If you live in California and are comparing California Term life insurance quotes, here is what you need to know. I am sure your goal is to receive the best life insurance rates possible. This blog post will show you how to find the best policy for the lowest premium. Searching for the best life insurance rates can be very confusing. This is especially true if this is your first time shopping for a life insurance product. The more insurance related knowledge you have the easier it is.
Use our websites quoting system to compare the best life insurance rates in California, in less than a minute.
After you read this article you should have an excellent understanding on how to shop for life insurance. Just sit back and read on and you will see how simple purchasing life insurance should be. We will go step by step to make everything easy to understand. Just like any other insurance product, you should understand what you are purchasing before you buy it. The more you know, the easier it will be to receive the best online life insurance quotes. With today’s technology, this will be a snap!
There are two main forms of life insurance you should consider applying for. These plan designs are Term and Universal Life
The first concept to remember is there are two main types of life insurance. The most common life insurance is low cost Term life insurance which is based on a specific period of time. The common term periods are as 5, 10, 15, 20, 25 and 30, years. The most common term period is 20 years. Term insurance can be purchased with no medical exam required. The second type is permanent life insurance which is known as Universal Life and Whole life. These plan designs will cover you for the rest of your life.
Low cost term life insurance will always be the plan design with the best life insurance rates.
If your main goal is to find low cost life insurance, then low cost Term life insurance will be the best. Our quoting system will also display best life insurance rates with no medical exam. The no medical exam life insurance plan are getting very popular due to no medical exam needed. Many people apply for affordable Term life insurance due to the lowest premium. They also have the ability to get the highest face amount for the least absolute lowest premium. Whole Life insurance is just about obsolete due to high cost. Whole life insurance has been replaced by Universal life products which are much more cost effective.
The number of new applications has been going through the roof due to lower rates released by the insurance companies.
People have been living longer and the rates are going down because of it. Recently performed statistics have shown that there has been a noticeable increase of California residents applying for life insurance. The newest plan designs that incorporate additional features such as Long Term Care, Return of Premium and Living Benefits. These plans have proven to have more value for the money that the traditional Term plan designs.
This is the most cost effective time to apply for individual life insurance in California.
Some of the larger cities that have had the highest purchase rate were: the capital city Sacramento, Los Angeles. Also San Francisco, San Diego, Oakland, Santa Barbara, San Jose, Beverly Hills, Palm Springs, Santa Monica, Malibu, Pasadena, and Irvine. Also Fresno, Anaheim, Palo Alto, Bakersfield, Monterey, Newport Beach, Santa Rosa and a few others. We have been in a poor economy for over a decade now. Americans have recognized the greater need for life insurance with additional built in benefits while they are alive.
Don’t hesitate to activate our websites quoting system. You can review the most competitive companies in less than a minute.
We utilize over 40 life insurance companies which normally maintain an A+ rating with the A.M Best reporting agency to make sure we can see who has the lowest life insurance rates by means of comparison shopping and is financially stable. All insurance companies review and process applications differently. A comprehensive choice of companies is key to being able to secure the lowest rates. All life insurance quotes can vary quite a bit from one carrier to another.
Serious medical conditions may sometimes create a need for high risk life insurance.
If you have any health conditions, a hazardous occupation or are involved in a dangerous sport, your final rates can be affected also. We always recommend a medical pre-screen you have any serious medical conditions so we are able to use the most appropriate company that will provide you with the lowest premium. Needless to say, nobody wants to pay any more than they have to for life insurance. Independent insurance agents also known as Brokers have access to all the best life insurance companies offered in your state.
Did you know that you can actually save money on your life insurance rates by purchasing a higher face amount?
The life insurance companies for many years have used a concept of rate bands. Please read our very informative rate bands blog post for more information. Each of these bands contain a rate per thousand dollars in life insurance coverage. The philosophy is the more you buy the lower the rate per thousand of coverage. If you are looking for Term life insurance quotes, this information will help you reduce your premiums. Purchasing higher face amounts can be referred to buying life insurance by bulk. Most people never heard of rate bands and how they work.
Using rate bands to your advantage can save you hundreds per year.
Let’s use this as an example; Life insurance with a face amount of $100,000 for example, the rate band will be at its highest point. This will normally hold true for the face amount of up to $249,000 in coverage. A smaller face amount between $100,000 to $249,000 of life insurance per thousand will be the most expensive. This would be the very first rate band category.
Comparison shopping is comparing rates from multiple carriers displayed side by side is crucial when locating the lowest premium.
All good brokers know this is an important step and will automatically comparison shop for you without asking. These are the types of advantages you have working with a life insurance professional. Being able to locate the lowest rates takes experience and knowledge of the market. This is where the independent life insurance Agents also known as Brokers help comes into play.
Hybrid life insurance is an excellent product that has “living benefits” instead of just a death benefit.
As an example, most people have driven their car down the highway and noticed signs in a cornfield. The signs can indicate the product in this field was grown with “Hybrid” corn seed. A hybrid product of any kind usually refers to describing a blend of two or more products into one. This gives it additional benefits and performance. The new policy designs can offer multiple types of benefits, not just a death benefit. Here is a basic list of some of the main benefits that can be incorporated into a conventional Term product.
• Accelerated Death Benefits
• Chronic Illness Benefits
• Critical Illness Benefits
• Long term Care
Are these new Hybrid Term life insurance plan designs worth the extra premium vs. traditional Term insurance?
Let’s take a look at the premiums of a conventional Transamerica Term policy vs. a modern Hybrid version. We will use a 30 year old male non-smoker 20 year Term with a $250,000 face amount.
*Trendsetter Super Term – $197.50
*Trendsetter LB – $212.50
Look at the same scenario but with a $500,000 face amount.
*Trendsetter Super Term – $325.00
*Trendsetter LB – $355.00
With just a minimal increase in premium you can have a life insurance policy and financial protection.
A good example of a Critical Illness event would be a heart attack, stroke, Cancer, Renal Failure, Organ Transplant, ALS, Blindness and Paralysis. You could be eligible for a payout of 75%-90% depending on the severity of your illness. The percentage amount depends on what state you live in. Conventional Term life insurance would have no benefits for these critical illnesses. These new plan designs offer a ton of additional value for minimal cost.
Chronic Illnesses benefits would work the same way for illnesses you have been diagnosed with. For example, illnesses you will be dealing with for years to come such as Emphysema, Diabetes, and Rheumatoid Arthritis.
Would you like to have individual life insurance with excellent benefits while you are alive? You easily can!
I personally witnessed a case of a female in her 30s being diagnosed with Cancer requiring surgery. She had a Trendsetter LB policy with a face amount of $500,000 and received a benefit of $375,000. That check in the mail could help take the sting out of being sick. It could pay for a lot of lost income due to not being able to work while recovering. She recovered from the Cancer and is now in excellent health.
Term life insurance with Living Benefits cost about 12% more.
Term life insurance without the “living benefits” like a conventional term policy will still be a great choice for you. Everyone is different in what kinds of products they like or dislike. If you are interested in purchasing life insurance and you need quotes and information, call us. We can explain all these benefits in detail. You are welcome to use our consumer quoting engine as much as you like. It will display Term and Universal life insurance quotes from the best life insurance companies in your state.
Life insurance for smokers can easily cost double the premium not to mention the health hazards.
With the high cost of life insurance with a smoker’s rate, many applicants will have to sacrifice the face amount. This is because the originally chosen face amount will not be affordable. Many people will apply for life insurance late in life. This is expensive enough without having to add a smoker’s rate to the premiums. If you are looking the best life insurance rates, don’t smoke!
Smoking is just bad for your health and is a very expensive habit to maintain. Term life insurance for smoker’s will require your agent to see what company will offer you the lowest rates. This will also depend on whatever form of tobacco products you use. Some of the life insurance companies will be more smoker friendly than others and this will reflect in their premiums. Check out our life insurance quotes for smokers blog post for more information.
The new simple and quick telephone applications are the modern way to apply for California life insurance.
Telephone applications save a lot of time and allow the applicant to explain their answers over the telephone. Historically most people would dread the chore of completing a lengthy paper life insurance application. Applying for life insurance is now a much more streamlined process. Telephone applications usually take less than 30 minutes to complete.
Calculate your face amount before you apply so you purchase the most applicable death benefit.
Our website incorporates a face amount calculator you can use which will point you in the right direction when considering how much life insurance is really needed for your specific needs, everyone is different. Many times a consumer’s face amount is going to be determined by their health history and age which is going to have a direct impact on their premium. Sometimes people cannot always afford the amount of life insurance they actually need due to cost. This happens quite a bit with high risk life insurance. Do your research carefully, your face amount will be one of the most important aspects of your new life insurance.
Compare your California Term life insurance quotes and apply as soon as possible to obtain the lowest premium.
I would have to say that this is the number one situation that causes people to have to spend more money than they should. They simply waited too long when they could have purchased their life insurance years ago. Their rates would have been much lower and their health was at its very best. I talk to people just about every day that want to buy affordable life insurance.
But they are in their sixties and seventies and are in bad health. At this point in time, the cost factor can become a problem making the life insurance too expensive.
Life insurance quoting rates go up every year as you get older.
These same people had the perfect opportunity when they were financially and physically able but kept putting it off. Whatever you do, don’t make that mistake it can very costly. You could find you are unable to purchase your life insurance because of health conditions. Make sure to complete the quoting form on this page and run our quote engine. You can see the best life insurance quotes from the very best companies doing business in your state.
Purchasing life insurance through an independent agent will get you the best life insurance rates every time.
Independent life insurance agents otherwise known as Brokers have access to all the most competitive companies is the country. They can connect you with the companies that will provide you with the lowest possible premiums. Comparison shopping is the most important concept to use when shopping for the best life insurance quotes.
Feel free to contact us 7 days a week and even on evenings for answers to any questions you may have concerning the best California term lifeinsurance quotes. Our quoting system will allow you to compare all the highest rated life insurance companies displayed side by side. You can effectively see how each companies stacks up next to the others. It is thanks to the quote engines that help drive down the rates. All the companies now have their rates visible on a side by side display showing who has the lowest rates.
Comparing online life insurance quotes and reviewing plan designs is simple when you have a broker assisting you.
Just like anything else you are shopping for, if you don’t do it every day, shopping for life insurance can be a bit frustrating. Many questions such as should I buy Term life insurance, Universal life, or Whole life? What company should I apply with such as, Prudential, Banner Life, Protective Life, American General, Transamerica? What should I choose as my face amount (Death Benefit) $100,000, $250,000, $500,000 or possibly $1,000,000?
These questions always come up when ever anyone is planning of purchasing a new life plan. Especially with the lowest rates they can possibly qualify for. This is where an experienced life insurance specialist comes into the picture. Brokers can make sure all your questions are answered so you can start understanding your life insurance options. You can then make the correct decisions with the very best confidence.
Call our office today and we will help you compare California term life insurance quotes from all the most trusted companies.
You can quickly see who would be the best carrier and plan design for your specific needs and budget. Don’t waste your valuable time surfing from website to website. You won’t be fully understanding the different companies and plan designs. Give us a call and see how simple comparing life insurance products can really be. You can have a professional insurance adviser to help you at absolutely no cost or obligation. We also provide instant life insurance quotes over the telephone.
Take a moment to visit our About Us page to learn more about us and all the highly rated life insurance products we work with. Thank you for taking the time to read this article. I hope in answered many of your questions and made you a much better life insurance shopper.