Montana Life Insurance provides cheapest life insurance options and information. 476 life insurers invest approximately $10 billion of their assets in Montana’s economy. 2 life insurance companies are domiciled in the state. 2,000 people in Montana are employed by life insurance companies.360,000 Montana residents are covered by individual life insurance policies and have $60 billion in death benefit coverage. The average cheapest life insurance coverage amount is $110,000 per person. There’s $20 billion in group life insurance coverage. In 2008, $820 million was paid to Montana residents in the form of annuities, dividends, and death benefits.

Montana Life Insurance Regulations

Montana statutes and laws outline claims procedures and policy requirements in the state. Customers are protected by a thirty-day grace period on late premium payments. Life insurance companies cannot cancel a policy because of failure to pay during this grace period. All claims must be settled by Montana life insurers within 2 months. Companies can cancel life insurance policies if a misstatement is discovered within the first 2 years from the effective date of the policy. A misstatement of age on the policy will lead to recalculation of the premiums.

Montana Health Facts

The average life expectancy in Montana is 77 years. The state ranks 25 out of 50 in terms of life expectancy. The data was taken from the American Human Development Report (2008-2009).

Over 1 million people live in Montana, 15% of the population is uninsured. The average annual income is $42,000. More information about state demographics, economy, health costs, and insurance coverage can be found at

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Montana Department of Insurance

840 Helena Avenue Helena, Montana 59601

Web site:

Phone: (406) 444-2040

Consumer Hotline: (800) 332-6148 (In-state only)