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To many young people, life insurance may seem like an unnecessary expense, especially if you’re in good health. However, life is always unpredictable, and everyone has loved ones to care for after they’re gone. Keep reading to find out why even young adults need this type of insurance, as well as how you can reduce the costs of coverage.

How to Save on Life Insurance Expenses

Why You Need It

If something were to happen to you, the burial expenses can put an enormous financial strain on your family, when they should be free to focus on grieving. Even single young adults with no children should carry at least $10,000 in coverage to cover the cost of burial and cremation.

life insuranceIf you’ve already started building a family, a life insurance policy will give your spouse and children the resources to continue pursuing their dreams. You may decide to leave enough to permanently replace your income, pay off the mortgage, or establish an education fund for your children.

Lowering the Cost of Life Insurance

Life insurance policies are age-banded, which means they steadily increase as you get older. Purchasing a policy when you’re still young is the single most effective way to get the coverage you need for the lowest possible price. Many young adults can get a policy that meets their needs for just a fraction of the price older adults pay.

Because each insurer uses different formulas to calculate risk, premiums can vary significantly from one carrier to the next. Before choosing a carrier, compare rates from several different companies to ensure you get the lowest rates available.
 

For nearly 60 years, Litchfield County, CT, families have relied on Kalita Agency to protect themselves from the unexpected. As an independent agency, they work with several of the industry’s leading carriers and will get you a policy that’s tailored to your needs. Visit their website for more on their life insurance options, or call (860) 274-8882 to request your free quote today.

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