Life Insurance

Is your current life insurance coverage sufficient enough to cover everything your loved ones need when you’re not around? Many people believe their current life insurance policy is enough, but sadly this isn’t always the case. As your life situation changes, so should your policy. At California Brokerage Insurance Associates (CBIA), we never want our clients to be in a position where their loved ones’ futures are left to chance. Our insurance brokers are available right now to help you get the best San Diego life insurance coverage. When shopping for life insurance brokerage, California brokers are ready to find you the best life insurance quotes.

Life Changes. So Should Your Life Insurance Policy

If there’s one thing about life that is constant, it’s change. Many people purchase life insurance policies when they are just beginning a family or starting a new job. As the years go on, what was sufficient then isn’t now. If any of the following events have happened in your life, consider a policy “tune-up”:

• New marriage
• Recent divorce
• Birth of new children
• Started a business
• Providing care for a disabled child or elderly parent
• Purchased a new home or land
• Refinance a home within the last six months
• Received an inheritance
• Planning for retirement

Adjusting for these life events makes certain that you have the best life insurance coverage right now.

Life Insurance Terms

The team at California Brokerage Insurance Associates is ready to assist you in selecting the best insurance coverage for your needs.  Here are some common insurance terms you need to know:

• Term Life Insurance

Term life insurance protects for a specific length of time. This is a great place for life insurance newbies to start. The benefits of term life insurance is that it’s less expensive and comes with fixed premiums for varying time periods (i.e., one year terms or 20-year terms). Also, if you decide you need more permanent coverage, term life products may be convertible to permanent coverage.

• Whole Life Insurance

Whole life insurance is permanent life insurance. It stays in effect for the entirety of your life as long as premiums are paid accordingly. Whole life insurance products also build cash value over time.

• Universal Life Insurance

Universal life is a type of lasting life insurance that has flexible premiums, face amounts and unbundled pricing structure. Like whole life insurance, Universal insurance builds cash value. However, it also earns interest at rate guaranteed not to fall below a specific percentage.

The right insurance coverage is different for everyone. To learn more about living benefits and other life insurance terms such as the death benefit, contact CBIA. We have the best life insurance brokers in California to help you choose a product that grows with your needs.

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