Covington Life Insurance

Complete Guide to Covington, KY Life Insurance

Find the right life insurance policy for you.

If you are a Covington resident who works for a large company like Fidelity Investments or St. Elizabeth Hospital, you probably already have life insurance as part of your employee benefits package. However, if you leave your job, you leave that benefit behind. It is therefore a good idea to have a personal life insurance policy so you can be sure that your family is covered no matter what.

Purchasing life insurance can be confusing. There are many different policy types and this can make it difficult to decide which is right for you. A local independent insurance agent can help you review your options so that you can make an informed decision. Contact an insurance agent near you to start comparing customized life insurance quotes.

Who in Covington, KY Should Buy Life Insurance?

Life insurance is an important investment for anyone who wants to make sure that their families don’t suffer financial hardships in the event of their untimely death. This insurance is particularly important for those who have recently gotten married, bought a new home, started a family, or have people who rely on them for support or income.

Even Covington residents who are young and single may want to consider purchasing a policy. This is because the younger and healthier you are when you buy in, the less expensive your life insurance premiums will be. It’s best to lock in a great rate before future health problems make you an expensive risk.


Most Common Causes of Death in Kenton County, KY
Heart disease24.3%
Cancer23.7%
Accidents / Unintentional injuries6.8%
Chronic lower respiratory disease6.1%
Stroke5.0%

The third most common cause of death in the Covington area is unintentional injuries. These accidental deaths are sudden and unexpected and can cut down people in the prime of their life. Life insurance ensures that those left behind are given financial stability.

What Can Covington Life Insurance Do for You?

Life insurance is a financial safety net that can benefit you and your family. A good life insurance policy can provide enough coverage to:

  • Pay for your burial or funeral expenses
  • Provide for your children’s college tuition
  • Provide a financial legacy for your children or grandchildren
  • Cover estate debts and taxes
  • Set up a trust fund for your family members
  • Support a charity

Additionally, if you have a whole life policy, you can use accrued funds to:

  • Replace lost income
  • Cover financial burdens such as your mortgage, rent, loans and any other debts

People have different life situations and financial circumstances. Independent insurance agents understand this and can help you determine what you want your life insurance policy to do for you, and can then assist you with finding the right policy to meet those coverage needs.

What Type of Covington Life Insurance Should You Buy?

There are two main types of life insurance policies available. These are known as term life insurance and permanent life insurance.

Term Life Insurance

Term life insurance is the least expensive type of life insurance. Unlike whole life, it has no cash value. Term life insurance is bought for a given amount of time (term), typically between five and 30 years. This insurance provides death benefits for your beneficiaries if you should pass away during the term.

Term life policies are designed to affordably provide a high amount of coverage during times when people are most in need of financial security. These policies are typically purchased by policyholders who have recently gotten married, bought a house, or started a family. 

Permanent Life Insurance

Permanent life insurance, as its name suggests, does not expire. There are different types of permanent life insurance such as whole life insurance and universal life insurance. In addition to paying out death benefits to your beneficiaries if you should pass away, these policies also hold a cash value and can be used as an investment.

Permanent life insurance policies cost significantly more than term life policies.  However, if you buy into them while you are still young and healthy, you can lock in low rates for life.  You also have the option of cashing out or borrowing against your policy if you are in financial need.

Find the Right Covington Life Insurance Policy

There is no hard and fast rule about which type of life insurance is right for you. When you are looking for an ideal policy, a local independent agent can provide guidance by explaining your various options and answering your insurance-related questions.

Are you ready to start comparing customized quotes for Covington life insurance? If so, find an independent insurance agent near you to get started.

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https://www.uky.edu/breathe/sites/breathe.uky.edu/files/KentonCounty2013.pdf