Maine Life Insurance

SaveOnLifeInsuranceNow.com is your source for all cheap life insurance related information. Approximately 360 life insurance companies are licensed to offer life insurance policies in Maine. Two of these companies are domiciled in the state. Over 5,000 people in Maine are employed in the life insurance industry.Maine residents purchased individual life insurance coverage totaled $5 billion. There are over 500,000 individual life insurance policy owners in the state. The average amount of coverage is about $100,000 per policyholder. Group life insurance coverage totals $40 billion. In 2008, approximately $1 billion was paid in the form of death benefits and dividends.

Maine Life Insurance Regulations

Title 24 of the Maine Insurance Code regulates claims procedures and policy requirements. All policies include a 30-day grace period on late premium payments. Maine law does not require a “free look” provision, depending on a life insurer, consumers may still be offered from 1o to 30 days to cancel the purchased life insurance policy and get a full refund. Compare cheap life insurance quote online!

Life insurers in Maine have up to 2 years to find any misstatements on a policy or application. If any misstatements are found, a policy can be canceled.

Maine Health Facts

Main ranks 20 out of 50 states for life expectancy. Life expectancy at birth is 77 years. The data was taken from the American Human Development Report (2008-2009). The state’s population is 1,3 million people, and 10% of them are uninsured. The median annual income is $48,000. The major causes of death in Maine are heart disease and cancer. More information about state demographics, economy, health costs, and insurance coverage can be found at www.cdc.gov.

SaveOnLifeInsuranceNow.com provides you with cheap term life insurance quotes in 30 seconds! Enter your zip code to start your quote.

Maine Department of Insurance

Bureau of Insurance

34 State House Station

Augusta, Maine 04333-0034

Web site: http://www.maine.gov/pfr/insurance

Phone: (207) 624-8475

Toll-free: 1-800-300-5000 (In-state only)

Search Maine governmental site for more information:

http://www.maine.gov/portal/index.php