Life Insurance in New Mexico

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Data provided by the National Association of Insurance Commissioners indicates that in 2005, the population of New Mexico held 6.43 billion dollars in individual life insurance, 6.617 billion dollars in group life insurance, and 935 million dollars in credit life insurance. The total life insurance held being 13.982 billion dollars. New Mexico's 1.95 million residents recognize that life insurance provides important financial security and a means of savings.

If you live in New Mexico and are thinking of purchasing life insurance, you have many options. There are numerous insurance companies, brokers and financial services companies operating throughout New Mexico. Academy Life Insurance Company, Insurance Services of New Mexico and Allstate Insurance are just a few that have bases in the state.

Offices Responsible for Life Insurance in New Mexico

The office responsible for licensing and regulating the insurance industry in the state of New Mexico is the New Mexico Public Regulation Commission. The Commission is divided into various divisions, each charged with distinct responsibilities. The Life and Health Bureau, for example, conducts analysis of all life insurance policy forms and rates. Other bureaus handle fraud, investigations, licensing, and revenue.

Of particular use to consumers, the Commission posts periodic alerts on their website and offers advice and guidance about filing a complaint should the need arise.

Contacts for New Mexico Public Regulation Commission