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Florida's Life Insurance Rate Below Average, Survey Finds

A new AAA survey found that half of Floridians don't have life insurance.
AAA
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A new AAA survey found that half of Floridians don't have life insurance.

About a fifth of Floridians are over the age of 65.

But instead of planning for final expenses, a recent AAA survey found half of Sunshine State residents don’t have life insurance.

Myths about coverage could be driving the low enrollment.

AAA spokesman, Josh Carrasco, said Florida has a below-average rate of people with life insurance.

“I think a lot of people just get caught up with, I mean I know in my situation, you get caught up with the month to month or week to week paycheck situation,” Carrasco said. “Just trying to keep the bills paid and not really thinking ahead.”

He said many seniors don't think there’s a point to purchasing life insurance at an advanced age.

But President of Orange Park-based First Florida Underwriters, Mark Hart, says life insurance can leave surviving family members in a better position, no matter when it’s purchased.

“It means you don’t have to make the tough decisions right now because you need the money right now or you can’t pay the mortgage on the house and it will go into foreclosure,” Hart said. “Having the cash settlement from the life insurance buys you time.”

Hart said the extra time can help family members grieve properly.

AAA surveyed people in 11 states, most with life insurance rates above 60 percent.

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Ryan Benk
Ryan Benk is originally from Miami, Florida and came to Tallahassee to attend Florida State University. He worked on Miami Dade College’s Arts and Literature Magazine- Miamibiance Magazine and has published poetry and a short film called “ The Writer.” He’s currently working as the Newsroom’s Researcher while finishing his Creative Writing Bachelor’s Degree at Florida State University. When he’s not tracking down news, Ryan likes watching films, writing fiction and poetry, and exploring Florida.
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