Life Insurance

Life insurance is a form of insurance that pays monetary proceeds upon the death of the insured covered in the policy. Essentially, a life insurance policyis a contract between the named insured and the insurance company wherein the insurance company agrees to pay an agreed upon sum of money to the insured's named be so long neficiary as the insured's premiums are current.

People take out life insurance policies for a numb er of reasons. Such insurance provides security to family members upon the loss of a loved one. For instance, if the primary wage earner dies in his or her prime, the death benefit received from a life insurance policy will assist the surviving family members in overcoming the burden of the tragic loss. Life insurance can be purchased by individuals, but is also offered as a perk by many employers. Often times, large employers and government employers offer group life insurance at no cost to the employee. Should the employee wish to obtain additional life insurance from the employer's insurance company, they can usually do so at reduced rates.

The cost of life insurance varies depending on such factors as the insured's age, health, and occupation. For example, the premium for a 25-year-old, male, non-smoker in excellent health will be far less expensive than a similar policy for a 65-year-old male smoker. Similarly, a sky dive instructor would have to pay much higher premiums for life insurance than would a librarian.

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Phone     (925) 866-1800
Fax           (925) 866-1860
American Compensation Service, Insurance Services, San Ramon, CA