Dorchester Life Insurance

Your Complete Guide to Dorchester, MA, Life Insurance

(Find the right life insurance policy for you)

Fifty-four percent of American adults have life insurance and 27% of that group say that they do not have enough coverage. It is important to make sure that the ones you care about are financially ready to support themselves in case of a sudden death. Dorchester residents can trust that their loved ones will be cared after in an unexpected passing by purchasing a life insurance policy.

A life insurance policy in Dorchester is made easy when you use an independent insurance agent. A local agent will guide you through the many different coverage options and policy types available for you, so that you can be sure to make an informed decision. Connect with an insurance agent in Dorchester to get started.

What Can Dorchester, Massachusetts, Life Insurance Do for You?

With accidents as the third leading cause of death in Massachusetts, it is crucial to make sure that you have a policy in place so your loved ones will be taken care of.

The ones you care about can focus on healing, while your life insurance policy will secure them financially. Your policy will provide coverage for things such as:

  • Covering the funeral and burial costs
  • Paying off accumulated debt
  • Donating to your favorite charity
  • Paying for a dependent's college tuition or mortgage

If you purchase a whole life policy, you can use acquired funds at any time if you need to recover lost earnings or cover financial burdens such as rent, mortgage, loans, or any other debts.

Reasons to Have Life Insurance in Dorchester, MA

In the event of a sudden passing, a life insurance policy is an important purchase for Dorchester locals to protect their loved ones from financial burdens. This investment is extremely beneficial for new families, homeowners, and anyone who is relying on you monetarily.

Most importantly, the younger and healthier you are, the less expensive a life insurance policy will be. It is recommended to purchase this policy while you are still young so that the rate is affordable, because the older you are, the more health risks you have.

Dorchester, Massachusetts, Mortality Statistics

The average life expectancy in Dorchester is 79 years, which is about a year longer than the national average of 78.5 years. The state of Massachusetts is rated as the sixth in the nation for life expectancy, meaning that residents on average live longer than those in almost every other state. The top five causes of death in Massachusetts each year:

1.Cancer: 12,934 deaths

2. Heart disease 12,140 deaths

3. Accidents: 3,821 deaths

4. Chronic lower respiratory disease: 2,842

5. Strokes: 2,367 deaths

Average Funeral Costs

  • Cremation with no memorial service: $2,000
  • Cremation with a traditional funeral service: $10,000 to $12,000
  • Burial with a memorial service: $10,000
  • Burial with a traditional funeral service: $15,000

These days, the average funeral can cost upwards of $15,000. It’s significant to make sure that your loved ones are left with a life insurance policy that will help them through this expense.

Types of Life Insurance Policies

There are two major types of life insurance policies available known as term life insurance and permanent life insurance.

Term Life Insurance

Term life insurance is a great place to start if you do not currently have life insurance. This policy is the less expensive option and is designed to provide coverage during times that you really need financial security. This policy is typically chosen by new families or people who have just bought a house.

Term life is available in varying time periods and is flexible with your changing needs. However, at the end of your term, you will no longer have the policy and will have to purchase a new policy. If you are older or sick, you may find it difficult to acquire affordable coverage within this policy.

Permanent Life Insurance

Permanent life insurance is an umbrella for different types of life insurance policies that never expire. These policies include:

Whole life insurance: This policy is paid out to the beneficiary or beneficiaries upon the insured’s death. In addition to being covered your whole life, it also contains savings where cash value may accumulate. The policyholder can access this cash while alive if needed.

Universal life: This policy is characterized by its unbundled pricing structure and flexible premiums. Anytime you make a payment towards this policy, part of it goes into an investment account and you receive the interest. This policy is paid out to the beneficiary or beneficiaries upon the death of the insured.

Get Help from a Dorchester, MA, Insurance Agent

A local Dorchester independent agent can help guide you through various options and answer your life insurance questions. Your agent will compare numerous rates from multiple insurance companies to guarantee that you get the best policy. Contact a local independent agent in Dorchester to get started.

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