Massachusetts Overview


Top 10 Largest Cities

Did You Know?

Massachusetts State Facts
  • Massachusetts was the 6th state in the USA; it became a state on February 6, 1788
    • Boston is the capital and largest city of MA

Customer Reviews

Reviews by Massachusetts
William L. Boston, MA
Saved $999!
Big Savings! Thanks. Great Website...
Massachusetts life Insurance:

Get a Massachusetts
Life Insurance Quote Now
Zip Code:

April 11, 2011

The Commonwealth of Massachusetts is a state located in the New England region of northeastern United States. The eastern half of the state comprises of urban, semi urban and rural areas, whereas, the western half of Massachusetts is mainly rural area.

Massachusetts, unlike other states in US does not regulate life insurance on policy level. However, the State Department of Insurance regulates other types of insurance such auto insurance or health insurance. However, there are certain other provisions that are specific to Massachusetts that regulates the terms and conditions of life insurance in the state. The provisions regulate the life insurance policies pertaining to illustration requirements, medical exam requirements, free look time constraints and underwriting. If you are looking for a Massachusetts life insurance you need to be aware of these rules.

Massachusetts is ranked amongst the top 5 states in the United States with high life expectancy rates. The average life expectance of the states inhabitants is about 78.4 years. Though the state has high life expectancy rate, almost 800 people out of every 100,000 people aged between 55 and 64 pass away each year. The mortality is more than double for people aged between 75 and 84; more than 2000 people pass away every year. In the purview of such high mortality rates, if you are Massachusetts state resident it is essential that you buy a life insurance policy to provide protection to your family members from any mishap.

Massachusetts Life Insurance Specifics

  • Free Look:

    According to state code the insurance company must have ‘free look’ provision in all Massachusetts life insurance plan. The free look provision allows you the policy holder to bring changes in the insurance contract even after it is signed and agreed upon. The insurance companies usually provide 10 days grace period to rectify the terms without any penalty. Some companies allow 30 days grace period.

  • Payment of death benefit:

    As per the State code, life insurance companies in the state are required to make payments of death benefit claims as soon as the claim is filed. If all the documentation is in order the company has to make payments within 60 days. The code also requires the company to pay interest on the benefit amount if it doesn’t pay on time.


Other Life Insurance Resources:
All Content Copyright © 2009 Paramount Life Insurance of Massachusetts