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Offices Closed to Public

The Department of Commerce, Community, and Economic Development offices are closed to the public at this time. We are still open for business and encourage you to contact us via phone or email.

Life Insurance Considerations

Keep in mind that policy terms can vary significantly from one insurer to the next, and insurers frequently change the policies they offer.

Common Features

Term life insurance and permanent life insurance are the two basic types of life insurance that companies offer in various forms.

Premiums are determined based on the amount of coverage, the type of plan purchased, and your age and health status. 

Unlike term policies, permanent policies may have remaining values available to automatically pay premiums when a payment is missed or a policy is cancelled.

It is important to note that policies can be in force even if the payment of premiums has stopped or if money has been borrowed against the policy. Provided the policy was in force at death, there is no time limit on claiming a payout.

Settlement Options Grace Period Clauses Riders Taxes Claims Viatical Settlements

Other Considerations

Avoid Lost Policies Joint Policies for Couples Group Versus Individual Policies Changing Policies