Georgia Life Insurance

SaveOnLifeInsuranceNow.com will help you save up to 75% on Term Life Insurance. Get the cheap life insurance quote now. More than 30,000 people are employed in the life insurance industry in Georgia. Approximately 480 life insurers are licensed to issue cheap term life insurance policies in Georgia and 15 of them are based in the state. Life insurance companies invest about $70 billion of their assets in stocks and bonds. This helps finance business development, job creation, and services in Georgia.

5 million individual life insurance policies are owned by Georgia residents. The average amount of coverage is approximately $100,000 per policyholder. In 2008 more than $60 billion of individual life insurance coverage was bought. Georgia residents were paid $9 billion in the form of dividends, death benefits, and other payments in 2008.

Annuity benefits paid in the state in 2008 totaled $1 billion.

Georgia Life Insurance Regulations

The insurance industry in Georgia is regulated under Title 33 of the Official Code of Georgia. Consumers have 10 days to accept or decline a new cheap term life insurance policy. In case of overdue payments, life insurance companies allow a grace period of 30 days. No policy can be canceled due to the late payment during these 30 days. Claims are usually made within a month of the receipt of proof of death. Georgia life insurance companies may refuse to pay claims if they find any misstatements on the policy. A misstatement of age will usually only result in a recalculation of benefits.

Georgia Health Facts

Georgia has a life expectancy of 75 years, the state ranks 41 out of 50 for life expectancy. The data was taken from the American Human Development Report (2008-2009).

The total population in Georgia is 9 million people. The average median income is $46,000. 19% of population is uninsured. More information about state demographics, economy, health costs, and insurance coverage can be found at www.cdc.gov. Find cheap term life insurance quotes now. Compare Georgia life insurance rates today.

Georgia Department of Insurance

2 Martin Luther King, Jr. Drive

West Tower, Suite 704

Atlanta, Georgia 30334

Web site: http://www.gainsurance.org/

Phone: (404) 656-2070 or (800) 656-2298

Fax: 404-657-8542

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