Are you considering purchasing Life Insurance in Downey, CA? Life insurance can be a complicated topic but it doesn’t need to be overwhelming. Life Insurance 101 will assist you understand the basics of life insurance and the various type of policies out there. Depending on your age and health, the cost of coverage can vary. Generally life insurance policies fall into two categories – cash value policies like whole life insurance, universal life insurance, and flexible premium life insurance; and term life insurance which don’t build up cash value but cover you for a time period such as 5, 10, 20 or 35 years depending on the policy. No matter what kind of policy you obtain, it’s important to make sure your coverage is adequate to protect your family and loved ones in case anything were to happen. Make sure that your policy covers all kinds of deaths and that the amount is suitable for any outstanding mortgages or other debts you may have.

What key terms are universal for life insurance? 

The key terms that are used for life insurance is premium and coverage. Premium is how much are you going to pay a month and can be done monthly, quarterly and yearly. When you do your premium quarterly and above, usually the insurance company will provide you a discount that is lower compared to paying for your life insurance monthly. As far as coverage it means how much is the insurance company going to pay out in the event of your death and it can be $50,0000 to infinity for your coverage. Your coverage is linked to your premium. 

Where can i find a reliable life insurance agent? 

Not all life insurance agents are the same and its important to find an agent that offers investments, insurance, home loans plus other financial products. Main reason is so clients have a full financial plan. You can find a few on google or you can submit a form and a reliable agent/broker will contact you. 


Downey Life Insurance