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Purchasing Life Insurance in Ohio

In the state of Ohio, The State Insurance Code of Ohio offers certain protections for those seeking life insurance. For instance, in Ohio, purchasers are offered a “free look,” which guarantees them the right to change their mind on a signed contract for a period of between 10-30 days without incurring a penalty. 

Other life insurance regulations in the state of Ohio are listed below.

  • Most Ohio life insurance policies guarantee coverage for accidental deaths even when they occur within the first two years of a current policy. Suicide is excluded unless it occurs after two years.
  • Beneficiaries in Ohio are entitled to quick death benefit processing. If all of your paperwork is in order and correct, you can receive your benefits within 60 days, with life insurance companies paying interest on death benefits as soon as a file is claimed.

Life Insurance Tips

Keep these tips in mind while shopping for a life insurance policy to ensure you're getting a policy that's right for you. 

  • Generally, the younger and healthier you are, the lower your life insurance premiums may be.
  • Fully underwritten policies require you to take a medical exam. Your weight, tobacco use, and pre-existing conditions can all affect how much you'll pay.
  • Estimate your needs. The general rule of thumb is to buy a policy that is equal to seven to 10 times your annual income.
  • If you want to add extras to your policy, consider a rider. Riders let you add new provisions to meet your growing needs.

State Resources

Get a Free Life Insurance Quote Today

To learn more about life insurance in Ohio, or to get a free quote, speak with a licensed agent at 1-855-303-4640. You can also get a free quote by filling out the form below.

*Applications for insurance may be subject to acceptance by insurer. Rates and coverage amounts will depend upon the carrier selected.

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