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Massachusetts Life Insurance

 

Life Insurance Laws in Massachusetts are more designed to protect residents from claims instead of regulating the actual policies and coverage's like is done on many other types of Massachusetts Insurance.

 

Most all laws regarding Life Insurance are covered under chapter 175 of the Laws of Massachusetts.  This is where Massachusetts residents are guaranteed benefits like a 10 day free look.  A 10 day free look offers a consumer the right to cancel their life insurance policy, with in 10 days, for a full refund of their premiums.

 

Another mandated coverage for all Massachusetts Life Insurance Companies is for them to allow a 30 day grace period when it comes to paying premiums late.  As long as the premium gets to the insurance company within 30 days the policy is still considered in force.  If you buy Massachusetts Life Insurance, you are guaranteed that all claims will be paid within 30 days or the insurance company will face interest charges.

 

In Massachusetts, Life Insurance companies will pay fees to join the Massachusetts Life and Health Guaranty Association.  This association protects the consumers from the insurance company going broke and not being able to pay claims.  The association offers maximum pay outs of $300,000 for a life insurance death claim, and $100,000 for losses of cash surrender value.  All Massachusetts Life Insurance Companies must be licensed to be listed by this association so you can feel comfortable with the quality of company you are dealing with.

 

Massachusetts does offer some protections for Life Insurance Companies, one of which allows life insurance companies to terminate a policy, up to 2 years from when it was effective, for false statements made on the application.  Suicide is not covered by Insurance Companies in Massachusetts for the first 2 years.

 

 

 

 

Cities in Massachusetts

 

Boston MA

Worcester MA

Springfield MA

Lowell MA

Cambridge MA

Brockton MA

New Bedford MA

Fall River MA

Lynn MA

Quincy MA

 

 

 

 

Commonly Searched Terms

 

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Massachusetts Life Insurance Policies

 

There are many policies and options when choosing a Massachusetts Life Insurance Contract. The most important question to answer is: How much insurance do you need?  Once that question is answered you can decide which policy is right for your family. By speaking with a Massachusetts Insurance Agent you can fully understand the options available. QuicklyQuoteMe will give you some insight into the different policies available in the market place.

 


                          Request a Massachusetts Life Insurance Quote

 

MA Universal Life Insurance

This type of Massachusetts policy is also called MA permanent life insurance or MA whole life insurance. It provides either a level death benefit or variable death benefit to consumers. The underlying contract fund will grow on a more level basis than a comparable Massachusetts variable life insurance policy but it is certainly not Massachusetts guaranteed life insurance.

 

If you would like additional information about Universal Life Insurance in Massachusetts click here.

 


                             Request a Massachusetts Universal Life Insurance Quote

 

 

MA Variable Life Insurance

Massachusetts Variable Life Insurance combines permanent life insurance with an underlying investment account. It allows for further tax deferred savings in an account that can be accessed prior to retirement.  Each Massachusetts policy will allow many different fund options for the conservative investor or the aggressive. A professional Massachusetts Life Insurance Agent will be able to appropriately recommend when this policy. 

 

If you would like additional information about Variable Life Insurance in Massachusetts click here.

 


                            Request a Massachusetts Variable Life Insurance Quote

 

 

MA Term Life Insurance

Massachusetts Term Life insurance allows for an individual to fully protect their family while on a budget. It is offered in 10, 15, 20, and 30 year increments and is typically level for the entire time period. Due to many debts and financial obligations families are often left with less than adequate life insurance protection. By talking with a Massachusetts Insurance Agent you will get a proper recommendation for the correct amount of insurance. Many times it makes the most sense to combine a MA Whole Life Insurance Policy with a MA Term Life Insurance Policy into what is called a blend.

 

If you would like additional information about Term Life Insurance in Massachusetts click here.

 


                         Request a Massachusetts Term Life Insurance Quote

 

As a further resource for Massachusetts Life Insurance please go to this site and download the booklet:

 

Finding the Right Massachusetts Life Insurance Professional

A large part of the process is working with the right agent.  Start by asking for referrals to Massachusetts licensed agents from your accountants and/or attorneys. The attorney and accountant would be putting there reputation on the line if your future Massachusetts life insurance agent was unprofessional.

 

Does the Massachusetts agent have any professional designations? If an agent has one or more professional designations, it means that person has sought advanced training, passed rigorous exams and is serious about his or her professional growth and development. Keep in mind, though, that Massachusetts professional designations are just one factor to consider when choosing a Massachusetts agent. There are plenty of excellent Massachusetts insurance agents who haven't earned professional designations, so don't assume that one Massachusetts agent is better than another simply on the basis of earned designations, which are generally displayed as initials after his/her name.

 

Go through the following links to learn what some of the designations indicate:

Chartered Life Underwriter (CLU)

Life Underwriter Training Council Fellow (LUTCF)

Chartered Financial Consultant (ChFC)

Accredited Estate Planner (AEP)

Certified Financial Planner (CFP)

Registered Health Underwriter (RHU)

 

One other consideration is to ask whether the MA agent is a member of any professional organizations. This shows that the Massachusetts agent is actively involved in developing his or her skills and staying on top of the latest industry trends and developments. The three most prominent organizations are listed below:

National Association of Insurance and Financial Advisors (NAIFA)

The Million Dollar Round Table (MDRT)

Association for Advanced Life Underwriting (AALU)

 

 

QuicklyQuoteMe’s Opinion on Life Insurance

Try blending your coverage to meet your current needs and future needs.  This means that you will have some term life insurance and also some permanent life insurance.  When you are young and the mortgage is high it is important to protect your family against loss.  The permanent insurance will last a lifetime and allow for protection throughout retirement years.

 

QuicklyQuoteMe recommends sitting down with our licensed professionals to determine which level of blend will work for your family.  Take the time to plan a budget and lock in those rates.  Fill out an online form and speak to one of our agents directly, they all come highly recommended!

 

                           Request a Life Insurance Quote from one of QuicklyQuoteMe’s Agents

 

 

If you are a Life insurance agent looking for Massachusetts Life Insurance Leads click here.

 

 

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