You could also come from the standpoint of its you not him, dont point fingers or point blame or fault. Let him know youre at a point in your life where you need to figure things out for YOUR life. Dont say..."its not you, or this has nothing to do with you, thats been exhausted. Just keep it simple get to the point and dont drag it out, and dont let him drag out. And I dont necessarily agree with the fact that being in love with someone constitutes and allows excessice jealousy. There is a fine line of having some jealousy now and again, but not constant. His trust issues and all the things you describe about him, are INSECURITY. IF you dont have trust or communication in a relationship its doomed. He also sounds like he's very dependant on you which is also not healthy. Its fine to be co-dependant for certain things, but that goes with time and in a strong healthy relationship, which he doesnt get.
Let him know in order for you to grow as a strong individual you'd like to take some time for yourself, figure yourself out, etc. Try to keep all things said in a positive manner and keep out anything negative. Thats what I suggest. Yes, expect him to be freaked out and probably angry, hurt, upset, all those nasty emotions everyone hates. But if you handle it in a strong mature matter he might(small chance) be ok. But be prepared to stand ground. He will do or say what he has to to keep you and this relationship. But he has to grow as well, as individuals and then come back together healthy knowing what each of you wants for yourselves and your future.
Goodluck!
everything happens for a reason...beginning to wonder why.