Lafayette Life Insurance

Find the right life insurance policy for you.

Ann Herro, Insurance Expert Written by Ann Herro
Ann Herro, Insurance Expert
Written by Ann Herro

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.


Lafayette is the bona fide capital of everything Cajun. From the Cajundome, which hosts the Ragin’ Cajuns men’s basketball team, to the Acadian Village, you can find the influence of Lafayette’s unique history throughout the town. The residents of this vibrant Louisiana city understand the importance of family values and caring for loved ones. That is why many choose to protect their family’s financial future with a Lafayette, LA life insurance policy. An independent insurance agent from the network can guide you through getting the best policy for you and your loved ones. 

Life Expectancy Rates: How Lafayette Compares

  • Life expectancy in the United States: 78.61
  • Life expectancy in Louisiana: 75.39
  • Life expectancy for Louisiana males: 72.17
  • Life expectancy for Louisiana females: 78.57
  • Life expectancy for males in Lafayette Parish: 73.5
  • Life expectancy for females in Lafayette Parish: 79.2

Why Should I Purchase Lafayette Life Insurance?

If something were to suddenly happen to you, such as an accident or a serious illness, your dependents might not have the funds necessary to stay in the family-home, attend college or even keep food on the table. Life insurance can protect your family’s financial stability by providing them with a death benefit in the event of your untimely passing.

Even if you have no dependents, you may want to purchase a small policy that will enable those you leave behind to adequately settle your estate and cover your funeral costs. These days, the average funeral in the United States costs about $6,000. Can your family afford that? When you purchase a life insurance policy, you will need to choose between permanent life insurance and whole life insurance. Each provides different advantages and disadvantages so you may want to discuss your options in detail with an insurance professional or a financial advisor before making a purchase.

What Is Permanent Life Insurance?

A permanent Lafayette life insurance policy enables you to lock in a low rate on your life insurance while you are young and healthy and then keep that rate for the remainder of your life. Unlike term policies, permanent life insurance policies will remain in effect for as long as you continue to make payments on your premiums.

These policies have the added benefit of including an investment component. Your policy will accrue a cash value over time so that if you close out your policy prior to your death, you can collect its cash value. Some insurance companies will even permit you to take out low-interest loans against your policy’s cash value. There are two main types of permanent life insurance policies and many hybrids exist for each so it is important to find out what your prospective insurance companies offer with their life insurance plans. The two policy types you should be familiar with are:

  • Whole Life Insurance: Premiums for this plan will remain at a steady rate for the life of the policy. Your cash-value account accumulates interest at an equally steady rate.
  • Universal Life Insurance: These plans are far more flexible and may permit you to change coverage amounts over the life of your policy. Your cash-value account accumulates interest at a variable rate.

Permanent life insurance is a good choice if you are still rather young and healthy. Rates for this type of policy may be unaffordable once you hit middle-age. If you are interested in a permanent life insurance policy, speak with an insurance professional so that you can fully understand the terms of each of the policies you are considering.


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What Is Term Life Insurance?

If you are looking for an affordable Lafayette life insurance policy that can provide a large amount of coverage for your family, a term policy may be your answer. Far less expensive than permanent life, these policies are purchased for a specific amount of time, known as a term. Once the term is up, the policy expires. If you still want life insurance coverage at that time, you will need to purchase a new policy, and it will likely come at a much rate.

If you pass away during the course of the term, your beneficiaries will receive funds in the amount of coverage that you purchased. Most people buy term insurance with the expectation that once the policy expires, their family will no longer have the need for a large death benefit. If you purchase a 30-year term policy at the time you buy your house, you can assume that once the term expires, the house will be paid off. 

If you buy a 25-year term policy after your children are born, you can expect that by the time it expires, they will have established themselves as independent adults and will no longer rely on you for income. Unlike whole life policies, term policies have no cash value, so if you cancel your policy before the term is up, you will receive nothing back.

Start Comparing Lafayette Insurance Quotes Today

If you are interested in investing in a Lafayette life insurance policy but are not sure where to start, you can call a member agent in our network for guidance. These independent agents have all signed a Pledge of Performance in which they have vowed to provide their customers with exemplary service and honest, ethical advice. Your agent will be available to answer your many insurance-related questions and can assist you in assessing how much coverage is sufficient to protect your loved ones. These agents can also work with several different insurance companies to help you find a policy that meets your coverage and your budgetary needs. 

Find an agent with an office near your today to get started.

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