Delaware Life Insurance

Delaware’s population of farmers and working class people make life insurance extremely important for families across the state. To help readers better understand their exact life insurance needs, The Simple Dollar has compiled resources and data that will guide the people of Delaware through the entirety of Delaware’s state-specific life insurance info.

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Stats in Your State

Gaining an appreciation for life insurance doesn’t take a lifetime of experience – the graphs below illustrate the importance of life insurance in Delaware and its impact on the economy.

Life Insurance in Delaware

Most people don't realize just how much life insurance benefits fuel a large chunk of a state’s economy. More than $4 billion in benefits were paid to Delaware residents in 2011.

Number of Licensed Life Insurers 448
Total Life Insurance Coverage $196 billion
Average Policyholder Coverage $203,000 per life insurance policyholder*
Amount Paid Out in 2011 $3 billion**
Amount of Paid Annuity Benefits in 2011 $1 billion
Source: ACLI.com

*Based on individual life insurance policies
**Includes death benefits, matured endowments, policy dividends, surrender values, and other payments.

Life Insurance Administered Programs

Nearly 3,000 Delaware residents rely on government administered life insurance plans, many of whom are retired servicemen and women.

The Life Insurance Industry: Beyond Insuring You

A significant portion of Delaware’s workforce depends on jobs generated by the life insurance industry, as evidenced by the chart below.

Job creator 8,000 jobs created
Invested in Delaware 's Economy $27 billion
Source: ACLI.com

Rules in Your State

The Delaware Code sets forth specific guidelines on insurers operations, including how they treat their customers. If you suspect your rights have been compromised, contact your Department of Insurance or talk with an attorney.

Unfair Practices in the Insurance Business

Source: Delaware Code, Title 18: Insurance, Chapter 23

The Delaware Code sets forth specific unfair sales, marketing, claims, and rates practices in which insurers may not participate. If you feel you’ve been treated unfairly by an insurer, contact the Department of Insurance to file a complaint.

Life Insurance & Annuities

Source: Delaware Regulations: Administrative Code, Title 18: Insurance, Section 1200

The above section of the Delaware Code specifies how life insurance and annuity policies are structured and managed.

Prohibited Unfair Claim Settlement Practices

Source: Delaware Regulations: Administrative Code, Title 18: Insurance, Section 900

The above link provides a list of settlement acts and practices prohibited in Delaware. If your insurer has pressured you into a settlement or acted unfairly, consider filing a complaint with the Department of Insurance and consult with an attorney.

Representatives & Resources in Your State

Use the links and resources below if you need to file a complaint against an insurer or if you need to learn more about the enforcement of life insurance policies in Delaware.

Delaware Life & Health Insurance Guaranty Association
220 Continental Drive, Suite 309
Newark, DE 19713
(302) 456-3656
Get Directions
Contact Info Page
The Delaware Life and Health Insurance Guaranty Association ensures that your insurance policy will still be valid even if your insurer withdraws from the market or becomes financially unstable.

Delaware Department of Insurance
841 Silver Lake Blvd.
Dover, DE 19904
(302) 674-7300
Contact Info Page
Get Directions
Consumer Complaint Resource
If you feel your rights have been violated or you’ve been treated unfairly, use the link above to contact the Department of Insurance to file a complaint.
Delaware Department of Insurance Consumer Guides
The Department of Insurance consumer guides provide a wealth of information on different types of insurance that’s incredibly easy for consumers to use.