California Term Life

Written by Scott W Johnson

Returning from COVID Lockdown?

Wondering about Term Again?

Want a Great Rate – but Don’t Want to Get caught Up in Whole Life?

Term Insurance is Back in 2023:

Post Covid Lockdown – Term Life Insurance issuance is back.  With more and more businesses opening and COVID moving into more of a mainstream illness – insurers are opening back up as well.  That at least is the opinion of WholeVsTerm.  However there are still some challenges.

If you have been on the fence about buying a term life insurance policy – now is a good time to jump back in.  Although term policies still typically require a paramed visit, its is now possible to get that Term Policy that you and your family need.

Life insurers have seen an increased mortatlity rate and are certainly feeling the pain.  Many of them have increased underwriting in response to this.

California Term Life Insurance is Back Also:

Life Insurance issuance in California, the hub of WholeVsTerm is back in a big way.  We are seeing policies go through at Preferred Plus, Preferred, Standard Plus, and Standard.  Additionally in certain rare situations policies are going through with a Table Rating.

California is a great place to live and a great place to purchase a Term policy.  The sun, the jobs, the people – its all good here.

What is Different About Life Insurance Post Covid:

Underwriting standards still seem higher after the Covid Lockdowns. Another change is that Express Issue policies seem less available. Certainly they tend to be offered up in smaller death benefit amounts.  But regular standard issue Term policies in lengths of 10 years, 20 years, and 30 years are still totally available.

There are reports of life insurance applicatinos proceeding more slowly though.  An article by Insurance News Net, states: that some agents “say insurers are slow to process their life insurance and annuity applications.”  They add that “The delays are real…” As to why this is…is almost anyones guess.  More business, higher employee turnover, there isa  multitude of reasons.  One thing is for certain is that the UW process may not be as quick as it once was.

An additional change in that it seems more consumers are starting to fully understand the need for Life Insurance after the lockdown experience. That is of course, just our opinion.  But sig

A Solid Plan to Secure a California Term Life Policy in 2023:

We have stated on numerous occassions that having an annual physical with your primary care physician is a great place to start if you are interested in a term life policy.  Why?  Insurance companies in general like clients that have their own physician.  A Doctor that they see regularly and takes care of them.  If health issues are discovered than they are addressed.  In other words, go get your physical.  Do what your Doctor tells you to do.

Another important step is to speak with an insurance agent and discuss any underwriting challenges that you may have.  Many insurers have different criteria for the same health condition. An example of this may be Asthma.  Some insurers may rate astham at Standard Plus, while another insurer may rate it higher or lower.

Remember that insurers are very good at discovering information and it is usually your best bet to declare these with your agent on the phone, before you apply for term life insurance.  Applying for life insurance only to discover that you failed to disclose that you smoke, is not going to work out in your favor.

Shop for the Insurance that you need, but also what you can afford.  A lot of financial professionals and insurance agents are quick to point to consumers to purchase the term policy that they need.  While that is all well and good in Calfornia, it might not be the best plan of action if you cannot afford that term policy.  Shopping with your budge in mind is key. Remember that in general almost any life insurance policy is better than none if their is a payable claim.  Sure $100,000 in a 20 year term policy – might not be enough – but its better than nothing in some situations.

Be careful with life insurance replacement policies.  Sometimes it can make sense to buy a new insurance policy to replace an existing one, but sometimes not. Dont let the current one fall out of force until you have the new one in place.  And you have confirmed that.

Term Policies are Back in California:

10 Year, 20 Year, 30 Year term life insurance policies are back.  Get a Quote, Apply, Plan the Paramed, Get an Offer, and Pay.

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Marindependent Insurance Services LLC
Marindependent Insurance Services LLC

We work with people across the country with their Life Insurance Needs.

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