Life insurance by state · MN
Life insurance in Minnesota
What Minnesota law gives you, which carriers quote in Minnesota, and how to get covered — from an independent agency licensed in Minnesota.
The short answer
Minnesota residents can choose from 11 final expense and 15 term life carriers we work with that quote in Minnesota. New policies typically come with a 10-day free look, and the state guaranty association backs life insurance death benefits up to $500,000.
Your protections in Minnesota
| Regulator | Minnesota Department of Commerce |
|---|---|
| Free-look period | Typically at least 10 days · 30 days for replacement policies (Minn. Stat. § 72A.52, subd. 1(2); § 61A.57(d)) |
| Guaranty association | Minnesota Life & Health Insurance Guaranty Association: up to $500,000 death benefit, $130,000 cash value (overall per-person cap applies) |
| Community property state | No |
| State estate / inheritance tax | Estate tax: yes · Inheritance tax: no — Minnesota's estate tax applies above a $3,000,000 exclusion (deaths 2020-present) and is computed from the federal gross estate (Minn. Stat. § 291.005), 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). |
Good to know in Minnesota
- Under Minn. Stat. § 61A.031, a Minnesota life policy's suicide exclusion can last no more than one year from issue, and if a death benefit is denied under it the insurer must refund all premiums paid for that coverage. Source
- Under Minn. Stat. § 149A.97, all money paid to a Minnesota funeral provider for preneed funeral or burial goods and services must be held in trust, and that trust is fully revocable unless the purchaser chooses to limit it. Source
Carriers we work with that quote in Minnesota
Final expense / burial: Aetna · American Amicable · American Home Life · 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 Minnesota results (September 2026). Product availability and rules vary by carrier and change over time.
How to get covered in Minnesota
- 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 Minnesota 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 Minnesota. 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 Minnesota — FAQ
How long is the free-look period for life insurance in Minnesota?
New individual life insurance policies sold in Minnesota typically give you at least 10 days to review the policy and cancel for a full refund (30 days for replacement policies (Minn. Stat. § 72A.52, subd. 1(2); § 61A.57(d))). The exact window is printed on your policy’s first page.
What happens to my life insurance if the company fails in Minnesota?
The Minnesota Life & Health Insurance Guaranty Association protects Minnesota residents up to $500,000 in life insurance death benefits and $130,000 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 Minnesota?
The Minnesota Department of Commerce. You can verify an agent’s license or file a complaint with them.
Can I buy life insurance in Minnesota by phone?
Yes. United Eagles Financial is licensed for life insurance in Minnesota; most applications are done by phone or video with an electronic signature.