Hawaii Cheap Life Insurance

SaveOnLifeInsuranceNow.com providers consumers with affordable life insurance quotes from top providers in Hawaii. Over 400 life insurers are licensed to do business in Hawaii and 4 life insurance companies are based in the state; over 2,000 people are employed in the life insurance industry. Hawaii residents have $100 billion in death benefit coverage. 580,000 people own life insurance policies, and the average amount is $130,000 per policyholder.

The total amount of cheap life insurance coverage bought in 2008 by individuals was $8 billion people. Group life insurance coverage amounts to $30 billion. $2 billion was paid to Hawaii residents in the form of death benefits and other payments in 2008.

Hawaii Life Insurance Regulations

The insurance industry in the State of Hawaii is regulated under Title 24 of the state’s code. The 10 day “free look” provision allows consumers to choose to decline cheap life insurance coverage at any time during this period. Life insurance companies should process all claims within 30 days of the settlement date.

All policyholders are also entitled to the release of medical information upon request. Life insurance companies can deny low cost life insurance coverage to applicants who misrepresented themselves on the application.

Hawaii Health Facts

Hawaii has the highest life expectancy, 80 years, among all 50 states. The data was taken from the American Human Development Report (2008-2009). Approximately 1.2 million people life in the state of Hawaii. The percentage of uninsured population is 8%. More information about state demographics, economy, health costs, and insurance coverage can be found at www.cdc.gov

Hawaii Department of Insurance

Department of Commerce & Consumer Affairs

335 Merchant Street, Room 213

Honolulu, Hawaii 96813

Web site: http://www.state.hi.us/dcca/ins

Phone: (808) 586-2790;

Insurance Fraud Branch: (808)586-2796

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