Connecticut General Life Insurance Company

The Connecticut General Life Insurance company is a Connecticut based insurer that is wholly owned and operated ultimately by Cigna. Although the carrier offers Group Life Insurance products their main specialty is in Medical, Dental, and Supplemental Medicare policies. They carry a financial strength rating of an A.

The Connecticut General Life Insurance company is a privately held life, disability, accident, and health insurance organization. The president of the organization is Julia Huggins.  They are a division of Connecticut General Corporation. The Connecticut General Life Insurance Corporation also goes by the name known as CIGNA.  CIGNA is a publicly traded company that is best known for its medical insurance offerings.  In this article we occasionally refer to Connecticut General Life Insurance as CGLI or Connecticut General.

Although not a big seller of life insurance products, Cigna has sold plenty of life insurance policies.  Looking at the website these days though it might be hard to find information about their life products.  The company is most focused on selling and servicing health insurance, medical products, medicare supplemental programs, and dental insurance.

Formed by the Merger of the Connecticut General Life Insurance Company and INA Corporation, Cigna was created in 1982.  INA, or Insurance Company of North America has its roots that go back as far as 1792.  While Connecticut General Life (CG) goes back as far as 1865.

CIGNA sold much of its life insurance business to Lincoln National  in 1997.  In 2015 Cigna and Anthem seemed to agree to a merger.  The US Department of Justice blocked this proposed merger and it was later called off.

CG and Cigna mainly offer health, dental, and medicare supplemental insurance products.  They have in the past offered Group life insurance which is often available through some employers.  As far as independent term life insurance policies, they no longer seem to offer it.

• Health Insurance
• Medicare Supplemental
• Dental Insurance
• Group Term Life
• Group Universal Life

For the Group Life Insurance policies, some riders that might be available with Cigna Group life include:

• Conversion: Convert a Term Policy to a Whole Life Contract.
• Portability:Move a Group Life Insurance Policy to a Personal Contract.
• Waiver of Premium: Waive your premium payments upon some specified event.
• Terminal Illness Rider: Get access to the death benefit early.
• Pay Role Deduction: Automatically pay your policy from your paycheck.
• Automatic Yearly Increase: Potentially increase yearly coverage amounts.

This is not a complete list and the list does change.  Most of these are becoming relatively common group life insurance riders.

If you have a Connecticut General policy and need service on it, you should consider either contacting your agent or Connecticut General Life Insurance company direct.  Their number is 860-226-6000.

The insurer has gone through a merger and split. Since Lincoln financial purchased CGLI life insurance business in 1997 its possible your policy could now be a Lincoln product.

Have your policy number, full name, and address prepared.  For confirmation purposes they may ask for your social security number.

The Connecticut General Life Insurance companies Financial Strength Rating is "A".  This is two steps below the top rank of A++, with A+ being the other second top rank.  AM Best considers this superior.  The last rating update was in January of 2019.

The Policyholder Surplusrating is XV.  Which indicates lots of surplus capital, in excess of $2 Billion US Dollars.

Their FSR has been an A since before 2014.

CIGNA and CGLI has an "exceptionally" confusing parent organization and understanding CIGNA's corporate finances might be all but impossible.

A Financial Strength Rating

XV Policyholder Surplus

Cigna was allegedly involved in earnings manipulation in 2002. "The complaints allege, among other things, that the defendants violated SEC Rule 10b-5 by misleading CIGNA shareholders with respect to the company’s performance during the class period." Source SEC Form 10-K

In 2016 Cigna was temporarily banned "from offering certain Medicare plans to new patients after a probe uncovered issues with current offerings."  USA Today: Cigna Temporarily Banned From New Medicare Plans.

According to Bloomberg: "Drug middlemen took $123.5 million in hidden fees from Kentucky health-insurance plans that cover the state’s poor, according to a report that follows efforts by other states to find out if pharmacy-benefit managers are gaming state programs for profits....Companies that run PBMs, including CVS Health Corp. and Cigna Corp., say that clients enter into spread-pricing agreements knowingly...."

None of these really seems to involve (much) their life insurance business.

Should you have questions about this insurer or life insurance kindly send them to us.  You can add them to the comment box below or email us directly.  scott at marindependent.com

Whole Vs Term Life Insurance does not sell service or process life insurance business with Connecticut General Life Insurance.