Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our opinions or reviews. Learn how we make money.

Life insurance companies in Florida 2020

What to consider when purchasing a life insurance policy in the Sunshine State.


Fact checked

Like most insurances, life insurance is regulated by state law. Find out what you can expect when buying coverage, along with our list of available life insurance providers in Florida.

How much does life insurance cost in Florida?

Your premium is a product of your age, gender, driving record, occupation, hobbies, health and family medical history. We couldn’t find any publicly available information about whether life insurance rates are affected by the state you live in. However, some experts say residents in states that are prone to natural disasters, such as earthquakes, hurricanes and tornadoes, may pay more for coverage.

Flooding is common in some parts of Florida, and this might influence life insurance rates.

What risk factors will life insurance providers consider if I live in Florida?

Living in Florida, the rate you’re offered will reflect the following risk factors:

  • Age. Usually, the younger you are, the less you’ll pay for life insurance. Life expectancy comes into play here, and Florida residents can expect to live to a median age of 77 years.
  • Weight. Obese and overweight people are more likely to run into serious health problems, such as heart disease and diabetes. To compensate for that risk, life insurers often charge higher rates. In Florida, the adult obesity rate is 28.4%.
  • Tobacco use. Tobacco use is associated with heart disease, stroke and COPD, so non-smokers tend to pay less for life insurance. 15.5% of adults smoke in Florida. To put this into context, the national average is 17.1%.
  • Occupation. People with dangerous jobs can expect to pay higher premiums. Think firemen, loggers and war journalists.
  • Gender. Across the US, men have an average life expectancy of 76.1, and for women, the number sits at 81.1. As such, men might pay more for coverage.
  • Driving record. If your driving record is free from DUIs and major traffic violations, you may score a lower rate. Insurers assess accident and crash data to determine rates, too. In 2017, there were 3,116 driving-related deaths in Florida.
  • Lifestyle and hobbies. It’s risky to cover people who sign up for bungee jumping, skydiving and other dangerous hobbies. Watersports are popular in Florida, and insurers may consider your penchant for those when crunching the numbers.

Compare life insurance in Florida

Name Product Issue age Minimum Coverage Maximum Coverage Term Lengths Medical Exam Required
18 - 60 years old
5, 10, 15, 20, 25 and 30 years
This life insurance broker combines technology and the human touch to match you with a policy tailored to your needs.
21 - 54 years old
10 or 20 years
Affordable 10- and 20-year term life insurance policies with instant quotes and no medical exams.
18 - 85 years old
10, 15, 20, 25, 30 years
Depends on provider and policy
Compare affordable quotes from 12+ A-rated life insurance companies side-by-side.
Everyday Life
20 - 75 years old
10, 15, 20, 25 or 30 years
Build a customized laddering strategy to target specific financial responsibilities and save on term life.
25 - 60 years old
10, 15, or 20 years
Depends on policy
Get affordable term life insurance with accelerated underwriting or no-exam coverage up to $1,000,000. Available in all states except CA, NY and MT.

Compare up to 4 providers

What are Florida’s leading causes of death?

These are the state’s leading causes of death, according to Centers for Disease Prevention and Control (CDC).

  • Heart disease — including coronary artery disease (CAD)
  • Cancer
  • Accidents — including unintentional injuries and falls, motor vehicle accidents, and accidental poisoning or exposure to fire and smoke
  • Stroke
  • Alzheimer’s Disease
  • Chronic lower respiratory diseases — including emphysema, asthma and chronic bronchitis
  • Diabetes
  • Suicide
  • Kidney disease
  • Chronic liver disease and cirrhosis

Does Florida have any life insurance laws I need to be aware of before applying?

Yes. There are a few laws in place under Title 37 of the Florida Statute that are designed to protect you.

  • The free look period.
    In Florida, any resident purchasing a life insurance policy has at least 10 days to back out and receive a full refund of any premiums paid. Some insurers offer a free look period of up to 14 days, but the law gives you 10 days to change your mind.
  • Timely payment on claims.
    Florida laws don’t specify a time limit to settle on claims. However, life insurance companies are required to add interest to the total benefit, starting from the day they receive a certified copy of the death certificate. In many cases, this motivates them to pay out the death benefit faster, typically within a month.
  • Life insurance policies are guaranteed.
    As long as you pay your premiums, your beneficiaries are guaranteed to receive a death benefit — even if the insurer goes out of business. The Florida Life and Health Insurance Guaranty Association backs all current life insurance policies. The guarantee is capped at $300,000 for a lost death benefit, and $100,000 for a cash value surrender.
  • Laws regarding former spouses.
    There are laws to protect policyholders who failed to change their beneficiary after getting divorced. Under the new laws, ex-spouses will no longer receive life insurance payouts from a deceased ex-wife or husband’s policy. The proceeds will go to the heirs or other beneficiaries listed on the policy.

Bottom line

When you’re shopping around for life insurance in Florida, know that the rates can vary considerably between providers and based on your personal profile.

To make sure you’re getting the best possible deal, compare life insurance providers, policy features and riders and pick the provider that best suits your needs and budget.

Frequently asked questions

More guides on Finder

Ask an Expert

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and Terms of Use.

Questions and responses on are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.
Go to site