Finding the right life insurance policy in Connecticut can prove challenging simply because of the sheer number of life insurance companies you have to choose from. We narrowed down the search for you by picking the best life insurance companies in Connecticut based on price, customer satisfaction, transparency, and financial strength. We also calculated the average cost of coverage in the state, and listed the state laws that protect you as a policyholder.
Best life insurance companies in Connecticut
Best overall: Legal & General America
Cheapest: Legal & General America
Best term life insurance: Legal & General America
Best no-medical-exam life insurance: Brighthouse Financial
Best whole life insurance: MassMutual
Best for seniors: Prudential
Best for young adults: Brighthouse Financial
Best for people with pre-existing conditions: Lincoln Financial
Best for marijuana users: Lincoln Financial
Best for smokers: Legal & General America
Best overall life insurance
Legal & General America, which also does business as Banner Life and William Penn, is the best overall life insurance company in Connecticut. It offers competitive rates to healthy adults and applicants with certain pre-existing conditions. The company also provides a variety of term length options for applicants to choose from, ranging up to 40 years.
Legal & General America is well positioned in the life insurance industry, with high financial security and low customer complaint ratings of 0.35, compared to the national average of 1.00.
Cheapest life insurance
Legal & General America
Connecticut residents of all kinds can find affordable life insurance rates with Legal & General America, including applicants with pre-existing conditions and lifestyle factors that tend to affect life insurance premiums.
Best term life insurance
Legal & General America
Term life insurance provides coverage to the policyholder for a certain number of years, with the policy expiring at the end of that time frame. Legal & General America offers affordable term length policies with up to 40 years of coverage.
Best no-medical-exam life insurance
Qualifying Connecticut residents can apply for no-medical-exam life insurance to skip the health exam and use their medical history to get a policy fast. These policies are more expensive but offer quick approvals, and may cover some applicants who couldn’t otherwise get life insurance. Brighthouse Financial covers up to $2 million in death benefits for its no-medical-exam policies and can process applications as quick as 24 hours.
Best whole life insurance
For a rate that’s five to 15 times more expensive than term life, whole life insurance will cover the policyholder for their entire life. Whole life policies also feature a cash value component for savings and investment, and even pays dividends to policyholders when the company performs above financial expectations. MassMutual is our pick for best whole life insurance because it pays higher dividends than competing insurers.
Best for seniors
Connecticut seniors age 60 and above will pay more for life insurance than younger applicants, so it pays to seek out affordable coverage. Prudential offers good rates to seniors including applicants with certain types of pre-existing conditions.
Best for young adults
Young adults in Connecticut can find cheap policies with many life insurance companies. But Brighthouse Financial offers some of the best rates for young adults out there, with a quick application process and flexible income requirements for Connecticut college students.
Best for people with pre-existing conditions
Certain types of pre-existing conditions can affect how much an applicant will have to pay for life insurance, so consumers with medical conditions should shop around for the best rate. Lincoln Financial offers competitive rates for applicants who have a wide range of health conditions.
Best for marijuana users
Many life insurance companies automatically classify marijuana users as smokers, which means they’ll pay much more for life insurance than those with a non-smoker classification. But Lincoln Financial offers marijuana users non-smoker rates, making them one of the most affordable options.
Best for smokers
Legal & General America
Because of the health risks associated with tobacco, smokers have to pay two to three times as much for life insurance than non-smokers. But Legal & General America offers Connecticut smokers some of the best smoker rates around. Plus, policyholders who quit smoking for one year can apply for a rate reduction, compared to the minimum two-year waiting period that many other insurers require.
Comparing the best life insurance companies in Connecticut
Types of policies
5.0 / 5
No-medical-exam life, young adults
Term life, no-medical-exam life, whole life, short-term life, universal life
Legal & General America
4.9 / 5
Overall, cheapest, term life, smokers
Term life, no-medical-exam life, universal life
4.9 / 5
Term life, no-medical-exam life, whole life, universal life, variable universal life
4.8 / 5
Marijuana users, people with pre-existing conditions
Term life, no-medical-exam life, indexed universal life, variable universal life
4.1 / 5
Term life, no-medical-exam life, short-term life, universal life, indexed universal life
What is the average cost of life insurance in Connecticut?
Factors that affect the cost of life insurance include the age of the applicant, their medical history, the length of the term, and the amount of the death benefit.
Based on Policygenius data from 2023, the average monthly premium for a healthy 35-year old in Connecticut purchasing a $500,000, 20-year term life insurance policy is $30.79 for men and $25.76 for women.
What happens if a life insurance company goes bankrupt in Connecticut?
In the rare event that a life insurance company ever goes bankrupt, the Connecticut Life and Health Insurance Guaranty Association will intervene to provide coverage to affected state residents.
If an insurance company fails to fulfill its financial obligations to policyholders and is found insolvent, the liquidator and/or the guaranty association will notify affected policyholders. The guaranty association will cover up to $500,000 in life insurance death benefits and up to $500,000 in cash surrender value, as long as the policyholder continues to pay their premiums.
It’s worth noting that in most cases, the guaranty association in the policyholder’s state of residence at the time a company is liquidated is responsible for providing coverage.  Most states have outlined specific laws for this scenario.
How to find a lost life insurance policy in Connecticut
Consumers can search the National Association of Insurance Commissioners’ Life Insurance Policy Locator Service to locate life insurance policies when someone dies.
Connecticut life insurance laws
Connecticut life insurance policyholders receive protections from laws that govern how life insurance policies must function in the state.
Free look period
New policyholders in Connecticut get a minimum free look period of 10 days to review their policy. If they wish, they can cancel the policy and receive a full refund of all premiums they paid as long as they do so within the 10-day time frame.
Guaranty Fund protection
The Connecticut Life and Health Insurance Guaranty Association covers life insurance death benefits of up to $500,000 and cash surrender value of up to $500,000 for Connecticut policyholders whose life insurance company becomes insolvent.
In Connecticut, the contestable period for a new life insurance policy lasts for two years from the date the policy is issued. During the contestable period, life insurance companies can refuse to settle a claim if they find fraud or misrepresentations on the policyholder’s application.
Grace period for missed payments
Connecticut policyholders have a 60-day grace period for premium payments. This means that they get 60 days to make up for a past due payment before the life insurance company is legally allowed to cancel the policy for nonpayment.