Best Life Insurance Companies in Orange

FAQs

• Does Orange whole life insurance cost more than term life insurance?

  Yes, whole life insurance in Orange is significantly more expensive than term insurance. The duration of coverage for both whole life insurance and term life insurance varies. Term life insurance is only valid for a set period of time before expiring, whereas whole life insurance is valid for a lifetime. Another distinction is that term life does not have its own cash value account, whereas whole life does.

• What details must you include on your life insurance application in Orange if you have sleep apnea?

  If you have sleep apnea and are looking for life insurance in Orange, you'll need to provide information about your diagnosis, treatment plan, medications, and any other medical issues you may have. In addition, the life insurance company may require you to undergo a medical examination.

• Will the death benefit payout of your Orange life insurance policy going to be lessened by your insurance provider if you commit suicide?

  No, if you committed suicide, your life insurance policy in Orange would still pay out the full death benefit. If the suicide occurs after the waiting period and meets the policy's requirements, your insurance will pay the entire death benefit amount. However, if you died during the policy's specified waiting period, your life insurance claim will be denied.

• What is the procedure for initiating an Orange waiver of premium claim?

  To begin a waiver of premium claim in Orange, you must first file a claim with your life insurance company and provide the necessary information. You should ask your doctor for a written statement outlining your situation. You may also receive a letter from the Social Security Administration as proof that you are unable to work due to a disability.

• What is covered by the accidental death and dismemberment insurance in Orange?

  In the event that you lose a body part or die in an accident, Orange accidental death and dismemberment insurance will pay a portion or all of your death benefit. AD&D covers a variety of types of accidental death and dismemberment, including those caused by murder, fire, lightning, being crushed under heavy items, fatalities on public transportation, and automobile accidents.

• 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.