When you’re surrounded by friends and family, it’s hard to imagine how death can change the dynamic of your relationship. Sunday BBQ’s and skiing with the family makes you wish that those days will never end. While many of us tend to prepare ourselves for the deaths of elderly members of our family, rarely do we like to entertain the thought of ourselves dying prematurely. Nobody predicts being in an accident or having a disease. When that happens, protect the ones that you love the most by purchasing a Manchester, NH life insurance policy. Although purchasing life insurance may not be as fun as your weekly cookout, it can be a critical step to preserve the quality of life your family holds dear.
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- Manchester has a higher heart disease death rate than the state or the nation.
- 10% of New Hampshire deaths occur in Manchester.
- During previous years, there were 2,916 deaths in the city.
- Unintentional injuries are the 6th leading cause of death.
- Suicide is the 9th leading cause of death.
When Should I Purchase Manchester Life Insurance?
Anytime is a good time to purchase life insurance. While many young people don’t consider a life insurance policy as necessary, it’s a great time to lock in low rates because you’re healthy. You present less of a risk to the insurance company. Also, if you died tomorrow, would you leave any debt behind? Many college graduates enter the workforce with mountains of student debt, which must be repaid whether they're dead or alive. Life insurance can help your parents pay off of your loans and pay for funeral services.
On the other hand, if you’ve waited longer to purchase a policy, that’s okay too. If you now have a family, house, and job, it’s definitely time to purchase a life insurance policy. It can help keep your family in the house and pay for bills. It’s ideal for contributing to a future college fund. The benefits of your life insurance policy can be used in many ways. The sooner you purchase a policy, the better.
Manchester Life Insurance Policies
When you finally decide to purchase life insurance, you’ll have two options:
- Term life insurance: This policy is affordable and is valid for a certain amount of time. You select how long the policy should be active - anywhere from 5 to 30 years - and you also select the death benefit, which can range from $5,000 to $1 million. There are several other options for the life of the policy. Once it’s expired, you can choose to renew it. This is a flexible product and easy to obtain.
- Permanent life insurance: This plan is more expensive because, in addition to death benefits, it also includes an investment component. There are two types of permanent life insurance policies:
- Whole life insurance
- Universal life insurance
Both plans will last for your entire lifetime (or until age 100) but one has a more risk-based investment strategy. Cash accumulates (tax-deferred) over the life of the policy. Upon your death, these benefits can be distributed out according to your wishes or with the death benefits simply transferred to a beneficiary where it will continue to build interest.
If you’re interested in comprehensive estate planning, a permanent life insurance policy is best for you. While each type of life insurance policy has different benefits and can potentially meet your needs and goals, they both provide for your family upon your death. The right life insurance policy can help ensure that those you care about will continue to be cared for.
Contact a local independent agent in our network today to get the help you need to select a Manchester life insurance policy that’s right for you.