Alabama Life Insurance

Buying Life Insurance can be a little awkward. Nobody wants to think of his or her own death, or the death of a loved one. But just take a moment to think, “How would I provide for my family if I were out of the picture?”  Purchasing Insurance today is the smartest move you can make to be sure that your loved ones will always be protected, even if you are not there to take care of them.

Why Do I Need it?

You may wonder why you even need Alabama Life Insurance... take a look at these figures.

Alabama is ranked 43rd out of 50 states and the District of Columbia in Life Expectancy, with a life expectancy of 74.4 years.  For every 100,000 people in Alabama, almost 1,000 between the ages of 55 and 64 pass away every year. Between the ages of 65 and 74, that number more than doubles to 2,200. More than 5 thousand Alabamans die for every 100,000 state residents in the 75 to 84 year age group. More on mortality by age, sex and race, as well as the leading causes of death in Alabama can be found at: http://ph.state.al.us/chs/healthstatistics/Mortality/MORTALITY.HTM

For more reasons why you should apply, and for help finding the best insurance for your needs at the best value, take a look at our Family Guide to Life Insurance.

Alabama Life Insurance Specifics

The insurance industry in Alabama is regulated by The State Insurance Code of Alabama. The state uses this code to regulate claims and provide certain provisions to protect Alabama Life Insurance consumers. Such as:

Free Look: According to the State Code a “free look” provision must be included in every Alabama plan. The free look allows you to change your mind even after you have signed the contract with the insurance company and received all policy documents. Most companies give at least a 10-day cancellation without penalty period. In some cases it may be as much as 30 days.

Grace Period: The Alabama State insurance code also requires that all companies allow a 30-day grace period on late payments. If you miss a premium payment for any reason, you must be given 30 days to bring the account current before the insurer can cancel the policy for non-payment.


The Alabama Life Insurance state regulations also provide some protections to the life insurance companies against consumer fraud. For example, Alabama insurance companies may challenge any information you reported on your application for up to two years from the effective date of the policy. If they find any discrepancies or misinformation, they can terminate the policy immediately.

Alabama Life Insurance State Resources

Alabama Department of Insurance: The purpose of the Department of Insurance is to faithfully execute the state insurance laws in a manner that protects insurance consumers and the Alabama Life Insurance industry.
http://insurance.state.al.us/

Alabama Life & Disability Insurance Guaranty Association: State guaranty associations are there to provide protection and continuing Alabama Life Insurance coverage, even in the event that a life insurance company becomes insolvent.
http://www.allifega.org/

Alabama Life Insurance Company Ratings:  This company provides ratings for Alabama Companies based on financial strength and past performance.
http://www.ambest.com/

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