Jersey City Life Insurance
Find the right life insurance policy for you.
Written by
Ann Herro has been writing about insurance and employee benefits for over 15 years. She has covered topics as easy as insuring a car, and as difficult as transparency in healthcare costs.
As the second-most populous city in the state and county seat of Hudson County, Jersey City, NJ, is home to an extremely diverse population that includes many different nationalities, cultures and income levels. One thing that residents of this city hold in common, however, is the desire to care for family. About 37 percent of the households here in Chilltown include children under the age of 18. If you care for your family, it is particularly important that you consider a Jersey City, NJ life insurance policy.
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Top Causes of Deaths in Hudson County
- Heart disease, 222.6 deaths per 100,000 residents
- Cancer, 159 deaths per 100,000 residents
- Diabetes, 35.9 deaths per 100,000 residents
- Chronic respiratory diseases, 24.7 deaths per 100,000 residents
- Accidents and injuries, 21.9 deaths per 100,000 residents
- Influenza/Pneumonia, 19.4 deaths per 100,000 residents
- HIV/AIDS, 13 deaths per 100,000 residents
Most people do not spend too much time worrying about their own death. If you are young and healthy, it is probably the last thing on your mind. However, the younger and healthier you are when you purchase a life insurance policy, the less it will cost you to be insured when you are older and need it most.
Why Consider Jersey City Life Insurance?
Some people may wonder why they would need insurance coverage after they’ve passed away. Life insurance settlements, however, are for the benefit of those you leave behind. If you are married or have children, you need to consider how they would fare financially if you were gone. A life insurance policy can ensure that your family will be able to stay in their home, that your children will be able to afford to go to college and that your spouse will have the financial security necessary to avoid bankruptcy and ruin.
Recent Hudson County Death Statistics by Age
- Under 25: 117
- Ages 25 to 34: 80
- Ages 35 to 44: 195
- Ages 45 to 54: 360
- Ages 55 to 64: 484
- Ages 65 to 74: 739
- 75 and older: 2407
The vast majority of Hudson County residents live past the age of retirement, and chances are you will too. However, accidents and unavoidable illnesses sometimes happen; they are unavoidable. It is best to protect your family from such possibilities with a life insurance policy that will allow them to maintain their financial stability in the wake of a tragedy.
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Term vs. Permanent Life Insurance
When selecting a Jersey City life insurance policy, you will have to choose between term and permanent coverage. Each has its pros and cons.
- Term life insurance: Term life insurance policies typically have a term of 10 to 30 years. The coverage lasts only for the life of the term, and once the term is expired, the policy is no longer in effect. Many people prefer term to permanent life because term insurance is less expensive, yet it will provide insurance coverage at a time when it's needed most. For example, a young couple starting a family may purchase a 30-year term policy. By the time it is expired, the couple may have paid off their mortgage, and their children should no longer need financial support. However, the couple can rest assured that if something happens to one of them while the family is still young, the coverage is available.
- Permanent life insurance: Permanent life insurance policies, which include whole life and universal life insurance, do not expire. The younger you are when you begin these policies, the less they will cost as you grow older. These policies typically allow you to raise your coverage amounts several times as your needs change. These policies build in cash value and can be closed and cashed in at any time.
How Can You Find the Best Jersey City Life Insurance?
Choosing the best Jersey City life insurance policy to meet your personal needs can be tricky. Fortunately, you can rely on the honest and ethical help of an agent. Your local independent agent can help you determine your coverage needs, get you quotes from multiple insurers and review the pros and cons of each of your options so that you can make an informed decision before making a purchase.
Contact an insurance agent today for a selection of Jersey City life insurance quotes before making your purchase.