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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.
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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.
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Connecticut General Financial Ratings
Standard & Poor's: AA
A.M. Best: A- (Excellent)
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