Rhode Island Overview


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Rhode Island State Facts
  • Rhode Island was either named for the Isle of Rhodes (in the Mediterranean Sea) or for its red clay
    • Rhode Island's official flag was adopted in 1897. The flag is white, fringed with yellow on three sides.

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April 11, 2011

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The State of Rhode Island and Providence Plantations, also known as Rhode Island, is the smallest state in the United States by area. The state is known for its shipping and manufacturing industries. However, it has, in its recent, years, emerged as the home of the largest health services industry in the country. With the lowering of the infamously high taxes by the government of the state in the previous year, citizens of the state now stand a better chance in affording their Rhode Island life insurance coverage.

The state of Rhode Island had a high income tax rate of 25 per cent, one of the highest in the country. It was widely believed that this high rate of taxes had reduced the competition among the businesses in the state. However, all this changed in the year 2010, when the new taxation system was introduced, which effectively reduced the tax rate to 5.99 per cent, apart from various other changes that meant better competition for businesses and lesser taxes for the common people. Many residents of the state have now started purchasing Rhode Island insurance policy to not only avoid paying of hefty taxes but also enjoy the benefits offered by an insurance policy.

You can now afford your life insurance policy, and if you do not have one yet, you can choose from a wide range of health service companies in the state and buy them at lower rates than earlier. Life insurance is very important if you want to support your family financially, no matter what happens to you in the long run. A life insurance policy can provide your dependants and beneficiaries with enough income through their lives, to maintain the standard of living they when you would be there with them.

You can consider obtaining a Rhode Island life insurance policy even if you do nothave any dependants at the moment. You may be planning to marry and begin a family of your own at some point of your life, and at that time the life insurance policy can come to serve its purpose as a financial backup to your family. In addition, you may need to clear your dues with your friends or your relatives, or you may need to pay off your debts from loans for your education, house or vehicle.

At the end of the day, you need to know that life insurance can benefit you by providing a financial cover over your life, as well as the lives of your dependants in your policy. For this reason, you need to consider taking a life insurance cover at one point of your life or the other.

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