Life Insurance in California
Getting life insurance in Bellflower, Van Nuys, or Southgate, CA is an essential decision for you and your family.
How Much Life Insurance Should You Have in California?
The amount of life insurance you purchase will depend on several factors and can vary based on your responsibilities and age. The amount of insurance you need should depend on the standard of living you want your family to have after you are gone. Things you can consider include sources of income and the number of assets you will pass down to your dependents. Being over insured can also negatively impact your long-range goals, just the same as being underinsured.
Finding the Right Type of Life Insurance in California
There are different types of life insurance to choose from once you determine how much life insurance you need for your beneficiaries. An agent at ANA Insurance Brokerage Inc. can help determine what type of policy is right for your financial goals and needs. Term life policies will give you life insurance for a specified period. The period could be just one year or up to 20 years. If you die during your term, you get the policy's value paid to your beneficiary. If you live beyond the term, then the benefit isn't payable. There is no cash value or savings element with these policies. Some policies can be converted to cash value insurance with a higher premium. Cash value insurance combines both death benefits with a cash value accumulation. While premiums can be higher, the policy can be surrendered with a cash value option before you die. Whole life insurance is designed to give you coverage for your entire lifetime, unlike term policies. Universal life insurance is a more flexible type of policy since it treats each element separately. The policy can be structured to operate like term insurance, but there is also a cash value element.
Contact ANA Insurance Brokerage Inc. to get a quote on life insurance in the Bellflower, Van Nuys, or Southgate, CA areas.