Oregon Life Insurance

Get cheap life insurance quotes at SaveOnLifeInsuranceNow.com. There are 479 licensed life insurance companies in Oregon. They generate approximately 8,000 jobs in Oregon and invest $40 billion of their assets in Oregon’s economy. Approximately 1 million Oregon residents are protected by individual life insurance policies. Group life insurance policies amount to $90 billion. The average coverage amount is $140,000 per policyholder. In 2008, Oregon residents were paid over $5 billion in annuities, dividends, and death benefits payments. Get cheap life insurance quotes online!

Oregon Life Insurance Regulations

Chapters 731 through 752 of the Oregon Revised Statutes regulates life insurance industry in Oregon and outlines claims procedures and policy requirements in the state. Consumers have one-month grace period on late premium payments and can cancel a policy at any time during the first 10 days of coverage (the so-called “free look” period). According to the Oregon statues, life insurance companies licensed to do business in the state are obligated to settle life insurance claims within 30 days. Any misrepresentation on a policy or application, if discovered within the first two years of the policy, can result in policy cancellation.

Oregon Health Facts

Oregon ranks 17t out of 50 states for life expectancy. The average life expectancy in Oregon is 77 years. Major causes of death are heart diseases and stroke. The data was taken from the American Human Development Report (2008-2009).

More then 4 million people live in Oregon. 17% of the population is uninsured. The average annual income is $50,000. More information about state demographics, economy, health costs, and insurance coverage can be found at www.cdc.gov.

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Oregon Department of Insurance

350 Winter Street NE, Room 440

Salem, Oregon 97301-3883

Web site: http://www.insurance.oregon.gov

Consumer Advocacy Phone: (503) 947-7984, 1-888-877-4894