New Mexico Life Insurance will help you get cheap life insurance quotes online. Compare rates in New Mexico now. There are 495 life insurance companies licensed to sell life insurance products in New Mexico. Over 2,000 people are employed in the life insurance industry in New Mexico. New Mexico residents own 660,000 individual life insurance policies and have $120 billion in death benefit coverage. The average life insurance coverage amount is $92,000. In 2008, individual life insurance coverage purchased in New Mexico was $7 billion, and $3 billion was paid in death benefits, annuity, and other payments.

New Mexico Life Insurance Regulations

Chapters 59 & 59A of the New Mexico Statutes outline claims procedures and life insurance policy requirements. All insurance claims must be settled within 2 months upon receipt of proof of death. Misstatements on policies can lead to policy cancellation. In case of a misstatement of age, the death benefits will be recalculated (based on the actual age of the insured). Get cheap life insurance quote online, compare up to 5 carriers!

New Mexico Health Facts

The average life expectancy is 77 years. The state ranks 27th out of 50 for life expectancy. The data was taken from the American Human Development Report (2008-2009).

Approximately 2 million people live in New Mexico. 23% of population is uninsured. The median annual income is $43,000. More information about state demographics, economy, health costs, and insurance coverage can be found at

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New Mexico Department of Insurance

P.E.R.A. Bldg., 4th Floor

1120 Paseo de Peralta

Santa Fe, New Mexico 87501.

Web site:

Phone: (505) 827‑4601

Consumer Hotline (In-state only): (800) 947-4722