Idaho Life Insurance

SaveOnLifeInsuranceNow.com offers cheap life insurance quotes from multiple insurers in your state. The life insurance industry generates approximately 2,000 jobs in Idaho. There are over 470 life insurance companies licensed to do business in Idaho. Only one life insurer is domiciled in the state. The amount of group life insurance coverage is over $30 billion. Approximately 510,000 state residents are covered by individual life insurance policies. The average amount of coverage is $130,000 per policyholder. Idaho residents were paid $2 billion in the form of benefits, dividends, and other payments in 2008.

Idaho Life Insurance Regulations

Title 41 of the state’s code regulates the insurance industry in Idaho. Under these laws, Idaho insurance companies are required to provide consumers with a 30-day grace period on late premium payments. The policy remains in force and can not be terminated by a life insurer during this time.

The 20 day “free look” period is given to all new policy holders and allows them to cancel the coverage without financial penalty. All claims are settled within two months. The company may terminate the coverage if they discover any false statements made on the application within the first two years.

Idaho Health Facts

The average life expectancy is 77 years. The state ranks 15th out of 50 for life expectancy. Approximately 1,5 million people life in the state of Idaho. 15% of population of the state is uninsured. More information about state demographics, economy, health costs, and insurance coverage can be found at www.cdc.gov

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Idaho Department of Insurance

Department of Insurance

700 West State Street, 3rd Floor

P.O. Box 83720

Boise, Idaho 83720-0043

Web site: http://www.doi.idaho.gov

Phone: (208) 334-4250

Consumer Hotline: 1-800-721-3272

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