Kansas Life Insurance

Life insurance provides financial security for loved ones in the unfortunate event of a loss. In rural Kansas, families operate mostly farms and family-run businesses, and in the event of disaster, life insurance is a valuable commodity for the preservation of livelihoods. The Simple Dollar has outlined the specifics of life insurance in Kansas, providing consumers with needed statistics and resources.

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Stats in Your State

Before obtaining a life insurance policy, it is smart to have an idea of insurance statistics in your home state. Such information enables you to determine whether or not a particular policy would be a valuable investment. The graphs and charts below give consumers an idea of the importance of life insurance in Kansas.

Life Insurance in Kansas

Life insurance has a far-reaching impact on the economy, including Kansas’s economy. The $4 billion in benefits paid to Kansas residents in 2011 should be a clue for consumers to the significance of the industry.

Number of Licensed Life Insurers 486
Total Life Insurance Coverage $261 billion
Average Policyholder Coverage $110,000 per life insurance policyholder*
Amount Paid Out in 2011 $4 billion**
Amount of Paid Annuity Benefits in 2011 $653 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

Over 7,700 Kansas residents utilize government-run life insurance plans. The Service-Disabled Veterans’ Insurance distributes a sizable portion to retired servicemen and women.

The Life Insurance Industry: Beyond Insuring You

The life insurance industry is responsible for generating an appreciable number of jobs in the state of Kansas. The chart below gives a numerical value to the impact of life insurance on Kansas’s job market.

Job creator 21,000 jobs
Invested in Kansas 's Economy Approximately $35 billion are invested by life insurance companies in Kansas’ economy
Source: ACLI.com

Rules in Your State

As a consumer, you should know the rules and regulations in your state as they apply to life insurance policies. There are laws and provisions that prevent unfair practices from occurring, protecting you and your assets. Navigate through the resources below to become acquainted with Kansas’ life insurance procedures.

General Provisions Relating to Life Insurance Companies

Kansas Legislature’s 2012 Statute, Chapter 40.

Life insurance regulations are clearly laid out on the Kansas Legislature’s 2012 Statute. Consumers can use it as a resource for understanding things like certain penalties and actions taken in the event of insurance fraud, the duties of the insurance company when a beneficiary dies, and how paid-up annuity benefits are calculated.

Life Insurance and Annuities, Deceptive Practices, Requirements, and Prohibitions

Kansas Administrative Regulations, Agency 40. Insurance Dpmt, Article 2. Life Insurance

The Kansas Insurance Department highlights unfair and deceptive practices and consumer rights in lieu of life insurance policies.

Representatives & Resources in Your State

Occasionally, consumers need to go directly to the source of information to get their questions answered. The Simple Dollar has collected contact information for local insurance authorities and links to other relevant information so that Kansans may get their questions answered in person by the experts.

Kansas Life & Health Insurance Guaranty Association
2909 SW Maupin Lane
Topeka, KS 66614-5335
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Kansas Insurance Department
420 SW 9th Street
Topeka, KS 66612
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Consumer Complaint Resource
Consumers may use The Kansas Insurance Department’s consumer complaint guide to evaluate which companies have previously received complaints or to submit a complaint of their own.