Buying New Hampshire Life Insurance is an investment in your family’s future in more ways than one. New Hampshire Life Insurance protects your family from loss of income if you are suddenly out of the picture. Certain New Hampshire Life Insurance polices, such as Whole Life insurance, allow you to accrue cash value for your financial future. Purchasing New Hampshire 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.

There are certain provisions that do vary from state to state regarding Life Insurance regulations. You should be aware of these rules as you shop for New Hampshire Life Insurance.    

Why Do I Need New Hampshire Life Insurance?

You may wonder why you even need New Hampshire Life Insurance? Take a look at these figures.

New Hampshire is ranked 6th out of 50 states and the District of Columbia in Life Expectancy, with a life expectancy of 78.3 years.  While that is a high ranking, understand that for every 100,000 people in New Hampshire, almost 750 between the ages of 55 and 64 pass away every year. Between the ages of 65 and 74, that number almost triples to 2,000, and at 75 to 84  over 5,000 New Hampshire residents die for every 100,000 living in the state. More on mortality by age, sex and race, and the leading causes of death in New Hampshire can be found at: http://www.cdc.gov/nchs/pressroom/data/NewHampshire09.pdf

For more reasons why you should apply for New Hampshire 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.

New Hampshire Life Insurance Specifics

Like most states, New Hampshire’s Department of Insurance relies on The State Insurance Code of New Hampshire to standardize Life Insurance polices to some degree. The state uses this code to regulate claims and provide certain provisions to protect New Hampshire Life Insurance consumers, such as:

Death Benefit Processing: In New Hampshire your beneficiaries are entitled to swift and efficient payment of death benefits. If all documentation is in order the norm is within 30 days. The State Code also provides for New Hampshire Life Insurance companies to pay interest on death benefits. With a New Hampshire Life Insurance policy, interest begins to be applied to a death benefit as soon as a claim is filed. If your New Hampshire Life Insurance Company fails to pay the claim within 30 days, the interest rate increases on the 31st day. 

Grace Period: The New Hampshire State insurance code also requires that all New Hampshire Life Insurance companies allow a 30-day grace period on late payments. You can be confident that no matter why you are late, the insurance company must, by law, give you 30 days to bring the account current before the insurer can cancel the policy for non-payment.

State regulations also provide some protections to New Hampshire Life Insurance companies against potential insurance fraud. A New Hampshire life insurance company may dispute any information you may have put in your New Hampshire Life Insurance application for up to two years from issuance of the policy. If they find any discrepancies, especially as they relate to medical conditions, dangerous lifestyles, job related activities or tobacco use, they can terminate the policy immediately.

New Hampshire Life Insurance State Resources

New Hampshire 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 New Hampshire Life Insurance industry. 
http://www.nh.gov/insurance/

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

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