Life Insurance in California

You may not be able to prevent your loved ones from being sorrowful, devastated, and lonely when you are gone, but you can make sure they don't face any financial constraints by taking out a life insurance policy. Life insurance takes care of the policy holder's debts and funeral expenses or any pending medical bills at the time of their demise. The beneficiary of the policy can use it for any financial needs, including paying for college funds, starting a business, paying the mortgage, and taking care of the daily expenses.

It's not mandatory to have life insurance in California; even so, the state regulates this insurance industry. Under the state insurance code of California, you are allowed a free look, which means that for the first 10 days, you can change your mind about taking the coverage and receive full refunds without any penalties. You also get a 30 days grace period for paying your premiums without immediate cancellation of your coverage. The insurance companies are also required to pay claims within 30 days after they receive proof of death.

Some of the coverage options offered by Commercial One Insurance Services Inc in Burlingame, CA include:

• Term Life Insurance: It gives you coverage for a specific time frame by paying a specific lump sum to your loved ones. It's a good option if you have temporary needs or have fewer funds. It's generally cheaper than the permanent option.
• Permanent Life Insurance: It offers lifelong protection and it can also accumulate a certain cash value on the basis of tax-deferred. It's a better option for those seeking long-term needs like college funds for your children, end-of-life expenses for your family, future mortgage payments, or even an inheritance for your children. It includes whole life insurance that guarantees your premiums to never change and universal life insurance that allows for flexible premiums to fit your budget constraints.

Talk to an agent at Commercial One Insurance Services Inc to determine which option will work for you. We offer affordable insurance policies in Burlingame, CA and surrounding areas. Contact us today to get a quote.