Quick answer
Life insurance pays a set amount to the people you name if you die while the policy is in force. Term life covers a set number of years and usually costs the least for the coverage; whole and universal life last a lifetime and can build cash value; final expense policies cover funeral costs. Cameron Magnuson, a Florida 2-15 licensed life agent, handles every life request, and requests never ask about your health.
Coverage Overview
Life insurance pays a set amount to the people you name if you die while the policy is in force. Most Florida families buy it to replace an income, pay off a mortgage, fund a child's education or cover final expenses. The right type depends on how long the need lasts.
Types of life insurance we quote
- Term life - coverage for a set period, commonly 10, 20 or 30 years. It usually has the lowest premium for the amount of coverage, and it pays only if you die during the term.
- Whole life - lifelong coverage with level premiums and a cash value that grows at a rate the policy guarantees.
- Universal life - lifelong coverage with more flexible premiums. How long it lasts depends on the premiums you pay and the policy's charges and credited interest.
- Final expense - a smaller whole life policy meant for funeral and end-of-life costs, often with a short health questionnaire instead of a medical exam.
Who handles life insurance at Magnuson
Selling life insurance in Florida takes its own license. Cameron Magnuson holds the Florida 2-15 Life, Including Variable Annuity & Health license (P224347) and handles every life insurance request. Magnuson Insurance doesn't offer annuities or investment products.
How a life insurance quote works
Your request on our website asks only what kind of coverage you want and about how much, never your health history. An agent then talks through the amount and length of coverage with you. The insurance company's application asks the health and lifestyle questions, and some policies also need a paramedical exam or records from your doctor. The insurer makes the underwriting decision. Coverage generally starts once the insurer approves the application and the first premium is paid; it can't be bound through this website.
Life Insurance FAQ
How much life insurance do I need?
A common starting point adds up what your family would need without you: several years of your income, the mortgage and other debts, children's education and final expenses. Then subtract savings and any coverage you already have, including life insurance through work. An agent can walk through the numbers with you.
Is term or whole life better?
Term usually fits a need with an end date, like a mortgage or raising children, and costs less for the same coverage. Whole life fits a need that lasts a lifetime, such as final expenses or leaving money to heirs, and costs more because it's permanent and builds cash value. Some families combine the two.
Isn't the life insurance through my job enough?
It may not be. Group life through an employer is often a flat amount or a multiple of salary, and it usually ends or has to be converted when you leave the job. A policy you own stays with you.
What happens if I miss a premium payment?
Florida law gives a grace period of at least 30 days for premiums after the first (section 627.453, Florida Statutes), and the policy stays in force during it. For policyholders 64 and older whose policy has been in force at least a year, the insurer must also mail a notice at least 21 days before the policy lapses, including to a second person you name for that purpose (section 627.4555).
Can the insurer deny a claim over my application?
During the first two years, an insurer can contest a policy over a material misstatement on the application. After a policy has been in force for two years during the insured person's lifetime, Florida law makes it incontestable except for nonpayment of premium and certain disability and accidental death provisions (section 627.455). Answer every application question fully and accurately.
What it usually doesn't cover
- A term policy's death benefit after the term ends, unless it's renewed or converted first.
- Suicide during the exclusion period the policy states.
- A claim the insurer denies over a material misstatement on the application while the policy is still contestable (the first two years).
- Disability income and long-term care, which are separate policies.
- Annuities and investment products, which Magnuson Insurance doesn't offer.
Every policy is different. Your declarations page and policy form decide what's covered.
Have this ready before you ask for a quote
- Ages of the people to be insured
- About how much coverage you want, and for how many years
- Life insurance you already have, including coverage through work
- Your mortgage balance and other debts you'd want paid off
- Who you want as beneficiaries
Don't send health information through this website. The insurance company's application asks those questions, and an agent will walk you through it. Coverage can't be bound through this website.