Speak with an experienced advisor!
541-400-9040
California term life insurance is pretty easy to understand. Once you break through all the agent speak you will find that of all the different types of life insurance, term life insurance is the easiest to understand.
Life insurance is one of the most fundamental investments that you will ever make for your loved ones. It’s one of the only ways that can ensure that your family has the money that they need, regardless of what happens to you. This article is going to explore the different options that you have for insurance protection and ways that you can secure lower premiums.
Many times when you are shopping for term life insurance you will hear an agent talk about the face value of the policy. This bit of terminology simply refers to the amount that the policy will pay out in the event that the person being insured were to pass away. So if you purchase a $500,000 policy the face value is $500,000. When in doubt, the face value of a California term life insurance policy is the BIG number.
While it is pretty easy to spot the term in a term life insurance policy most people do not understand exactly what the term means. To use an example we will use a twenty year term policy. Not only does this mean that the policy will terminate at the end of twenty years, it also means that the rate of the premium will not change over the same period of 20 years. So if your 20 year term policy has a premium of $600 per year then that premium will not change until the twenty years are up.
As with any insurance policy, California term life insurance is paid for in premiums. A premium can be paid monthly, quarterly, semi-annually, annually, or even all at once. Most people choose the semi-annual or annual option. Other than paying for the entire policy from the beginning, which can be very expensive, the annual option is the least expensive; followed by the semi-annual. If the thought of paying for an entire year of premiums does not work for your budget you can always choose a more frequent option, which is why many people also choose the monthly premium. It will cost you a bit more but term life insurance is so cheap that it should not be a large difference.
The other option for insurance protection is to purchase a whole life insurance plan. These are permanent forms of coverage, which means that they will never expire. Regardless of how long you hold your plan, you will never have to reapply for life insurance. These policies are great for anyone that doesn’t want to worry about losing insurance protection in the future. That permanent coverage is going to come at a much higher cost.
One of the most common reasons that people don’t have life insurance is because they assume that it’s too expensive to fit in their budget, but in most cases, that couldn’t be further from the truth. There are several ways that you can lower your insurance premiums and keep more money in your pocket. A few simple changes could save you thousands of dollars on your yearly rates.
The first thing that you should do is cut out any tobacco that you currently use. If you’re listed as a smoker when you apply for protection, then you should expect to get drastically higher premiums. In fact, smokers are going to pay at least twice as much for their insurance protection. If you want to save money, it’s time to cut those bad habits once and for all.
Another way to save money is to improve your health. Before you’re approved for coverage, the company is going to require that you take a medical exam, unless you have chosen to purchase a no medical exam life insurance policy, which will come with a higher premium. The result of the medical exam is going to determine how much you pay every month. The better your results, the less that you’re going to pay. The two best ways that you can get better results are to make healthy food options and start getting regular exercise. Both of these are going to help you lose weight, lower your blood pressure, lower your cholesterol, and reduce your risks of being diagnosed with severe health complications. All of these are going to translate into better insurance rates.
A nice feature of term life insurance is its simplicity. In fact term life insurance is the same no matter which state you live in. So if you are looking at California term life insurance, Texas term life insurance, or Florida term life insurance you will be looking at information that is identical. With any term life insurance inquiry you will need to get a set of term life insurance quotes. You can do that by filling out the form on the side of this page. If you have any question or if there is any way we at TermLife360.com can serve you please let us know.
We are a group of independent insurance agents, which means we work with dozens and dozens of highly rated companies across the nation. We can bring all of the best insurance plans directly to you. It’s our mission to ensure that you’ve gotten the best insurance protection for your family.
You never know what life is going to bring tomorrow, which means that you shouldn’t wait any longer to get the insurance plan in place. If something tragic were to happen to you, and you didn’t have insurance protection, If something were to happen to you, and you didn’t have life insurance, your family would be stuck with a giant hole of debt, and that’s going to make the situation a thousand times worse.