Accidents happen every day.  Some are small, like scrapes and bruises.  Others are more serious, like fatal car accidents and medical emergencies.  Unfortunately, the latter accidents cannot be taken care of simply with the application of a band aid or an ice pack.  There are serious implications in the case of death within a family, particularly if the deceased is the breadwinner.  Once the emotions of such an event set in, the financial implications become more and more present in the minds of those affected.  How will the funeral costs be covered?  Can we survive without a main financial stream?

For people concerned about their family’s well-being after their death, life insurance is a great option to look into.  At its base, life insurance pays a sum of money to your chosen beneficiary so that there is a financial base in lieu of your death.  There are two main types of life insurance: term and permanent.

Petruzelo Insurance Agency, Inc., provides this information about life insurance:

“Term Life is right for you if you want:

  • An affordable way to get maximum coverage
  • To cover specific financial responsibilities like a mortgage or college expenses
  • To supplement your Permanent Life Insurance during periods when coverage needs are higher, such as family-rearing, mortgage-paying years

Some things to consider about Term Life:

  • There is no cash value accumulation
  • Continuing your coverage after the initial level premium-paying term expires can be very expensive
  • Whole Life for permanent coverage, with guaranteed premiums, death benefits and cash value growth.
  • Universal Life for permanent coverage, flexibility and less emphasis on cash value.
  • Term Life and Disability Package that combines the two types of insurance families need most.”

There is a plethora of reasons to get life insurance CT coverage for yourself – it is the base of a smart and sensible financial security plan for your family.  Contact Petruzelo Insurance today for more information.

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