Connecticut Life Insurance

Connecticut life insurance laws deal primarily with claims. However, understanding the basic regulations is still key to making wise coverage decisions.

This page:

  • Briefly describes Connecticut life insurance regulations

  • Explains the Connecticut Guaranty Association's protections

  • Links to more information about life insurance in Connecticut

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Connecticut life insurance rights and regulations

The insurance industry in Connecticut is regulated under Title 38 of the General Statutes of Connecticut. Under these laws, claims procedures and policy requirements are regulated by the state in order to protect you, the consumer.

One such consumer protection is guaranteed by Connecticut's twenty-day "free look" period. If you decide to cancel the life insurance policy during this window you will recieve a full refund of premiums.

Connecticut also regulates the insurance company's disclosure of personal information, like medical records. (However, be sure to check your policy and consent form for details about exactly what information is priveleged.)

If you request personal information from the insurance company - results of a medical examination, perhaps - the company must honor the request within 30 days of its receipt.

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If you are ready to apply for a Connecticut term life insurance policy, or if you just want a quick online quote, visit Efinancial now.
If you are not sure about what type of life coverage you want, you can also try InsureME. They will put you in touch with agents who can answer any questions that you might have.

The Connecticut Life Insurance Guaranty

Licensed life insurance companies in Connecticut are required to pay annual fees to a state-run organization designed to protect policyholders. This is the Connecticut Life and Health Insurance Guaranty Association, and it helps compensate policyholders in the event of an insurer's bankruptcy.

However, the amount of compensation per insured individual is limited. In Connecticut, death benefit compensation is limited to $300,000 with a net cash surrender or net cash withdrawal maximum of $100,000. These limits apply even if the insured should own two policies totaling more than $300,000.

The Life Insurance Guaranty Association can also only provide protection to policyholders of licensed insurance companies. To make sure your insurance company is licensed and covered in Connecticut, call the Department of Insurance's Consumer Services Division toll free at (800) 282-8611.

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Apply for a quote with confidence at Efinancial
(for Connecticut term life insurance), or InsureME.
Your insurer will be licensed in Connecticut.

More CT life insurance help

If you want more help getting the best value on your CT life insurance policy, start with our guide to term life insurance or sign-up for our free life insurance course (see below).

To find out more about CT life insurance laws and regulations, visit the official website of the State of Connecticut Insurance Department.

Learn even more:

Getting the lowest possible premium on your life insurance is almost like an art form. There are many variables to consider, and to get the right balance of term length, benefit amounts, and policy riders and illustrations, you need to take a careful step-by-step approach to the buying process.

Our free life insurance course is designed to help you do just that.

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