The fourth-largest city in the state, Elizabeth, NJ, is the county seat of Union County. Nearly 40 percent of all households in Elizabeth are families with children under the age of 18. If you are an Elizabeth resident who has loved ones or dependents who rely on you, you are strongly advised to consider purchasing an Elizabeth NJ, life insurance policy.
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Life Expectancy Rates in the U.S. and New Jersey
- Overall: United States, 78.6; New Jersey, 79.7
- Men: United States, 76.0; New Jersey 77.2
- Women: United States, 81.2; New Jersey, 81.9
- Caucasians: United States, 78.7; New Jersey, 79.7
- African Americans: United States, 74.3; New Jersey, 75.4
- Latinos: United States, 83.5; New Jersey, 87.0
- Asian Americans: United States, 87.3; New Jersey 91.8
New Jersey is among the best states in the country as far as life expectancy is concerned, and, although cancer is a leading cause of death in Union County, this county has some of the lowest cancer rates in the state. However, despite the high life expectancy, approximately 35 percent of all deaths in the county occur in people under the age of 65. When someone who is still of working age is taken suddenly, those they leave behind can suffer financial, as well as emotional hardships.
Why Consider Purchasing an Elizabeth Life Insurance Policy?
People don't like to think about their own death. If you have youth and relatively good health, you probably don't think about dying. Nevertheless, this is the best time for you to purchase a life insurance policy, as you can do so at a much lower rate than when you are older or when you become ill. The longer you put off purchasing a life insurance policy, the more it will end up costing. Life insurance may not seem necessary now, but it is about preparing for the unexpected. If you have loved ones who depend on you, you need to think about providing for them in the event of a tragedy.
Leading Causes of Death in Union County
- Heart disease, 1,326
- Cancer, 994
- Stroke, 264
- Chronic respiratory disease, 147
- Diabetes, 140
- Accidents or injuries, 126
Having an Elizabeth life insurance policy will provide your family with coverage for your final expenses and, depending on how much coverage you have purchased, may provide enough financial stability to allow your loved ones to maintain their level of living.
Understand the Difference Between Term and Permanent Life Insurance
When selecting an Elizabeth life insurance policy, you will have to choose between term and permanent coverage. Each has its pros and cons, and many people have a strong opinion about which is preferable. In the end, the decision is yours:
- Term life insurance policies: These policies expire after a period, typically 10 to 30 years. This coverage will last only for the duration of the term. Many people prefer term to permanent insurance because it is much less expensive and because they can rely on life insurance coverage at a time when they need it most. For example, a young couple starting a family may purchase a 30-year term life insurance policy with the expectation that by the time it expires, they will have paid their mortgage and their children will have become independent adults.
- Permanent life insurance: These policies, which include whole life and universal life insurance, cost significantly more but will last for as long as you continue to pay your premiums. You have the option to increase your coverage amounts as your needs change. The younger and healthier you are when you begin these policies, the less they will cost as you grow older. Your policy has a cash value that increases over time. You have the option to cancel your policy and receive the cash value or to take loans against the equity you have built up.
How Can You Find the Best Life Insurance Policy?
Without an agent to assist you and answer your questions, making a decision about the type of life insurance policy that is best for you can be difficult. You can count on the help of a local agent, who can provide you with all the information necessary to make an informed decision.
Contact an agent in your neighborhood to obtain a selection of competitively priced Elizabeth life insurance quotes.