A Guide to Life Insurance in North Carolina (NC)

When exploring getting North Carolina Life Insurance Quotes that are right for you it is important to consider a number of different factors. In this article I am going to talk about how to get a great deal on life insurance in North Carolina and the state specific resources and information that you need to know about to get the best deals possible.

I am going to start out by looking at some background on North Carolina so that we get a feel for the state, and then progress into exploring NC Life Insurance and how you can save money and get the best possible insurance deal.

(To get some North Carolina Life Insurance Quotes right now simply put your zip cade in the box above, click Start, and then choose form the specially selected companies to get some instant, FREE, no-obligation NC Life Insurance Quotes right now :-))

(NC) North Carolina – A Little Background…

North Carolina is the 28th biggest state in the union in terms of land area (53,819 square meters), but the 10th in terms of the size of its population with some 9,535,483 people in 2010.

The largest city in North Carolina is Charlotte, which has gradually moved from being a city founded on furniture production and tobacco, to one that now has roots in finance, biotechnology and a whole host of other industries.

The Capital City of North Carolina is Raleigh which is known locally as ‘The City of Oak Trees’ because of its preponderance of oaks trees, and is also the second largest city in the state of North Carolina with a population of 403,892 in 2010.

North Carolina Life Insurance – The Facts About NC Life Insurance

Life Insurance is an important sector in North Carolina and the source of a considerable amount of jobs.

There are some 435 North Carolina Life Insurance Companies who are licensed to sell life insurance in North Carolina, and cumulatively the life insurance industry in North Carolina employs over 17,000 people directly, and a further 20,000 non-insurance jobs are supported by the sector according to the American Council of Life Insurers.

Some of the financial figures associated with the industry are truly impressive. It’s is estimated that $50 billion worth of individual North Carolina Life Insurance was purchased in 2009, and that overall the residents of North Carolina have $800 billion worth of death benefit cover.

In addition, Group North Carolina Life Insurance Cover amounts to $310 billion, and there were 6 million individual life insurance policies in the state, with an average amount of cover of $80,000 per policy holder.

In terms of what this meant to the residents of North Carolina in cold, hard cash every year; there were $10 billion worth of benefits paid out on life insurance policies, maturing endowments and surrender values in 2009, plus $2 billion of annuity benefits which were paid out, so the benefits to the communities of North Carolina from Life Insurance is considerable in financial terms.

Three Important Factors To Consider Before Getting Life Insurance in North Carolina

1/ All Life Insurance Is NOT The Same

It is first important to realise that all life insurance is not the same, and so you cannot merely judge policies based on the price.

You also need to factors in what type of life insurance it is (Term Life Insurance vs Whole Life Insurance for example), and whether or not there is a savings/annuity element with the policy, or whether you will only get paid out a death benefit.

There is no problem with simply going for a death benefit type of cover such as term life insurance, but you should always be clear about what you are buying.

2/ Consider How Much Cover You Need

Sit down and work out your current family expenses and what would be needed for your family to continue to live in the same manner.

You need to get some specific figures down on paper so that you can best serve your family by making sure that they are properly covered for the foreseeable future, and so that they can mourn with dignity, and not be scrabbling around for money in the event that you did die prematurely.

Once you get specific about numbers, then you will be in a much better position to get some North Carolina Life Insurance Quotes and see what the best available deal currently is.

3/ Getting Covered Younger Will Save You Money

The younger you are when you take out life insurance the less it will cost you. The reasons are obvious. Life insurance pays out on your death generally (though some types of Whole Life Insurance or Permanent Life Insurance do have a savings or annuity element as I have already alluded too); and so the younger you are, the less likely you are to die statistically.

The North Carolina Life Insurance Companies know this, and they price the policies accordingly. So make sure you take advantage of this fact and get covered as soon as possible to get the best price possible.

North Carolina Life Insurance – The Details

When you are considering the regulations and laws that surround life insurance in North Carolina, then these are codified by The State Insurance Code of North Carolina.

You can find these here:


It is useful to know where to find these, because if you do ever have any dispute with your NC Insurance Company, then you will at least know the rules that everyone has to adhere to.

North Carolina Life Insurance Resources

North Carolina Department of Insurance

It is the North Carolina Insurance Department that is responsible for regulating insurance in North Carolina, and which offers a whole host of advice to consumers, insurance professionals and insurance companies in the state of NC.


North Carolina Life & Health Insurance Guaranty Association

In the event of an insolvency with a life insurance company in North Carolina, it would be the North Carolina Life and Health Insurance Guaranty Association who would step in to help to protect consumers.



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