Life Insurance Tips for New Parents

insurance companies in Hartford CT

Parenting is an exciting new experience. Priorities change quickly when a little one arrives. Life insurance is critical for parents. It provides an important safety net in case of an unfortunate accident.


Even if you already have a life insurance policy, many things change with the addition of a child. Here are some things to consider as a new parent. Before making any drastic decisions, seek out local insurance companies in Hartford CT for advice and guidance.

Permanent vs. term There are two main categories of life insurance: permanent and term. Term life insurance offers coverage over a set time period. Permanent life insurance offers lifelong coverage. Consider purchasing a permanent policy and add term policies for during the kids dependent years.

Education It is never too soon to think about your child’s education. It is wise to factor in education when considering your life insurance policy.

Beneficiary Don’t designate a minor as the beneficiary of your policy. Instead, form a trust or designate an adult to oversee the distribution of money. Otherwise, the minor beneficiary may be limited as to the amount of the proceeds they can receive until the court can appoint a guardian to administer the funds.

Children bring a lot of joy to a family. As your priorities begin to shift, make sure you take the time to ensure the added protection of a well-devised life insurance plan. There are many reputable insurance companies in Hartford Ct.