Life Insurance in California

Life insurance is one of those types of insurance that everyone should consider at some point. It is the protection of your beloved ones and a guarantee of their financial security if you pass away. Every state has its own rules and regulations regarding life insurance. If you live in California and are thinking about purchasing a life insurance policy in the Golden State, Alta Vista Insurance Agency, serving Vista, CA, is happy to share specific things you should be aware of before purchasing. By knowing about rules and regulations in this state, you will be able to make an informed decision when it comes to buying a policy.

  • Life insurance in the Golden State is regulated by the Insurance Code and California Department of Insurance. They control insurance companies and make sure that customers are protected.
  • All consumers who bought a life insurance policy have a 10-day free look period, during which they can cancel their insurance and receive a full refund.
  • If you miss a payment, you have a 30-day payment grace period to pay without being penalized.
  • In addition to a 30-day grace period, all insurance companies must pay claims within 30 days after receiving proof of death.
  • There are two types of life insurance available: term life insurance (coverage provided for a certain amount of time only) and permanent life insurance (allows to accumulate cash value over time). Term life insurance is cheaper and, therefore, more affordable.

Since it is not very pleasant to think about death, life insurance is something that many people do not want to consider. However, it is an excellent investment in the future of your family and loved ones. Alta Vista Insurance Agency, serving Vista, CA, and other surrounding towns, is ready to answer all your questions regarding this specific type of coverage and help you find a plan based on your needs and budget. Do not hesitate to call us today to speak with one of our experienced insurance agents.