Paterson, NJ, is the third most populous city in the state. The residents of this city lay claim to a variety of different nationalities and cultural differences, but one thing all have in common here in the Silk City is the desire to provide for their families. One of the best ways to ensure your family’s security in the event that something should happen to you is through a Paterson, NJ life insurance policy.
Number of Deaths in Paterson by Age Range
- Ages 25 to 44: 119
- Ages 45 to 64: 263
- Ages 65 to 84: 395
- Ages 85+: 192
Life expectancy in New Jersey is 72.2 for males and 78.6 for females. While the majority of Paterson’s adult residents who passed away in 2000 were over the age of 65, nearly 40 percent lived lives that were much shorter than the expected lifespan. You want to make sure you lock in rates on life insurance now while you are young and healthy. The longer you wait, the more expensive a policy will be. If you have dependents who look to you for financial support, you should secure their future by providing for them if anything should happen to you.
5 Leading Causes of Death in Paterson
- Heart disease, 294
- Cancer, 223
- Stroke, 55
- HIV/AIDS, 49
- Diabetes, 40
You can do many things to increase your chances of living a long and healthy life, such as eating healthy foods, getting plenty of exercise and not smoking. Not every illness or accident is unavoidable, however, so in the off chance something bad should happen to you, you can have peace of mind knowing that you have a Paterson life insurance policy in place for the protection of your loved ones.
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The Different Types of Paterson Life Insurance
There are many different types of insurance policies available on the market. Deciding which is best for you is dependent on your life situation, finances, and personal preference.
- Term life insurance: This is typically the least expensive type of life insurance. You purchase term insurance for a certain term, usually 10, 20 or 30 years. It provides death benefits to your beneficiary if you should pass away during the policy period. This policy has no cash value, and, once it expires, it is not renewable at the same rates.
- Whole life insurance: This permanent life insurance increases in cash value over time. You can cash in this policy at any time, or let it build up to serve as a payout to your beneficiaries upon your death. These policies are significantly more expensive than term life insurance policies.
- Universal life insurance: This flexible policy combines term and whole life insurance. It accrues a cash value that you can borrow on or let accumulate. You may elect to pay more than your scheduled premiums if you wish, and you can use your accumulated earnings to cover your premium costs when necessary. These policies typically cost more than term insurance but less than whole insurance.
How Can You Find the Best Life Insurance Policy?
Deciding which Paterson life insurance policy is best for you is a personal decision, but you can make the most informed choice when you clearly understand your options. An independent insurance agent in our network will be happy to get you multiple insurance quotes, answer all your questions and ensure that you fully understand how each type of policy works.
Contact an agent now for more information, and receive a variety of Paterson life insurance quotes that fit your needs and budget.