Stats in Your State
While it may be surprising to some, the life insurance industry generates a significant amount of income for residents in the form of benefits, annuities, and jobs created. The information below might surprise readers with the economic impact the life insurance industry has in New Hampshire.
Life Insurance in New Hampshire
With nearly $2.5 billion in benefits paid out to New Hampshire residents in 2011, the life insurance industry accounts for a notable portion of New Hampshire’s economy, and residents have a large stake invested in life insurance policies with the state’s 332 licensed insurers.
|Number of Licensed Life Insurers||332|
|Total Life Insurance Coverage||$121 billion|
|Average Policyholder Coverage||$146,000 per policyholder*|
|Amount Paid Out in 2011||$2 billion**|
|Amount of Paid Annuity Benefits in 2011||$439 million|
*Based on individual life insurance policies
**Includes death benefits, matured endowments, policy dividends, surrender values, and other payments.
Life Insurance Administered Programs
Over 4,500 New Hampshire residents participate in government administered life insurance programs, with the majority of those policyholders being members of the U.S. armed services and retired veterans.
The Life Insurance Industry: Beyond Insuring You
You might be surprised to know that roughly 10,000 jobs stem either directly or indirectly from the life insurance industry in New Hampshire, along with roughly $18 billion in investments in the form of bonds and loans.
|Job creator||10,000 jobs|
|Invested in New Hampshire 's Economy||$18 billion invested in New Hampshire’s economy|
Rules in Your State
Below you’ll find the pertinent regulations and legal codes that apply to life insurance, and to consumer rights in general. Use the links to read up on the current legislation in place in New Hampshire.
Unfair Insurance Trade Practices in New Hampshire: If you’ve had difficulty with an insurance claim, read through the list of unfair acts and practices, and consider consulting with an attorney to assist you.
Life Insurance Regulations: >The above link lists the life insurance regulations in New Hampshire. As it may make for some dense reading, don’t hesitate to contact the Insurance Department for assistance on an issue.
Minimum Standards for Accident and Health Insurance: This regulation outlines the basic functions of accident and health insurance and stipulates how insurers must conduct business in the state.
Representatives & Resources in Your State
The following links provide consumers with resources and information on life insurance in New Hampshire. The Insurance Department has numerous useful guides and pamphlets on different types of life insurance policies and how to best choose the one that’s right for you.
New Hampshire Insurance Department
21 South Fruit Street, Suite 14
Concord, NH 03301
Consumer Complaint Resource
Life, Accident, and Health Insurance Information
The above link covers questions and information on both life insurance and health insurance.
New Hampshire Life & Health Insurance Guaranty Association
10 Chestnut Drive, Unit B
Bedford, NH 03110
The National Life and Health Insurance Guaranty Associations provide financial backing to your insurer and guarantee your policy will stay in effect even if your insurer drops out of the market or becomes financially unstable.