GREATER PALM SPRINGS INSURANCE SERVICES
P.S. INDEPENDENT INSURANCE SERVICES INC
P.O. BOX 1870 PALM SPRINGS, CA 92263
760-320-6867 FAX 760-320-4027
CALIFORNIA INSURANCE LICENSE #0C15048
 
AIG
WEST COAST LIFE
NEW YORK LIFE
PRUDENTIAL
LIFE INSURANCE
.....Life Insurance is often forgotten insurance that many us don't think about until it is too late. Life Insurance can protect your family, estate and business. We can assist in choosing the type of insurance plan you need. Whether its a term life,whole life or a universal policy we have you covered.
Please call us today for a free phone quote

FROM YOUR FAMILY'S HEALTH AND THE CARS YOU DRIVE TO THE BUSINESS YOU OWN.......

WE HAVE YOU COVERED!

 

SAMPLE QUOTES TERM LIFE - PREFERRED NON SMOKER
GENDER & AGE COVERAGE AMOUNT TERM MONTHLY AMOUNT
MALE 25 500,000 15 YEAR $23
FEMALE 25 500,000 15 YEAR $20
MALE 35 500,000 15 YEAR $23
FEMALE 35 500,000 15 YEAR $21
MALE 45 500,000 15 YEAR $48
FEMALE 45 500,000 15 YEAR $41

 

Term Life: A type of life insurance that covers you for a period of years and then expires or must be converted. This is the least expensive type of life insurance, and has no cash value.

 

Universal Life: A type of policy that has a savings plan component along with the life insurance. This is a good type of policy if you want something that will give you some additional resources later in life.

 

Whole Life: Life insurance for which you pay a level premium in return for a level face value. It builds cash which you can borrow against. Note: If you want a premium that never changes, you want guaranteed whole life. There are "modified" whole life and "variable" whole life policies which will have premium changes as you get older.

 

Accumulation Value: This is the savings accumulation in a Universal policy. It is money you can actually draw from if you were to have an emergency. It grows each month as you pay your premium and as the company applies interest.

 

Annually renewable: A policy that can be renewed every year. Generally, when applied to a Term life, it means the premium will increase each year.

 

Beneficiary: The person or organization who will receive the payment when the insured individual dies.

 

Cash Value: All whole life policies build cash value. This is the amount of money you would receive if you decided to surrender or "cash out" your life insurance. If you live to age 100, the cash will equal the death benefit.

 

Contestability: All insurance companies have a right to "contest" a claim if the insured dies in the first two years. If an individual lied on an application or failed to reveal a condition that would have resulted in denial, the company will refuse to pay the claim. They will, however, return all of the premium. After two years, the company has to pay even if you did conceal something.

 

Conversion Rights: A common clause usually applicable to a term policy. Once the initial term expires, the insured usually has the right to convert the term to anything the company offers; the new premium will be determined by the age of the insured.

 

Decreasing Term: A conversion option for most Term policies and a common form of mortgage life insurance. The premium remains the same (level), but the face value decreases each year.

 

Face Value: The original amount of insurance for which the insured applied. This is the benefit that will be paid upon the death of the insured.

 

Grace Period: Most policies allow you a period of time when your policy remains in force even if you are late on a payment. Some Universal policies allow you as much as 60 days. You will, however, need to get caught up on all past due premiums to bring your policy current.

 

Graded Benefit: A type of policy that has no medical underwriting--meaning anyone can get it-- but has a waiting period before it will pay the enitre face value. The waiting period usually does not apply if the insured dies in an accident. Also, during the waiting period, the premium plus interest will be returned, so the insued never actually loses any money.

 

Insurability: The conditions you must meet in order for the company to write insurance on you. If you have severe medical conditions, you are likely to be turned down.

 

Medical Underwriting: The term used for the medical review that is conducted prior to issuing a policy.

 

Premium: The periodic payment you must maintain to keep the policy active.

 

 

© 2008 PALMSPRINGSINURANCE.COM -GREATER PALM SPRINGS INSURANCE SERVICES - P.S. INDEPENDENT INSURANCE SERVICES INC. CA LIC # 0C15048

333 N PALM CANYON DRIVE SUITE 111 - PALM SPRINGS, CA 92262 760-320-6867 FAX 760-320-4027 TOLL FREE 800-327-7926

SERVING THE COACHELLA VALLEY INSURANCE NEEDS FOR OVER 20 YEARS, AUTO INSURANCE, MOTORCYCLE INSURANCE, CAR INSURANCE, HEALTH INSURANCE, LIFE INSURANCE, BOAT INSURANCE, RV INSURANCE, MOTORHOME INSURANCE, SENIOR SUPPLEMENTS, BLUE CROSS, BLUE SHIELD, ANTHEM BLUE CROSS, PACIFICARE, UNITED HEALTHCARE, PROGRESSIVE, CELTIC, SAFECO, HARTFORD AND BUSINESS GENERAL LIABILITY INSURANCE. SERVING THE FOLLOWING COMMUNITIES - PALM SPRINGS, PALM DESERT, INDIO, LA QUINTA, RANCHO MIRAGE, INDIAN WELLS, CATHEDRAL CITY, COACHELLA, THOUSAND PALMS, DESERT HOT SPRINGS, MORONGO VALLEY, YUCCA VALLEY, JOSHUA TREE AND 29 PALMS. RECENTLY WE HAVE EXPANDED OUR SERVICE AREAS TO RIVERSIDE, TEMECULA, SAN BERNARDINO, BANNING, BEAUMONT, SAN DIEGO AND SURROUNDING AREAS. FREE PHONES QUOTES ARE AVAILABLE ANYTIME DURING OFFICE HOURS. CALINSURED.COM PALMSPRINGSINSURANCE.COM