Stats in Your State
To get an understanding of life insurance in the state of Florida, it’s sometimes easiest to see the data laid out in front of you. To that end, The Simple Dollar has visualized statistics and information on the topic into easy-to-understand charts and graphs.
Life Insurance in Florida
Given the high senior population in Florida, it's not surprising that Florida's life insurance industry covers trillions of dollars and has large payouts each year.
|Number of Licensed Life Insurers||468|
|Total Life Insurance Coverage||$1.5 trillion|
|Average Policyholder Coverage||$134,000 per life insurance policyholder*|
|Amount Paid Out in 2011||$24 billion**|
|Amount of Paid Annuity Benefits in 2011||$5 billion|
*Based on individual life insurance policies
**Includes death benefits, matured endowments, policy dividends, surrender values, and other payments.
Life Insurance Administered Programs
Active servicemembers and veterans in Florida are enrolled in many administered life insurance programs. As of October 31, 2012, there were over 60,000 life insurance policyholders for these administered programs.
The Life Insurance Industry: Beyond Insuring You
Beyond just insuring Floridians, the life insurance industry provides local support in the form of jobs and local investments.
|Job creator||128,000 jobs created|
|Invested in Florida 's Economy||$239 billion was invested by life insurance companies|
Rules in Your State
The regulations around health insurance in Florida also apply to life insurance, since many of the same restrictions and regulations apply regarding health of applicants, disclosure of diseases and conditions, and consumer medical history.
Florida Administrative Register & Code
Requirements for Replacement of Life and Health Coverage: The technical language around life and health insurance policies can be found in the link above. If your insurer has revised your health plan, changed coverage, or otherwise adjusted your policy, make sure it matches up with the requirements outlined by the state.
Representatives & Resources in Your State
The following representatives can assist consumers to learn more about insurance regulations, and to assist in filing complaints or inquiring as to a particular insurer’s practices.
Life Insurance Consumer Guides
Florida Department of Financial Services Consumer Guides
This compilation of guides serves as a general resource for information on auto insurance, life insurance, health insurance, natural disasters, claims,and other info relevant to Florida insurance policyholders.
Unclaimed Life Insurance Resources
Every year, thousands of dollars worth of life insurance payouts go unclaimed. Use these resources (MissingMoney.com and National Association of Unclaimed Property Administrators) to make sure this doesn’t happen to your family.