Connecticut Life Insurance

Connecticut life insurance is a good way to prepare for the future and to make sure that your family is financially prepared in the event of your death.  No one wants to think about the worst happening, but it is always better to be safe than sorry. Get the facts on your life insurance options in CT, so that you can make the best decision. There are a few basics types of policies available for Connecticut life insurance. You need to understand the differences.

Why You Need Connecticut Life Insurance

Why should you even bother?  Bill collectors don’t stop calling just because you are in mourning.  Debts still have to be paid.  In fact, the death of a spouse can cause even more debt due to loss of income, funeral expenses, estate taxes and lawyer fees.  Is your family prepared?

As time passes, your needs will change.  As a young couple starting out you will have more debt and responsibility.  There will the mortgage of your home, the expenses of starting a family and college funds to save for.

Over the years the house will be paid off, the children will grow up, graduate from school and start families of their own.  Life insurance will be more important in the beginning than it will be once you have an empty nest.  You may no longer have a need for it.

So what are your options?

Connecticut Life Insurance Options

• CT Term Life Insurance – Term life insurance is available to cover short term obligations, usually available for 10, 20 or 30 years.  These are ideal for those people who want to make sure that things like mortgage payments and other debts are paid off in the event of death where the family isn’t burdened with excess financial strain.

• CT Whole Life Insurance – Whole life insurance policies provide you with a lot more, including a cash value that is available upon surrendering the policy.  They are just one option of helping to save for retirement.  If the need ever arises you can take out a loan against it.

Decide How Much Connecticut Life Insurance You Need 

There are two ways to do this.  After you consider how many dependants you need to provide for, and figure in inflation for the coming years, you can average between 2 and 6 years salary. This depends on how long you think you will need to provide for your family or you can base the amount on any or all of the following:

• Do any of your dependants have any special medical conditions or handicaps that need to be provided for?

• How many children do you have and how long will they still be living at home?

• Do you need to provide college funds for them?

• Do you want a mortgage paid off?

• What about car payments?

• How much debt are you leaving behind?

• How much income is going to be lost?

• Is there something in place to pay for your funeral?  For example, an ex-military member’s family can get help from the Veteran’s Administration.  

• Are there any unique circumstances for your family that have to be addressed and provided for?

Factors That Affect Your Connecticut Life Insurance Premium

• Your age and general health.  You may have to undergo a medical exam to help determine your insurability. 

• The type of policy you want, term life insurance often costs less than whole life.

• Your hobbies and occupation.  High risk jobs such as being a police officer and extreme hobbies such as sky diving and bungee jumping put you in a high risk category.

• The amount of coverage you want or need.

• Your hobbies and occupation.

• If you are over 65 you probably will not be able to purchase a term policy and will be required to purchase a whole life policy.  Health conditions like asthma, heart disease, type 2 diabetes, cancer, sleep apnea, high blood pressure or cholesterol and depression automatically raise your premiums or cause exclusions in policies and in some cases make you uninsurable.

Connecticut Life Insurance Companies

Here is a list of some of the best Connecticut life insurance companies:

• Derby Life Insurance
• Hartford Life Insurance
• Meriden Life Insurance
• Nationwide
• State Farm
• Stamford Life Insurance
• AIG
• Banner Life
• Travelers
• United Healthcare
• Aetna
• Lincoln Financial

Find Connecticut Life Insurance Quotes Now!

We have provided an easy to use tool to get you started in your quest to find Connecticut life insurance.  Start preparing for the future now before it is too late.  Get free Connecticut life insurance quotes from top companies now just by plugging your zip code into the box on this page.