Louisville Life Insurance
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.
If you are like most Louisville residents, you are setting life goals instead of thinking about the end of your life. Louisville is a bustling town with plenty of day and night events, and indoor and outdoor activities, so it is easy to let your mind occupy happier thoughts. Of course, eventual death is unavoidable. For most, it comes when they are old and have lived a full life, but for some, it is unexpected and tragic. By securing a Louisville, KY life insurance policy, you can ensure that your family will be taken care of financially in the event that you pass away unexpectedly.
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Louisville Health: Strengths and Risks
In a recent health assessment conducted by the Kentucky Institute of Medicine, various behavioral and social factors, as well as health outcomes and death rates, were examined. In Louisville and surrounding areas, residents excel in some areas but face risks in others:
- Strengths
- Lower-than-average smoking rate
- Good rate of physical activity
- Good rate of oral-health maintenance
- Residents tend to be well-insured
- Low rate of cardiovascular-related deaths
- Risks
- High obesity rate
- High number of residents with diabetes
- High instance of lung and bronchus cancers
- High rate of breast cancer
- High rate of prostate cancer
- High number of residents diagnosed with infectious diseases
Louisville Life Insurance Options
For many people, making the decision about what type of life insurance to purchase is the most difficult part of buying a policy. There are two basic types of Louisville life insurance, but each has variants and hybrid policies that are available. A qualified independent insurance agent can discuss your many options with you in greater detail.
- Term life insurance: This policy is effective only for a certain number of years, or a term. You select a death benefit amount and premiums are fixed for the life of the policy. This is the most affordable way to get a high amount of coverage during the years that you need it most.
- Permanent life insurance: This policy is effective for your entire life or until you reach age 100, so long as you continue to make payments on your premiums. It has an investment component that allows tax-free cash-value accumulation that you can collect at any time. There are two main types of permanent life insurance:
- Whole life insurance
- Universal life insurance
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Why Is Louisville Life Insurance Important?
Although you have no legal obligation to purchase life insurance as you do for auto, homeowners, and, in recent years, health insurance, it is a wise investment. While you may never see the benefits of a policy, it can be comforting to know that you have the means to protect your dependents financially if you should pass away. Louisville life insurance provides your named-beneficiaries with a cash benefit at the time of your death that can be used to cover many things, among them:
- Income replacement: If you are the main income earner and you died tomorrow, how would your family manage? Or, if you are the main caretaker of the children and you passed away, could your spouse afford full-time childcare? A life insurance policy may be able to provide the funds needed to carry on in your absence.
- Funeral costs: As individuals age, estate planning becomes a necessity. Wills and final wishes are important, but funeral costs are a reality and can be surprisingly expensive. A Louisville life insurance policy can help cover this expense as your family grieves.
- Future expenses: Once you have passed away, your family will continue to grow. Life insurance benefits can help pay for your children or grandchildren’s college tuition or can be used to pay off the rest of your mortgage so your spouse can afford to stay in the family home. Life insurance can also be used to pay off school loans and credit card debt.
Get Help Securing the Right Louisville Life Insurance Policy
Choosing a policy can be difficult if you do not understand how the different types of plans can benefit you. Our agents can answer your life insurance-related questions and explain in detail the pros and cons of each coverage type. They can also help you determine your coverage needs and decide on the right coverage amount. You can trust your independent agent to be an unbiased source of information. Independent agents, unlike “captive agents” who work only for one specific company, can use multiple resources to find you a variety of competitively-priced Louisville life insurance quotes.
Contact an agent in your neighborhood today to learn more about your life insurance options.