Stats in Your State
The data below is provided to help North Carolina residents to make informed decisions about their long-term future, but to understand their rights as policyholders in the state. You’ll also find stats that illustrate the important role the life insurance industry plays in the larger scheme of the North Carolina economy.
Life Insurance in North Carolina
|Number of Licensed Life Insurers||437|
|Total Life Insurance Coverage||$887 billion|
|Average Policyholder Coverage||$86,000 per life insurance policyholder*|
|Amount Paid Out in 2011||$12 billion**|
|Amount of Paid Annuity Benefits in 2011||$2 billion|
*Based on individual life insurance policies
**Includes death benefits, matured endowments, policy dividends, surrender values, and other payments.
Life Insurance Administered Programs
Over 11,000 North Carolina residents were enrolled in National Life Insurance as of October 2012. And more than 14,000 service members held policies in administrative programs such as the Service-Disabled Veterans' Insurance, Veterans' Reopened Insurance, or Veterans' Special Life Insurance.
The Life Insurance Industry: Beyond Insuring You
|Job creator||The life insurance industry generates approximately 41,000 jobs in North Carolina, including 18,000 direct employees and 23,000 non-insurance jobs.|
|Invested in North Carolina 's Economy||Life insurance companies invest approximately $122 billion in North Carolina’s economy.|
Rules in Your State
Life insurance policyholders in North Carolina are strongly encouraged to review the state laws and regulations governing various aspects of their coverage.
The NCLIFEGA is the official state guaranty program for life insurance policyholders in North Carolina. The system works like a kind of insurance for your insurance, but the Act also comes with certain coverage limitations and exclusions. Established in 1974, North Carolina’s guaranty association was one of the first of its kind in the U.S.
The RAD Trust monitors troubled insurance entities and ensures that the rights of insured North Carolina residents are protected.
Representatives & Resources in Your State
For consumer advocacy, help with a claim, or to learn more about your local government’s resources, use the links below to get connected with resources in North Carolina.
North Carolina Department of Insurance
The NCDI handles all life insurance provider review and licensing in North Carolina. Consumers who have been treated unfairly can file a complaint with the Department of Insurance using the above link or they can write to:
Consumer Affairs Division
1201 Mail Service Center
Raleigh, NC 27699-1201
Consumer Complaint Info
NCDI’s Index of Licensed Life Insurance Providers
This is the master list of carriers that are approved to sell life insurance in the state of North Carolina.
NCDI Consumer Guide to Life Insurance
This guide will cover all the essentials of life coverage for current and prospective life policyholders. It includes sections to help readers compare term life and permanent life policies, shop and apply for life policy quotes, collect death benefits and file complaints against providers registered in North Carolina.