When it comes to insurance, the types that people tend to prioritize include car and health. However, even if you are in robust health, there are a number of reasons why you may want to consider purchasing a Connecticut life insurance policy.
It may be a vastly different type of occasion, but a wake, funeral and tombstone can be just as costly as a wedding. The total cost of the funeral home services, cemetery plots and the headstone itself can quickly add up, with the average family spending thousands of dollars.
When you pass away, any debt you have incurred gets passed onto your next of kin which can be your spouse, children, parents or siblings. And it is not just personal liabilities that count as debt; if you own a home or a business, the financial responsibility for these debts falls on your next of kin’s shoulders, as well.
If you have worked hard to establish and build a business, you probably want to ensure it remains successful even after you are no longer around to run it. While creating a succession plan is critical, purchasing an insurance product for your business is equally important.
Due to the aforementioned reasons, it may be time to move a Connecticut life insurance policy to the top of your priority list. It could save your loved ones a great deal of financial strain and give you peace of mind that you have protected them.