Here at InsureMe, we realize that Rhode Island life insurance is a difficult, yet important component of your financial security.
Our goal is to simplify your shopping experience. In fact, we'd like to do the shopping for you. Just enter your information to the right, and we will provide you with up to five free quotes on Rhode Island life insurance.
Comparing quotes and products is the only way to select the right Rhode Island life insurance to protect your loved ones. So don't hesitate—submit your information and get your free quotes today.
Who needs Rhode Island life insurance?
Those who financially support or contribute to the well-being of their loved ones should strongly consider purchasing Rhode Island life insurance. This is because your wages will be lost with your death, leaving your family to compensate. A Rhode Island life insurance policy would provide funds to your beneficiaries to maintain their standard of living after you die.
If you don't currently have dependants, you will still want to consider purchasing Rhode Island life insurance. Perhaps you plan on getting married or starting a family, or maybe you'd like to absolve your relatives and friends of paying for last expenses, or any debt you have, such as car or student loans.
The bottom line is that Rhode Island life insurance offers a wealth of financial protection to those named in your policy, and should be considered at any age for that very reason.
What can Rhode Island life insurance pay for?
In most instances, beneficiaries use the proceeds from the insured's Rhode Island life insurance policy to pay for life's necessities. Your loved ones may use your Rhode Island life insurance for:
You may also use the proceeds of your Rhode Island life insurance to start a charitable foundation or to contribute to an existing organization.
Essentially, your Rhode Island life insurance will ensure that your family's emotional stress is not compounded by financial stress after you die—which can make all the difference in the world to a grieving family.
How much money will my family need to survive after I'm gone?
Your family's needs for Rhode Island life insurance are affected by many things, including your personal and financial circumstances.
While most experts recommend purchasing up to 10 times more than your annual salary, you will also need to consider how much money your loved ones need for both short- and long term expenses.
Below are some questions to consider when determining your Rhode Island life insurance needs:
Once you have determined how much money is needed to cover these expenses, you will want to consider any liquid assets that your family would use to pay for them. Assets might include cash, savings, Social Security, pension, stocks or real estate.
After you have totaled your assets, you will want to subtract that amount from the amount needed for expenses, giving you a ballpark figure of how much Rhode Island life insurance your family would need to survive.
What are the differences between a term life policy and a whole life policy?
Term life insurance protects you for a specified amount of time, or term. This means that a death benefit will only be paid if you die during your policy's term. Term life policies generally carry lower premiums, but you may pay more if you choose to renew it. Term policies do not build cash value.
Whole life insurance protects you for the duration of your life, and often includes a guaranteed death benefit. Whole life insurance carries higher premiums than a term policy; however a whole life policy builds cash value over time.
The type of Rhode Island life insurance you purchase will depend on your needs as well as what you can afford to pay. Discussing your needs with an agent will help you determine which policy is better for you.
Plan for the Future Today.
Rhode Island life insurance brings the assurance that your family is taken care of for years to come.
Find your policy today by entering your information to the right. In return, we will send you up to five free quotes on Rhode Island life insurance for fast, easy comparison.