Life Insurance in Montana

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Montana residents, in 2005, held approximately $3.5 million in individual life insurance policies and $19.1 million in group and credit life insurance policies, according to The National Association of Insurance Commissioners' estimates, Life insurance is an important part of personal financial planning, so ss one of Montana's 936,000 residents, you may be in need of Montana-specific life insurance information to help you make informed decisions.

Insurance is the third largest industry in the state of Montana. Captive insurance, in which companies and groups create their own insurance plans, is also a growing part the insurance marketplace in Montana. Captive insurance provides a number of appealing options including tax benefits, more autonomy than traditional insurance, and regulatory efficiency. Captive plans can also be highly cost effective.

Montana Offices Responsible for Life Insurance

The Insurance Commissioner and the Insurance Division is responsible for the regulation of all insurance matters in the state, which includes licensing, continuing education, and consumer insurance needs.

Consumers can research companies they are thinking of doing business with to check their licesnces and whether they have had complaints filed against them. If you find yourself in the position of having to file a complaint against an insurance company, an online form is available here.

The legal statutes that regulate life insurance, along with charitable gift annuities, structured settlement protection, and funeral insurance, are defined in Montana's Title 30, Chapter 20..

Contacting Montana's Insurance Division