The benefits of life insurance are many. A life insurance policy is a contract where the insurer promises to pay a specific sum of money to the beneficiary on the policy. This payment will be disbursed to the beneficiary in a period of time after the insured person is deceased. These policies are purchased by the insured individual who has paid a premium on a routine basis. Some of the companies will first pay for the funeral and disburse the remaining amount to the beneficiary. Life insurance is really a good investment when you think about the value it has in making sure your loved ones are taken care of after you are gone.
There are many people who realize the importance and value of a life insurance policy and will purchase this benefit way in advance. This provides them with the security they need to ensure that their loved ones aren’t left with the burden of having to pay for a funeral out of their own pockets. It is also reassuring to know that they will be left with a significant amount of money they can use to help pay off bills and meet their other financial needs.
If someone dies and they have no Life Insurance in CT and they haven’t prepaid their funeral and burial expenses, their loved ones could get stuck with thousands of dollars worth of debt. Even a simple funeral with the lowest cost services and extras can cost several thousand dollars. No one wants to leave their family with that type of debt.
Life insurance really is one of the most valuable gifts you can give to your family that will help take care of everything when you are gone. More information about the types of life insurance and how to purchase policies can be gotten from an insurance agent with Harrigan Insurance and Financial Services Inc. A professionally licensed agent can help answer your questions and provide you with all of the information you need. They can also help you choose which life insurance policy is best for you in your individual situation.
