Florida Life Insurance

SaveOnLifeInsuranceNow.com website helps consumers get affordable life insurance quotes online – as low as $19 per month for $250,000 of coverage. 500 life companies are licensed to issue cheap life insurance policies in Florida. They invest $220 billion of their assets in Florida’s economy. 12 life insurers are domiciled in the state. More than 50,000 people are employed in the life insurance industry in Florida.

Over 8 million of individuals own individual life insurance policies in Florida. The median policy is in the $120,000 range. Based on 2008 numbers, individual life insurance coverage bought in Florida was $110 billion.

Florida residents were paid $20 billion in the form of death benefits and dividends in 2008.

Florida Life Insurance Regulations

Consumers and life insurers are protected under the Florida Insurance Code (FLIN-ADC) which governs claims procedures and cheap life insurance requirements. The “free look” period is usually from 10 to 30 days, and potential policyholders may choose to decline their life insurance policy within this period.

The life insurance policy can not be canceled during the so called 30 day grace period for overdue premiums.

Life insurance companies are required to ask permission before they share your medical records. If you request medical information to be sent to you, it will be sent to a physician of your choice.

Florida Health Facts

The life expectancy at birth is 77 years in Florida, and the state ranks 21st out of 50 for life expectancy. The data was taken from the American Human Development Report (2008-2009). About 18 million people live in the state of Florida where the annual income is $45,000 on average. Over 20% of the population is uninsured. More information about state demographics, economy, health costs, and insurance coverage can be found at www.cdc.gov. Find cheap life insurance quotes in Florida!

Florida Department of Insurance

200 East Gaines Street

Tallahassee, Florida 32399-0305

Web site: http://www.floir.com/

Phone: (850) 413-3140

Fax: (850) 488-2348

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