Life Insurance in Ohio

Christian Worstell
In this article...
  • Get the facts about Ohio life insurance laws and know your rights as you compare policies. Discover resources that handle complaints and other insurance issues.

Ohio is home to more than 11.7 million people. If you're among the state's residents, buying a life insurance policy can give you peace of mind about your family's financial future.

Ohio life insurance laws afford you certain rights when it comes to policies, and understanding them lets you make a more informed decision about coverage.

Ohio Life Insurance Rules and Specifics

Section 3915.05 of the Ohio Revised Code establishes life insurance laws in the state, and the Ohio Department of Insurance is responsible for enforcing them. Some key points of the law are summarized below.

No Required Free Look Period

Ohio doesn't have a mandatory free look period for life insurance policies. Despite no rule requiring it, many life insurance companies licensed to operate in the state do offer a 10-day free look window during which you can cancel your policy and get a refund of your premium.

One-Month Grace Period

State laws establish a mandatory one-month grace period on premium payments. A company can't cancel your policy unless you fail to pay for longer than a month after the due date. However, it can assess a late fee before then.

Dividend Timing and Payment Method Requirements

Ohio's insurance code mandates that participating insurance companies begin making dividend payments after policies are in effect for 3 years. The insurance company must offer a lump sum payment option.

Laws prohibit companies from requiring you to receive dividends as a credit to a cash account or as an annuity.

Life Insurance Resources in Ohio

The following resources can assist Ohioans with insurance-related issues and concerns.

Ohio Life & Health Insurance Guaranty Association

The Ohio Life & Health Insurance Guaranty Association (OLHIGA) protects consumers if life and health insurance companies licensed to operate in the state become insolvent due to financial problems.

Should this occur, the association will cover death benefit payouts on life insurance policies of up to $300,000.

Insurance Complaint Center

Ohioans who experience problems related to premiums, surrenders, claims, policy loans or other features of life insurance policies can get help from the state Insurance Complaint Center.

Through its website, you can file a complaint or find out how many complaints have been filed against companies.

Ohio Attorney General's Office Consumer Protection Section

If you fell victim to a life insurance scam, the Consumer Protection Section of the Attorney General's Office can assist you.

Complete an online form to request an investigation. The section also publishes bulletins about known insurance scams to educate consumers about potential threats.

Ohio Area Agencies on Aging

At any one of the 12 Area Agencies on Aging, older adults can receive long-term care advising services. This counseling can help older Ohioans decide if it's wise to cash in a life insurance policy or take out a policy loan.

Christian Worstell
About the Author

Christian Worstell is a senior Medicare and health insurance writer with He is also a licensed health insurance agent. Christian is well-known in the insurance industry for the thousands of educational articles he’s written, helping Americans better understand their health insurance and Medicare coverage.

Christian’s work as a Medicare expert has appeared in several top-tier and trade news outlets including Forbes, MarketWatch, WebMD and Yahoo! Finance.

While at HelpAdvisor, Christian has written hundreds of articles that teach Medicare beneficiaries the best practices for navigating Medicare. His articles are read by thousands of older Americans each month. By better understanding their health care coverage, readers may hopefully learn how to limit their out-of-pocket Medicare spending and access quality medical care.

Christian’s passion for his role stems from his desire to make a difference in the senior community. He strongly believes that the more beneficiaries know about their Medicare coverage, the better their overall health and wellness is as a result.

A current resident of Raleigh, Christian is a graduate of Shippensburg University with a bachelor’s degree in journalism. You can find Christian’s most recent articles in our blog.

If you’re a member of the media looking to connect with Christian, please don’t hesitate to email our public relations team at

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