Life Insurance in Massachusetts

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According to the 2005 U.S. Census Bureau, Massachusetts has a population of 6,398,743. Because the population is ever growing, life insurance is becoming an important issue. The National Association of Insurance Commissioners estimates that citizens of Massachusetts held individual policies worth $381 billion and group policies of $247 billion. This adds up to a total of over $600 billion in life insurance in the state.

Insurance companies whose headquarters are located in Massachusetts include Massachusetts Mutual, John Hancock, and Liberty Mutual.

Offices Responsible for Life Insurance in Massachusetts

Insurance industry regulation is handled by the Massachusetts Division of Insurance. The Division publishes a wide range of information for insurance consumers including how to avoid insurance fraud, how to be covered for natural disaster, and how to plan for financial security in a variety of life and family stages.

If you are ever in the position of filing a complaint against an insurance company, the complaint form and directions are available online. The Massachusetts Division of Insurance will investigate questionable insurance activity and bring any valid complaints to the Division's Financial Surveillance staff.

If your insurance company has gone out of business, the Massachusetts Life & Health Insurance Guaranty Association will meet its obligations. The guaranty association was created by the Massachusetts legislature in 1986 to protect consumers.

Contacting the Department of Insurance in Massachusetts