Oregon Life Insurance

The Simple Dollar has put together this list of data and statistics for residents in Oregon to understand life insurance policies in their state. Whether you believe life insurance is a good investment or not, it’s best to be informed of the long-term benefits before making a decision.

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Stats in Your State

Take a look at this breakdown of life insurance stats in the Beaver State. Understanding these graphs can provide a clearer picture of life insurance costs and the benefits as they pertain to Oregon's economy.

Life Insurance in Oregon

Number of Licensed Life Insurers 454
Total Life Insurance Coverage $266 billion
Average Policyholder Coverage $155,000 per life insurance policyholder*
Amount Paid Out in 2011 $4 billion**
Amount of Paid Annuity Benefits in 2011 $1 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

Roughly 11,000 residents benefit from life insurance under administered programs. Many of these people have served time in the military and benefit from service-disabled coverage.

The Life Insurance Industry: Beyond Insuring You

In addition to providing support families when they need it the most, the life insurance industry also creates jobs and generates investments for the Oregon economy.

Job creator 18,000 jobs
Invested in Oregon 's Economy $51 billion
Source: ACLI.com

Rules in Your State

Since life insurance policies don’t require frequent updates, it’s crucial that you are aware of the rules and regulations in your own state and how they affect your policy from the moment you sign it. The life insurance rules shed a little light on state-specific standards that Oregon residents should know.

Oregon Life Insurance Laws

You’ll find several laws in place to protect consumers regarding life insurance. Some regulations include information about reinstatement, grace period, and prohibited provisions.

  • By law, you are entitled to a full refund of premium if you return the policy within the “free look” period.
  • The insurer must clearly describe in the contract any surrender charges and other deductible fees.
  • Oregon law prohibits the purchase, sale, or replacement of life insurance unless sellers make a reasonable inquiry concerning the consumer’s objectives, financial situation, needs, age, and other relevant information.


According to Oregon Administrative Rule 836-080-0090, it is the responsibility of the insurance agent to determine a product’s suitability to the consumer. Read more.

Representatives & Resources in Your State

Life insurance policies can be confusing at times, and sources of accurate information can be invaluable in these situations. If you run into any hiccups with your coverage, feel free to contact one of the following resources in order to receive the assistance you need.

Oregon Insurance Division
350 Winter St NE
Salem, OR 97301-3883
Phone: (503) 947-7980
Fax: (503) 378-4351
Toll-free: (888) 877-4894
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How to select an insurance agency
Tips and tricks for selecting an insurer that matches your needs and preferences..
Your rights when purchasing insurance and annuities
An extended look at the laws and statutes protecting consumers when purchasing life insurance policies.