Best Life Insurance Companies in San Leandro, CA

FAQs

• What can you expect from the medical exam when applying for a life insurance policy in San Leandro?

  You should anticipate an in-person medical exam when applying for life insurance in San Leandro. The medical history of you and your family, blood pressure, weight and height, and urine and blood samples may be required for the examination. You may also be asked lifestyle-related questions regarding alcohol consumption, physical activity, smoking, recreational drug use, travel, and hazardous hobbies. Furthermore, additional tests will be performed based on your policy, age, and coverage requirements. These tests include electrocardiograms, chest X-rays, and treadmill stress tests.

• What are your options if you fail your medical exam in San Leandro?

  If you fail your medical exam, you can seek out a life insurance policy in San Leandro that does not require a medical exam. However, premiums may be higher than with policies requiring medical exams. You could also purchase life insurance through your employer, or you could improve your health before reapplying.

• What are the benefits of purchasing whole life insurance in San Leandro?

  In San Leandro, whole life policies are ideal for your long-term needs. This policy can help protect your family in the event of your death by covering final expenses such as medical or estate bills and federal and state death taxes. In addition, it can be utilized for business purposes, including the insurance of key personnel, split-dollar insurance arrangements, and nonqualified deferred compensation plans. In addition, you can use the cash value option to save for college costs or retirement.

• Can you add riders to your standard life insurance policy in San Leandro?

  In San Leandro, whole life policies are ideal for your long-term needs. This policy can help protect your family in the event of your death by covering final expenses such as medical or estate bills and federal and state death taxes. In addition, it can be utilized for business purposes, including the insurance of key personnel, split-dollar insurance arrangements, and nonqualified deferred compensation plans. In addition, you can use the cash value option to save for college costs or retirement.

• Where can a San Leandro resident go to file a report of insurance fraud?

  Residents of San Leandro can report insurance fraud to the Fraud Division Regional Office that is closest to them. Complainants are welcome to visit the Enforcement Branch Headquarters at 2400 Del Paso Road, Suite 250, Sacramento, California. To submit a complaint, individuals may also send an email to Fraud@insurance.ca.gov or call the office at (916) 854-5760.

• 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.