Everything you need to know about term, return of premium, and whole life insurance — answered plainly.
What's the difference between term and whole life?
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Term life covers you for a specific period (10–30 years) and pays a death benefit if you pass away during that time. Whole life covers you permanently and builds cash value you can access during your lifetime. Term is less expensive; whole life is a lifelong financial asset.
What is Return of Premium life insurance?
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Return of Premium (ROP) is a type of term insurance where 100% of your paid premiums are returned to you tax-free if you outlive the policy. You get full death benefit protection during the term — and if nothing happens, you get all your money back.
How much life insurance do I need?
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A common guideline is 10–12 times your annual income. But the right amount depends on your debts, number of dependents, income replacement needs, and future expenses like college. Our coverage calculator gives a solid estimate, and our advisors help you fine-tune it.
Do I need a medical exam?
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Not always. Many carriers offer no-exam policies with same-day approval for healthy applicants under 60. Coverage amounts may differ slightly, but it's a great option for those who want fast, hassle-free coverage.
Is Divito Insurance licensed in Florida?
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Yes. Divito Insurance is a fully licensed life insurance agency in the state of Florida. Our agents hold active Florida Department of Financial Services licenses and are authorized to sell all major life insurance products statewide.
How long does the application take?
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For no-exam policies, approval can happen in 24–48 hours. Fully underwritten policies typically take 2–6 weeks depending on the carrier and health review. We guide you through every step.
Can I get life insurance if I have health conditions?
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Yes, in many cases. Different carriers have different underwriting standards. We work with 7+ carriers to find the one most favorable to your specific health profile. Some conditions that one carrier declines, another may approve at standard rates.
What happens if I miss a premium payment?
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Most policies have a grace period of 30–31 days. During this time your coverage stays active. If the payment is not made within the grace period, the policy may lapse. We help clients set up automatic payments to avoid this.
Can I change my coverage amount later?
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It depends on the policy type. Term policies generally cannot be changed mid-term, but can be converted to permanent coverage. Whole life policies can sometimes be adjusted. We review your options at every policy anniversary.
Is the death benefit taxable?
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In most cases, life insurance death benefits are paid income tax-free to your beneficiaries. There may be estate tax considerations for very large policies. We recommend consulting a tax advisor for your specific situation.
Still have questions?
Our licensed advisors are available Mon–Sat, 9AM–7PM. No robots, no hold music — just real answers.