Connecticut General Life Insurance (CIGNA)
About the Company
Connecticut General Life Insurance first went into business in 1792 when a group of citizens formed the Insurance Company of North America. In 1865, the governor of Connecticut incorporated the Connecticut General Life Insurance Company (CG). The following are a few highlights of the company's history:
- In 1871 a fire in Chicago burned for two days, destroyed 2,000 acres, and left 100,000 homeless. The company paid $650,000 in claims. They were one of only 51 insurance companies to pay in full.
- In 1906, the company payed a total of $4,772,000 in claims that resulted from the San Francisco earthquake.
- In 1929 the company established a group pension department.
- In 1950 the company introduced medical catastrophe insurance.
- Connecticut General and The Insurance Company of North America combined to form the company CIGNA in 1982.
Term Life Insurance Products
CIGNA's term life products have the following benefits and features:
- Term life policies are a great way to provide your family with financial security while your financial contributions are vital to your family. Term policies are great as a stand alone policy or as a complimentary policy for your permanent policy.
- Some term life policies are designed to cover your mortgage expenses. These policies are usually thirty year polices.
- Terms come in periods of five, ten, fifteen, and twenty years.
- The premiums for a term life policy are much lower than with a permanent policy. This is because a term policy does not accumulate a cash value.
- Your death benefit will only be paid if you pass on while the policy is in effect.
Connecticut General Financial Ratings
Standard & Poor's: AA
A.M. Best: A- (Excellent)
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