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newfoundland and labrador life insurance

Learn about Newfoundland and Labrador Life Insurance Plan

Newfoundland and Labrador has a relatively low cost of living when compared to the rest of Canada. For instance, rent prices in Toronto are 123.99 percent higher than in Saint John’s NL. Even with the low cost of living in the province, the cost of Newfoundland and Labrador life insurance is similar to the rest of Canada but with lower face value. Call Insurdinary for the best life insurance quote Newfoundland and Labrador residents can afford.

Newfoundland and Labrador has over 200 insurance companies; with several life insurance policies available for Newfoundland and Labrador residents, it will be difficult for you to find just the perfect coverage for you. This is why our experts at Insurdinary have compiled the best insurance quotes from Newfoundland and Labrador insurance providers to help you to compare the policy options available to you and save on your coverage easily.

We understand the importance of life insurance coverage to you. With the cost of everything increasing, from groceries to gas, you don’t want to leave your family and dependents in a financial mud in the event of your death. You need a good Newfoundland and Labrador life insurance policy to ensure that your dependents are financially protected even if you lose your source of income.

You can call Insurdinary today for the best quotes and results on Newfoundland and Labrador life insurance. We work with some of the best and renowned insurance providers in Canada and Newfoundland and Labrador in particular. This ensures that you get the best quotes at the most competitive price.

To learn more about life insurance in Newfoundland and Labrador click here.

Compare Newfoundland and Labrador Life Insurance Quotes

One of the most important requirements for getting the best life insurance coverage in Newfoundland and Labrador is knowing exactly what you want. But even if you know what you want, you still need to compare various Newfoundland and Labrador life insurance policy options to choose the best service. This could be a herculean task for you with so many life insurance policy options out there.

With our expert advice and services at Insurdinary, you can get the best Newfoundland and Labrador life insurance quotes and policy at the best price. We can help you to save a lot of money on your policy and also save time that you could have been used to compare insurance policies. Our experts know the best coverage available, this allows us to know exactly what to compare depending on your needs and budgets.

When you call Insurdinary, you can be sure of the best guidance and service to make the most of your policy. We work with the best providers in Newfoundland and Labrador and we can help you get the right quotes at the most competitive price. You are only a call away from the best insurance quotes and services available in Newfoundland and Labrador. Contact us and give yourself, your dependents, family and loved ones the life insurance protection they deserve.

To get a life insurance quote click here.

Newfoundland and Labrador Insurance Regulatory Body

The regulatory body for insurance in Newfoundland and Labrador is known as Service NL. Service NL is authorized to oversee all insurance matters. They mediate disputes that involve insurers, brokers and adjusters to ensure that the public is protected.

Service NL regulates all forms of insurance in the province. These include health, life, auto and property insurance, and so forth. They also define the fee schedules for the coverage options, complaints, liability and fidelity coverage, application of insurer license, application of adjuster license, confirmation of insurance coverage, and so forth.

Since 1998, the Superintendent of Insurance provides reports on the annual insurance progress in the province of Newfoundland and Labrador. For instance, the 2017 report of the Superintendent of Insurance indicates that the total life insurance disbursement increased by $24,171,000 (9.34%) in 2016. The report also pointed out that the total life insurance premium and annuity considerations increased by $53,959,000 (14.33%) in 2016. Also, there were 200 insurance companies licensed in Newfoundland and Labrador in 2017.

The Newfoundland and Labrador insurance regulator also oversees and implements several insurance acts such as insurance adjusters, agents and brokers act, fire insurance act, insurance companies act, life insurance act, and many more. The insurance act stipulates the constitutions that must be obeyed by agents and businesses in the insurance industry. It defines the jurisdiction of the insurance coverage, application of the insurance and documents that should be provided before an insurance contract can be considered as legally binding.

To learn more about Newfoundland and Labrador insurance regulatory body click here.

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Life Insurance By Province

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Provincial Life Expectancy

Year
Rate Change
Alberta
81.4
British Columbia
82.3
Manitoba
79.7
New Brunswick
79.9
Newfoundland and Labrador
80.1
Northwest Territories
79.3
Nova Scotia
80.8
Nunavut
76.7
Ontario
81.7
Prince Edward Island
79.9
Quebec
81.5
Saskatchewan
79.7
Yukon
77.4

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