New Mexico Life Insurance

Buying New Mexico 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?”  The answer is New Mexico Life Insurance. Purchasing New Mexico Life 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 New Mexico Life Insurance?

You may wonder why you would even need New Mexico Life Insurance? Take a look at these figures.

New Mexico is ranked 27th out of 50 states and the District of Columbia in Life Expectancy, with a life expectancy of 77.0 years.  For every 100,000 people in New Mexico, over 800 between the ages of 55 and 64 pass away every year. Between the ages of 65 and 74, that number more than doubles to over 2000, and at 75 to 84 approximately 5,000 New Mexicans die for every 100,000 residing in the state. More on mortality by age, sex and race, and the leading causes of death in New Mexico can be found at:
http://www.cdc.gov/nchs/pressroom/data/NewMexico09.pdf

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

New Mexico Life Insurance Specifics

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

Processing of Death Benefits: The New Mexico Life Insurance regulators understand that grieving families are entitled to a swift resolution of death benefit clams. All New Mexico Life Insurance companies are required to process death claims promptly under the State Code. As long as all of the paper work is in order, beneficiaries can expect payment of a death benefit within 60 days.

The New Mexico Life Insurance state regulations also provide some protections to the life insurance companies against consumer fraud. For example, New Mexico life insurance companies may challenge any information you reported on your New Mexico Life Insurance 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.

New Mexico Life Insurance State Resources

New Mexico 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 New Mexico Life Insurance industry.
http://www.nmprc.state.nm.us/id.htm

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

New Mexico Life Insurance Company Ratings - These companies provide ratings for New Mexico Life Insurance Companies based on financial strength and past performance.
http://www.moodys.com/cust/default_alt.asp
http://www2.standardandpoors.com
http://www.ambest.com/

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