Need Connecticut Life Insurance Quotes?

Purchasing life insurance in Connecticut is an important matter and as such, it deserves significant thought and consideration. Several factors may affect your decision regarding the type and amount of life insurance that you choose to purchase. Regulations regarding life insurance vary from one state to the next. Be sure to consider the following facts, when considering the purchase of Connecticut life insurance.

Insolvency coverage is limited to $500,000 in life insurance death benefits but not more than $500,000 in net cash surrender and net cash withdrawal values for life insurance in the event that your insurance provider is unable to fulfill your policy.

In terms of debt collection regarding assets, the beneficiary of any life insurance policy, other than the insured, shall be entitled to the proceeds of the policy as against the creditors of the insured; unless the policy was procured or the designation of a beneficiary was made with intend, expressed or implied, to defraud creditors.

In Connecticut, any of portion of the net taxable estate passing to the surviving spouse is completely exempt from tax; any transfers involving beneficiaries that count as parents, grandparents, adoptive parents, and natural or adoptive descendants are also exempt from tax. The husband or wife or widower or widow who has not remarried of any natural or adopted child, stepchild, brother or sister of the full or half-blood or adopted brother or sister or any natural or adopted descendant of such brother or sister is exempt from tax.

Additional Resources for Connecticut Life Insurance: