Alabama Life Insurance

Compare cheap life insurance quotes at SaveOnLifeInsuranceNow.com. 462 life insurers are licensed to issue cheap life insurance policies in Alabama and 12 are domiciled in the state. There are 7 million individual life insurance policy holders in the state of Alabama. The average amount of coverage is about $41,000 per policyholder. The amount of group life insurance coverage is over $100 billion.

Alabama residents have $340 billion in death benefit coverage. According to the 2008 data, the amount of individual life insurance coverage purchased in Alabama was $30 billion, and over $4 billion was paid to Alabama residents in the form of death benefits and life insurance policy dividends.

Alabama Life Insurance Regulations

Title 27 of the Code of Alabama regulates the insurance industry and protects consumers in Alabama. A “free look” provision is part of every life insurance policy. It usually lasts from 10 to 30 days and allows consumers to cancel a life insurance policy at any time during this free look period. There’s also a 30-day grace period on late payments.

Alabama Health Facts

Life expectancy in Alabama is 74.4 years. United States average is 78 years. Alabama ranks 48th out of 50 states in terms of life expectancy. The data was taken from the American Human Development Report (2008-2009)

More information about state demographics, economy, health costs, and insurance coverage can be found at http://www.statehealthfacts.org

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Alabama Department of Insurance

201 Monroe Street, Suite 1700

Montgomery, Alabama 36104

Web site: http://www.aldoi.gov

Phone: (800) 433-3966

Email: insdept@insurance.alabama.gov

Mailing Address:

P.O. Box 303351

Montgomery, Alabama 36130-3351