If you are the primary provider for your family, then life insurance is a vital part of your long-term financial planning. Life insurance protects your family if you die unexpectedly, but many people don’t get the right policy for themselves and their family. Our partners at ConsumerAffairs researched the best life insurance in Tucson so you can make sure your family is taken care of if unexpected tragedy strikes.
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You want your family taken care of in the event of your death. There are many benefits to life insurance policies in Tucson, including:
Paying final costs: The benefits of your policy can cover funeral or cremation costs, medical bills, estate fees and other expenses that need to be paid.
Paying off debt or replacing income: Life insurance policies can replace your income if you die. Family members can use this money to cover essential expenses, including mortgage payments or education costs.
Inheritance: Policies will have you name a beneficiary, which secures an inheritance for your loved ones.
Paying taxes: The money from your policy can help your heirs cover any costs if they face estate taxes after your death.
Types of life insurance in Tucson
Many insurance providers offer a large display of options for life insurance policies. Some of the most common policies are:
Type of insurance
Term life insurance
Insures you for a set period of time, usually 10 to 30 years
Whole life insurance
Does not expire as long as you pay your premiums
Universal life insurance
A more flexible form of whole life insurance that has death benefit and cash value components
Variable life insurance
A type of whole life insurance that invests in mutual funds, which can provide greater returns or losses
Survivorship life insurance
Permanent insurance purchased by a couple that pays beneficiaries after both parties die
A policy designed to cover funeral expenses that usually does not require a medical exam
The cost of life insurance in Tucson
The type of policy and amount of death benefit are two major factors that determine the cost of life insurance. Other information that will influence the price of your premiums include:
Nicotine and alcohol use
Family medical history
Hazardous occupations or hobbies
Some of the information used to price your policy is beyond your control. It’s important to look at the factors above and choose an insurance carrier that is less likely to penalize you based on certain criteria.
Choosing a life insurance company in Tucson
Because of the high value and importance of life insurance policies, it’s important to choose a financially stable company that will be able to pay the death benefit when your family needs it. Many companies will list their rating from an independent business credit rating agency on their websites. You can also look up a company’s rating with credit rating companies such as A.M. Best.
Life insurance providers such as MetLife, Prudential Financial, State Farm and New York Life Insurance Group have a long company history, which is a good indication of financial security, and offer policies to Tucson residents. If you’re unsure of a provider, check with the Arizona Department of Insurance to see it has any complaints filed against it.
Policygenius makes it their mission to make buying insurance a less frustrating experience by allowing customers to easily compare dozens of insurance providers and purchase life insurance online within minutes. Customers in Tucson praise the simple process and helpful insurance agents who walked them through the process.
EverQuote takes away the hassle of finding and contacting life insurance providers by researching policies and matching you with the one that best fits your needs. Many Tucson customers recommend the company for providing and explaining multiple options, but some report repeated calls from companies after submitting their application.
Allstate was founded in 1931 and is one of the nation’s largest insurance companies. The company provides online quotes in a matter of minutes, and its experienced agents will guide you to the best type of insurance for every stage of your life. Reviews from Tucson residents compliment the knowledgeable insurance agents.
ABC Insurance specializes in providing superior customer service. The company is an independent broker of insurance that offers policies from the top providers in the country. Tucson customers love the high level of customer service and low rates, but many reviews state that it can be difficult to get in contact with an agent.
Our partners independently research and analyze the companies mentioned in our guides and work with subject matter experts to add valuable information that helps consumers make smart purchase decisions. Our partners will not include companies on these guides that do not meet specific quality standards. The compensation we receive from our partners may impact how and where companies appear on our site, including the order in which they appear.
Our partners independently research companies, and use editorial discretion to award companies with special recognition (i.e. Best Value) based on their staff’s judgement or subject matter expert’s judgement. Our partners do this to help you identify companies that will meet your specific buying needs, and do not receive compensation for these designations.