Living in Illinois, you know what it’s like to live a happy and fulfilled life. But have you ever thought of whether you are adequately protected when it comes to your life insurance policy?
There is good news for Illinois residents: the average life expectancy in Illinois is right on track with the nation’s average. Living in Illinois means you have an average life expectancy of 78 years!
We want you to live a long and happy life, and we don’t want you to have to worry about figuring out the often confusing options available for life insurance.
One of the most common questions individuals have about their life insurance rates has to do with how your rates are determined. The short answer to that is this: every life insurance policy is personal and customizable – that means your rates are, too. That said, there are typically three options for your policy that you can choose from when determining your personal life insurance policy.
- Whole life insurance: This is coverage that you maintain for the entire duration of your life starting when you obtain it. This policy will typically have higher premiums but comes with the ability to build equity and has cash value. For many people, this type of policy is ideal because it can provide additional value in the long-run.
- Term life insurance: This option of coverage is designed around a specific “term” period of your life. This means that your rates are going to change after specific times expire. This type of policy will have lower premiums due to the nature of the changing rates.
- Term and whole life combined: This is coverage that has a base of lifelong coverage but can be supplemented during specific times of your life with term life coverage options. Many people choose this option.
Life insurance is a very personal matter. Your reasons for choosing one type of plan over the other are going to be different from your neighbors. This is why at The Jager Agency, A Division of Dimond Bros. Insurance, our agents are willing and ready to sit down with you and talk about your lifestyle and preferences.
Together, we can build a plan for your life insurance that meets all of your needs at an affordable rate. Give us a call today at 888.298.6006 or take a few moments of your day to fill out our online quote form and one of our friendly Illinois agents will get back to you.