Reading Over Your Life insurance Contract in San Francisco, CA

Honestly, life insurance companies aren't known for being friendly or gentle San Francisco people with flowers in their hair. Insurance companies are not always popular with the public because of the tough jobs they have to perform every day of the week. What you must realize about life insurance companies in San Francisco, CA (or all over the U.S.) is that these are commercial entities looking to make money so they can stay in business. Therefore, the company cannot afford to give away thousands of dollars out of politeness. Doing so would bankrupt the company and if this kind attitude were prevalent in the industry then there would be no life insurance provisions at all. Therefore, the insurance company has to be blunt. Every check they write to a surviving member of the family has to be according to plan.

The two most basic forms of life insurance coverage are term and permanent life. Both have been heavily criticized for very different reasons. Term life insurance is designed to be temporary, even if the duration period can be extended for decades. However, some disgruntled policyholders argue that it's not fair that coverage "ends" as soon a person reaches his or her 70s. The insurance company then states that the insured has successfully lived past the coverage term and so no money is owed back. Never confuse a term life insurance policy with a permanent policy. Term life is for emergencies and for lump sum payments. Permanent life is for long-term investment.

However, permanent life insurance has also been criticized because of exclusions relating to "accidental death." It's true that some insurance companies will not cover what they deem preventable deaths, whether that is because of suicide, war, civil disagreement, or even fatal accidents on or off the job. This is why it's important to carefully read over your contract and discuss any exclusions that you are concerned about. You might also ask for the company to add in an inclusion to the contract if a possible scenario concerns you. Usually accidental death and dismemberment coverage is less expensive because accidental deaths are relatively rare. It is very important though that communication be opened with the insurance company so that there are no misunderstandings at the absolute worst time.

Death is never an easy subject in such a pleasant city like San Francisco, but it never hurts to talk about the subject. Plan for the worst but live for the best and always enjoy your stay in this grand hotel called life!

 

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