Life Insurance in Colorado

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Colorado is a state that is growing by leaps and bounds, with over a 13% increase in population between the year 2000 and 2008. As far as area goes, this rectangular state comes in at 8th place, and its population places it at 22nd.

The Federal Government is an important employer in Colorado, maintaining such facilities as NORAD, the United States Air Force Academy, and Peterson Air Force Base in Colorado Springs; NOAA and the National Institute of Standards and Technology in Boulder; the U.S. Geological Survey and other government agencies at the Denver Federal Center in Lakewood; the Denver Mint, and Buckley Air Force Base., in or around Denver. Tourism is also a big draw in Colorado as there are four national parks in the state.

According to the Colorado Insurance Industry's Statistical Report, for 2006, "Coloradans paid over 25 billion dollars in premiums to approximately 1,549 companies, with 31 companies accounting for over 50% of that total." Of this amount, 32% of those premiums were paid on health and accident insurance, and 11% went to life insurance.

Colorado Offices Responsible for Life Insurance

For information regarding life insurance companies in Colorado, check out the Colorado Division of Insurance. Here, consumers can look up the license of any company they're thinking of doing business with, and report any problems they may have with an insurer.

Since the year 2007, September has become known as National Life Insurance Month in Colorado. The purpose of the month is to alert and educate Coloradans about the importance of having life insurance, also about the need to adjust life insurance policies as one's family life changes.

The legal statutes that regulate life insurance are defined in Colorado's Title 10. These regulations cover every step in the life insurance process, from which companies are allowed to become licensed to how they must conduct their business.

The Life and Health Insurance Protection Association was created by the Colorado legislature to help Colorado residents whose annuities, health insurance, or life insurance policies, are held by a company that becomes insolvent and cannot pay its claims.

Contacting the Colorado Division of Insurance