West Virginia Life Insurance

Purchasing West Virginia 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. West Virginia Life Insurance at its most basic level is a contract between you and a life insurance company to pay a sum of money to your beneficiaries in the event of your death, to cover expenses and make up for the lack of your income.

Why Do I Need West Virginia Life Insurance?

You may wonder why you even need West Virginia Life Insurance? Take a look at these figures.

At  46th out of 50 states and the District of Columbia, West Virginia is close to the bottom of the list for Life Expectancy, with a life expectancy of only 75.1 years.  For every 100,000 people in West Virginia, almost 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 2,000, and at 75 to 84 well over 5,000 West Virginians die for every 100,000 residing in the state. More on mortality by age, sex and race, and the leading causes of death in West Virginia can be found at: http://www.cdc.gov/nchs/pressroom/data/WVirginia09.pdf

For more reasons why you should apply for West Virginia 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.

West Virginia Life Insurance Specifics

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

Death Benefit Processing: As a resident of the State of West Virginia and beneficiary of a West Virginia Life Insurance policy, it is your right as recognized by the State Code to a swift and reasonable payment of death benefits. Life Insurance companies are required to process any claim as soon as possible, and that should never be longer than 30 days, as long as all documentation is in order.

Grace Period: You have 30 days to bring your West Virginia Life Insurance premiums current if you have missed a payment, without losing your benefits. This is known as a Grace Period and is a provision of The West Virginia State insurance code.

The West Virginia Life Insurance state regulations have also been designed to protect West Virginia life insurance companies against obvious cases of consumer or insurance fraud. You cannot knowingly make misstatements on your West Virginia Life Insurance application. West Virginia Life Insurance Companies have up to 2 years to dispute such statements. If they find any discrepancies or misinformation, they can terminate the policy immediately, and you may be subject to criminal charges or other penalties

West Virginia Life Insurance State Resources

West Virginia 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 West Virginia Life Insurance industry. 

West Virginia Life & Health Insurance Protection Association - State guaranty associations are there to provide protection and continuing West Virginia Life Insurance coverage, even in the event that a life insurance company becomes insolvent.

West Virginia Life Insurance Company Ratings - These companies provide ratings for West Virginia Life Insurance Companies based on financial strength and past performance.

Related Information

Finding a Life Insurance Policy in Ohio

Find out what you can expect when buying a life insurance policy in Ohio.

Read More

Difference Between Life Insurance Death Benefit and Annuity

A life insurance policy and an annuity pay benefits differently. A life insurance death benefit is usually not taxable, while an annuity benefit is.

Read More

What is the Point Of Life Insurance?

Life insurance can help you protect your loved ones financially in the event of your death. Learn more about why it matters.

Read More

Senior Life Insurance Options

If you’re a senior worried about funeral costs, you should consider final expense life insurance.

Read More

Life Insurance Payout | Average Waiting Time

It could take as little as two weeks to receive a life insurance payout if the policy is simple. Find out what can affect payout times.

Read More

Finding Life Insurance Companies

Finding the right life insurance company can help you choose a plan that meets your needs and your budget.

Read More

How Does Guaranteed Life Insurance Work?

If you're a senior who's shopping for life insurance policies, you may consider guaranteed-issue life insurance.

Read More

Steps for Claiming Term Life Insurance Benefits

Generally, there are 3 main steps beneficiaries must take to receive a life insurance payout: file a death claim, provide proof of death and wait for approval.

Read More

Your Beneficiary Gets Your Life Insurance Payout

If you die, whoever you named beneficiary on your life insurance policy will get the death benefit or payout. Learn more about how it works.

Read More