Stats in Your State
This collection of charts and graphs provide you with an overview of life insurance coverage in the state of Oklahoma.
Life Insurance in Oklahoma
|Number of Licensed Life Insurers||505|
|Total Life Insurance Coverage||$245 billion|
|Average Policyholder Coverage||$99,000 per life insurance policyholder*|
|Amount Paid Out in 2011||$3 billion**|
|Amount of Paid Annuity Benefits in 2011||$723 million|
*Based on individual life insurance policies
**Includes death benefits, matured endowments, policy dividends, surrender values, and other payments.
Life Insurance Administered Programs
A significant portion of Oklahoma residents benefit from administered programs, with more than 11,000 veterans being life insurance policyholders and 5,500 service-disabled vets.
The Life Insurance Industry: Beyond Insuring You
The life insurance industry in Oklahoma not only creates a significant number of jobs for residents, but also generates a sizable amount of money toward the state economy.
|Job creator||17,000 jobs created|
|Invested in Oklahoma 's Economy||$44 billion|
Rules in Your State
Understanding the rules surrounding life insurance in Oklahoma will help you become a more informed consumer. Read the sources below for more information about regulations in your state.
- Oklahoma law prohibits insurers from terminating coverage due to a health condition.
- Oklahoma health insurance providers can deny applications based on risk factors and set premium rates.
- Oklahoma insurance providers are prohibited from cancelling a group policy if a member becomes sick.
- Self-employed residents may not purchase small business group plans.
- Policyholders can renew their coverage upon their choosing.
Representatives & Resources in Your State
When the time comes to purchase life insurance in Oklahoma, finding a trustworthy expert is key. If you need extra backing when filing a claim or you’re simply looking for a list of recognized providers, this list of dependable sources will help you get started on the right track.
Oklahoma Life & Health Insurance Guaranty Association
201 Robert S. Kerr Avenue Suite 600
Oklahoma City, OK 73102
Fax: (405) 236-3121
Phone: (405) 272-9221