Life Insurance Agent Orange County
When shopping for California Life Insurance there are many products and carriers’ to choose from. From basic Term Life insurance to comprehensive Whole Life policies the benefits, prices and duration of these policies greatly vary and are purchased by individuals for specific reasons and needs.
The most basic, inexpensive and popular form of life insurance is called Term Life Insurance. This basic policy is designed to stay in place for the life or term of the policy. If the insured passes away during the term of the policy the beneficiary (s) receive the face amount of the policy. The price of the plan is “locked” in for the term of the policy. Policies typically range from 10 to 30 years.
There is another popular trend, also a term life product, called Return of Premium (ROP). With this policy if the insured does not pass away, during the term of the policy, 100% of their premiums are refunded. All life insurance payouts and/or return of premium are tax-free.
Universal Life Insurance
This policy will typically stay with the insured until he/she passes. I like to refer to these policies as “permanent policies”. In it’s simplest form, you will keep this plan until you pass and the policy will pay out to your beneficiary’s.
Protecting your family’s financial future with life insurance.
Should I purchase Term, ROP (Term) or Universal Life?
This is a very common question. Certainly, Term Life Insurance offers and death benefit and is the least expensive tool to provide life insurance for one’s dependents. However, if you have a slightly higher budget and are betting that you will outlive the term period of the policy you may want to consider Return of Premium (ROP). It will be a nice check to receive from carrier in 15, 20 or 30 years. If you want to guarantee that you will leave behind a death benefit then Universal Life and/or Whole Life should be considered.
Do I pay a different price from an agent or broker and should I shop around for the best rates?
We have a wholesale relationship from the carriers and do NOT charge additional fees or commissions for our services or the policies. The carriers pay us if we bring them business.
How does smoking affect my life insurance premiums?
It’s a fact and proven, that smokers receive higher rates for insurance, simply because they are at a higher risk and expected to have a shorter life span. A person that has quit smoking needs to be tobacco free for 3-5 years before they can get a non-tobacco rate. Additionally, there is a blood profile/screen which specifically tests for tobacco usage. Typical rates for smokers are 3x that of non-tobacco applicants.
What other health pre-existing conditions are considered?
All health factors are considered. To be approved for life insurance a paramedic will come to your home or business, take your blood and urine and measure your vital signs. High blood pressure, cholesterol, alcohol usage, elevated weight, medications and even your motor vehicle records are just a few considerations to access your life expectancy and risk-which determine your price.
Life Insurance Classes and Ratings
When life insurance first started there were (2) classes: smokers and non-smokers. Today, with expanded competition and people taking better control of their health there are at least 4 non-tobacco classes tobacco classes.