.

It is important to think about life insurance while you are young. As you get older, premium rates start to increase. Life insurance can be purchased at a younger age knowing that your policy and benefits are protected. The Florida Life & Health Insurance Guaranty Association was established in 1979 to protect policy holders in the event a life insurer becomes insolvent during a policy holder’s lifetime.

Many people are offered life insurance benefits through their employer. Unfortunately, these benefits rarely provide sufficient coverage. It is not uncommon for employer-offered life insurance to only offer up to a single year of income. A general rule of thumb is that a life insurance policy should provide a benefit of approximately 8 to 10 times the breadwinner’s yearly income. Life insurance from an employer can fall well short of this recommendation, leaving your loved ones unprotected.

Life insurance is offered as either Term Life Insurance or Permanent Life Insurance.

  • Term Life Insurance - Coverage for a set period of time, usually anywhere from 5-30 years. Term Life Insurance is one of the more affordable types of life insurance.
  • Permanent or Whole Life Insurance – Coverage for a lifetime and can often include an investment component. The investment component of Permanent Life Insurance makes it the more expensive option of the two.


While these are the two most general categories of life insurance, there are variations of each including Universal Life, Variable Life, and Variable Universal Life insurance policies. These policies are designed to offer more flexibility than a traditional Whole Life Insurance policy can offer. The team at American Family Agencies can break down each of these options for you so that you can select the type of policy that is best for you.

When shopping for life insurance, you will want to think ahead about any possible expenses your loved ones may incur. Consider things like medical expenses, burial costs, estate taxes, monthly bills, how much remains on your mortgage, college tuition, and retirement costs. After every major life event such as the birth of a child, marriage, or the purchase of a new home, it is important to reevaluate any life insurance investments you have made to ensure your coverage is still sufficient.

At American Family Agencies, our dedicated staff is committed to helping you make sure your loved ones are taken care of, even after you have passed. Do not leave your loved ones unprotected. Contact us today with any questions you may have about your Florida life insurance options.