Cigna GUL "Cash Accumulation Fund"

This is what my employer offers as my "non-accidental" life insurance (I believe my AD&D insurance is through another carrier). I called my representative for some paperwork in case I was interested in contributing "on the side." I searched the forum and could not find a peep about Cigna, good or bad.

My question is, is this a good option for myself and my family? I have heard the "term vs. WL" and "WL vs. VUL" arguements and know insurance is like an invetment portfolio, what is good for you may not be good for me.

Anyway, I am 37 and my wife is 39 and we have a 3-yr-old daughter. We have employer coverage through both our jobs, but are interested in increasing our coverage to ensure the other spouse is more "well off" is case either one of us passes on, especially on the non-accidental coverage, where our death benefit is more like 8X base salary as opposed to AD&D death benefit of 20x base salary.

I am mainly asking whether CIGNA is a good company and how good/bad a GUL policy is in out situation.

Thanks in advance!

i would only accept the "accidental death" benefit if it is AMAZINGLY cheap. reason is that dying by accidental vs non accidental causes does not impact my family financially. they need what they need and that needs covering first, foremost, and last.

dingo, i would assume with as much as you have read regarding life policies, that you are not using the factor of 8 times your pay as a catch all. rather, i assume that you have actually run the numbers and you have an amount that provides for your family without using some "rule of thumb". further, that it is just for ease of communication that you mention the 8 times amount.

finally, while i will cover myself with employer subsidized life insurance, i am always a big HUGE fan of owning my policies personally. this way you never run the risk of losing that coverage if you leave your employer and you also carry many more options on a personally owned policy than that of an employer sponsored one.

CIGNA is not a life provider, they are a health care insurance provider. as such, the GUL policy you are speaking about is through another carrier and of course, since you dont know who they are ... neither do we.

as far as carriers, i recommend a good mutual company or AIG.

NOTE: i only recommend AIG since i have stock in the company and want it to make lots of money. i personally would not buy an AIG policy, but understand lots of others will ... so i shamelessly shill for the company (till my position is liquidated).

CIGNA is not a life provider, they are a health care insurance provider. as such, the GUL policy you are speaking about is through another carrier and of course, since you dont know who they are ... neither do we.

as far as carriers, i recommend a good mutual company or AIG.


Thanks for the quick reply.

You are right. I did a little more digging on CIGNA's website and it is Connecticut General Life Insurance Company (CGLIC - a Cigna company).

I pay $23/month for the GUL, which has a 4x base pay, a $50k coverage for my wife and I think $10k per child. Now that I lok at it, it doesn't seem like that good of a deal for such a low policy.

The AD&D costs me $11/month for 10x base salary for myself and/or my wife.

Obviously we do not have enough coverage to "live the good life." Then again, throwing in SS benefits (twice) would make up some of the difference with no OOP expenses.

I will look into some of the mutual companies you have mentioned in the past.

as far as carriers, i recommend a good mutual company or AIG.

NOTE: i only recommend AIG since i have stock in the company and want it to make lots of money. i personally would not buy an AIG policy, but understand lots of others will ... so i shamelessly shill for the company (till my position is liquidated).
Good pick!