Temporary insurance, commonly known as short-term coverage, refers to a policy offered by Goodman Insurance Inc., located in Shelton, CT, during the underwriting process.
If you die before the final policy has been approved, your beneficiaries will receive the payout from the insurer.
Therefore, it’s worth noting that the coverage offered by a temporary policy only applies during the waiting period. Connecticut residents can’t purchase it separately!
Can You Apply for Short Term Coverage?
Traditionally, when Goodman Insurance Inc. gives you this policy, it implies that specific preset terms and conditions will guide coverage. The criteria used relies on factors like:
- Your medical history
- Questions related to your health condition
- Current age
Although every insurer operates using a set of requirements set by their team, coverage for Shelton, CT residents is considered varied if the person being insured is older than fifteen days.
However, there’s a maximum age limit of sixty-five years.
The Way It Works
As noted above, your medical history, including certain medical conditions you could be suffering from, can disqualify you from being covered by the short-term policy.
But this doesn’t mean that the same would apply when dealing with the primary plan. If you were to die when using this policy, the death benefits would equal the amount indicated in your coverage.
Connecticut insurers will pay this and may go as high as one million dollars. The short-term coverage becomes operational the moment a receipt for the same gets issued to you.
Under this policy, coverage will come to an end if any of the following events come to pass:
- After sixty to ninety days have passed since you submitted your application for coverage
- If you choose to terminate the policy or ask for a refund from the insurance company
- Once the policy goes into force
- If you get disqualified for any reason
There are many reasons why you should consider investing in a temporary insurance policy. Contact us today to learn more about what the policy can do for you and your dependents.