Alabama Life Insurance

Buying Alabama 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 Alabama Life Insurance. Purchasing Alabama 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 Alabama Life Insurance?

You may wonder why do I 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 1000 between the ages of 55 and 64 pass away every year. Between the ages of 65 and 74, that number more than doubles to 2200, and at 75 to 84 well over 5000 Alabamans die for every 100,000 residing in the state. More on mortality by age, sex and race, and 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 for Alabama 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.

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Alabama Life Insurance Specifics

The insurance industry in Alabama is regulated by specified title of 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 Life Insurance 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 Alabama Life Insurance 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 life insurance companies may challenge any information you reported on your Alabama 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.

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:  These companies provide ratings for Alabama Life Insurance Companies based on financial strength and past performance.
http://www.ambest.com/