Best Life Insurance Companies in Glendale

FAQs

• Can you finish your life insurance application's medical examination via telemedicine in Torrance?

  Yes, you can use telemedicine to complete the medical examination required as part of your Torrance life insurance application. Telemedicine is the use of electronic information and communication technology to deliver and assist medical care when participants are geographically separated. Alternatively, if you are unable or unwilling to travel for the medical examination, your potential life insurance company may send a medical expert to your home upon request.

• What should you do if Torrance life insurance companies reject your application because of mental health problems?

  If your life insurance application in Torrance is declined due to mental illness, you can consider alternatives like guaranteed issue policies, which require fewer health details, or explore insurance providers with more lenient mental health underwriting. Additionally, improving your mental health through support and stability may enhance your future eligibility for coverage.

• Can you get life insurance in Torrance if your family has a history of high cholesterol?

  Yes, you can buy life insurance in Torrance even if you have a family history of high cholesterol. Insurance companies consider your family history, but it is not the only factor they consider when deciding whether to accept or reject your application. In order to determine the terms and availability of a life insurance policy, insurers will consider your personal health, cholesterol levels, and other relevant data.

• What is a chronic condition in the context of Torrance life insurance?

  In the context of insurance in Torrance, a chronic illness is typically defined as a persistent ailment that prevents you from performing at least two of the six essential activities of daily living: eating, using the restroom, maintaining personal hygiene, clothing, walking, and continence. If your life insurance policy includes a chronic disease rider, you must normally be unable to perform two daily activities to activate the rider.

• What elements impact your eligibility for waiver of premium disability rider in Torrance?

  Your age, occupation, hobbies, general health, and current medical conditions all have an impact on your eligibility for Torrance's premium waiver disability rider. These factors may also have an impact on the price you must pay for the rider. Most insurance companies will not provide this rider to anyone over the age of 65, or to anyone under the age of 35 who engages in high-risk occupations or hobbies.

• 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.