Terry

Los Angeles, CA

Answer:

Being quoted for a Los Angeles life insurance policy is not a piece of cake. There are many factors that have to be considered by the insurance company to determine whether you are a potential client or a con artist waiting to cash out on your policy. There are also limits on the claims for reimbursement since all claims are subjected to intense inspection by the insurance company.

Your Los Angeles life insurance policy rates will be based mainly on your age. Younger policyholders will be paying less as compared to older ones or those in their early 40s to 50s. Studies have shown that mortality rates are comparable between young professionals and those who have reached middle age.

Gender is also important when getting a Los Angeles life insurance policy. Males are more expensive to insure since the responsibility to provide for the family falls on them and they require higher coverage. Females are usually rated lower due to the fact that data shows most females are either working part time, have less stress and are housewives.

Do you smoke? This is also important when you get a quote for a Los Angeles life insurance. Smokers carry an important difference on their policy than non-smokers. Smokers have shorter life span due to illnesses linked with smoking. There are available tobacco insurance policies that will provide sufficient coverage to smoking policyholders but they come with a price.

Having a clean bill of health and excellent medical records is always checked by the insurance company. Los Angeles life insurance companies will refuse to insure you or will saddle you higher insurance premiums if you are found out to have high blood sugar, hypertension, heart disease or are taking tranquilizers. Your Los Angeles life insurance company will also ask if you and your family which includes parents, siblings and the like have histories of cancer or any ailments deemed risky

Divulging this personal information may not be comfortable for everybody but one has to remember that insurance companies operate to earn also. Either way, if anything happens to you then your family’s welfare is set.

Good day! I’m a senior citizen and living alone since all my children are all independent already. Do I still need life insurance? Thanks!

Steven

Los Angeles, CA

Answer:

Everyone needs a Los Angeles life insurance policy whatever the situation is. And in your case, living alone doesn’t mean you don’t have to have one. While you have done your part as a parent to raise your children so that they would be successful later in life, your job is still not done. You still need a Los Angeles life insurance policy so that your future is assured.

The sad truth is, according to Los Angeles life insurance companies, funeral expenses have gone up a lot these days. It may cost a person or relative a minimum of ten thousand dollars or more just to pay for the funeral expenses. If you don’t have enough savings for your own funeral expense, you are risking your family financial-wise since they would have to pay for all of that once you are gone.

Alright, let’s say you got enough savings for your own funeral expenses. But if you have a big estate or property, paying for the taxes can be quite a hassle for your beneficiaries once you are gone because they’re the ones who are going to pay for it. Most property taxes are high these days and that’s enough reason why you want to consider getting a Los Angeles life insurance. It’s an assurance that people you love won’t suffer financially.

There is a good chance that your beneficiaries will grieve for a while after your death. They can recover easily if they find out that they will receive benefits from your Los Angeles life insurance policy. Get a no exam life insurance policy. This, I think, is the easiest Los Angeles life insurance that you can buy for yourself since all transactions can be made online. Goodluck!

I’m already entering my senior years and I’m interested in investing on a life insurance plan. Should I go with a No-Exam Life insurance policy? I’m not exactly in the best of shape and would rather skip a medical test if I can. Thanks!

Arthur

Los Angeles, CA

Answer:

Your’s is a very interesting question. Before deciding to purchase a No Exam life insurance California policy, you must first understand how this kind of coverage works and how it ties up to your long-term life insurance or financial goals. A No-Exam life insurance is a fairly recent phenomenon, invented out of the need of life insurance companies to maintain their competitiveness in such a cut-throat industry.

The way our parents and grandparents did it, one must first undergo and pass a medical exam before a getting a policy. And while the young and healthy would not have a problem with this, older people tend to get rejected or disqualified more often due to obvious health reasons. That’s why No-Exam policies are so popular, especially to the baby boomer generation, it’s a no frills, almost guaranteed way to get yourself life coverage.

But there is a catch. You would tend to pay more if you decide to go with a No Exam life insurance California policy (and in other states as well). It’s all about the risk; since the company has no idea what state of health you are in, they would categorize you as a high-risk customer by default. And the higher the risk you represent to the life insurance carrier, the more they will compensate with higher premiums.

If you have been rejected for coverage many times already with someone else, or wouldn’t mind paying an extra premium for not having to undergo a medical exam, then a No Exam life insurance policy is your best choice. However, if you are price-conscious and would rather avoid spending too much money unnecessarily, then you may want to reconsider the exam or compare your options for cheaper coverage by using the many life insurance portals available on the Web.

How do you choose a life insurance policy effectively? I’ve started looking for one ever since I lost the policy that came with my employer here in California. Thanks!

Judith,

Los Angeles, CA

Answer:

Good question. Even in these hard times, one should not ignore the benefits and peace of mind provided by a life insurance plan. The biggest challenge for people, especially first-time buyers, is to know how to look for the best insurance policy. I say that before you can recognize the best, you must first understand your needs and find out why you want to get life insurance coverage in the first place.

There are many different kinds of life insurance policies, each designed to suit the needs of different people. A term life insurance plan work’s for someone who only needs coverage for a certain period of time, such as while raising a family or paying a mortgage. Others prefer to build their wealth over the long-term by keeping their money under Whole Life insurance plans. Still, some prefer a Universal Life insurance policy, where a portion of the premiums go to other investment mechanisms for higher yields, while keeping one’s life insured.

Choosing a life insurance policy effectively all comes down to factoring in your future needs, and/or those of your beneficiaries, and is also a matter of personal preference. Price is obviously a big factor when it comes to choosing a plan as well. Leveraging the power of the Internet to help you find the most competitive life insurance quotes California (or wherever you maybe) is crucial to enjoying long-term coverage without breaking your bank.

These days, it would not be difficult at all to find dedicated websites, or life insurance portals, that allows anyone access to the latest rate quotes and offers. Instead of buying through a brokerage or through an agent, it would save you more time and effort to search for life insurance quotes California policies online. And since it’s on the Internet, most of the information you need to decide on the best policy is quickly available.

I’ve been looking to buy my first life insurance policy and I wanted to know, what’s the difference between a Term Life and a Whole Life Insurance plan? Also, how is life insurance different from health insurance?

Cheryl,
Los Angeles, CA

Answer:

First, health and life insurance have two basic differences. A health insurance policy gives you financial support in case of serious injuries, sickness, dismemberment, and even compensate for loss of income, but you still need to be (more or less) alive in order to get the benefits. Life insurance would normally take effect upon the insured individual’s death, and only then can the benefits be awarded to the designated beneficiaries. Life insurance policies fall under two main categories: Term Life and Whole Life coverage.

Term Life Insurance

A type of life insurance policy that is only meant to be kept for a certain number of years (5, 10, 15 yrs.), and is therefore temporary in nature. This kind of coverage is best for those raising a family, paying mortgage or loans, or someone who has a stake to the financial well-being of a business, among others. Term Life policies usually have very affordable and stable rates, however, there are no savings and income-generating features, and rates may become significantly higher should you decide to renew the policy.

Whole Life Insurance

This is a permanent form of life insurance coverage that is meant to be kept for the entire duration of someone’s lifetime. A Whole Life insurance has more features, aside from life coverage, such as: income generation, investment options, and interest earned on the Cash Value of your policy. Premiums usually start off high and eventually gets cheaper and more stable as the years progress. You get coverage while gradually building and preserving your wealth (tax-free until your death) and may even be used as a loan collateral.

The best way to choose which kind of policy suits you better is to understand your specific needs and circumstances at this stage of your life, and basically know why you want/need to have life insurance. If you want a big amount of money waiting for you or your beneficiaries in the future, consider whole life. If you are still young and want to protect your dependents for only certain period of time, term life may be more beneficial.