Stats in Your State
Before you dive into shopping for policies, take a moment to get a perspective on the size and scale of the life insurance industry. With just a few handy charts, you will see the full perspective on the industry’s immense impact on Vermont’s economy, both in terms of jobs and benefit payouts.
Life Insurance in Vermont
In 2011, more than $1 billion was paid out to Vermont life insurance beneficiaries and policyholders, accounting for a huge chunk of Vermont’s economy and income for its residents. With $48 billion in total coverage, it’s no wonder that residents of the state see large payouts each year.
|Number of Licensed Life Insurers||343|
|Total Life Insurance Coverage||$48 billion|
|Average Policyholder Coverage||$108,000 per policyholder*|
|Amount Paid Out in 2011||$850 million**|
|Amount of Paid Annuity Benefits in 2011||$206 million|
*Based on individual life insurance policies
**Includes death benefits, matured endowments, policy dividends, surrender values, and other payments.
Life Insurance Administered Programs
Approximately 1,200 servicemen and women benefit from government-administer life insurance programs in Vermont, and an additional 700 veterans also hold policies through similar programs, seeing annuities and dividends payouts on a yearly basis.
The Life Insurance Industry: Beyond Insuring You
Beyond just payouts and benefits, the life insurance industry supports thousands of households with roughly 4,000 jobs and about $7 billion invested in the state economy in the form of business investments and bonds.
|Job creator||4,000 jobs generated|
|Invested in Vermont 's Economy||$7 billion invested in Vermont’s economy|
Rules in Your State
Readers will find regulations that apply across the insurance industry, as well as specific claims practice standards. Read through guidelines to get a feel for how claims must be handled in Vermont. If you suspect your rights have been compromised, contact an attorney for a consultation.
Representatives & Resources in Your State
In addition to rules and regulations, readers can find additional information and assistance from the government agencies listed below. Whether you need support on a particular claim or issue, or you’re just looking to delve a little deeper into your options for life insurance, get in touch with the Insurance Division at the link below.
Vermont Department of Financial Regulation: Insurance Division
State of Vermont
Department of Financial Regulation
89 Main Street, Montpelier, VT 05620 – 3101
Consumer Complaint Resource
Use this link to access a wealth of consumer guides and information from the Insurance Division, all of which are designed to educate and inform consumers about different types of insurance policies and coverage in Vermont.
Vermont Life & Health Insurance Guaranty Association
One National Life Drive, Suite M585
Montpelier, VT 05604
The Life and Health Insurance Guaranty Association serves as a financial backer to insurance companies across the state, and guarantees that your insurance policy will remain in effect even if your insurer goes bankrupt or withdraws from the market.