Connecticut Life Insurance (CT)
The state of Connecticut has laws and regulations in place to help financially protect both consumers and insurers.
ConnecticuT Life Insurance Laws Protecting Consumers (CT)
-
Title 38 of the General Statutes of Connecticut: The regulating force behind the life insurance industry in the state of Connecticut. These laws govern the claims procedures and policy requirements, protecting you, the consumer.
-
20 day “Free Look” Period: Even if the policy is signed and paid for by the consumer, Connecticut law allows you to cancel your policy within this 20 day window for
any reason, and you will receive a full refund of all premiums paid.
-
Disclosure of Personal Information: Each individual company will comply with this law differently, so be sure to check your life insurance policy or contact
your insurance provider.
-
If personal information is requested by you, the insured, to the insurance company, (perhaps the results of a medical examination), the
company must honor your request within 30 days.
Request a free, no obligation Connecticut life insurance quote!
-
Connecticut Life and Health Insurance Guaranty Association: In order to protect policyholders in the state, all licensed insurance companies must pay annual fees to the, a state
run organization who will help to compensate policyholders in the event that their insurer goes bankrupt.
Additional ConnecticuT Life Insurance Regulations (CT)
-
The maximum Death Benefit paid by the Guaranty Association is $300,000, with a total net cash withdrawal or surrender of $100,000 per insured individual. These per insured maximums hold true regardless of the number of
polices held on one individual.
-
The Connecticut Life and Health insurance Guaranty Association can only protect policyholders of life insurance companies that are licensed in the state of Connecticut. If you are in doubt, contact your insurance provider or the Connecticut Department of Insurance.
Request a life insurance quote in Connecticut and compare your options today!
Life-Insurance-Info.us is not a life insurance broker or carrier, and cannot issue life insurance policies. This site provides free information on insurance providers and coverage options. We are not associated with the companies profiled on Life-Insurance-Info.us and we make no representation, express or implied, that you will receive a quote from a specific company profiled herein. Products and policies may not be available in all states, and product and policy information is subject to change without notice. Please contact the insurance company directly to answer your policy inquiries.
Last Updated: June 16, 2009
|
