Sterling Heights Life Insurance

Sterling Heights is home to around 132,631 Michigan residents who live in a working-class suburb of Detroit. The median age for Sterling Heights residents is 39 years old, a good portion have life partners (3.8%), and even more (69.8%) are raising a family. 

Whether you’re one of the Sterling Heights citizens who's busy taking care of a spouse and children, or you’re someone settling into those blissful retirement years, you may be considering Sterling Heights, Michigan life insurance to protect your loved ones and your financial stability. 

Picking the right insurance can be a confusing task, whether you're looking for life insurance, homeowners insurance, or auto coverage. The great news is you don’t need to do it alone. Independent agents in Sterling Heights can help you figure out the best life policy for you and your loved ones. Find an insurance agent near you to learn more.

Sterling Heights, Michigan Mortality Statistics

The average life expectancy in the US is 78.6 years. In the state of Michigan, these are the most common causes of mortality each year. 

Reasons for Sterling Heights, Michigan Residents to Have Life Insurance

The main reason Sterling Heights residents should consider buying a life insurance policy is to provide financial support to their family should they pass away. Have you ever really thought about how your family would cope if you were no longer around to contribute financially? Would your spouse be able to cover the mortgage, car payments, and medical insurance? How would your children pay for their education? 

Sterling Heights, Michigan Financial Stats

Almost every American has some debts that will remain outstanding even after they’ve passed. It’s a popular myth that once you're gone then any money you owe is erased. Your survivors will inherit these debts and they’ll be expected to pay down your car loan, credit cards, and other costs. Plus, your loved ones will need to pay for funeral expenses and any accumulated medical bills still due after a long illness. 

Average American Funeral Expenses

Life continues for your survivors, so it’s vital you leave them a life insurance policy that will ease their financial burden. 

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Types of Life Insurance Policies

Life insurance coverage is available in two basic versions. These are the two most popular types: 

Permanent Life Insurance Explained

A permanent life insurance policy provides death benefits, as well as a savings/investment feature. Permanent life coverage is more expensive than a term life insurance plan because of the added investment components.  

This type of life insurance comes in two formats: 

Permanent policies are meant to last a lifetime, which may be obvious based on the coverage name. Yet the cash value that grows on a tax-deferred basis on your permanent life policy can be used for things like paying future premiums, receiving dividend payouts, or borrowing a personal loan against the policy’s value. You can talk with an experienced independent agent in the Sterling Heights area for more information. 

Term Life Insurance Explained

Term life insurance plans are the most popular types of coverage because of their affordable pricing and simple design. You normally buy this life protection for blocks of time like 5, 10, 20, or 30 years. You can also buy term insurance to cover you to a specific birthday like age 55 or 65. Unlike a permanent policy, term life is only meant for death benefits and doesn’t have any type of savings benefit. 

Once your policy’s term is about to expire, you get the option of renewing the term coverage or converting it to a permanent life insurance plan. 

There are three different term life policies: 

Talking with a local insurance agent can help clarify the different types of term life insurance and how each may benefit you and your loved ones. You can also talk with an independent agent about other coverages, like business insurance. 

Selecting the Best Sterling Heights, Michigan Life Insurance Policy

Most life insurance companies will ask you to complete a medical questionnaire that includes you and your family’s medical history. You may also need to go through a physical examination to check on your current health status. Life insurance coverage that doesn’t ask many questions and doesn’t ask for a medical exam is typically less expensive but also has fewer protections (e.g., low face amount, short term, exclusion riders).  

Once you know which life insurance is best for you and your loved ones, you then must figure out the death benefit amount that’s best. This dollar amount should take into consideration your current financial needs and any future needs. What things should you consider when buying life insurance? 

Get Help from a Sterling Heights, Michigan Insurance Agent

An independent insurance agent in Sterling Heights can find you the best life insurance policy for you and your family. The agent can get a variety of life insurance quotes from different companies. Your local agent will go over the quotes and policy terms, answering all your questions and clarifying all the information. Before you commit to a life insurance plan, your independent agent will be sure you feel confident in your choice. 

Contact an independent insurance agent today for help selecting a Sterling Heights life insurance plan. Your loved ones will be so grateful that you did.