Provide Security With Life Insurance

While no one wants to think about death, it is important that you provide security for the ones you love in the event that something terrible happens. Life insurance is a smart way to help pay for debts, final expenses, estate tax, and college tuition. It can also be another way to build up cash for the future. With Hartford, CT insurance, there are different types of policies that you can choose from.

Term Insurance

Term insurance is a type of coverage that has no investment component. You pay a premium for a certain amount of time, and in the event of a loss, the coverage amount is released to the beneficiaries. You can purchase renewable terms, and the premiums increase as you get older. You can also purchase fixed terms, which have slightly higher premiums but don’t increase over the chosen term.

Whole Life Insurance

With whole life insurance, you are combining life coverage with an investment platform. As with term coverage, a fixed amount will be paid upon death, but part of your premium also goes towards building cash value. This amount builds tax-deferred over the years, and you can borrow against it without being taxed. This type of insurance will have higher premiums than term coverage does.

When considering life insurance, there are a lot of things to keep in mind. Speak with a Hartford, CT insurance agent to find out which type of coverage is best for you and your family.