SaveOnLifeInsuranceNow.com is a life insurance comparison website. Compare cheap life insurance rates in NY now. There are 179 licensed life insurance companies in New York. 85 life insurers are based in the state. The life insurance industry employs invests approximately $350 billion of their assets in New York’s economy and employs 58,000 people in New York.
State residents own 9 million individual life insurance policies and have $2 trillion in death benefit coverage. The average coverage amount is $150,000. In 2008, individual life insurance coverage purchased in New York was $150 billion. In 2008, New York residents were paid $30 billion in death benefits, annuities, and dividends.
New York Life Insurance Regulations
Article 32 of New York Consolidated Law outlines policy requirements and claims procedures. New York residents are protected under 10-day “free look” provision which allows consumers to decline the coverage during this period. New York life insurers provide their policyholders with a 3o-day grace period on late premium payments. All life insurance claims must be settled in 30 days after a proof of death is provided. If the cause of death is suicide, New York life insurance companies are exempt from paying claim. Find cheap life insurance rates online!
New York Health Facts
New York ranks 19th our of 50 sates for life expectancy at birth. The life expectancy in new York is 77 years. The major causes of death are heart disease, stroke, and cancer. The data was taken from the American Human Development Report (2008-2009).
Over 20 million people live in New York. 14% of New York residents are uninsured. The median annual income is $50,000. More information about state demographics, economy, health costs, and insurance coverage can be found at www.cdc.gov.
Compare cheap life insurance rates in New York at SaveOnLifeInsuranceNow.com, see how much you can save!
New York Department of Insurance
25 Beaver Street
New York, New York 10004-2319
Web site: http://www.ins.state.ny.us/
Phone: (212) 480-2301
Fax: (212) 480-2310