SACRAMENTO, Calif., Nov. 15 -- The California Department of Insurance issued the following news release:
California employers and their employees and other consumers will soon have more options when it comes to meeting health needs and securing their and their families' financial future. Insurance Commissioner Dave Jones announced today he has approved new insurance products by LifeMap Assurance Company for sale in California, including life, disability, dental, accident, and critical illness coverage options.
"More competition and choice in the insurance marketplace is good news for consumers," said Commissioner Jones. "I welcome LifeMap Assurance Company to the California insurance market."
Beginning January 2, 2017, LifeMap will offer California consumers group term life insurance, group dental insurance, group disability income insurance, and group accidental injury through their employer to provide financial peace of mind. LifeMap will also sell critical illness insurance in California.
"LifeMap is anchored in the Pacific Northwest and we're excited to expand our western footprint by entering California's vibrant market," shared LifeMap Senior VP of Business Development David Taaffe. "We're now in eight markets with California being one of the most diverse in the country. I want to send our thanks to the Department of Insurance and its staff for their sound advice and guidance to make this opportunity come to life. We look forward to serving Californians now and long into the future."
Consumers shopping for insurance can visit the department's website for a number of resources to help them price and compare insurance products and estimated premiums.
To learn more about LifeMap and its insurance products visit: https://www.lifemapco.com.
A specified disease policy will pay the policyholder a lump sum when they have one of the diseases covered in the policy.
The California Department of Insurance, established in 1868, is the largest consumer protection agency in California. Insurers collect $288 billion in premiums annually in California. In 2015 the California Department of Insurance received more than 155,000 calls from consumers and helped recover over $84 million in claims and premiums. Please visit the Department of Insurance web site at www.insurance.ca.gov. Non-media inquiries should be directed to the Consumer Hotline at 800.927.HELP or 213.897.8921. Telecommunications Devices for the Deaf (TDD), please dial 800.482.4833.