Rochester
Find the right life insurance policy for you.
Written by
Ann Herro has been writing about insurance and employee benefits for over 15 years. She has covered topics as easy as insuring a car, and as difficult as transparency in healthcare costs.
Health management is part of the fabric of life here in Rochester, home of the Mayo Clinic. Consider the advice of The Minnesota Department of Commerce, which is to get life insurance coverage in place in addition to managing your health, especially if your family members depend on your income.
This is because one of the primary reasons to have a life insurance policy is to cover your family’s living expenses if you are suddenly and unexpectedly not around to provide for them. The first step is to determine how much coverage you need and figure out what type of policy makes sense for you. An independent Rochester, MN life insurance agent can help.
To learn about the different types of life insurance available and get the help you need to choose the right amount of coverage for you, simply contact a member agent in the Trusted Choice® network. One of these agents can provide the information you need to evaluate available plans and compare several different Rochester life insurance quotes.
- An estimated 40% of Americans do not have individually purchased life insurance
- An estimated 50 million Americans lack adequate life insurance coverage
- Less than half of young families have individually purchased life insurance on either spouse
While many Americans have life insurance from a group policy benefit at work, it may not be adequate to cover your family’s needs. Be sure to find out whether you can take your group life insurance policy with you if you switch jobs and have a new employer. Many people buy two different life insurance policies that have different features, benefits and costs. This can be an excellent strategy to make sure you cover the bases.
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What Is the Best Kind of Rochester Life Insurance?
There is not one best type of Rochester, Minnesota life insurance policy for every person or family. The most appropriate choice for you will depend upon how much coverage you want, and what you want your policy to do for you. A young family with a new mortgage and growing children has very different needs than an older couple whose kids that are already grown.
The three basic types of coverage include the following.
Term life insurance: Provides coverage for the duration of the term, usually between 1 and 30 years. Because it is temporary and only intended to provide benefits if you die within the specified term, it is usually the cheapest choice.
Whole life Insurance: A traditional form of permanent life insurance that provides coverage and remains in force as long as you are paying the premium. It also accumulates a cash value, which means it provides both an investment vehicle and a death benefit.
Universal life insurance: A newer form of permanent life insurance that provides similar benefits to whole life, but is more flexible. For example, in some cases the premium and the death benefit can be changed while the policy is in force.
Rochester Life Insurance Costs
Your own premium will depend upon many individual factors, including your age at the time you buy your policy, your health status and the amount and type of policy you buy. You will have many choices to make in selecting your policy and the amount of coverage you want, which means of course that your budget will factor into the type of Rochester life insurance you purchase and the resulting premium.
All told, the various factors such as your age and health can mean that your costs range anywhere from about $30 per month to $1,000 a month or more. This is one of the primary reasons to seek help and advice from an independent agent in the Trusted Choice network. Finding the right policy for you requires a complete assessment of your needs, goals and budget.
The choice of insurer also matters. Every insurance company quotes differently and rates individuals by unique metrics. A local independent agent can help you figure out how much coverage will be right for you and your family and compare insurance companies and options.
Compare Rochester Life Insurance Quotes
You can quickly and easily shop for different policies and compare insurance companies through an independent agent in the Trusted Choice network. One of these local agents, right here in Rochester, can help you select the best choice from top rated insurers. Your agent will listen to your needs and preferences, answer your questions, and help to ensure that your selection matches your life insurance goals.
Contact a Trusted Choice member agent today to compare Rochester life insurance quotes and make the right choice for yourself and your family.