What do I need to know to get the adequate cash value of insurance in Connecticut for my family? I have two little kids, and I want to make sure their future is secured.

Mathilda Roswell

Bridgeport CT

It is an excellent decision, I must say, to plan for your family and your two young ones. It really is rewarding to have something to fall back on, isn’t it? Just like you mentioned, in order for you to have security, you must plan for it properly. It is one thing that you have an insurance in Connecticut, and another thing that you have the right cash value of life insurance when the time comes for your family to benefit from your life insurance policy. If your cash value will not suffice, it will be extremely disappointing to know about it a little too late, right? So you had better think it over really hard and prepare for it by doing the things below.

In order for you to better secure your family, you must list down all the things you will need when the time comes. Again, please remember that preparation is the key here, so you must go over the details well and, perhaps, ask help from a financial planner, if you have to. By getting a ballpark figure on how much, at least, can be claimed at the end of the contract, you can sleep better at night knowing that, years from now, your family will still be covered – secured.

First, you must think well of your kids’ needs. Since they are still young, they would have to go through a lot and attending schools is one of them. You must include the money for your children’s education – from day care to college fund, if your earnings can allow for that. You should also put in your budget the family members’ living expenses, the basic things they will be needing in their daily lives. Another important thing you will include is the medical or other health-related expenses that you should be prepared of. Allocate also some amount for emergency matters, which you may call as “urgent” or “emergency funds.” Don’t forget also to factor in the inflation rates, so that you will have the adequate amount to be utilized by your family.

Hello there. I would like to know how single premium life insurance in Connecticut works, or if it works at all. How is it different from the other kinds of life insurance?

Ellen Summer

Bridgeport CT

We have already discussed several kinds of insurance policies here – from whole life, to variable life insurance. All of these life insurance policies aim to provide security for your future, even up to death, which is an inevitability we all must accept. However, before this time comes, we can avail ourselves of life insurance products that can help ease the situation of our loved ones when we pass away through death benefits.

Now, to help you with the single premium life insurance in Connecticut, we must first define it. Here, the insured person who avails this is actually paying for only one premium in one up-front payment. This will work well for people who have an adequate amount to fund it from a salary bonus or a cash gift during a special event like wedding, birthday or graduation. It may be coming from our own savings or even a good profit from a business venture. Wherever it will come from, the idea here is to set a relatively higher amount to avail it.

With this type, you no longer have to worry about missing payments for the succeeding years. You do not need to regularly set aside money for you to settle payments of regular premiums. You will have a peace of mind that your insurance is fully funded, fully secured and covered and you will just wait for the time you can reap its rewards.

Another thing you can take advantage of in this kind of policy is that when the time comes you are undergoing a rough financial situation, you can loan from it. So it would be better for you to start as early as possible so that the interests can build up and the death benefits can be higher when this time comes.

Also, it offers a tax break, which means you do not have to worry about paying taxes for it.

See you again, Ellen!

Would I need to undergo a medical exam before I can get a life insurance company here in Connecticut?

Blake

Stamford, CT

It is not always necessary for you to undergo a physical or medical exam in order to qualify for a life insurance policy there in Connecticut (or anywhere for that matter). This has not always been the case though, in the past when there was not much competition, you had to work with the life insurance provider’s terms and that would include taking a medical exam to assess your longevity and to minimize the risk that the life insurance company might have to pay death benefits in the near future for you.

The Internet has been very instrumental in fostering competition in the life insurance industry. Now there are more providers and companies competing for your business with policies that features guaranteed life insurance coverage and No-Exam requirements. There are a few things you should know though, before turning your back on a provider requiring you to get a physical or medical exam.

Most No-Exam or Guaranteed Life Insurance policies costs much more, compared to the life insurance premiums rates you might get if you have undergone the exam. If you are still young, with no serious illness or debilitating medical conditions or, otherwise, is in general good health, than there shouldn’t be anything significant for you to hesitate getting that exam. Most guaranteed life insurance take advantage of those people who are unable to pass the exam due to medical or other reasons, hence they are charged more.

I want to purchase term life insurance in Connecticut that would only financially protect my family when something happens to me. What is the right insurance for me?

Daniel

Bristol, CT

If you want to protect your family from debt in the event of you death, you may want to purchase term life insurance or “pure insurance protection”. This type of insurance covers your family in a specified period of time. The time ranges from 1 to 30 years.

Like any other types of insurance, medical exam may be one of the application requirements for insurance policy. The exam will help the company to assign the correct insurance policy by looking at your health history, results of urine and blood test and other information like your height and weight. The medical result, and with other life insurance rates determinants, will determine whether the company will approve our application or increase your life insurance rates. Having bad health conditions will likely have higher premiums than those who are in good health conditions because of the risk of dying soon. The condition will depend on how the insurance company categorizes you according to the risks factors.

Other determinants of insurance rate are age. As you age, the higher your insurance premiums may be. At the end of the term, some insurance companies allow you to renew the policy without getting another medical exam. You can ask for a “level premium” policy if you want to lock your insurance
premium to a certain rate. The premium will only rise when the term ends.

If you have a medical illness and have difficulty in finding a life insurance company, you can apply for the guaranteed issue term life insurance coverage. This no longer requires medical exam but you will pay higher premiums because of the huge risk of insuring you.

For more information on Connecticut term life insurance, you can contact your insurance agent.

I recently moved here to Connecticut and I’m wondering what kind of life insurance should I get?

Joey

Bridgeport, CT

Hey, Joey! If you want to get insurance, the perfect way to start is by calling an insurance agent. Have the agent explain to you the pros and cons of a whole life insurance and a term life insurance. Make sure that your agent is within Connecticut in order for you to be able to contact them in case you have questions or clarifications about your purchased policy.

A whole life insurance policy will give you death benefits as well as the option for fixed premiums. With fixed premiums, you have the option of paying the same amount of money for your policy for as long as you have it. Just make sure that you are consistent with your payments and dues. Also, you can withdraw some money from your insurance anytime and not be worried about paying it back.

Unlike term life insurance that only offers death benefits, with whole life insurance, there are benefits that you can get while you’re still alive through the creation of a money value. This commonly takes about ten years or so for your whole life insurance to accumulate money value or cash value.
Of course, you have to pay higher premium rates to receive a higher pay out. As long long as you are insured, you’ll have to pay the premiums for its duration until the time of your death. But there are types that offer a set amount of rates that keeps you insured for a lifetime while paying the premiums for a specific period of time only.

On the other hand, a term life insurance is more affordable than a whole life insurance. Although sometimes companies have adjustable premiums that they can control based on changes that may occur on the policy holder’s life. Be sure to call your local insurance agent to learn more about your options. Good luck! I hope you find new friends.

My business is pretty much hands-on. As it’s just starting out, I don’t think I can set aside time to go to the hospital for a full medical. Would it still be possible to get life insurance coverage here in Manchester, CT?

Randall

Manchester, CT

Time really is a big constraint, Randall. Not to worry, though, you can already lodge applications, even get approval for life insurance coverage in most areas in the US, including Manchester, CT, without undergoing medical check-ups or exams. This is what is usually known as no exam life insurance.

If you intend to apply for no exam life insurance, you must consider the pros and cons first. Get free life insurance quotes online from insurers in Manchester, CT. You can do this by keying in your zip code on the space on this site. Get a couple, even five quotes from different insurers so that you can estimate the range of possible insurance premiums.

You ought to compare the costs of no exam and with exam life insurance coverage, too. No exam life insurance is usually a bit higher in cost than with exam life insurance. If you really can’t find the time, you can skip this step. However, if going to the hospital for a medical exam is a negotiable option for you, you may as well check the cost difference for the same coverage that you require.

You may also want to compare whole life and universal life insurance policies. The former provides guaranteed benefits at a set premium while the latter provides more opportunity for increased benefits but at the same time, introduces an element of risk wherein your benefits may actually decrease.

Remember, Randall, choosing life insurance is like deciding on your business, a lifetime investment, so you have to think it through thoroughly before you decide to commit.

My days are full so don’t really have time to meet with agents. How can I get life insurance here in Bristol, CT, if I only have time after regular office hours?

Connie

Bristol, CT

I do understand your dilemma, Connie. A lot of people have similar time constraints. When you’re in a nine to five job, you don’t usually have day time to spend on personal errands. The one hour lunch break certainly won’t be enough to eat lunch, commute to your insurance agent’s office, discuss available life insurance policies then commute back to the work place. Once you’re off, other offices are usually closed. The discussion time probably won’t be enough to really weigh the pros and cons of each type of insurance available. Plus, it’ll be a real struggle to meet with several different insurance agents. You’ll probably end up with the first insurance offer from the first insurance agent you meet with in Bristol, CT just to get it done in time or out of the way.

Well, Connie, technology has pretty much changed that situation. Now, you don’t have to miss lunch or shorten the discussions on life insurance terms and conditions. You can compare terms and costs from various insurance agents in Bristol, CT from the privacy of your own home at your own time. Free life insurance quotes from your locality are readily available online by just entering your zip code on the forms. I suggest you obtain several free quotes, even vary the inclusions, so that you can be fully informed before you decide what you want and how much you are willing to pay. You don’t need to make a harried decision you’ll regret later on.

I’ve been meaning to get life insurance for some time now but work at the University makes it hard for me to leave my desk. Is there some way for me to get life insurance without me having to personally meet with an insurance agent here in Stamford Connecticut CT?

Charles

Stamford Connecticut CT

Hi Charles! The hustle and bustle of University life must not give you much free time to leave Campus. Well, not to worry, Charles, you can get information on a life insurance policy without leaving your desk. The wonders of modern technology, especially the internet, have greatly impacted the insurance business. You can, now not just apply for a life insurance policy online, but also request for a no exam policy. Some insurers in Connecticut call this the instant life insurance policy or the no exam life insurance policy.

Really, Charles, you can’t imagine the convenience! But, there are down sides to it, of course. You see, not being able to actually see you or waiving your pre-existing conditions, which is essentially what insurers do when they give you an instant life policy quote for a no exam life insurance policy, actually makes you appear of higher risk than the average Joe; hence, your premiums could be on the high side. You can actually get free quotes to check the range of premiums cost for the no exam life insurance policy based on the instant life insurance policy quote – just type in your zip code on the space on this site. Getting several free quotes will allow you to choose the best insurance policy for you, without actually having to meet with a local insurance agent there.

Last year, I found that I had breast cancer 7 years ago, at the age of 18. It was diagnosed early so treatment was successful. I have been in remission for over 4 years now. At 25, I know I should have gotten life insurance long ago but because of what I’ve been through, I’m afraid to ask for coverage. Do you think insurers here in Fairfield Connecticut will still be willing to provide life insurance coverage to a cancer survivor?

Natalie

Fairfield Connecticut CT

Dear Natalie, I’ve always admired strong women like you who experience major life challenges yet manage to move on to live a normal life. Of course, you can still get life insurance, Natalie! Some insurers in Connecticut will probably not even consider you a cancer patient anymore after five years in remission. Certainly, some insurers may still consider the risks of recurrence but you’re obviously a smart young professional woman, and that will also figure into their assessment of your application for life insurance coverage.

In fact, your being a cancer survivor will not even prevent you from taking advantage of the no exam insurance policy being offered by some life insurance companies in Connecticut. Traumatized by their experiences in hospital, some find it a relief to be able to avoid further medical examinations, which are usually required as part of the application process for a life insurance policy. However, Natalie, it is important that you do not hide the fact that you have already been treated for cancer as this may be grounds in future for the insurer to rescind your coverage. While it may redound to more expensive premiums, full disclosure of pre-existing conditions assure that you have no legal problems in future.

I suggest that you fill in your zip code on the form on this site so you can get free quotes, which will give you a good idea on the possible range of no exam life insurance policy premiums suitable for you. I wish you the best of luck on your search and in life, Natalie!

After I was rejected from an insurance application due to my diabetes problem, I’ve never tried to re-apply ever again. But here in New Haven , I’ve learned from an insurance agent that it’s now possible for me to get a life insurance without under going into a medical examination. I don’t have any Idea if this is happening or not, any clue?

Carl

New Haven, CT

Good day! To you Carl,

I know and I deeply understand your sentiments Carl, you are not getting an approval from insurance company due to your current health condition. Actually you are being required to get this kind of test for the purposed of the insurance company’s protective measures in taking the risk of providing you coverage.

Yes! What you’ve learned is actually true and I think this is great news for everyone out there who is having a hard time in getting an approval from life insurance companies. Aside from the fact that it’s going to be a fast and convenient process, this is also advantage to all individual other who are currently experiencing problems with there health. Also individual who are currently insured and wants to have additional insurance, then this is the time that you’ve been waiting for.

The only thing that you will do for a no exam life insurance policy in Connecticut is to provide answers some basic questions. This way there is no need to set up an appointment with a medical professional or doctor to confirm your health status. It will reduce your effort in supplying blood or urine sample or having your blood pressure taken.

Another good news of this no-exam-life insurance in Connecticut is the guarantee of being 100% free of tax 10 days after delivery just incase you change your mind and you decided to change your policy. Much more it also provides a money back guarantee, if ever you back-out and return the policy with in the period of 10 days.

The internet is always waiting for you to apply for this type of life insurance. Also free quotes are available on the internet for interested parties, just type your zip code on the space provided on this page. Setting up a meeting with your local life insurance agent there is another option for you to ask your queries and get the answer first hand.