Louisiana Life Insurance

SaveOnLifeInsuranceNow.com provides a detailed information about affordable life insurance options in Louisiana. Approximately 540 life insurance companies are licensed to issues life insurance policies in Louisiana. Over 40 life insurers are domiciled in the state. The life insurance industry generates about 10,000 jobs in the state.

Louisiana residents own 4 million individual life insurance policies. The average coverage amount is $60,000 per policyholder. Group life insurance coverage amount is over $100 billion, with $330 billion in death benefit coverage. In 2008, annuity benefits paid to Louisiana residents were $800 million.

Louisiana Life Insurance Regulations

Title 22 of the state’s Revised Statutes regulates the insurance industry in Louisiana. All life insurance policies in Louisiana provide consumers with a 10-day “free look” provision, the time when a potential life insurance buyer can choose to accept or decline the cheapest term life insurance coverage and still receive a refund.

Louisiana life insurance companies must settle all claims within 2 months of receiving the necessary documentation and disclose the medical information in a timely manner. Claims where a suicide is the main cause of death can be put on an exclusion period for up to 2 years.

Louisiana Health Facts

The average life expectancy at birth is 74 years in Louisiana. The state ranks 49th out of 50 for life expectancy. The data was taken from the American Human Development Report (2008-2009). More than 4.3 million people life in the state of Louisiana. 18% of population is uninsured. Louisiana leading causes of death were cancer, stroke and heart disease. More information about state demographics, economy, health costs, and insurance coverage can be found at www.cdc.gov.

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Louisiana Department of Insurance

1702 North 3rd Street

Baton Rouge, Louisiana 70802

Web site: http://www.ldi.state.la.us/

Phone: (225) 342-5900 or (800) 259-5300

Fax: (225) 342-8622

Visit the official website of the state of Louisiana for more information: