--- title: Life Insurance in Indiana: Quotes and State Rules url: https://coverfolk.com/states/indiana updated: 2026-10-08 --- # Life insurance in Indiana Free quotes from licensed Indiana agents, plus the state rules that protect you, in plain words. [Your rights](#rights) Updated October 8, 202616 sources[Fact checked](/editorial-standards) Indiana The short answer In Indiana, you get at least 10 days to return a new life policy for a refund, a 30 day grace period if you miss a payment, and up to $300,000 of protection if your insurance company fails. ## Your rights in Indiana Free look : 10 daysReturn a new policy for a full refund. Grace period : 30 daysCoverage stays on while you catch up. Safety net : $300,000Death benefit protection. Cash value: $100,000. State help line : [1-800-622-4461](tel:18006224461)Indiana Department of Insurance 10 days after you get the policy, for a full refund. You can return it to the company or to the agent (IC 27-1-12-43). At least 30 days for every premium after the first (IC 27-1-12-6). * If an Indiana life insurer does not pay within 30 days after a death, it owes interest from that day, at no less than the rate it pays on money left on deposit (IC 27-1-12-35). * Indiana's Unclaimed Life Insurance Benefits law makes insurers compare their policies against the federal Death Master File and act when they find a possible death (IC 27-2-23). ## Who lives in Indiana About 6.9 million people live in Indiana. We help people in Indianapolis, Fort Wayne, South Bend and the towns in between. **70.6%**of homes are lived in by the owner. Median value $218,200. **17.5%**of people are 65 or older **328,414**veterans live here **$71,957**median household income Census QuickFacts, American Community Survey 2020 to 2024. The 65 and over share is a Census population estimate for July 1, 2024. ## What people in Indiana look for **Mortgage protection** With 70.6% of homes owned and a median value of $218,200, a lot of families want the house covered. [More on mortgage protection](/coverage/mortgage-protection) **Final expense** 17.5% of people here are 65 or older. A small policy keeps funeral costs off your family. [More on final expense](/coverage/final-expense) **Term life** The lowest price for the most coverage while the kids are young. [More on term life](/coverage/term-life) **Veterans** 328,414 veterans live in Indiana. See what goes beyond VGLI. [More on veterans](/jobs/veterans) ## Common questions in Indiana What is the free look period for life insurance in Indiana? Indiana gives you at least 10 days to review a new individual life policy and return it for a refund. 10 days after you get the policy, for a full refund. You can return it to the company or to the agent (IC 27-1-12-43). Source: [Indiana free look law](https://codes.findlaw.com/in/title-27-insurance/in-code-sect-27-1-12-43/) What happens if I miss a payment in Indiana? Indiana law gives at least a 30 day grace period. At least 30 days for every premium after the first (IC 27-1-12-6). Source: [Indiana grace period law](https://codes.findlaw.com/in/title-27-insurance/in-code-sect-27-1-12-6/) What if my life insurance company goes out of business in Indiana? The Indiana Life and Health Insurance Guaranty Association steps in. It protects up to $300,000 in death benefits and $100,000 in cash value, per insured person, as of June 2025. Source: [Indiana Life and Health Insurance Guaranty Association](http://www.inlifega.org) · [NOLHGA: how you are protected](https://nolhga.com/policyholders/how-youre-protected/) Who regulates life insurance in Indiana? The Indiana Department of Insurance. You can call its consumer help line at 1-800-622-4461 or visit www.in.gov/idoi/consumer-services/ to check an agent's license or file a complaint. Source: [Indiana Department of Insurance](https://www.in.gov/idoi/consumer-services/) Can I get a life insurance quote online in Indiana? Yes. Coverfolk works with licensed agents in Indiana. Answer a few questions, confirm your phone with a text code, and an agent shows you real prices. It is free. Source: [Indiana Department of Insurance](https://www.in.gov/idoi/consumer-services/) ## Sources 1. [Census QuickFacts Indiana (ACS 2020-2024)](https://www.census.gov/quickfacts/fact/table/IN/PST045224) 2. [NOLHGA: How You're Protected (coverage as of June 1, 2025)](https://nolhga.com/policyholders/how-youre-protected/) 3. [NOLHGA: Contact My Guaranty Association](https://nolhga.com/policyholders/contact-my-guaranty-association/) 4. [NOLHGA: Indiana guaranty association law summary (IC 27-8-8)](https://members.nolhga.com/factsandfigures/main.cfm/location/statedetail/stateID/15) 5. [IDOI Guaranty funds](https://www.in.gov/idoi/consumer-services/types-of-insurance/guaranty-funds/) 6. [IC 27-1-12-43 (FindLaw)](https://codes.findlaw.com/in/title-27-insurance/in-code-sect-27-1-12-43/) 7. [IC 27-1-12-6 (FindLaw)](https://codes.findlaw.com/in/title-27-insurance/in-code-sect-27-1-12-6/) 8. [IDOI Life and Annuity Review Standards](https://www.in.gov/idoi/compliance-rates-and-forms/life/life-and-annuity-review-standards) 9. [IC 27-1-12-35 (Justia)](https://law.justia.com/codes/indiana/title-27/article-1/chapter-12/section-27-1-12-35) 10. [IC 27-2-23 Unclaimed Life Insurance Benefits (Justia)](https://law.justia.com/codes/indiana/title-27/article-2/chapter-23/) 11. [IDOI Consumer Services](https://www.in.gov/idoi/consumer-services/information/) 12. [Census Reporter: Indiana profile (ACS 2024 1 year)](https://censusreporter.org/profiles/04000US18-indiana/) 13. [Visual Capitalist: Median rent by state (Census ACS 2024 1 year, table B25064)](https://www.visualcapitalist.com/mapped-median-rent-by-u-s-state/) 14. [HomeSnacks: US housing statistics (Census ACS 2024 1 year: owner rate, median home value)](https://www.homesnacks.com/us-housing-statistics/) 15. [KFF: Median annual household income by state (Census ACS 2024 1 year)](https://www.kff.org/state-health-policy-data/state-indicator/median-annual-income/) 16. [Census population estimates, July 1, 2024 (share 65 and over)](https://www.census.gov/quickfacts/fact/table/MS,IN/HCN010217) 17. [Indiana Department of Insurance](https://www.in.gov/idoi/consumer-services/) 18. [Indiana Life and Health Insurance Guaranty Association](http://www.inlifega.org) This is a plain summary of state rules, not legal advice. Your policy and the law control. Call the Indiana Department of Insurance if you have a problem with a company or agent. More for Indiana ## More Indiana guides [Final expense in Indiana](/states/indiana/final-expense)[Mortgage protection in Indiana](/states/indiana/mortgage-protection)[En español](/es/estados/indiana) Other states ## We also work in [**Alabama**AL](/states/alabama)[**Arkansas**AR](/states/arkansas)[**Georgia**GA](/states/georgia)[**Kentucky**KY](/states/kentucky)[**Louisiana**LA](/states/louisiana)[**Michigan**MI](/states/michigan)[**Mississippi**MS](/states/mississippi)[**Missouri**MO](/states/missouri)[**North Carolina**NC](/states/north-carolina)[**Ohio**OH](/states/ohio)[**Pennsylvania**PA](/states/pennsylvania)[**South Carolina**SC](/states/south-carolina)[**Tennessee**TN](/states/tennessee)[**Texas**TX](/states/texas)