Since 1994
By the Termco teamLicensed life insurance agents since 1994Updated
Montana at a glance
- Insurance regulator: Montana Commissioner of Securities and Insurance
- Free look on new individual life policies: 10 days
- Free look when replacing a policy: 30 days
- State estate tax: no · Inheritance tax: no
Who regulates life insurance in Montana
Life insurance is regulated state by state. In Montana, that's the Montana Commissioner of Securities and Insurance. Before you buy, you can use the regulator's website to confirm that both the insurer and the agent are licensed in Montana, read consumer guides, and file a complaint if something goes wrong. You can also look up an agent's licenses in every state through the NAIC's licensee lookup.
Your free-look period in Montana
In Montana, you have at least 10 days after an individual life insurance policy is delivered to review it and return it for a full refund of premium (Mont. Code § 33-15-415, as summarized by the NAIC).
If your new policy replaces an existing life insurance policy or annuity, Montana gives you a longer review window: 30 days (ARM 6.6.306, as summarized by the NAIC).
Either way, don't cancel an existing policy until the new one is approved, delivered and in force, and the free look has passed.
Taxes
Montana has no state estate tax or inheritance tax as of October 2026, according to the Tax Foundation. Life insurance death benefits paid to a named beneficiary are also generally free of federal income tax.
If an insurer runs into trouble
Montana, like every state, has a life and health insurance guaranty association that protects policyholders, up to limits set by Montana law, if a licensed insurer fails. Limits differ from state to state; you can find Montana's association and its coverage limits through NOLHGA. Insurer failures are rare, and Termco only shows insurers rated A- or better by A.M. Best, but it's good to know the safety net exists.
Does living in Montana change the price?
Less than you might think. Age, health, nicotine, coverage amount, term length and the insurer you choose drive the price; your state mainly affects which products and riders are available. See how term life is priced.
Get term life estimates in Montana
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Frequently asked questions
Who regulates life insurance in Montana?
The Montana Commissioner of Securities and Insurance. It licenses insurers and agents and handles consumer complaints. You can verify any agent's license there before you buy.
How long is the free-look period for life insurance in Montana?
In Montana, you have at least 10 days after an individual life insurance policy is delivered to review it and return it for a full refund of premium (Mont. Code § 33-15-415, as summarized by the NAIC). If your new policy replaces an existing life insurance policy or annuity, Montana gives you a longer review window: 30 days (ARM 6.6.306, as summarized by the NAIC).
Does Montana have an estate or inheritance tax?
No. As of October 2026, Montana has neither, according to the Tax Foundation. The federal estate tax can still apply to very large estates.
Can I buy term life insurance in Montana through Termco?
Yes. Termco offers coverage nationwide. Any policy for a resident of Montana is sold by a Termco agent licensed in Montana, and only insurers rated A- or better by A.M. Best appear in our quote tool.
Nearby states
Idaho · Wyoming · South Dakota · North Dakota · All states
Sources
- Montana Commissioner of Securities and Insurance
- NAIC – Life Insurance Disclosure Provisions (state law chart, PDF)
- Tax Foundation – Estate and Inheritance Taxes by State, 2026
- NOLHGA – Contact your state's guaranty association
This page is general information, not legal or tax advice. State laws change; the free-look figures above come from the NAIC's summary of state law (state information last reviewed December 2023), and your policy is the final word on its own terms. Checked October 17, 2026.