Life Insurance in Kansas
Have you been thinking of purchasing a life insurance policy? Life insurance plans in Kansas don’t have many state-specific regulations by the Department of Insurance like auto and health insurance policies. But, there are specific provisions that the department has created to oversee and offer protection to the rights of anyone who wants to buy a plan from an insurance company in Topeka, KS. The Blackstone Agency offers a wide range of life insurance coverage options to consider.
Why do you need to purchase life insurance coverage?
When you have a life insurance plan, you feel secure because you know your beneficiaries will get the help they require to cover your sendoff expenses as well as other financial needs they may face when you are gone. It’s always wise to prepare for the inevitable as early as you can. So, if you live in Kansas, consider the different life insurance options that reliable insurers provide to maximize your benefits. The benefits of a policy can go toward education for your children, debt, and much more.
Life insurance specifics in Kansas
The State Insurance Code of Kansas regulates the insurance sector in this state. This code is used to provide certain provisions for protecting customers and to regulate claims. Some of the regulations include:
- Suicide – Your Kansas life policy cannot pay death benefits if it determines that your cause of death was suicide. Also, if your policy isn’t more than two years old, your insurer will not offer benefits. In these cases, your beneficiary will only get a refund of the total premiums you paid.
- Grace period – according to the Kansas insurance code, all insurance companies are mandated to allow a grace period of 30 days on late payments. So, when you miss your premium payment, your insurer must give you a month to update your account before they cancel your policy for non-payment.
For more information or a quote on life insurance, be sure to contact The Blackstone Agency, serving Topeka, KS and around the state.