Best Life Insurance Companies in Rialto, CA

FAQs

• How does juvenile whole life insurance work in Rialto?

  Juvenile whole life insurance helps parents or grandparents financially protect their children or grandchildren in Rialto. It offers permanent protection for minor individuals, applicable for children ages 0 to 16, and its cash value can be obtained through policy loans. As a whole, it will help children become financially stable later on.

• What type of life insurance should you acquire in Rialto?

  It depends on your personal situation. Choosing what type of life insurance suits you depends on your financial and coverage needs. If you want to have life insurance coverage for a specific period of time, you can purchase term life insurance. However, if you want to have protection for your lifetime, you can choose whole or universal life insurance.

• If you already have employer-sponsored life insurance in Rialto, should you get personal life insurance?

  Yes, you must consider getting personal life insurance in Rialto even if you already have employer-sponsored life insurance because policies provided by your company may not be enough to cover your and your family's needs. This can also last for a period of time. In addition, you cannot use this insurance if you leave your company.

• In Rialto, what is the difference between primary and secondary life insurance beneficiaries?

  In Rialto, primary beneficiaries will receive the cash value of death benefits in case of the death of policyholders, and secondary beneficiaries can only receive death benefits if primary beneficiaries are no longer living. Also, naming a primary beneficiary is required in life insurance, but second beneficiaries are optional. This means that policyholders are allowed not to have secondary beneficiaries in their policies.

• Where can you use your life insurance in Rialto?

  You can use your life insurance in Rialto to make charitable contributions, pay taxes, or be a source of savings for your retirement. You can also use this type of insurance to provide inheritance for your loved ones if you do not have enough assets. In addition, it can also be used to pay for your burial and funeral expenses.

• 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.