Alaska might be the least densely populated state in the U.S., but that doesn’t mean life insurance is an afterthought for Alaskans. There are plenty of people in The Last Frontier that want and need life insurance, so we’ve rounded up everything you need to know about finding great life insurance in Alaska.
Keep reading for information on cost, savings, coverage types, and more.
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The reasons for getting life insurance can vary significantly, which is why you have different life insurance options available to you. So whether you want to leave your children a nest egg or simply take care of your funeral costs, there’s a life insurance policy for you.
Here are some of the life insurance options available to you:
Not everyone wants life insurance for the same reason, so the different policy type options mean you can find the right coverage for your needs.
Life is unpredictable, and even standard life insurance doesn’t always fully protect you. That’s why insurance providers often offer life insurance riders, which are add-on coverage options that help customize your policy even more.
Some common riders include:
You can add riders to your policy as you see fit, but keep in mind they’ll increase your premiums. Buying any riders you think you might want when you set up the initial policy is best, as adding a rider later could require you to go through the underwriting process again.
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It’s nice to know your coverage options, but cost is often the main determinant in life insurance. The good news is that life insurance is more affordable than you might think. In fact, 80% of people overestimate the cost of life insurance.
So, how much is it? While actual rates depend on a number of factors, the average annual cost of term life insurance in Alaska is $655.
Here’s some more data:
The younger you are, the more you’ll save on life insurance. But choosing to get life insurance later in life doesn’t mean you’re stuck paying an arm and a leg to protect your loved ones. Keep reading to find out ways to save on life insurance rates.
Life insurance is important, but so is saving money. Luckily, both are more than possible when it comes to finding life insurance in the Land of the Midnight Sun.
Here are our top tips for saving on life insurance:
Saving money on life insurance is a win-win: you get peace of mind knowing your loved ones are protected, while putting a little extra money back in your pocket to live life to the fullest.
Life insurance can be a key part of retirement planning and making sure you and your loved ones are set up for your golden years. Looking for more retirement financial planning tips? Get your free guide here, so that you can make the most out of your hard-earned retirement.
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Even though you’re a little more vulnerable to Mother Nature in Alaska, you’re still not required to get life insurance. It’s completely up to you if you’d like to get life insurance, and the reasons can vary from helping your family replace your income if you pass suddenly to ensuring your final expenses are paid for.
Getting life insurance while you’re young and healthy is when you’ll save the most money, so if you think you might want life insurance down the line, it’s better to lock it in sooner rather than later. No kids? No sweat. Here’s why you should get life insurance, even if you’re child free.
Ready to take our advice and start shopping around for life insurance quotes? It’s easy. Now that you know the type of coverage you need, you can start browsing online for quotes or contact your insurance agent.
Keep in mind that you’ll want to provide as much information as you can when requesting your quote to ensure you get accurate quotes that help you plan accordingly.
When it comes time for your policy to be written, be honest and transparent; Alaska has a two-year contestability period in which the insurance provider can challenge the insurance claim for inconsistencies or misinformation on your application. By not being truthful on your application, you could risk leaving your loved ones empty-handed in the event of your passing. Find more information on the contestability period here.
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Life insurance can mean different things to everyone, whether that’s ensuring your family doesn’t struggle financially without you or simply tying up loose ends after your passing. But what’s universally true is that life insurance can provide peace of mind and it doesn’t have to cost you a fortune.
If you’re ready to start exploring life insurance, you’ve already made a sound financial decision for you and your loved ones. Start by getting access to free quotes fast by clicking here, and you’ll be well on your way to the right life insurance policy for you.
Jessica Fox Jessica Fox has been a freelance writer for five years, with a specialty in health, wellness, and insurance. During this time, she’s written for some of the biggest B2B and B2C brands from around the world. Jessica is also the mother of two young daughters and loves coffee, writing, and working out.
