Rhode Island Life Insurance

SaveOnLifeInsuranceNow.com will provide you with up to 10 free cheapest life insurance quotes online. There are 400 licensed life insurance companies in Rhode Island. 3 life insurers are located in the state. The life insurance industry creates 3,000 jobs in Rhode Island and invest $14 billion of their assets in the state’s economy.

There are 460,000 individual life insurance policy holders in RI. The average coverage is $130,000 per person. The total amount of group life insurance policies purchased in thee state is $50 billion, with $110 billion in death benefit coverage. Rhode Island residents were paid $1 billion in the form of matured endowments and policy dividends in 2008. Find cheap life insurance quotes online!

Rhode Island Life Insurance Regulations

Chapter 27 of the Rhode Island Insurance Code outlines policy requirements in RI. Consumers are protected by the 10-day “free look” provision and a 30-days grace period provision on late payments. Rhode Island life insurance companies are required to settle claims in a timely manner. Any type of consumer misrepresentation found on a policy within the first two years of the policy can lead to the policy’s cancellation.

Rhode Island Health Facts

Slightly more then 1 million people live in the state of Rhode Island. 12% of the population is uninsured. The average annual income is $50,000. The state ranks 9th out of 50 for life expectancy (78 years). The data was taken from the American Human Development Report (2008-2009). More information about state demographics, economy, health costs, and insurance coverage can be found at www.cdc.gov.

SaveOnLifeInsuranceNow.com provides consumers with cheapest life insurance from top 5 carriers in RI. Compare rates now!

Rhode Island Department of Insurance

1511 Pontiac Avenue, Bldg. 69-2

Cranston, Rhode Island 02920

Web site: http://www.dbr.state.ri.us/divisions/insurance

Phone: (401) 462-9520