Best Life Insurance Companies in Chula Vista

FAQs

• When do you need to use your Chula Vista accelerated life insurance benefits?

  In Chula Vista, you should use your accelerated life insurance benefits if you:

  • Are relocating permanently to a nursing facility.
  • Require long-term in-home care.
  • Are dealing with a terminal illness.
  • Have a medical condition that will progress to a life-threatening situation if left untreated.
  • Suffer from a wound that necessitates extreme care, like an organ transplant or ongoing life support.

• Can you still acquire life insurance in Chula Vista even if you are overweight?

  Yes, you may still buy life insurance in Chula Vista even if you are overweight. Being overweight will not automatically prevent you from acquiring life insurance, but it could influence your premiums and the type of coverage you qualify for. Keep in mind that one of the criteria life insurers use to assess your risk and eligibility is weight.

• What is involved in a Chula Vista life insurance medical exam?

  A certified paramedical expert will do a fundamental examination during your life insurance exam in Chula Vista. It will involve asking you questions about your medical status and obtaining your blood, urine, and EKG readings, as well as measuring your height, weight, and blood pressure. These examinations reveal serious health issues that could have an impact on your well-being, longevity, and insurance eligibility.

• If you have debt, should you think about switching your term life insurance policy in Chula Vista to whole life insurance?

  Yes. Remember that if you pass away suddenly, it may be difficult for your family to fulfill your debt responsibilities. Changing your term life insurance policy in Chula Vista to whole life insurance would allow your loved ones to use the death benefit to settle your debt after your passing.

• Can you name a funeral home as one of your life insurance beneficiaries in Chula Vista?

  No. You are not permitted to name a funeral home as a beneficiary of your life insurance policy in Chula Vista. If you intended your life insurance provider to pay your funeral home a specific sum after your passing, you should fill out the funeral home assignment papers provided by your insurer.

• Which is better, term or whole life insurance?

  Life insurance is a personal financial tool, so the right type of insurance for you depends on your goals and current situation. One of the main differences between term life insurance and whole life insurance is that term life insurance only covers you for a set period of time. Once you meet the premium payment requirements on a whole life plan, it covers you for the rest of your life. Whole life insurance also builds cash value, making it a potential investment. But whole life insurance is typically much more expensive than term life insurance.

• How much life insurance do I need?

  A common recommendation is purchasing life insurance that is equal to five times your current salary, or more. But you can also estimate how much life insurance you need by adding up your debts, annual expenses for dependents multiplied by the years you want to ensure support, and any other items you wish to cover, such as a future wedding or college tuition.

• How does life insurance work?

  The details of how life insurance works depend on your individual plan, but the basics are as follows: 

  • You pay a premium to purchase the insurance. Typically the premium is paid monthly, but it could be rolled into quarterly, bi-annual, or annual payments. 
  • As long as you are meeting or have met premium obligations, if you pass away, the insurance company makes the agreed-upon payment to the beneficiaries you designated. 
  • Beneficiaries usually have to provide the insurance company with a death certificate to receive their payments.

• How much is life insurance?

  The cost of life insurance ranges widely. Term life insurance can cost as little as a few dollars a day, and whole life insurance can cost thousands per month on the high end. Factors that impact the cost of your life insurance include whether you're choosing term life insurance or whole life insurance, your age, how much coverage you want, your overall health, and your gender.

• Is life insurance taxable?

  Life insurance proceeds are the funds paid via your plan to your beneficiaries if you pass away. These are also called death benefits. Typically, these are not considered income for taxes. If you take out cash value from a whole life insurance investment and the amount exceeds how much you paid in premiums, the difference may be considered taxable income.

  
  

• Can I buy health insurance that is not Obamacare?

  When people say "Obamacare insurance," they typically mean insurance within the health insurance marketplace. You can get health insurance outside of the marketplace by going through your employer, choosing COBRA coverage if you leave your job, or buying a short-term health insurance policy through an insurance agent. ACA-compliant plans meet all the benefits and coverage requirements of the Affordable Care Act. But you may be able to find supplemental or short-term coverage that simply provides peace of mind for major medical expenses.

• Can I buy health insurance anytime?

  To buy health insurance in the marketplace, you must purchase it within open or special enrollment periods. But you can purchase short-term coverage to bridge the gap between now and the next open enrollment period. These plans are meant to be used for less than a year. You can purchase them online or via insurance agents, but they may not be ACA-compliant.

• Who should buy supplemental health insurance?

  Supplemental health insurance is a product that helps cover the cost of services that your primary health insurance policy doesn't. One popular option is secondary insurance that helps cover some of the costs associated with high deductibles. Medicare supplemental insurance is also popular. Medicare doesn't cover everything, and older adults on a limited income can face large prescription or medical bills after Medicare pays. Supplemental insurance helps reduce those patient costs.