California Life Isurance

Compare up to 10 cheap life insurance quotes at There are 480 life insurance companies licensed to issue cheap life insurance policies in California. They invest approximately $530 billion of their assets in California’s economy. 20 of life insurers are based in the state.

California residents own over 10 million individual life insurance policies. The average life insurance policy coverage is $200,000 per policyholder. The life insurance coverage bought by individuals in 2008 was $230 billion. The amount of group life insurance coverage purchased is over $1 trillion. California residents were paid $50 million in the form of death benefits and dividends in 2008.

California Life Insurance Regulations

Part 2 of the California Insurance Laws regulates the life insurance claims, policy requirements and procedures in the State of California. Consumers are guaranteed a “free look” period of 10 to 30 days to cancel the policy at any time for a full refund. There’s also a 30 days grace period to pay the premiums before the cheap life insurance coverage will be terminated. Claims should be processed within 30 days of receiving proof of death.

California Health Facts

According to the state health data provided by, the population of the state is 36 million people, with a medial annual income of $56,000. California ranks 10th out of 50 states in terms of life expectancy at birth. The life expectancy in California is 78 years.

More information about state demographics, economy, health costs, and insurance coverage can be found at, your online source for credible health information.

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California Department of Insurance

300 Capitol Mall, Suite 1700

Sacramento, California 95814

Phone: (916) 492-3500 (Insurance Commissioner)

Fax: (916) 445-5280

Web site: