The Saintly City, as some like to call St. Paul, is bustling with life and a broad demographic, from young University of Minnesota students to retirees who winter in the southwest. Regardless of your age and profile, you most likely have a good reason to consider life insurance. While some people believe you don’t need life insurance until you have dependents, there are actually many reasons to consider it at any age. Covering your student debt burden is one reason, for example. Another is locking in the best possible rates while you are young and healthy.
Life insurance is fairly complex, and choosing the right policy can be a fairly daunting task. However, an independent agent in the Trusted Choice® network can provide the help you need. One of these local agents can help you determine the best policy for you and select the right coverage amount for your goals. Contact a local independent agent today to compare multiple St. Paul, MN life insurance quotes and protect your finances.
Facts about Life Insurance
- Estimated percentage of Americans without individually purchased life insurance: 40%
- Estimated number of Americans without adequate life insurance: 50 million
- Less than half of young families have individually purchased life insurance on either spouse
Many families, especially young families, lack proper coverage. While group life policies can provide security, they may be lost if the employee changes jobs. You can discuss affordable life insurance options with a local Trusted Choice member agent.
Kinds of St. Paul Life Insurance
The two broad choices are term life and permanent life insurance policies.
- Term life insurance lasts for the length (term) of the contract. This term is typically anywhere from one to 30 years.
- Permanent policies, such as whole life and universal life, will stay in force as long as you continue to pay your premium, or if you have completed a payment schedule. Permanent policies also have an investment portion that accumulates cash value.
Because term is considered temporary life insurance, and only pays out a death benefit, it is almost always cheaper. Permanent policies cost more because a portion of your premium goes to growing the monetary value.
Some families choose to purchase a larger term policy for current needs and a smaller permanent policy for the future. The best choice for you will depend on your budget, financial goals, circumstances and personal preferences.
St Paul Life Insurance Costs
In order to estimate your life insurance premiums, an insurance company needs to know a few things about you. To provide this information, you will typically need to take a health exam, complete a questionnaire or both
Ultimately your costs will depend on your age, general health, and the type and amount of coverage you buy. A term policy for someone who is young and in good health can be as low as $25 to $30 per month, for example, while a permanent policy for someone in middle age might be $1,000 per month or more.
Some professions may make you more expensive to cover because they are considered risky. For example, if you are an underwater welder and work on the area’s Mississippi river bridges, your costs will be higher than if you work in sales and marketing at the State Fair office.
Compare St. Paul Life Insurance Quotes
A local independent agent in the Trusted Choice network can provide unbiased information on St. Paul life insurance options, and help you compare a variety of different insurers and rates. These agents have signed a pledge of performance committing to excellent customer service. Your agent will get to know you and help you compare St. Paul life insurance quotes and options that suit your needs.
Contact a local member agent in the Trusted Choice network today to get started.