California Term Life Insurance

California Term Life Insurance, Is It For Me?

California Term Life Insurance is pure insurance. It is a policy that offers a few bells and whistles and will give people the necessary insurance coverage for a specific period of time. Generally, California Term Life Insurance comes in 5-year terms, 5,10, 15, 20, 25, etc.  ConXis Insurance Services expert staff can assist you in finding the right coverage for you and your family. We work with A-rated carriers and can find insurance for almost anyone in almost any health situation.

Often term insurance is a good choice for people in their family-formation years, especially if they’re on a tight budget because it allows them to buy high levels of coverage when the need for protection is often greatest. Term insurance is also a good option for covering needs that will disappear over time

California Term Life Insurance- What Should I Look For?

• Return of Premium – One exception to this rule is what’s called a return-of-premium term policy. With these policies, if you keep the policy in force for the entire term, say 20 years, the insurance company will refund the premium payments you made over that 20-year period. Of course, there is a price to be paid for this added benefit. The premiums for return-of-premium policies are considerably higher than premiums for standard term policies. The price difference can be 20%, 30% or more. Another factor to consider is that term insurance rates have dropped considerably over the past decade, mostly because people are living longer. If you own a standard term policy, there’s really no harm done in dropping that policy in favor of a newer and cheaper term policy. But if you own a return-of-premium policy, dropping the policy before the full term has expired means that you will have paid a high price for your term insurance coverage and the premiums you paid won’t be fully refunded. At best, you’ll get a partial refund of the money you put into your policy to that point.
• Accelerated Death Benefit – Allows a terminally ill person to collect a significant portion of his or her policy’s death benefit while that person is still alive.
• Disability Waiver of Premium– Disability waiver of premium, waives premiums when a policy owner suffers a long-term disability, typically one lasting six months or longer.
• Accidental Death Benefits –  doubles or triples the benefit in the case of death by accidental means.
• Convertibility – This valuable feature allows you to convert your term policy to a permanent policy (e.g., whole life insurance) without submitting evidence of insurability. Being able to convert to a permanent policy is a great option to have in the event that circumstances in your life change such as failing health or maybe just the realization that coverage is needed for a longer period of time than you originally anticipated