Life insurance by state · ME
Life insurance in Maine
What Maine law gives you, which carriers quote in Maine, and how to get covered — from an independent agency licensed in Maine.
The short answer
Maine residents can choose from 10 final expense and 15 term life carriers we work with that quote in Maine. New policies typically come with a 10-day free look, and the state guaranty association backs life insurance death benefits up to $300,000.
Your protections in Maine
| Regulator | Maine Bureau of Insurance |
|---|---|
| Free-look period | Typically at least 10 days · 30 days for replacement policies (02-031 C.M.R. ch. 919, § 5(A)(4)) |
| Guaranty association | Maine Life & Health Insurance Guaranty Association: up to $300,000 death benefit, $100,000 cash value (overall per-person cap applies) |
| Community property state | No |
| State estate / inheritance tax | Estate tax: yes · Inheritance tax: no — Maine's estate tax starts from the federal gross estate (36 M.R.S. § 4102), so life insurance counts only when it is in the federal gross estate (generally when the deceased owned the policy or it was payable to the estate). The 2026 exclusion amount is $7,160,000. |
Good to know in Maine
- Under 24-A M.R.S. § 2436 (read with § 2513), an undisputed individual life insurance death claim not paid within 2 months after the insurer receives proof of death becomes overdue and bears interest at 1.5% per month. Source
- Under 32 M.R.S. § 1401, money prepaid in Maine for a prearranged funeral or burial plan must be deposited within 10 days of receipt into a separate account held by the payee as mortuary trustee, and violating the section is a Class E crime. Source
Carriers we work with that quote in Maine
Final expense / burial: Aetna · American Amicable · Americo · Fidelity · Foresters · Mutual of Omaha · NewBridge · Royal Neighbors · Transamerica · UHL
Term life: American Amicable · Americo · Catholic Financial · Foresters · InstaBrain · John Hancock · Kansas City Life · Mutual of Omaha · National Life Group · Primerica · Protective · Royal Neighbors · SBLI · Transamerica · UHL
From our quoting system’s Maine results (September 2026). Product availability and rules vary by carrier and change over time.
How to get covered in Maine
- Figure out how much you need — final expense calculator or mortgage protection calculator.
- See typical prices by age — life insurance cost by age.
- Tell us your health history — we match you to the Maine carrier most likely to approve you at the best price (condition guides).
- Apply by phone with an e-signature — many decisions are instant or same-day.
Licensed in Maine. Compare dozens of carriers in one free call — no pressure.
Get my quotes → Call 586-343-1505Sources: Regulator · Guaranty association · Free-look rule · Estate/inheritance tax
Straight answers
Life insurance in Maine — FAQ
How long is the free-look period for life insurance in Maine?
New individual life insurance policies sold in Maine typically give you at least 10 days to review the policy and cancel for a full refund (30 days for replacement policies (02-031 C.M.R. ch. 919, § 5(A)(4))). The exact window is printed on your policy’s first page.
What happens to my life insurance if the company fails in Maine?
The Maine Life & Health Insurance Guaranty Association protects Maine residents up to $300,000 in life insurance death benefits and $100,000 in cash value, subject to an overall per-person cap. It’s a backstop — choosing a financially strong carrier still matters.
Who regulates life insurance in Maine?
The Maine Bureau of Insurance. You can verify an agent’s license or file a complaint with them.
Can I buy life insurance in Maine by phone?
Yes. United Eagles Financial is licensed for life insurance in Maine; most applications are done by phone or video with an electronic signature.