Good friends and family are the cornerstones of a happy life, so it’s hard to imagine a time when they gather and you aren’t present. You can never prepare for the death of a friend and the emotions that come with it, but there are sensible ways to plan for your own death. With a little planning, you can leave a legacy and not a mess. Investing in Jackson, MS life insurance is a great way to provide for those closest to you.
Purchasing life insurance is a serious decision. It’s okay to take your time when trying to find the right plan, but if you aren’t sure where to start, contact an independent insurance agent in our network. Your independent agent can compare multiple policies and Jackson life insurance quotes to find coverage that fits your budget that fits your needs. Find an insurance agent today to get started planning for tomorrow.
5 Leading Causes of Death In Jackson, MS
- Motor vehicle accidents
- Fire and burns
- Fire-related deaths, which are higher in Jackson than other U.S. cities
When Should I Purchase Jackson Life Insurance?
Life insurance isn’t required by law, so many feel they can go without purchasing policies and save the money they'd spend on life insurance premiums. You might be hesitating on your life insurance purchase because you're unsure when the best time to buy is. The fact is, there isn’t a bad time to purchase coverage; it's never too soon nor too late. Of course, the younger you are when purchasing it, the cheaper it will be. When you’re young and healthy, you pose less of a risk to insurance companies, prompting sometimes drastically lower rates than you'll find if you wait to buy until you're 40 or 50 years old.
If you’re just now starting to think about buying life insurance and you’ve established a family and career, it's probably an optimal time to buy coverage. If you died tomorrow, how would your dependents care for themselves? A life insurance policy can help pay for funeral expenses, as well as other things that must still be paid after your death, like a mortgage or car payment. Perhaps most importantly, Jackson life insurance can prevent your loved ones from bearing large financial burdens on their own if you passed.
Types of Jackson Life Insurance
You have two main options when it comes to purchasing life insurance:
- Term life insurance: This is an affordable policy that provides coverage for a certain period of time. Policy periods vary from 5 to 30 years. You receive a death benefit with the policy and you select an amount that you think would be appropriate. It can range from $5,000 up to $1 million. If you die during the policy period, the death benefit is paid to your beneficiaries.
- Permanent life insurance: This plan works in a similar fashion to term life insurance, but is slightly more expensive because it has an investment option. In addition to the death benefit, you also have an account that accumulates cash value with a tax-preferred status. There are two types of permanent life insurance:
- Whole life insurance: This plan has a steady premium rate and the rate of return on your cash value account is consistent.
- Universal life insurance: This plan is based on the market and can be considered risky because your rate of return fluctuates, but you also have more flexibility with your cash and premiums.
Finding Affordable Jackson Life Insurance Quotes
If budget is one of your main concerns, purchasing a term life insurance policy may be your best option. You can always convert it to a whole life option later. Both plans provide financial benefits to those you love the most. Whether you’re purchasing a Jackson life insurance now or in several years, don’t forget to contact an independent agent in our network for assistance. An independent agent can help you assess your personal situation and find an affordable policy that meets your needs.
If you’re ready to prepare for the future so you can have peace of mind today, contact an independent agent in your local area.