South Dakota Life Insurance

Find cheap life insurance rates and policies at There are 475 licensed life insurance companies in South Dakota, investing $10 billion of their assets in South Dakota’s economy. More then 3,000 people are employed in the life insurance business in the state.

South Dakota residents own 500,000 individual life insurance policies and have $70 billion in death benefit coverage. In addition, group life insurance coverage amounts to $10 billion. In 2008, South Dakota policy holders were paid $1 billion in the form of death benefits, annuities, and other payments.

South Dakota Life Insurance Regulations

Title 58 of the South Dakota Codified Laws regulates the life insurance industry in the state. According to these laws, life insurers in South Dakota must settle life insurance claims within 60 days of receipt of proof of death. All new policy holders are protected under the 10-day “free look” provision. Life insurers are not allowed to disclose consumers’ medical information to other insurers. Any misstatement (e.g. misstatement of age) can results in the policy termination. South Dakota insurers do not settle claims where suicide is the cause of death. Get your discount term life insurance policy quickly and easily.

South Dakota Health Facts

The total population in the state is less than 900,000 people. 13% of South Dakota residents are uninsured. The average annual income is $48,000. The state ranks 18th out of 50 for life expectancy which is in the 77 years range on average. The data is provided by American Human Development Report (2008-2009). More information about state demographics, economy, health costs, and insurance coverage can be found at
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South Dakota Department of Insurance

445 East Capitol

Pierre, South Dakota 57501-3185

Web site:

Phone: (605) 773-3563

Fax: (605) 773-5369