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Utah Insurance

Frequently Asked Questions

DISCLAIMER: Any response provided here is based upon the information that you provided, which may be limited. Our response, therefore, may not apply in all cases.

How do I locate an insurance company?

The department’s website provides a feature for searching for an insurance company or a producer (agent). If the company is not found, call the Life Insurance Section at 801-538-3066 or toll-free 800-439-3805 for an extended search.

Are life insurance benefits guaranteed by any government agency?

No, however, companies licensed to sell life insurance, health insurance, and annuities in Utah are required by law to be a member of the Utah Life and Health Insurance Guaranty Association (ULHIGA). If a company licensed in Utah becomes insolvent and is unable to pay claims, the law requires ULHIGA to pay some of the claims. The benefits are for residents of Utah; if you move to another state, you may be eligible for benefits from that state’s guaranty association. The caps are $200,000 for net cash surrender value, $500,000 for death benefits, and $250,000 for annuities. See the Notice that is required to accompany an insurance policy for specific details.

Does the department rate insurance companies?

The department does not rate insurance companies. There are private companies that do provide ratings and they can be accessed on the internet. The rating companies known to the department are A.M.Best Company, Fitch Ratings, Moody’s Investors Service, and Standard & Poors.

How do I file a complaint?

The Life Insurance Section can assist you with a complaint about your life insurance company, agency, or life insurance producer (agent). A complaint form is available on our website or you can call us at 801-538-3066 or toll-free 800-439-3805 to receive a complaint form by mail.

How do I file a complaint about a viatical settlement I invested in?

The proper agency for investors to contact is the Utah Securities Division at 801 530-6600 or http://securities.utah.gov/investors/complaints.html.

Do you have a record of all the policies that were issued?

The department regulates the business of insurance in Utah. We do not have records for individual policies and there is no national registry for life insurance policies. If you believe a person was insured but are unable to locate the policy, we suggest that you:

  • search bank and credit card records for at least the previous year for premium payments to any insurance company.
  • contact current and previous employers to see if life insurance was provided.
  • contact union or association if a member.
  • ask family and friends if the name of an insurance company was ever mentioned.
  • contact the insurance company that provided auto and homeowner’s insurance in case life insurance was also purchased.
  • as a last resort, consider using a search company. An internet search on “lost life insurance” will provide companies that will contact insurance companies for you. Be sure to ask what service is offered and the cost.

Where can I find the insurance laws?

Access to the Utah insurance laws and administrative rules is available on our Legal Resources page.

Can you force an insurance company to pay a claim?

The department has no authority to make an insurance company pay a claim. The department does, however, require insurance companies to follow claim practices set forth in Utah Administrative Code Rule R590-191. Generally, an insurance company must act within 15 days of receipt of the claim. If additional information is needed by the insurance company to evaluate the claim, the insurance company must inform the claimant of the investigation and must keep the claimant informed every 30 days. If claim payment is delayed more than 60 days, please contact the Life Insurance Section for assistance.

What do I do if I applied for a policy and changed my mind?

Utah Code Annotated 31A-22-423 requires that each life insurance policy may be returned to the insurance company within 10 days of delivery to you and a full refund of premium paid is required. The period is extended to 30 days if the policy replaced another life insurance policy. The exact instructions will be on the front of the policy.

Does divorce change the beneficiary of a life insurance policy?

A spouse that is designated as a revocable beneficiary designation will be revoked automatically at divorce. Please review Utah Code Annotated Section 75-2-804.

I purchased a life insurance policy while living in another state. Can you help me?

Because the insurance laws vary from state to state, you should call the insurance department in the state where you were living when you bought the policy. Contact information for each state can be accessed through the National Association of Insurance Commissioners at http://naic.org/state_web_map.htm. If you do not have access to the Internet, call us at 801 538-3066.

Can someone explain my policy to me?

We would be happy to review your policy with you but have you called the insurance company or agent? The insurance company will know the features of your policy better than we and will be able to provide specific current details about your policy. If you would still like us to review the policy, please call 801-538-3066 or toll-free at 800-439-3805 to arrange a convenient time for an appointment.

Is my insurance policy protected from creditors?

The department is not able to answer this type of question for you; however, you may want to review Utah Code Annotated Section 78B-5-505 or consult a legal professional.

Can you answer a question about my life insurance agent’s license?

The Producer Licensing Division at 801-538-3855 answers all producer licensing questions.

Can you answer a question about a life insurance company license?

The Examination Division at 801-538-3671 answers all insurance company licensing and renewal questions.

What is the premium tax rate?

Please contact Tyler McIntosh of the Utah Tax Commission at 801-297-7705 for the rate or any other questions about premium taxes.

I received a notice that my insurance company has been liquidated. Can you answer a question?

If the company was domiciled in Utah, please call the Liquidation Office at 801-799-7401. If the company was domiciled in another state, that state insurance department will have the information for you. To locate contact information for other state insurance departments, go to http://naic.org/state_web_map.htm.