Life insurance is something no one really likes to think about because it usually signals the end of life for a loved one, often the provider for the family. It was his or her way of helping secure a brighter future for a spouse and any children left behind to face the often-cruel realities of life without that added human support.
But the great thing about life insurance is that it does allow family to, at the very least, take care of any necessary arrangements, and hopefully pay for further education, or keep a family business going, so the advantages of having CT life insurance is plain to see.
One thing you can do, when shopping for a carrier, is to ask for outlines of life insurance coverage so you can compare the features of several different policies. It’s very important that you make sure that you fully understand any insurance policy that you may be considering and that you feel comfortable with the agent, his or her company, and the products being offered.
Make sure that the company is licensed in your state
Unfortunately, not all companies are highly rated, so take your time and search for a life insurance company that is reputable, consumer-oriented, financially strong, and known to deliver on their promises. A number of insurance rating services are available to you that rate the financial strength of companies. This information can be obtained from your agent or from public or business libraries. Rating agencies include:
- A.M. Best Company
- Standard & Poor’s Insurance Rating Services
- Duff & Phelps Inc., and
- Moody’s Investor Services Incorporated
Whenever applying for coverage you must always answer questions about your medical history and health carefully and as truthfully as possible, and be sure that your CT life insurance application is filled out accurately. Once accepted, and purchase is finalized, always check the date the insurance becomes effective.
Never keep life insurance policies in your safe deposit box. In most states, these boxes are sealed temporarily upon the death of the owner, which can likely delay a settlement at a time when funds may be needed the most. Remember to review your policy periodically or when a major event occurs in your life in order to be sure your coverage is always in line with your current needs.