Connecticut General Life Insurance Offers Plans Nationwide

The Connecticut General Life Insurance Co. has been in business for about 100 years and sells a variety of whole life insurance, term life insurance, annuities and other life insurance and financial products as well as health insurance. The company is based in Bloomfield, Conn., and is among the more reputable life insurance companies in the United States.

Term life insurance from firms like Connecticut General are considered the purest form of life insurance coverage and last for a set period of time while providing affordable life insurance coverage. There are many ways term life insurance is used throughout someone’s lifetime. When people buy homes and carry mortgage insurance to pay off the loan if they are disabled or killed, that is a type of term life insurance, in this instance, decreasing term life insurance due to the fact the insured value is reduced over time as the loan amount is paid off. Another common way in which people choose to use term life insurance is to help ensure a child’s college education can be paid for and a large stipend left for the family if the head of household should suffer a life-ending tragedy.

Term life insurance is more affordable than whole life insurance, which has a nearly guaranteed payout versus term life insurance plans, which usually do not result in a payout before the contract expires. But whole life insurance is in force until age 100, at which point a payment is made as 100 years is considered a full lifetime when it comes to life insurance protection. If the insured is still alive at age 100, the policy still will pay as of the 100th birthday. The Connecticut General Life Insurance Co. and other life insurance firms offer a wide variety of whole life insurance products to help protect families and their assets.

Annuities are another investment tool offered by life insurance firms, and they can come in many forms. An annuity is an investment vehicle that operates similarly to life insurance products. But instead of taking in premiums strictly to pay for risk management, annuities have an investment aspect and thus a potential financial risk for some, depending on the type of annuity purchased. A variable annuity allows policyholders to boost their potential earnings through stock market investments and investment in other types of financial tools.

In addition to variable annuities, the Connecticut General Life Insurance Co. also sells variable life insurance products, which, like variable annuities, offer an investment option for policyholders that does come with some level of financial risk. When used properly, returns on variable life insurance products can be very profitable and result in higher returns for policyholders. But when the investment vehicles do not perform well, some loss can be realized, although it is unlikely to suffer a total loss.

Regardless the type of life insurance or investment vehicle needed, there are ample opportunities to obtain online life insurance quotes from some of the best firms in the United States and help save money while buying life insurance protection. By Mike Heuer