Virginia Life Insurance

Find affordable life insurance quotes at SaveOnLifeInsuranceNow.com. There are 470 life insurance companies licensed to issue life insurance policies in Virginia. 6 life insurers are domiciled in the state. Over 14,000 people are employed in the life insurance industry. Compare cheap life insurance rates from top providers in VA.In 2008, Virginia residents were paid $9 billion was paid in the form of death benefits, annuities, and other payments in 2008. Group life insurance coverage totals $430 billion. In addition, there are 4 million individual life insurance policy holders in Virginia. The average coverage amount is $96,000 per policyholder.

Virginia Life Insurance Regulations

Section 38 of the Code of Virginia regulates the claims procedures and outlines policy requirements in Virginia. Consumers have the 10-day “free look” in addition to 30-days grace period on latte payments. The privacy of Virginia life insurance policyholders is also protected by the state law. All claims must be settled in 2 months time.

Virginia Health Facts

The life expectancy in Virginia is 77 years. The state ranks 28th out of 50 for life expectancy. The data provided by American Human Development Report (2008-2009).

8 million people live in Virginia, and 13% of the population is uninsured. The average annual income is $61,000. More information about state demographics, economy, health costs, and insurance coverage can be found at www.cdc.gov.

SaveOnLifeInsuranceNow.com provides consumers with affordable life insurance rates from top carriers in all 50 states.

Virginia Department of Insurance

1300 East Main Street

Richmond, VA 23219

Web site: http://www.scc.virginia.gov/division/boi/index.htm

Phone: (804) 371-9741

Consumer Hotline: (800) 552-7945