Life Insurance
Getting life insurance is becoming more and more popular. It is not considered a luxury anymore - it is financial protection and a guarantee that your beloved ones will not financially struggle after you pass away. If you are a resident of California and you are thinking of buying a life insurance policy, CLS Insurance Services has prepared a list of things you should know when shopping for life insurance:
- Free-look period. When you buy a life insurance policy in the Golden State, you have a period of time (lasting at least 10 days) to review your policy and decide whether you want to keep it or not. If you are unsatisfied with the policy you have purchased, you can terminate it during the free-look period of time and receive a full refund. The length of a free-look period varies based on the insurance company.
- Grace period. After you purchased life insurance, you have a grace period. This period was created for those who are late with their payments. Within at least 30 days after the policy premium due date, they still can pay for their insurance without any penalty. Moreover, during the entire grace period, your life insurance policy remains valid.
- Life insurance in the Golden State is regulated through the State Insurance Code of California, the purpose of which is to protect insurance consumers and the life insurance industry.
Life insurance is not mandatory in the Golden State - it is up to you to decide whether to have life insurance or not. If you are thinking of getting it but you still have questions and you do not know where to start, do not hesitate to contact CLS Insurance Services to talk to one of our experienced and knowledgeable insurance agents. They will do their best to answer all your questions and find a perfect policy for you and your family.
