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?” The answer is DC Life Insurance. District Insurance Codes provide regulations designed to protect the rights of DC Life Insurance consumers, and the sellers of Washington, DC Life Insurance polices.

Why Do I Need Washington, DC Life Insurance?

You may wonder why do I even need Washington, DC Life Insurance? 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 Washington, DC 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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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 Washington, DC Life Insurance consumers. Such as:
Free Look: According to the State Code a “free look” provision must be included in every Washington, DC Life Insurance plan. The free look allows you to turn in the polciy 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 Washington, DC Life 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 Washington, DC Life Insurance state regulations also provide some protections to the life insurance companies against consumer fraud. For example, Washington, DC life insurance companies may challenge any information you reported on your Washington, DC 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.

Washington, DC Life Insurance 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 Washington, DC Life Insurance industry.
http://www.dbfi.dc.gov

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

Washington, DC Life Insurance Company Ratings These companies provide ratings for Washington, DC Life Insurance Companies based on financial strength and past performance
http://www.ambest.com/