Have you ever just taken a moment to think, “How would I provide for my family if I were out of the picture?”  The answer is Louisiana Life Insurance. Purchasing Louisiana 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.

When shopping for Louisiana Life Insurance you need to be aware that there are certain provisions that vary from state to state, and the Louisiana State Department of Insurance issues regulations for Louisiana life insurance pertaining to free-look time frames, illustration requirements, underwriting, and medical exam requirements.

Why Do I Need Louisiana Life Insurance?

You may wonder why you even need Louisiana life insurance? Take a look at these figures.

Louisiana is ranked 49th out of 50 states and the District of Columbia in Life Expectancy, with a life expectancy of 74.2 years.  For every 100,000 people in Louisiana, almost 900 between the ages of 55 and 64 pass away every year. Between the ages of 65 and 74, that number more than doubles to 2,200, and at 75 to 84 well over 5,000 Louisianans die for every 100,000 residing in the state. More on mortality by age, sex and race, and the leading causes of death in Louisiana can be found at: http://www.cdc.gov/nchs/pressroom/data/Loisiana09.pdf

For more reasons why you should apply for Louisiana 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.

Louisiana Life Insurance Specifics

The State Insurance Code of Louisiana is in place to regulate the insurance industry, which includes Louisiana Life Insurance. Life insurance is not as heavily regulated as health insurance, but the state uses this code to oversee claims and provide specific provisions to protect Louisiana Life Insurance consumers, such as:

Grace Period:  A 30-day grace period must be given by all Louisiana Life Insurance polices on late payments, and policyholders must be given that amount of time to bring their premiums current before the insurer can cancel the policy for non-payment.

Death Benefit Processing: Death benefits in Louisiana must be paid in a reasonable amount of time according to the State Code. If all documentation is in order this usually means Louisiana Life Insurance companies will pay death benefits in full within 2 months.

State insurance codes are designed to protect Louisiana Life Insurance providers as well. Louisiana life insurance companies are entitled to protect themselves from consumer fraud by contesting any information you may have reported on your Louisiana Life Insurance application for up to two years from the date of issue. If they find any misinformation, they can cancel the policy. Incorrect reporting of age is an exception. A mistake in the reporting of your age may not result in cancellation of the policy, but the policy rate will be adjusted to reflect the accurate age.

Louisiana Life Insurance State Resources

Louisiana 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 Louisiana Life Insurance industry.
www.ldi.state.la.us

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

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