Getting life insurance in Colorado
Looking for a life insurance policy in Colorado? AccuQuote can help you compare prices, features and financial strength of dozens of life insurance policies.
We have helped hundreds of thousands of people find the best values on life insurance products since 1986. You will receive instant quotes from a number of top-rated, brand name life insurance companies for comparison and review.
Benefits of Colorado Life Insurance
The State Insurance Code of Colorado regulates the life insurance industry in the state. The code protects the interests of anyone purchasing a life insurance policy through provisions such as:
Processing of Death Benefits: All life insurance companies are required to settle death claims swiftly and efficiently. Assuming all the paper work is in order, this is usually within 30 days. The State Insurance Code of Colorado provides that life insurance companies pay interest on death benefits. Interest begins to be applied on the date the claim is filed. If the life insurance company does not pay within 30 days, interest rate increases on the 31st day.
Grace Period: Life Insurance companies must provide a 30-day grace period to Colorado insurance holders who miss a payment before canceling their policy.
Life insurance companies are protected by State Statutes and have the right to contest any information that a consumer puts on the application for up to two years from the date the policy has been issued. If any discrepancy is found, the life insurance company may terminate the policy.
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