Life Insurance

Who Needs Life Insurance?
Your need for life insurance varies with your age and responsibilities. It is a very important part of financial planning. There are several reasons to purchase life insurance. You may need to replace income that would be lost with the death of a wage earner. You may want to make sure your dependents do not incur significant debt when you die. Life insurance may allow them to keep assets versus selling them to pay outstanding bills or taxes.

Consumers should consider the following factors when purchasing life insurance:
  • Medical expenses previous to death, burial costs, and estate taxes;
  • Support while remaining family members try to secure employment; and
  • Continued monthly bills and expenses, daycare costs, college tuition, and retirement.
Tips on Buying Life Insurance
  • Make sure you feel confident with your insurance agent and company.
  • Decide how much you need, for how long, and what you can afford to pay.
  • Learn what kinds of policies will provide what you need and pick the one that is best for you.
  • Do not sign an application until you review it carefully to be sure the answers are complete and accurate.
  • Do not buy life insurance unless you intend to stick with your plan. It may be very costly if you quit during the early years of the policy.
  • When you buy a policy, make the check payable to the company, not the agent.
How do I file a complaint?
Print and complete the Consumer Complaint form below and return to the Department of Insurance.