Oklahoma Life Insurance

Compare affordable life insurance quotes at SaveOnLifeInsuranceNow.com. There are 528 licensed life insurance companies in Oklahoma. 24 life insurers are located in the state and offer all types of life insurance products to the state residents. The life insurance industry invests over $50 billion of their assets in state’s economy.employs approximately 8,000 people in Oklahoma.

There are 2 million individual life insurance policy holders in the stare, the group life insurance coverage amount is $80 billion. There’s more than $220 billion in death benefit coverage. Oklahoma residents were paid $3 billion in the form of annuities, dividends, and death benefits in 2008.

Oklahoma Life Insurance Regulations

Under Title 36 of the Oklahoma Statues all life insurance companies in Oklahoma must provide their new policy holders with 10, 20 or 30-days free look period and a 31-day grace period on late premium payments. Misrepresentation on a policy can be grounds for policy cancellation. Oklahoma life insurance companies must settle all claims within 2 months of receiving proper documentation.

Oklahoma Health Facts

The state ranks 44th out of 50 for life expectancy. The life expectancy in Oklahoma is 75 years (compared to the U.S. average of 78 years). The data was taken from the American Human Development Report (2008-2009)

11.4 million people live in Oklahoma. 13% of the state’s residents are uninsured. the median annual income is $47,000. More information about state demographics, economy, health costs, and insurance coverage can be found at www.cdc.gov.

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Oklahoma Department of Insurance

5 Corporate Plaza

3625 N.W. 56th Street, Suite 100

Oklahoma City, OK 73112

Web site: http://oid.ok.gov/

Phone: (405) 521-2828