Short answer: Every individual life policy delivered in Connecticut must carry a notice that you can return it for cancellation within ten days after you receive it, and the policy is then void from the start. Since 2015, insurers must also tell applicants they can name a third party to get cancellation notices for nonpayment.
This guide is general consumer information for Connecticut life insurance buyers. It isn't legal advice or a coverage determination. Policy wording, underwriting and the statutes linked below control.
Ten-day return notice
Conn. Gen. Stat. 38a-436 requires every individual life insurance policy delivered or issued for delivery in Connecticut to have a notice printed on or attached to it saying the applicant may return the policy for cancellation by delivering or mailing it to the insurer or to the agent through whom it was effected, at any time within ten days after receipt. On delivery or mailing, the policy is void ab initio.
Name a backup person for lapse notices
Under 38a-436a, insurers that issue individual life policies in Connecticut on or after January 1, 2015 must tell applicants in writing, at application, that they can designate a third party to receive notice of cancellation for nonpayment of premium. You can make the designation at application or any time while the policy is in force. It's a simple safeguard for older owners or anyone who travels.
Insurer financial strength
Questions about whether a life insurer is financially sound should go to the Connecticut Insurance Department, not to marketing materials.
Questions? Contact Alishahi Insurance or call (877) 711-4545. See insurance in Connecticut.
Frequently asked questions
How long do I have to return a Connecticut life policy?
Ten days after you receive it, under Conn. Gen. Stat. 38a-436.
Can someone else get my Connecticut lapse notices?
Yes. Under 38a-436a you can designate a third party to receive nonpayment cancellation notices.
Alishahi Insurance · 439 N Canon Dr, Penthouse, Beverly Hills, CA 90210 · (877) 711-4545 · CA License #4348151. General information only. This isn't legal, tax or financial advice or a coverage determination. Coverage depends on policy language and underwriting, and rules vary by state.