Find life insurance in your state
There is no federal agency that regulates the sale of life insurance. Regulations regarding policies and the licensing of life insurance agents are handled on the state level.
No matter what state you live in, there are two primary types of life insurance available for purchase: term life insurance and permanent life insurance.
The map below allows you to explore the life insurance policy options in your state. Click on your state to get started.
A state's Department of Insurance oversees the sale of policies within that state, but there are few, if any, state regulations that mandate specific coverages or how a policy has to be worded or priced. State regulations usually come into play when a claim is filed, and they most often have to do with payment terms and other issues surrounding the payment of death benefits.
However, there are certain provisions that do vary from state to state regarding free-look time frames, illustration requirements, underwriting and medical exam requirements. You should be aware of these rules as you shop for life insurance, and you can find a list of them — along with state-specific resources — within our state page linked from the map above.
5 ways to save on your state life insurance
There are many ways to save on life insurance. Most importantly, you need to shop around, as different companies charge different rates. With hundreds of companies to choose from, comparison shopping can drive significant savings. Beyond shopping for a good deal, here are five ways you can help reduce the financial impact of life insurance.
- Get Healthy
One of the surest ways to save is to buy it when you are the healthiest. Get healthy and stay healthy and you may be able to secure a better rate. If you are overweight, or a tobacco user, you may pay more.
- Buy the Right Amount
Save by buying only the amount you need. You can use our life insurance calculator to estimate the amount of coverage you should purchase.
If you need to make an adjustment to your policy, consider the use of riders before canceling and purchasing a new policy. Depending on the change you need to make, this may, or may not, be possible.
- Buy Young
When you are single without any dependents, you may not think you need a life insurance policy. However, buying young could save you money in the long run. The younger and healthier you are when you apply, the more affordable the monthly premiums may be.
- Payment Options
If you can, try to pay your premium annually rather than monthly. Some insurance companies may add fees to monthly premium payments. Also, some companies will apply a discount for premiums paid directly from a checking account.