Thinking of life insurance can bring thoughts of 1980’s made-for-television movies about spouses plotting to have their significant others killed so they can get the life insurance money. Those TV movies sure made for some good entertainment. They made it seem like having life insurance was just for the rich or prominent people in the world.
If you think having a life insurance policy is just something you see on TV, think again. Life insurance is a wonderful tool that can help your family financially in the event that you do pass away. Life insurance policies are available in all shapes, sizes and premium amounts. You do not have to have a lot of money or be high in society to set your family up with a very good policy.
Term life insurance can be a very affordable option if you are looking to have a policy for a certain amount of time – usually 10, 20 or 30 years – that will give your beneficiaries a large pay out if you pass away during that period of time. While you think you might need to wait until you are older to afford a policy, buying a policy when you are young and have good health can keep the premium at a minimum.
When you do get a little more financially established, you might want to check into a whole life policy. These tend to be a bit more expensive, but they have more benefits. They can cover you for your entire life and will accrue a cash value that can be utilized later on in your life.
Contact your trusted CT life insurance agent today to find out what type of policy is right for you and your family. Whether you choose term life or whole life- don’t worry, you’ll be covered.