Idaho Life Insurance

No matter your age, life insurance is something that can serve all adult as a source of support for your loved ones. When you leave your family behind, you want to make sure they’re taken care; that they won’t feel the brunt of financial hardship.. To help you better understand the life insurance market, The Simple Dollar has featured some facts, statistics, and resources to consider.

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Stats in Your State

Life insurance is not a luxury. No matter what age, status, or situation you are in, life insurance can be of aid to your family and loved ones. Use the graphs and charts below to compare life insurance statistics in Idaho to the rest of the U.S.

Life Insurance in Idaho

Featured below, you’ll see how the life insurance industry affects the state of Idaho. Not only does the life insurance industry employ thousands, it also provides about $1 billion a year in payments to various claims. Use the link above to find out more about Idaho’s and other states’ life insurance industries.

Number of Licensed Life Insurers 445
Total Life Insurance Coverage $111 billion
Average Policyholder Coverage $148,000 per life insurance policyholder*
Amount Paid Out in 2011 $1 billion**
Amount of Paid Annuity Benefits in 2011 $329 million
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 4,000 Idaho residents are enrolled in federally administered life insurance programs. A great deal of these residents happen to be servicemen and women, many of whom are veterans.

The Life Insurance Industry: Beyond Insuring You

The life insurance industry not only services Idaho residents, but it also fuels much of the state’s economy and employment. This is not only the case for Idaho; in fact, the insurance industry serves as an economic lifeblood for many states.

Job creator 4,000 jobs created
Invested in Idaho 's Economy $17 billion
Source: ACLI.com

Rules in Your State

The laws and regulations regarding Idaho life insurance are outlined in Idaho insurance statutes Title 41. Discussions on life insurance begin in CHAPTER 19 LIFE INSURANCE POLICIES AND ANNUITY CONTRACTS, delving into topics like payments of premiums, grace periods, policy settlements, and much more.

Representatives & Resources in Your State

Understanding the insurance industry is tough. That being said, it’s important that consumers have the appropriate resources to utilize whenever they have questions or concerns about their policies. The Simple Dollar has composed a list of resources and representatives for you to use in your quest to understand the life industry.

Idaho Department of Insurance
700 West State Street
P.O. Box 83720
Boise, ID 83720-0043
Where to file a complaint regarding life insurers and policies
Consumer Tips in Purchasing Life Insurance or an Annuity
Reviewing your life insurance policy

Idaho Life & Health Insurance Guaranty Association
3355 N Five Mile Road, #210
Boise, ID 83713
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Life & Disability Insurance information from USA.gov

The Life and Health Insurance Foundation for Education
U.S. General Services Administration
Office of Citizen Services and Innovative Technologies
1275 First Street, NE
Washington, DC 20417
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Idaho Department of Finance
800 Park Blvd., Suite 200
Boise, ID 83712
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