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Did You Know?Kansas State Facts
- Kansas was the 34th state in the USA
- Major industries include; agriculture (wheat and other grains), aircraft manufacturing, automobile manufacturing
Sally D. Topeka, KS
April 8, 2011
The Kansas state of the US derives its name from the River Kansas that flows through it. It is located in the Midwestern region of the US. Kansas residents are referred as Kansans. European Americans were the first inhabitants of Kansas. The state became a part of the Union on January 29, 1861. Currently, Kansas is ranked 24th among the 50 US states and the District of Columbia, when it comes to Life Expectancy. The average life expectancy of people in Kansas is 77.3 years. The residents of Kansas are becoming increasingly aware of the benefits offered by a life insurance policy. If youâ€™re a Kansas resident and are planning to purchase a Kansas life insurance policy, following information will help you:
Brief information on Kansas life insurance:
Kansas life insurance policies donâ€™t have much specific regulations regulated by the State Department of Insurance. Having said that, there are some specific provisions that the Kansas State Department of Insurance has designed to oversee and safeguard the rights of both the consumers (insured) as well as the insurers. The Kansas life insurance industry is regulated as per the Title of The State Insurance Code of Kansas.
The Kansas life insurance policy makes it mandatory for all the insurance providers in the state to allow the policy-holders, a 30-day grace period on late payments. Thus, if you happen to miss your insurance premium due to some genuine reason, youâ€™ll have a 30-day grace period to clear the dues. Your insurance provider canâ€™t cancel your policy within the period of these 30-days.
As a life insurance policy holder in Kansas, youâ€™ll be offered some guarantee of protection by the Kansas Life and Health Insurance Guaranty Association. With the help of this organization, you can cover policies in case of insurance company insolvency. Nevertheless, there are certain restrictions associated with this protection.
In the Kansas state, the compensations associated with lost death benefit proceeds may not go beyond $300,000 per insured person. Also, the net cash withdrawal canâ€™t go beyond $100,000. Remember, these limits will apply even if you own multiple insurance policies with a higher amount of total coverage. If you wish to qualify under the Kansas Life and Health Insurance Guaranty Association, itâ€™s essential for you to purchase your life insurance policy from a licensed insurer.
A life insurance policy offers a convenient and an effective way to ensure a secured financial future for your family. Now that you have brief information about Kansas life insurance policy, ensure to purchase the most suitable one.