More Life Insurance Options Available from California Insurance Companies
Permanent life
insurance
This insurance policy is available from our California insurance professionals, and will not expire* as long as your premiums are paid
on time. As long as premiums are being paid, it stays with you permanently throughout
your lifetime*.
Permanent life insurance premiums, which can be obtained from any California insurance agency or company, are usually invested to produce returns.
This return or cash value is usually accumulated at a set interest rate
and is available to use for any of life's expenses or emergencies. The
cash value will grow tax-deferred, which is subsidized by the federal government. The
government is trying to encourage responsible financial behavior, such
as buying life insurance, so they try to reward those who do by enhancing long-term benefits.
Different types of permanent policies
Whole
life insurance is the simplest of the permanent life insurance
policies. You'll pay the same premium all of your life. The sooner (younger)
you start the policy, the cheaper these premiums will be. The cash value will accumulate
at a set rate as long as your policy is in force. You may also borrow against
the cash value. These policies are available from our California insurance professionals-- apply today!
Universal life insurance provides a little
more flexibility than whole life. With this policy, your premiums will
start off low but may increase with time. It will most likely NOT stay
constant. You may be able to make larger payments in one year and skip
payments another year-- certain conditions apply. You also have the flexibility
to increase or decrease the value of your policy's death benefit. This
may be beneficial for anyone planning life changing events, such as having children
or selling your home. See what kind of premium you can get by applying for a free quote from one of our California insurance professionals!
Variable
life insurance takes whole life and adds an investment opportunity component.
You pay a set premium, and then you have the option of investing your premiums
in one or more investment sub-accounts. Your cash value is not guaranteed
as it is with whole life. Instead, it will vary based on the performance
of your investment returns.
Variable universal life insurance combines some features
of variable and universal policies to create a flexible life insurance
policy. As with universal life policies, you have a set premium, but you
can adjust how much and when your premiums paid into your policy. This
way you can adjust the death benefit to meet your changing needs. Again,
your cash value growth will increase or decrease depending on the performance
of your investment returns.
*Usually this type policy ends on your 95th or 100th birthday, but not
before.
Annuities
Annuities are an excellent method for funding non-qualified or qualified
IRAs. Programs include single premium deferred annuity and single premium
immediate annuity plans for the direct market. Flexible annuity plans are available
to both the direct and payroll markets.
Fixed annuities
Consider a fixed annuity if you're considering retirement or
are retired. This is a low-risk opportunity for an investor. You get a fixed
return on your money (hence the name). Features include single and flexible premium products,
guaranteed interest rates, and tiered and indexed rates.
Group voluntary
term life
This option provides valuable coverage at affordable group rates with optional accidental death
and dismemberment coverage.
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