Term Life Insurance In Connecticut // Free Quotes & Tips For 2019
Buying the correct life insurance is essential to the financial future of your family.
We put together this post so that you can have quick access to the Connecticut department of insurance as well as their guaranty association.
You will also find out information specific to the state of Connecticut in regards to their options for life insurance and have a better understanding of why you need life insurance if you live in Connecticut.
In This Article
Comparing Connecticut Life Insurance Quotes
What's The Free Look Period
When you purchase your life insurance policy you still have what is known as the "free look" period in which you can return the policy.
If you use the free look period, the insurance company must refund you all of your monies and the the policy will be cancelled.
The average free look period is 30 days; however, each company can have a different period so it is best to check with them directly.
How Life Insurance Rates Are Determined In Connecticut
Age is going to be one of the largest factors when determining your life insurance rates in Connecticut. The younger you are when you purchase coverage, the more affordable it is going to be.
Your gender is going to be the second largest factor when figuring out your life insurance rates. You will find that women are going to have much more affordable rates than men, primarily because they live longer than men on average.
If you are a tobacco user, you can expect your rates to be upwards of 65% more expensive on a monthly basis. With Cancer being a leading cause of death in Connecticut, and since smoking increases your rates considerably, if you smoke, it's probably time to quit.
The amount of coverage that you purchase will also change your rates. The higher the coverage amount you purchase, the more expensive the policy will become.
Term lenght is going to be a factor because the longer the term length the more expensive a policy will become. However, don't let this fool you, if you lock your rates in for a longer term, you will actually save more money over time.
Everyone is underwritten on an individual basis, this means that if you have a twin, their rates can still be different if their health is different.
Life insurance companies want to know that you aren't a crazy driver. If you have a history of speeding, DUI's or DWI's you could be looking at higher rates or even a decline for coverage.
Top 10 Leading Causes Of Death In Connecticut
It is essential that you purchase Connecticut life insurance when you are young so that your rates are affordable.
- 1Heart Disease - 7,138 Deaths
- 2Cancer - 6,608 Deaths
- 3Accidents - 2,078 Deaths
- 4 Chronic Lower Respiratory Diseases - 1,471 Deaths
- 5Stroke - 1,403 Deaths
- 6Alzheimer’s Disease - 1,077 Deaths
- 7Diabetes - 694 Deaths
- 8Influenza/Pneumonia - 675 Deaths
- 9 Septicemia - 619 Deaths
- 10Kidney Disease - 554 Deaths
A life insurance policy would cover all of the above deaths, including suicide after 2 years of having the policy.
Connecticut Department Of Insurance
Connecticut L&H Insurance Guaranty Association
The Connecticut Guaranty Association was created to make sure that consumers were protected if a life insurance company become insolvent. Their contact info is below:
Phone: (401) 315 – 0526
Connecticut Life & Health Insurance Guaranty Association
PO Box 1550
Pawcatuck, CT 06379
Connecticut Guaranty Association Protection Limits
Each state has a specific limit that they can go up to in case your life insurance company fails.
Life INSurance resources
IN THIS ARTICLE
Sa El is the Co-Founder of Simply Insurance and a licensed Insurance Agent with over 11 years of experience in the industry. He specializes in Life & Health Insurance and is certified in Long Term Care Insurance in the state of Georgia. He is also a licensed real estate agent in the state of Georgia (License #382602), an entrepreneur, insurance educator, and freelance writer.