Find the Best Life Insurance Quotes in San Diego, CA

How to choose life insurance in San Diego

Life insurance provides assurance your family will be able to cover expenses when you pass away. The death benefit is used for funeral costs, debt repayment and income replacement. Life insurance can also be used as an inheritance for your children or other family members.

Even if you don’t have a significant other or children, life insurance can be used to take care of older family members who need support and assistance or business expenses if you are the owner of a small company.

The California Department of Insurance provides resources for consumers considering purchasing life insurance.

Types of life insurance in San Diego

While there are multiple types of life insurance available in San Diego, most policies are either term life or whole life policies. The major difference between the two is the length of the term during which the policyholder receives benefits.

Universal life insurance, a variation of whole life insurance, is also becoming popular in San Diego. Universal life insurance tends to be more flexible than traditional whole life policies and includes a death benefit and cash value component. Another popular type of insurance is funeral insurance, which covers funeral and burial costs and generally does not require a medical exam.

The cost of life insurance in San Diego

The cost of premiums for a life insurance policy will vary depending on your policy type and death benefit amount. Term life policies tend to be cheaper than whole life policies, but buying a whole life policy when you’re young can reduce the cost of your premiums.

An actuary from your insurance provider will review other conditions to determine the price of your premium. These include:

• Age
• Gender
• Nicotine and alcohol use
• Personal health history
• Family health history
• Hobbies
• Occupation

Choosing a life insurance provider in San Diego

Because of the importance and value of life insurance policies, you need a reliable provider. A reputable life insurance carrier has longevity, financial stability and a range of coverage options. Companies such as MetLife, Prudential Financial and State Farm have provided life insurance for nearly 100 years or more. New York Life Insurance Group, founded in 1845, is one of the nation’s largest providers.

Check with independent credit rating agencies, such as Standard and Poor’s, Moody’s or A.M. Best, to see the financial strength of insurance providers before purchasing your policy.