Like most Midwesterners, Hoosiers place a lot of value on family and responsibility. One of the best ways you can ensure that your loved ones are cared for if you unexpectedly pass away is carrying life insurance coverage. There are many different types of life insurance, so it can be a daunting task to choose the best policy. An independent insurance agent can help you sort through the options. Because they have relationships with several different insurance companies, independent agents can help you compare several Indiana life insurance quotes. Find a local agent today to get started.
- Overall: United States, 78.6; Indiana, 77.77
- Men: United Sates, 76.0; Indiana 75.0
- Women: United States, 81.2; Indiana, 80.3
- Caucasians: United States, 78.7; Indiana, 77.9
- African Americans: United States, 74.3; Indiana, 73.6
- Latinos: United States, 83.5; Indiana, 80.6
- Asian American: United States, 87.3; Indiana 83.7
The most important time to buy life insurance is when you have a young family. A life insurance policy can provide financial security in the event that you pass away unexpectedly. If you are young and in good health, it is still a good idea to evaluate life insurance, because you can lock in a low rate. The younger you are when you buy your policy, the more affordable it will be.
Top 5 Causes of Death in Indiana
- Cancer: 199.3 deaths per 100,000 people; ranks 9th among states
- Chronic Respiratory Disease: 54.1 deaths per 100,000; ranks 8th among states
- Stroke: 50.4 deaths per 100,000; ranks 19th among states
- Accidents or Injuries: 38.9 per 100,000 people; ranks 31st among states
- Diabetes: 26.7 deaths per 100,000; ranks 14th among states
Life insurance can prepare you for the unexpected. Choosing the type and amount of life insurance you want depends on a number of factors. For example, if you are married, you might want to consider the cost of living for your spouse and the costs he or she would face without your income. If you are a parent, you want to consider the costs of living as well as the costs of future education for your children. You can configure your life insurance policy however you choose. For example, you can simply provide for your final expenses, or you can provide your family with the financial stability to maintain their current standard of living. Your policy may also provide you with a sum of money that you can use for retirement expenses or in the event of financial hardship.
Types of Life Insurance
There are several different types of insurance policies on the market. The option that is best for you is dependent on your unique needs. Below are a few examples of life insurance policies available to you in IN, but there may be other options you can choose from. Speak with your independent agent to learn more.
- Term life insurance: This is usually the least expensive type of life insurance policy. It can be purchased for a certain term, such as 10, 20 or 30 years, and will provide death benefits to your beneficiary if you pass away during the term. This policy has no cash value.
- Whole life insurance: This is a type of permanent life insurance policy that invests your premiums and builds up a cash value. It can be cashed in at any time or built up to serve as a payout to your beneficiaries upon your death. These policies are more expensive than term life insurance due to the investment portion of the policy.
- Universal life insurance: This is a flexible policy that combines term and permanent life insurance. It accrues a cash value you can borrow against. You can also pay more than your scheduled premiums or use your accumulated earnings to cover your premium costs when necessary. Like whole life, these policies cost more than term insurance due to the investment portion.
How Can You Find the Best Life Insurance Policy?
Without an agent to assist you and answer your questions, it can be very difficult to choose the type of life insurance policy that is best for you. An independent agent in our network can help you make an informed choice. These agents work with several different insurers and can help you find the right Indiana life insurance for your needs and budget. Each agent in our network has taken a pledge to provide exceptional customer service and honest, ethical advice. Your local agent can explain the various types of life insurance in detail and can help you decide which is best for you.
Find an agent in your neighborhood to compare a variety of Indiana life insurance quotes.