When discussing CT life insurance, many people don’t really think about all of the different factors that go into a policy. Some people simply say, “it’s just life insurance, what else is there to know?” Well, you probably need to know more than that! Here’s some questions that you should be asking when discussing a new CT life insurance policy:
I just married the love of my life a few weeks ago. Do I need to let my agent know about this?
- Yes, absolutely! A significant life-altering moment like a marriage has a significant effect on your insurance, especially life insurance. Make sure you let your agent know this new information as quickly as possible in order to get the best policy for you and your loved ones.
If I already receive life insurance coverage from work, do I need a personal policy as well?
- Yes again! While that policy may be a nice option, unfortunately there’s no crystal ball telling you how long you’ll be with the company or if it’ll even be a company in the next few years. If that’s the case (i.e. you company goes out of business), then you’d be left high and dry unfortunately.
What’s this ‘Term life insurance ‘ policy, and should I look into it?
- Basically, term life coverage is a policy in which you buy the protection for only as long as you want it, so you can by one for ten years, twenty years, all the way up to thirty years. It’s entirely up to you. Usually a pretty wise (and safe) investment.
How affordable is a Term life insurance policy?
- Actually, it’s the most affordable of all types of life insurance, because term limits the period of time the insurance company (carrier) is responsible for you, the carrier reduces its risk and your cost, potentially saving hundreds of dollars per year over other options.
Will my life insurance premium go up if I become sick later in life?
- No, that’s why it’s so wonderful to invest in. You are locking in your premium rate now for the longevity of the policy. It will never increase if you become ill later in life.