Life insurance isn’t always comfortable to think about, but it’s crucial to ensure our family and loved ones have the resources they need to be comfortable after we’re gone. Our partners at ConsumerAffairs researched the best life insurance in West Palm Beach to protect your family’s financial security.
Everyone deserves to make thoughtful, informed purchase decisions. The local guides provided on this website are free for consumers. WPTV may receive compensation from our partners. Learn more.
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It’s not easy to face the possibility of unexpected death, but it’s essential to make a plan if you have a significant other, children or other members of your family who rely on you. Life insurance is one of the best ways to protect your family’s financial stability after you’re gone.
The benefits from a life insurance policy can be used to cover funeral costs, provide income replacement, pay outstanding debts or provide an education fund for your children. Everyone benefits from life insurance—even those without a partner or children may have other family members who would be helped by the death benefit.
There are two main types of life insurance in West Palm Beach:
Term life insurance is designed to pay out during a pre-agreed term, typically from one to 30 years. Most plans offer a level payout, which means the death benefit stays the same throughout the term of the policy.
Whole life insurance doesn’t expire and covers the insured party for life. These policies tend to be more expensive and have a cash value that can sometimes be borrowed against. Unlike term life insurance, whole life policies have a guaranteed return on value.
Universal life insurance, a form of whole life insurance, is becoming increasingly popular in West Palm Beach. Universal life insurance has death benefit and cash value components, and policyholders can access the cash value to potentially skip a premium or even borrow a small amount during hard times.
The cost of life insurance in West Palm Beach
The cost of your life insurance premiums will depend on the amount of the benefit and type of policy. Your insurance company’s actuaries will also look at individualized factors, including;
Alcohol and tobacco use
Hazardous hobbies or professions
When choosing a life insurance provider in West Palm Beach, make sure to look for a financially stable company you can trust. Companies such as MetLife, Prudential Financial, State Farm and New York Life Insurance Group are all popular choices with a history of excellent service that serve the West Palm Beach area.
Policygenius provides an easy online portal for comparing different life insurance policies. West Palm Beach reviewers are pleased with how Policygenius was able to simplify the purchasing process and increase transparency while maintaining privacy when it comes to personal information.
EverQuote has become a major online source for life insurance quotes. The company provides an online application and matches you with life insurance companies that best fit your needs. Customers from West Palm Beach say it was easy to use EverQuote’s platform, but some users were confused to find they weren’t dealing directly with an insurance carrier.
Bankers Life focuses on helping West Palm Beach residents enjoy a financially secure retirement through a variety of services, including providing life insurance. The company strives to build a strong relationship with its customers who appreciate the company’s experience and expertise.
Rothrock & Associates
Rothrock & Associates has multiple certifications, including from the FAIA, and is a local provider for MetLife and American Integrity. West Palm Beach customers praise Sean Rothrock’s personalized attention to detail and his ability to explain policies and lower the price of premiums whenever possible.
Our partners independently research and analyze the companies mentioned in our guides and work with subject matter experts to add valuable information that helps consumers make smart purchase decisions. Our partners will not include companies on these guides that do not meet specific quality standards. The compensation we receive from our partners may impact how and where companies appear on our site, including the order in which they appear.
Our partners independently research companies, and use editorial discretion to award companies with special recognition (i.e. Best Value) based on their staff’s judgement or subject matter expert’s judgement. Our partners do this to help you identify companies that will meet your specific buying needs, and do not receive compensation for these designations.