Do you need life insurance in Connecticut? If you are considering life insurance, these simple tips may help to make the process easier.
1. Decide How Much Life Insurance You Need
There are several important questions to ask yourself:
- What financial resources will be available to your loved ones after your passing?
- What financial needs will your dependents have after your passing?
If you subtract the amount that your survivors may need from the amount of resources that will be available, that should give you a general idea of how much coverage you need. You may, however, opt for more if you want to be able to leave a larger inheritance to your heirs.
2. Consider Other Financial Goals that You May Have for a Life Insurance Policy
Some policies accrue cash value over time. Policy holders may be able to borrow against or withdraw from these kinds of policies. In effect, some types of life insurance policies can act as savings accounts. You should consider whether your life insurance in Connecticut may be something you may want to use in this way.
Deciding upon a life insurance policy is a major decision, one that may require guidance from a professional. However, before meeting with an insurance agent, it is helpful to do research and come to some decisions on your own. This will help you to have a more productive meeting with an agent.