Mississippi Life Insurance
Get a full analysis of Mississippi life insurance costs, coverage, and companies.
Written by
Ann Herro has been writing about insurance and employee benefits for over 15 years. She has covered topics as easy as insuring a car, and as difficult as transparency in healthcare costs.
Find the Best Life Insurance Options in Mississippi
Most people want to make sure that after their death, their dependents are taken care of. You'll want them to be able to pay your debts and support themselves if you're gone. By purchasing a life insurance policy in Mississippi, you can have peace of mind knowing that your loved ones will be cared for.
An independent insurance agent in Mississippi can help you find a suitable life insurance policy. A local agent will help you obtain life insurance quotes and guide you through the many different coverage options and policy types available to you so you can be sure to make the best choice for your needs.
What Are the Best Life Insurance Companies in Mississippi?
There are many options for life insurance in Mississippi. How can you make the best choice?
We recommend the following as one of the best life insurance companies in Mississippi.
- EMC National Life: EMC National Life is a financially strong life insurance company and affiliate of EMC Insurance Companies, which has been in business for over 100 years. EMC National Life helps customers find affordable life insurance, including temporary or permanent life insurance options.
An independent insurance agent in your area can help you learn more about these and other Mississippi life insurance companies. A local agent can help you get competitive quotes for the coverage that fits your needs.
Is Life Insurance Required in Mississippi?
Although life insurance isn’t required by law in Mississippi, it’s definitely worth your time to learn about it and seriously consider purchasing a policy. Life insurance provides a financial benefit to an individual’s family after his or her passing. That money can be used to pay for anything from funeral expenses to an unpaid mortgage.
Not everyone needs life insurance. But those who own a home or have dependents must seriously consider it. If you’re young, single, and have little debt, you may be able to wait a while before you invest in a life insurance policy.
Independent insurance agents in Mississippi who specialize in life and health insurance can help you decide when life insurance makes sense for you.
What Does Life Insurance Cover in Mississippi?
There are two major types of life insurance policies available: term life insurance and permanent life insurance. Each offers benefits for different periods of time. The proceeds of any life insurance policy can be used to:
- Pay off accumulated debt
- Pay for a dependent's college tuition or mortgage
- Cover your funeral and burial costs
- Donate to your favorite charity fund any other expenses or concerns that are important to you
Term life insurance provides financial protection for a specified period of time, such as 10, 20, or 30 years. If you die while the policy is in force, your beneficiaries receive the death benefit. If you live to the end of the policy term, the policy terminates unless it automatically renews.
Permanent life insurance provides more than a death benefit. These types of policies offer a long-term savings or investment component (cash value). Whole life, universal life, and variable life insurance are all examples of permanent life insurance.
A local independent insurance agent can help you decide which type of life insurance is best for your needs.
How Much Does Life Insurance Cost in Mississippi?
Premiums for life insurance in Mississippi vary depending on the type of policy that you purchase, the policy period that you choose, and the amount of the death benefit that is paid out upon your death.
Insurance companies also price life insurance based on your age at the time you purchase your policy, your health status, and certain lifestyle factors like whether or not you smoke or engage in other risky activities. If you're a smoker, for example, you can expect to pay more for life insurance than a non-smoker because of the added health risks that come with smoking.
The premiums for term life are typically level and guaranteed for the initial time period. After the initial time period expires (e.g., 10 years), you can usually choose to continue the coverage, but often at a much higher rate.
Term life generally costs much less than permanent life insurance. It is ideal for people looking to simply pay some final expenses and provide income replacement for their remaining spouse and other dependents.
Permanent life insurance policies generally have much higher premiums than term life because you are funding a cash value account as well as paying additional fees and expenses related to the policy. Permanent life insurance is very complex and can offer many possible outcomes throughout the life of the policy.
An independent insurance agent in Mississippi can help you find life insurance that you can afford.
How to Find the Best Life Insurance Quotes in Mississippi
To get the best quotes for life insurance in Mississippi, find an independent insurance agent now and get one-on-one consultation and affordable options for the best coverage for your unique needs. Your agent will work with you free of charge, offering you a variety of options so you can make the best choice.
What’s more, your agent will be there for you when claim time comes. They know the ins and outs of the process and will make sure your claim is handled appropriately.
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Mississippi Life Insurance FAQs
No, life insurance is not required by law in Mississippi.
The proceeds of any life insurance policy can be used to:
- Pay off accumulated debt
- Pay for a dependent's college tuition or mortgage
- Cover your funeral and burial costs
- Donate to your favorite charity fund any other expenses or concerns that are important to you
The two types of life insurance, temporary life insurance and permanent life insurance, accomplish these things in different ways.
Annuities are interest-bearing contracts that ensure a continuous income stream. With an annuity, you make payments to an insurance company and the insurance company then agrees to pay an income to you (your invested money plus interest on the balance) for a specified period of time.
Annuities can take many forms but typically involve a deferred payout with fixed or variable returns. They are usually bought for future retirement income, but they're not appropriate for everyone. An independent insurance agent licensed to sell annuities can help you decide if an annuity is a good option for you. And you can find more information about rules for life insurance and annuities in Mississippi from the Mississippi Insurance Department.
In general, premiums for life insurance in Mississippi vary depending on the type of policy that you purchase, the policy period that you choose, and the amount of the death benefit that is paid out upon your death.
Insurance companies also price life insurance based on your age at the time you purchase your policy, your health status, and certain lifestyle factors like whether or not you smoke or engage in other risky activities.
EMC National Life is one of the best life insurance companies in Mississippi. The company works with independent insurance agents who represent its comprehensive suite of life insurance products.
Everyone has different life insurance needs, and choosing the best policy is a very sensitive and personal decision.
A local independent insurance agent understands how to talk about life insurance and help you make the best decision for your family. Contact an agent in your area to begin comparing customized quotes.