Life Insurance Sales State Law Survey

Summary

This survey addresses state law on different types of life insurance and life annuities, the solicitation and sale of insurance, use of plain language, buyers' guides, and free-look period. The survey covers all 50 U.S. states, the District of Columbia, Puerto Rico, Guam, and the Virgin Islands. Most states protect consumers by requiring insurers to use plain language in life insurance policies and annuity contracts, provide buyer's guides, and/or mandate free-look periods during which buyers may cancel without penalty.