Pennsylvania Life Insurance

Find cheapest life insurance quotes online at SaveOnLifeInsuranceNow.com. There are 519 licensed life insurers in Pennsylvania. 47 life insurance companies are located in the state. The industry has created over 43,000 jobs in Pennsylvania. In addition, the life insurance companies invest approximately $150 billion of their assets in Pennsylvania’s economy.

Over 8 million people in Pennsylvania are covered by individual life insurance policies ($1 trillion in death benefit coverage). In addition, the group life insurance coverage amounts to $400 billion, with the coverage averaging $87,000 per policyholder. Pennsylvania residents were paid $20 billion in the form of death benefits last year. Find cheapest life insurance in PA!

Pennsylvania Life Insurance Regulations

Under Title 31 of the Pennsylvania Code state residents have the 10-day “free look” period to decide to decline the coverage. All Pennsylvania life insurance companies allow a 30-day grace period on late premium payments. Consumer misrepresentation on a policy can result in its cancellation. The death benefits will be recalculated if the misstatement of policyholder age is discovered at any point during the policy’s life.

Pennsylvania Health Facts

The life expectancy in PA is 76 years. The state ranks 36th out of 50 states for life expectancy. The major causes of death are cancer and stroke. The data was taken from the American Human Development Report (2008-2009). 12 million people live in the state, 11% of them are uninsured. The average annual income is $49,000. More information about state demographics, economy, health costs, and insurance coverage can be found at www.cdc.gov.

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Pennsylvania Department of Insurance

Pennsylvania Insurance Department

1326 Strawberry Square

Harrisburg, Pennsylvania 17120

Web site: http://www.insurance.state.pa.us/

Automated Consumer Hotline: (877) 881-6388