North Dakota Life Insurance

SaveOnLifeInsuranceNow.com providers consumers with cheapest life insurance quotes in all 50 states. There are 475 licensed life insurance companies in North Dakota. The life insurance industry provides $220 million in mortgage loans and employs approximately 3,000 people in the state. In addition, life insurers invest approximately $8 billion of their assets in North Dakota’s economy.

Over 400,000 residents are insured under individual life insurance policies (it’s $50 billion in death benefit coverage). The total amount of group life insurance policies in the state is $10 billion. In 2008, the amount of individual life insurance coverage sold was $4 billion.

North Dakota Life Insurance Regulations

Title 39 of the North Dakota Revised Code regulates life insurance claims and procedures in the state. New policyholders can decline the coverage purchased during the so called 20-day “free look”. According to this code, all North Dakota insurance companies must settle claims within 60 days after they received proof of death. If suicide is the cause of death, no claims will be honored in this case (for the first year of a policy). If any misrepresentation is found on the application within the first 2 years, the policy can be canceled by a life insurer who issued a discount term life insurance policy.

North Dakota Health Facts

North Dakota ranks 8th out of 50 for life expectancy. The average life expectancy is 78 years. The data was taken from the American Human Development Report (2008-2009).

Less than a million people lives in North Dakota. 11% of the population is uninsured. The average income is $49,000. More information about state demographics, economy, health costs, and insurance coverage can be found at www.cdc.gov.

SaveOnLifeInsuranceNow.com will match you with some of the state’s top life insurance carriers. Find cheapest life insurance in North Dakota!

North Dakota Department of Insurance

600 E. Boulevard Avenue, Dept. 401

Bismarck, North Dakota 58505-0320

Web site: http://www.nd.gov/ndins

Phone: (701) 328-2440

Consumer Hotline: (800) 247-0560