Income protection insurance. North Carolina Life Insurance, Free Life Insurance

You likely don’t want to think about your own death. It’s important, however, to consider how the people who depend on you will continue to survive financially after you’re gone. As a North Carolina resident, purchasing life insurance is one way you can help ensure that your loved have the financial support that they may need, even if you are not there to take care of them. Free life insurance.

When shopping for life insurance in North Carolina, you need to be aware that there are certain industry regulations that vary from state to state.

Why do I need life insurance?

With life insurance coverage, you can feel secure knowing that your beneficiaries will have some help covering your final expenses and other financial needs they’ll face without you.

North Carolina was ranked 38th out of 50 states and the District of Columbia in life expectancy in 2014, with a life expectancy of 77.86 years. With this in mind, people living in North Carolina may want to consider their life insurance options.

North Carolina life insurance specifics

Like most states, North Carolina’s Department of Insurance relies on The State Insurance Code of North Carolina to standardize life insurance policies. The state uses this code to regulate claims and provide certain provisions to protect life insurance consumers in North Carolina, such as:

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According to the North Carolina state code, life insurance companies are required to give you a Free Look Period to review your policy and decide if you want to keep it. If you decide during this period (within 10 days of the issuance of the policy) that you don’t want to keep it, you can cancel the policy for a full refund.

A grace period is allowed on all late payments under the North Carolina state insurance code. If you miss a premium payment for any reason, all North Carolina life Insurance providers must give you at least 31 days to bring the account current before the insurer can cancel the policy for non-payment.

North Carolina life insurance state resources

North Carolina 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 North Carolina life insurance industry.

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North Carolina Life & Health Insurance Guaranty Association

The state guaranty association is there to provide protection and continuing life insurance coverage in North Carolina, even in the event that a life insurance company becomes insolvent.

Life Insurance Company Ratings From A.M. Best, Standard and Poors and Moody’s

A.M. Best and Standard and Poors provide ratings for life insurance companies based on financial strength and past performance.

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Overall rating page: 3.2 / 5 left 1199 people.

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