New Hampshire Life Insurance

New Hampshire life insurance laws deal primarily with claims issues. However, familiarizing yourself with some basic regulations is still key to making wise coverage decisions.

This page:

  • Briefly describes New Hampshire life insurance regulations.

  • Explains the New Hampshire Guaranty Association's protection.

  • Links to more information on life insurance in New Hampshire

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New Hampshire life insurance rights and regulations

The insurance industry in New Hampshire is regulated under Title 37 of the New Hampshire Revised Statutes. Under these codes, claims procedures and policy requirements are overseen by the state in order to protect you, the consumer.

One such protection lies in the 30-day grace period on late premium payments included in all life insurance policies. New Hampshire law requires insurers to allow policyholders this time in which to pay overdue premiums without the risk of policy cancellation.

New Hampshire law also obligates insurers to settle claims within 30 days of receipt of proof of death. If settlement is not finalized by this time, the proceeds should begin accruing interest (to be included in the final settlement).

However, New Hampshire law does extend some protection to insurers as well. Any claim made within the first two policy years may result in an investigation by the insurer. If any misstatements are found on the policy, or its application, the insurer can deny the claim.

A misstatement of age can be discovered at any point during the life of the policy. In this case, death benefits will be adjusted to reflect the actual age of the insured.

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If you are ready to apply for a New Hampshire term life insurance policy, or if you just want a quick online quote, visit Netquote now.
If you are not sure about what type of life coverage you want, you can also try Insurecom. They will put you in touch with agents who can answer any questions that you might have.

The New Hampshire Life Insurance Guaranty

If your life insurance policy is underwritten by a licensed insurance company, you qualify for the protection of the New Hampshire Life & Health Insurance Guaranty Association. This organization helps compensate policyholders in the event of insurer bankruptcy.

However, the protection does have restrictions. Compensation for lost death benefits in New Hampshire is limited to $300,000, and compensation for cash surrender is limited to $100,000.

Further, an insurer must be licensed in New Hampshire to qualify for the backing of the guaranty. You can check the status of your insurer by contacting the New Hampshire Insurance Department at 1-800-852-3416.

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Apply for a quote with confidence at Netquote
(for New Hampshire term life insurance), or Insurecom.
Your insurer will be licensed in New Hampshire.

More NH life insurance help

If you want more help getting the best value on your NH life insurance policy, start with our guide to term life insurance or sign-up for our free life insurance course (see below).

To find out more about NH life insurance laws and regulations, visit the official website of the State of New Hampshire Insurance Department.

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.

Our free life insurance course is designed to help you do just that.

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