More Women Need New London CT Life Insurance Coverage

Securing the right CT life insurance can be vital to many New London families’ financial planning strategy. Yet still, many individuals fail to secure the coverage they and their loved ones need. This is especially true for women. According to a recent report by the Insurance Information Institute (I.I.I), the number of male life insurance policyholders vastly outnumber that of their female counterparts. Many experts suggest that this is largely due to more traditional and outdated cultural norms.

According to the most recent Bureau of Labor Statistics data, women now comprise 57 percent of the U.S. labor force, yet these workers carry 31 percent less life insurance than their male counterparts. A national poll conducted by an industry news and information resource, found that 43 percent of adult women have no life insurance coverage at all. Furthermore, many of those who are insured carry only a quarter of the coverage necessary for their needs leaving them vastly underprotected. An additional study conducted by LIMRA found that on average, women have $129,800 of individual life insurance coverage while their male counterparts have roughly $187,100.

Furthermore, working women are more likely to obtain life insurance than their stay and home counterparts. Women contributing to the economic well-being of their family in alternative ways, such as taking care of household tasks, acting as the primary care giver for children and aging relatives, and other domestic roles often have little or no life insurance coverage at all according to the I.I.I. Should something happen to these individuals, many families would be faced with the challenge of finding service providers to assume these duties, which can be costly and times consuming. The right Connecticut life insurance policy could help cover those expenses and more.

New London CT life insurance can be a good choice for many women, whether they have dependents or not. For example, a life insurance policy can help provide the necessary funds to supplement other retirement income, or the claim payout can pay for outstanding debt, funeral, burial, probate and estate administration expenses should something happen to the policy holder. Life insurance can even be used as a wealth transfer strategy so that policy holders can provide for their loved ones or favorite philanthropic cause.

There are so many reasons that for seeking out a New London CT life insurance policy that is right for you. At Byrnes Agency, we understand that while life insurance can be a sensitive subject protecting your family is of the utmost importance. Our Connecticut insurance agents will take the time to sit down with you and your family to craft life insurance strategy that will fit your needs now and in the many years to come. Contact our New London CT life insurance specialists today to learn more about how we can help you plan for your future.

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Dayville Office

Phone: (860) 774-85
394 Lake Rd
Dayville, CT 06241
United States
info@byrnesagency.com
Hours of Operation: Monday- Friday 9:00am-5:00pm

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Norwich Office

Phone: (860) 886-5498
6 Consumers Avenue
Norwich, CT 06360
United States
info@byrnesagency.com
Hours of Operation: Monday- Friday 9:00am-5:00pm

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Woodstock Office

Phone: (860) 928-7928
1226 Connecticut 169
Woodstock, CT 06281
United States
info@byrnesagency.com
Hours of Operation: Monday- Friday 9:00am-5:00pm