Kansas Life Insurance

Life policies in the state of Kansas do not have a lot of state specific regulations mandated by the State Department of Insurance, like health or auto insurance policies do. However, there are certain provisions created by the Department to oversee and protect the rights of those purchasing a policy.

Why Do You Need Coverage?

Take a look at these figures.

Kansas is ranked 24th out of 50 states and the District of Columbia in Life Expectancy, with an average life expectancy of 77.3 years.  For every 100,000 people in Kansas, almost 1,200 between the ages of 55 and 64 pass away every year. Between the ages of 65 and 74, that number more than doubles to 2,600, and at 75 to 84 nearly 6,000 Kansans die for every 100,000 residing in the state. More on mortality by age, sex and race, and the leading causes of death in Kansas can be found at: http://www.cdc.gov/nchs/pressroom/data/Kansas09.pdf

For more reasons why you should purchase a Life policy, and for help in finding the product available to you at the best value, take a look at our section called "Most Important Questions".

Kansas Specifics

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

Grace Period: The Kansas State insurance code mandates that all 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.

Kansas Life policies generally will not pay a death benefit if suicide is determined to be the cause of death and the policy is less than 2 years old. In such an event, only a refund of the premiums paid thus far will be paid to the beneficiary.   

The state regulations also provide some protections to the insurance companies against consumer fraud. Insurance companies concerned about insurance fraud can contest any information reported on your application for up to two years after the application has been approved and the policy issued. If they find any discrepancies or misinformation, they can terminate the policy immediately.

Kansas State Resources

Kansas 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 Kansas Insurance industry.
http://www.ksinsurance.org/

Kansas Life & Health Insurance Protection Association - State guaranty associations are there to provide protection and continuing coverage, even in the event that a life insurance company becomes insolvent.
http://www.kslifega.org/

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

Related Information

What to Know About Ohio Life Insurance

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

Read More

Benefits of Life Insurance vs. Annuity Death Benefits

Life insurance and annuities operate differently. Compare the two below and decide which is the best option for you and your beneficiaries.

Read More

Everything You Need to Know About Life Insurance Payouts

If you have a life insurance policy, a payout of the death benefit is preceded by a claim providing a death certificate.

Read More

Will Life Insurance Cover My Funeral Expenses?

Yes, life insurance can help cover funeral expenses. Here's what else you should know before you purchase a policy.

Read More

What is the Point Of Life Insurance?

Life insurance protects your loved ones from financial hardship if you die unexpectedly.

Read More

Why Have Life Insurance? | 7 Essential Reasons

Find out why it is important for you to have life insurance with these 7 simple reasons. Help protect your family from financial instability after you're gone.

Read More

What is Life Insurance? Benefits and Types of Insurance

What is life insurance and how does it help families in the event of your death? It can help pay for the cost of funeral expenses, lost wages, debts, and more.

Read More

Seniors and Life Insurance | Finding the Right Policy

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

Read More

How to Claim Benefits for Term Life Insurance

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