Best Life Insurance Companies in Pleasanton

FAQs

• What are the common types of life insurance in Pleasanton?

  In Pleasanton, individuals can choose term life insurance, offering affordable coverage for a predetermined period, or whole life insurance, providing lifelong protection with level premiums and cash value accumulation. Other choices include universal life insurance that has flexible premium payments and tax-deferred cash value growth, and juvenile life insurance, offering lifelong protection with premiums locked in from childhood. These options cater to coverage lengths, premium payment structures, and cash value benefits.

• How much life insurance should you get in Pleasanton?

  To determine the appropriate amount of life insurance in Pleasanton, calculate the income your family would require if you suddenly passed away. Next, account for any outstanding debts or financial obligations that would need settling upon your demise. Finally, take stock of any existing life insurance policies you may already have in place.

• What is the consequence of lying in your life insurance application in Pleasanton?

  Lying in your life insurance application in Pleasanton can result in the insurance company rejecting your application or canceling your subscription if later they discover that there was false information in your application. Therefore, it's crucial to be truthful and accurate when completing your life insurance application to ensure you receive coverage and avoid potential complications.

• What is included in funeral and burial insurance in Pleasanton?

  In Pleasanton, you can have preneed insurance, which involves purchasing through a licensed agent associated with a funeral home, designating the funeral home as the beneficiary, and preselecting burial items. On the other hand, final expense insurance, typically purchased from an insurance company, allows you to choose a beneficiary and provides a flexible payout.

• What is the primary purpose of getting life insurance in Pleasanton?

  The primary goal of having life insurance in Pleasanton is to provide financial protection for your family and loved ones after an individual's death. The selected beneficiaries will receive a sum of money called a death benefit. The bereaved family can use this money for various purposes, such as paying off debts like mortgages or credit card bills, covering daily household expenses, and managing funeral and other final costs.

• 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.