Life Insurance - Delaware

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In 2005, according to The National Association of Insurance Commissioners' estimates, Delaware residents held approximately $11.9 million in individual life insurance policies and $34.6 million in group and credit life insurance policies. As one of Delaware's 843, 524 residents, you may be in the market for a life insurance policy and need information about how to purchase life insurance in Delaware. If so, this article will help you make an informed decision.

Purchasing life insurance can seem daunting. There are lots of options and each life insurance company has different products. If you live in Delaware, New York Life Insurance has an office in Newark that is very active in Delaware. American Life Insurance Company, with an office in Wilmington, may also be useful to check out.

Delaware Offices Responsible for Life Insurance

The Producer Licensing Division of the Insurance Commissioner's Office in Delaware is responsible for licensing, appointments, continuing education, producer investigations, and insurer licensing market conduct issues. This division is also responsible for protecting the interests of life insurance policyholders, should the issuing company become insolvent.

Title 18 (Formerly Regulation 25) regulates life insurance policies, as defined by the State of Delaware. Title 18 covers issues such as agent licensing, claims and investigation, general administration of Insurance regulatory laws, policy forms, rates and rating Organizations, rehabilitation and liquidation, and other related duties.

If you want to file a complaint against a life insurance company in Delaware, you can use the online complaint form.

Contacting the Delaware Department of Insurance