Finding the right concept insurance in Massachusetts can be a bit confusing and understanding what protections you have can be complicated.
We are compiling this post so that you can quickly access your insurance department and your guarantee association.
You will also find information that is specific to the state of Massachusetts and have a better understanding of why you need life insurance if you live in Massachusetts.
What is the Free Look Period?
When you buy your life insurance, you still have the so-called "free look" period where you can return the insurance.
If you use the period with free look, the insurance company must refund all your money and the insurance will be canceled.
The average period for free viewing is 30 days; however, each company may have a different period, so it is best to contact them directly.
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How Life Insurance Rates Are Counted In Massachusetts
Age will be one of the biggest factors when determining your life insurance rates in Massachusetts. The younger you are when you buy coverage, the more affordable it will be.
Your gender will be the second biggest factor when calculating your life insurance rates. You will find that women will have much cheaper prices than men, mainly because they live longer than men on average.
If you are a tobacco user, you can expect your prices to be higher than 65% more expensive each month. Because cancer is a leading cause of death in Massachusetts, and because smoking significantly increases your rates, if you smoke, it's probably time to quit.
The amount of coverage you buy will also change your prices. The higher the coverage amount you buy, the more expensive the insurance will be.
Term length will be a factor because the longer the term, the more expensive a policy becomes. But do not let this fool you, if you lock in your interest rates in the long run, you will actually save more money over time.
All are drawn on an individual basis, which means that if you have a twin, their prices may still be different if their health is different.
Life insurance companies want to know that you are not a crazy driver. If you have a history of speeding, DUI or DWI, you can look at higher rates or even a decline in coverage.
Top 10 Leading Causes of Death in Massachusetts
It's important that you buy Massachusetts life insurance when you are young so that your prices are affordable.
A life insurance policy would cover all of the above deaths, including suicide after two years of insurance.
Massachusetts Department of Insurance
Website: Massachusetts Department of Insurance
Insurance Commissioner: Gary An derson
Helpline for Consumer Insurance: (877) 563 – 4467
Monday Office Hours – Friday 8:45 a.m. to 5:00 p.m.
Submit a Consumer Insurance Complaint: Complaint Page
Finding a Licensed Life Insurance Agent: Agent License Search Page
Massachusetts L&H Insurance Guaranty Association