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home > state guides > Mississippi Mississippi Life InsuranceMississippi life insurance laws, like those in the majority of states, affect policyholders mostly at the time of a claim. Nevertheless, it's a good idea to learn the basics of your state's laws, in order to make more informed coverage decisions. This page:
Mississippi life insurance regulations (summary)The insurance industry in the State of Mississippi is regulated under Title 83 of the Mississippi Code. Under these codes, claims procedures and policy requirements are regulated by the state as a way of protecting you, the consumer. Sidebar The State of Mississippi Life Guaranty AssociationThe Mississippi Life Guaranty Association is your protection against an insurance company's failure. However, in order to receive the protection this organization offers, you must have insurance coverage through a licensed insurance company. To find out if your insurance company is licensed, contact the Mississippi insurance hotline at 800 562 2957 or 601 359 2453. Life insurance illustrations and other notesViatical settlements are allowed in Mississippi. Viatical settlements are agreements between the insured and a third party. The third party purchases a life insurance policy for a sum and starts paying the policy's premiums. In return, the viator becomes the beneficiary of the insurance policy and collects the death benefit upon the insured's death. More MS life insurance helpIf you want more help getting the best value life insurance policy, start with our guide to term life insurance or sign-up for our free life insurance course (see below). For more help . . .Getting the lowest possible premium on your life insurance is almost like an art form. There are many variables to consider, and to get the right balance of term length, benefit amounts, and policy riders and illustrations, you need to take a careful step-by-step approach to the buying process. |
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and is not intended to be legal and or financial advice. We make no guarantees as to the validity of the information presented.
Your particular facts and circumstances, and changes in the law, must be considered when applying insurance law.
You should always consult with a competent financial planner, attorney, or insurance professional licensed in your state
with respect to your particular situation. YMMV.
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