Annuities & Life Insurance
Life insurance and annuities can be an important part of your family's long-term financial planning. However, shopping for the right coverage can be intimidating. That is why it is important to find a trusted advisor for guidance on which type of policies best fit your risk tolerance and investment objectives.
All life insurance policies have one thing in common – they're designed to pay money to the "named beneficiaries" when you die. The beneficiaries can be one or more individuals or even an organization. In most cases, policies are purchased by the person whose life is insured, but life insurance policies can be taken out by spouses or anyone who is able to prove they have an insurable interest in the person.
There are many different types of life insurance policies. However, they generally fall into two classes of life insurance products: term and cash value. You can also take out separate "riders" that allow you to modify or add to your policy's benefits.
Annuities are a financial contract with an insurance company that make a series of income payments to you at regular intervals in return for a premium and premiums previously paid. The value in an annuity contract is the amount in premiums you have paid, minus any applicable charges, plus any interest your premiums have earned. There are two types of annuity products: deferred annuities and fixed deferred annuities.
Since each individual's situation is different, please review the National Association of Insurance Commissioner’s descriptions and answers to frequently asked questions to help you better understand what you should consider before you speak to a financial advisor: https://content.naic.org/consumer/life-insurance.htm
Annuities
Life Insurance Policy Locator Service
The New Hampshire Insurance Department and the National Association of Insurance Commissioners (NAIC) have developed a Life Insurance Policy Locator Service to assist Granite State residents. This service is intended to assist family members, friends and legal representatives of deceased individuals, who may have purchased life insurance policies and annuity contracts in NH, locate policies with payable death benefits. If you believe a deceased loved one owns or is insured by life insurance or an annuity and you are unable to locate the policy or contract, please click on the link below to access the NAIC's Life Insurance Policy Locator portal.
Life Insurance Alerts
Resources
Have a question about your coverage?
Call the Consumer Services unit at 603-271-2261, in state toll free (800) 852-3416 or email consumerservices@ins.nh.gov.
