--- title: Life Insurance in Louisiana: Quotes and State Rules url: https://coverfolk.com/states/louisiana updated: 2026-10-08 --- # Life insurance in Louisiana Free quotes from licensed Louisiana agents, plus the state rules that protect you, in plain words. [Your rights](#rights) Updated October 8, 202614 sources[Fact checked](/editorial-standards) Louisiana The short answer In Louisiana, 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 Louisiana 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 : [1-800-259-5300](tel:18002595300)Louisiana Department of Insurance 10 days from the day you get the policy (La. R.S. 22:931). 30 days, or one month at the insurer's choice, for premiums after the first (La. R.S. 22:931). * In Louisiana, a life insurer has 60 days after it gets proof of death to settle the claim. If it takes longer without good cause, it owes 8% yearly interest (La. R.S. 22:1811). * If you pay yearly, twice a year or every three months, a Louisiana insurer cannot lapse your policy in the first year after a missed premium unless it first mailed you a notice of the amount due (La. R.S. 22:905). This rule does not cover monthly or weekly premiums. ## Who lives in Louisiana About 4.6 million people live in Louisiana. We help people in New Orleans, Baton Rouge, Lafayette and the towns in between. **67.4%**of homes are lived in by the owner. Median value $216,500. **17.7%**of people are 65 or older **212,834**veterans live here **$60,756**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 Louisiana look for **Mortgage protection** With 67.4% of homes owned and a median value of $216,500, a lot of families want the house covered. [More on mortgage protection](/coverage/mortgage-protection) **Final expense** 17.7% 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** 212,834 veterans live in Louisiana. See what goes beyond VGLI. [More on veterans](/jobs/veterans) ## Common questions in Louisiana What is the free look period for life insurance in Louisiana? Louisiana gives you at least 10 days to review a new individual life policy and return it for a refund. 10 days from the day you get the policy (La. R.S. 22:931). Source: [Louisiana free look law](https://codes.findlaw.com/la/revised-statutes/la-rev-stat-tit-22-sect-931/) What happens if I miss a payment in Louisiana? Louisiana law gives at least a 30 day grace period. 30 days, or one month at the insurer's choice, for premiums after the first (La. R.S. 22:931). Source: [Louisiana grace period law](https://codes.findlaw.com/la/revised-statutes/la-rev-stat-tit-22-sect-931/) What if my life insurance company goes out of business in Louisiana? The Louisiana Life & 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: [Louisiana Life & Health Insurance Guaranty Association](http://www.lalifega.org) · [NOLHGA: how you are protected](https://nolhga.com/policyholders/how-youre-protected/) Who regulates life insurance in Louisiana? The Louisiana Department of Insurance. You can call its consumer help line at 1-800-259-5300 or visit www.ldi.la.gov to check an agent's license or file a complaint. Source: [Louisiana Department of Insurance](https://www.ldi.la.gov) Can I get a life insurance quote online in Louisiana? Yes. Coverfolk works with licensed agents in Louisiana. Answer a few questions, confirm your phone with a text code, and an agent shows you real prices. It is free. Source: [Louisiana Department of Insurance](https://www.ldi.la.gov) ## Sources 1. [Census QuickFacts Louisiana (ACS 2020-2024)](https://www.census.gov/quickfacts/fact/table/LA/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: Louisiana guaranty association law summary (La. R.S. 22:2083)](https://legalseminar.nolhga.com/factsandfigures/main.cfm/location/statedetail/stateID/19) 5. [La. R.S. 22:931 (FindLaw)](https://codes.findlaw.com/la/revised-statutes/la-rev-stat-tit-22-sect-931/) 6. [LDI Life Insurance Guide](https://www.ldi.la.gov/docs/default-source/documents/publicaffairs/consumerpublications/life-insurance-guide.pdf) 7. [La. R.S. 22:1811 (Louisiana Legislature)](https://www.legis.la.gov/legis/Law.aspx?d=508978) 8. [La. R.S. 22:905 (Justia)](https://law.justia.com/codes/louisiana/revised-statutes/title-22/rs-22-905/) 9. [LDI Office of Consumer Services](https://ldi.la.gov/consumers/resources-publications/consumer-services) 10. [Census Reporter: Louisiana profile (ACS 2024 1 year)](https://censusreporter.org/profiles/04000US22-louisiana/) 11. [Visual Capitalist: Median rent by state (Census ACS 2024 1 year, table B25064)](https://www.visualcapitalist.com/mapped-median-rent-by-u-s-state/) 12. [HomeSnacks: US housing statistics (Census ACS 2024 1 year: owner rate, median home value)](https://www.homesnacks.com/us-housing-statistics/) 13. [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/) 14. [Census population estimates, July 1, 2024 (share 65 and over)](https://www.americashealthrankings.org/explore/measures/pct_65plus/LA) 15. [Louisiana Department of Insurance](https://www.ldi.la.gov) 16. [Louisiana Life & Health Insurance Guaranty Association](http://www.lalifega.org) This is a plain summary of state rules, not legal advice. Your policy and the law control. Call the Louisiana Department of Insurance if you have a problem with a company or agent. More for Louisiana ## More Louisiana guides [Final expense in Louisiana](/states/louisiana/final-expense)[Mortgage protection in Louisiana](/states/louisiana/mortgage-protection)[En español](/es/estados/louisiana) Other states ## We also work in [**Alabama**AL](/states/alabama)[**Arkansas**AR](/states/arkansas)[**Georgia**GA](/states/georgia)[**Indiana**IN](/states/indiana)[**Kentucky**KY](/states/kentucky)[**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)