District of Columbia Life Insurance

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?". District of Columbia insurance codes provide regulations designed to protect the rights of DC consumers, and the sellers of life insurance policies in Washington, DC.

Why Do You Need It?

Take a look at these figures.

Washington, DC is ranked the worst in the nation for life expectancy. It is 51st out of 51, with a life expectancy of 72 years. For every 100,000 people in Washington, DC, over 1300 between the ages of 55 and 64 pass away every year. Between the ages of 65 and 74, that almost doubles to 2400, and at 75 to 84 well over 5000 District residents die for every 100,000 residing in the state. More on mortality by age, sex and race, and the leading causes of death in Washington, DC can be found at: http://dchealth.dc.gov/doh/cwp/view,A,1374,Q,580821.asp

For more reasons why you should apply for a life insurance policy in the District of Columbia, and for help in finding the best product for your needs, at the best value, take a look at our secton called "Most Important Questions".

Washington, DC Life Insurance Specifics

The insurance industry in Washington, DC is regulated by Title 31 of The Insurance Code of Washington, DC. The state uses this code to regulate claims and provide certain provisions to protect, such as:

Free Look: According to the State Code a “free look” provision must be included in every plan. The free look allows you to turn in the policy even if its weeks after you signed the contract. 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 Washington, DC State insurance code also requires that all Insurance companies allow a 30-day grace period on late payments. If you are late with a monthly payment, you must be given 30 days to bring the account current before the insurer can terminate the policy for non-payment, regardless of the reason of the missed payment.

The state regulations also provide some protections to the insurance companies against consumer fraud. For example, 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.

Washington, DC State Resources

Washington, DC Department of Insurance - The purpose of the Department of Insurance is to faithfully execute the District’s insurance laws in a manner that protects insurance consumers and the Insurance industry.

Washington, DC Life & Disability Insurance Guaranty Association - State guaranty associations are there to provide protection and continuing coverage, even in the event that the company selling life plans becomes insolvent.

Washington, DC Company Ratings These companies provide ratings for based on financial strength and past performance

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