While you probably know it’s important to have a life insurance policy, you might not understand the difference between the types of coverage. Knowing how each policy works is crucial to getting the coverage you need, which ensures your family is protected after you’re gone. 

A Guide to Life Insurance

What does life insurance cover?

If you make the most money in your family, this insurance provides income replacement in the event of your death. It can also cover funeral expenses or medical bills stemming from end-of-life care. It might even be useful as an investing tool. For example, in the event of your death, your family might choose to invest the money for your child’s future expenses.

What’s the difference between term & whole life insurance?

Term life insurance only covers you for a specified term, which usually ranges from 10 to 30 years. While it’s more affordable, you’ll end up with no coverage if you outlive the term. Whole life insurance is more expensive, but as the name suggests, you’ll be covered for as long as you live.

When should I purchase a policy?

Buying a policy while you’re young and in good health is the best course of action. Policies get more expensive as you grow older. If you have a health condition, costs will be more exorbitant and you may be unable to secure coverage. Purchasing a policy at an early age allows you to save money while also securing the coverage you need.

Will I need to undergo a health exam?

Employer-provided policies typically don’t require an exam. Other insurers might ask questions about your health but do not require a doctor’s evaluation.

When shopping for life insurance in Watertown, CT, Kalita Agency is happy to answer your questions. As an independent agency, they provide many choices in insurance plans. They can also help you secure affordable coverage that doesn’t skimp on the protections offered. Other insurance includes liability coverage, auto insurance, home policies, and insurance suited to small business owners. Call (860) 274-8882 to schedule a consultation or to get started on your insurance quote. You can also learn more about their life insurance products by visiting the website.