If you are in the market for life insurance in the San Jose, CA, area, Bayshield Insurance is here to help. But more than just quoting rates and helping you choose the right coverage, we are here to answer your questions and help you better understand the benefits of life insurance.

Here are a few little-known aspects of life insurance:

Waiver of premium benefit.

This benefit covers premiums should the insured become disabled. Premiums could be covered temporarily if the disability is short-term or longer if the disability is long-term or permanent.

Accidental death benefit.

Many life insurance policies contain a provision that if death should occur by accidental means, the death benefit could double. This is often referred to as double indemnity.

Cash value.

Permanent or whole life insurance policies can build value as premiums are paid through the years. This cash value can be tapped into via a policy loan or by cashing in the policy for its accumulated value in the future.

It may cover insurability.

Some life insurance policies may insure the owner’s insurability. This means that despite any future health issues, the owner is guaranteed the ability to increase their coverage. In some instances, these opportunities come at specific points in time.

Life insurance is most affordable when young.

Some people don’t recognize that life insurance is at its most affordable when the insured is young and healthy. That means the best time to buy is now.

Bayshield Insurance is here to help.

For those in the San Jose, CA, area, Bayshield Insurance is here to answer your questions and help you secure the life insurance coverage you deserve. Reach out to us with your questions and to get a price quote today.

Life insurance companies agree to pay out an amount of funds to your beneficiaries should you die. There are several life insurance plans, and finding out which is best depends on your financial goals and situation. There are two common types of coverage offered by Bayshield Insurance in San Jose, CA: Term Plans and Whole Life Plans.

• Term Plans: These shorter-term options have lower premiums for a shorter payout period but have higher interest rates. These are ideal for those just entering the realm of insurance, who aren’t ready to commit to longer periods, or who are on a limited budget.
• Whole Life Plans: This lifetime coverage offers higher payout rates and lower premiums. Making this choice depends on your expected lifespan and financial needs.

Life Insurance Plan Inclusions

Inclusions are benefits provided by life insurance policies and include a wide range of features and benefits. They are broken down into four categories, each one featuring different aspects. Understand these before making a decision about life insurance plans.

• Death Benefit Inclusions: Death benefits are payments made to the beneficiary should the policyholder die before the end of the policy’s terms.
• Income Protection Benefits: These benefits provide income for surviving dependents should the policyholder get seriously ill or unable to work.
• Beneficiary Designation Inclusions: Should the property owner choose to make you the beneficiary, you’ll obtain the rights over the entire aid.
• Other Inclusions: Depending on the plan in place, other inclusions provide coverage related to health, motor vehicle incidents, and other factors.

Considering Your Life Insurance Needs?

You’ll need a comprehensive life insurance plan to protect you and your family after your passing. Learn more about coverage options from an agent at Bayshield Insurance in San Jose, CA.

Life insurance is an important financial tool. It can protect your family if you pass away unexpectedly. Life insurance can also be used to pay off debt, create liquidity, and create retirement savings. There are several great reasons for San Jose, CA residents to purchase a life insurance policy from Bayshield Insurance. It is also important that you purchase the right policy for your needs, so you need to identify the common mistakes people make when it comes to purchasing this vital coverage.

Three Common Mistakes People Make While Purchasing Life Insurance 

1. Not Getting Enough Coverage For Their Beneficiaries

Many make the mistake of getting a policy that pays out the amount that would cover their beneficiaries according to right now. When you work out the amount, consider inflation, education costs, paying off a mortgage, and other things people avoid considering when they purchase life insurance for their families. It’s always better to get too much coverage instead of too little coverage. 

2. They Wait Too Long

Don’t wait too long to purchase a life insurance policy. You can always add to it down the road if you need to make adjustments. The earlier you start putting in money, the more you will accumulate. Life insurance premiums are often higher the older you are when you purchase them. 

3. They Think They Won’t Need It

Many individuals are under the impression that they don’t need life insurance because they have enough assets and savings to protect their families when they pass. The problem is they may not be able to get their hands on the money from these assets quickly enough. Life insurance premiums are specifically designed to pay out to your beneficiaries quickly after you die. 

Call Today To Discuss Your Options

If you are concerned about your life insurance policy or are considering getting it in the first place, contact us at Bayshield Insurance. We have served the residents of San Jose, CA for years, ensuring their loved ones are properly taken care of at all times. 

Life insurance is an essential purchase that provides financial security to your loved ones in San Jose, CA. Two of the most common types of life insurance are term life insurance and whole life insurance. How do you decide which is the better choice for you? Bayshield Insurance explains the difference between term and whole life policies and factors to consider when making your choice.

Understand the Difference

Term life insurance offers coverage for a specific period, typically 10, 20, or 30 years. If you die during that period, your beneficiaries will receive a benefit. Whole life insurance provides lifelong coverage with consistent premiums. As long as your payments are current, your beneficiaries will receive a payout when you die.

Factors to Consider

When deciding between term life insurance and whole life insurance, consider the following factors:

1. Financial Goals: Assess your financial goals. If you need temporary protection, term life insurance might be the most suitable. If you want lifetime coverage despite a higher cost, whole life insurance could be the right choice.
2. Budget: Consider your financial capacity. Term life insurance is affordable and provides protection for a specified term, making it ideal for those on a tight budget.
3. Age: Your age plays a critical role in your decision. Term life insurance might be more suitable if you are younger and only require coverage for a specific term. Conversely, if you’re older and require lifelong coverage, whole life insurance might be a better option.

Schedule A Consultation Today!

Choosing between term life insurance and whole life insurance isn’t an easy decision in San Jose, CA. If you have more questions or are ready to purchase a life insurance policy, contact Bayshield Insurance today.

Many of us believe life insurance is unnecessary for anyone not reaching retirement age or older. However, you should be planning for your financial future at any age, no matter how young you are. Millennials might think they are exempt from these conversations, but that couldn’t be further from the truth.

Planning Your Financial Future

As a millennial, you’ve worked hard to gain the financial assets that you have. The last thing you want is that, in the tragic event of your passing, your loved ones are left to deal with any unpaid debts or others are making financial decisions on your behalf. 

Enjoy Lower Premiums

Life insurance premiums tend to be lower when you’re younger and healthier. It will make it easier to obtain a plan that you can lock in at a premium rate, which should save you money in the long run. It’s also an investment, as some policies will have a cash value that accumulates over time. Many use that extra money for things like retirement.

Lessen the Burden of Those Around You

Taking out a policy will lessen the burden on those around you. Unfortunately, if you’re a millennial, you’re likely to have some form of debt, such as student loans. The policy should help handle those debts and tackle any medical expenses you incur. 

Contact Bayshield Insurance in San Jose, CA 

At Bayshield Insurance, we know that a good policy is the only way to protect you against financial loss. We understand how crucial it is that you find coverage that meets your needs and will navigate you throughout the entire process. 

If you’re a millennial looking to talk about life insurance, contact us at Bayshield Insurance. We happily serve San Jose, CA and surrounding areas.

At Bayshield Insurance, serving the greater San Jose, CA area, we help individuals select and purchase the life insurance products that are best for them. Life insurance can help to pay for your final expenses, as well as provide your family with money, as they will no longer have your income coming in. One of the questions that we are often asked is how much life insurance is ideal. There are many factors that need to be considered when determining how much life insurance you should have.

Here are some of those factors:

How Much Debt You Carry

You should always consider the amount of debt you have, including car debt, student loan debt, home debt, and credit card debt. You want to ensure your life insurance policy will cover all your debts if you pass away. 

How Much You Earn Now and Are Projected to Earn In the Future

Another factor to consider is how much you earn now and how much you are projected to earn in the future. Your family is likely reliant on this income, and the amount you make times the number of working years you have left may help to give you an idea as to how much income your family will lose and may need to live the same quality of life should you pass away. 

Contact Us Today

Determining how much life insurance coverage you should carry is not always straightforward, and there are many different things that need to be considered. If you are in the market for a life insurance policy in the greater San Jose, CA area, Bayshield Insurance can work with you to determine how much coverage you need and to help find you the policy that best protects yourself and your family. 

At Bayshield Insurance, serving the greater San Jose, CA region, we are happy to assist our clients with all of their insurance needs, including life insurance. Many people have questions about this coverage, and one of the questions that we are often asked is whether a parent should take out a life insurance policy on a child. 

Should You Take Out a Life Insurance Policy On a Child?

If you are unsure if you should take out a life insurance policy on a child, you should consider whether you can afford to pay for a funeral out of pocket. No one wants to think about their child passing, but if an accident or illness happens, you want to ensure you can give your child the final resting place they deserve. If you cannot afford to pay for a funeral out of pocket, buying life insurance is a wise choice. 

What Are the Benefits of Taking Out a Life Insurance Policy On a Child? 

Another reason why you may want to take out a life insurance policy on a child is that it helps your child to get life insurance early on in life before injuries or illnesses strike. Many of these policies can carry along with your child their entire life, so buying a policy before illnesses or injuries strike helps to keep premium costs low. 

Give Us A Call

If you have a child, you may want to consider taking out a life insurance policy on your child. If you think you can benefit from purchasing a life insurance policy, Bayshield Insurance, serving the greater San Jose, CA area is here to assist you. Let us help you find the right policy for your family’s needs, including life insurance policies for yourself and your children. 

Among the best moves that you can make to safeguard the well-being of your family after you pass away is purchasing life. If you are lucky enough to work for an employer that provides you with an employee benefits package, a life insurance policy will likely be included. Many San Jose, CA residents that have life insurance through their jobs don’t think they need more life insurance. But this is not correct; at Bayshield Insurance, we recommend getting more life insurance even if you already have a life policy as part of your employee benefits.

Why More Life Insurance

1. Your Employee Benefits Life Policy Is Not Enough

Most employers offer their staff life policies that are several times their annual salary. For most employees earning $50,000 to $70,000 annually, the coverage is usually $200,000. While this is a reasonable amount, it’s not sufficient life insurance if you have debts, kids who will be joining college in the future, and a mortgage. Getting additional insurance would plug the holes left by your employer’s group life insurance and provide sufficient financial protection to your loved ones.

2. Your Employer’s Group Life Insurance Isn’t Customizable

An excellent life insurance policy should fit your family’s needs and financial situation. However, the group life insurance policy provides the same coverage to every employee. This means you can’t customize the policy like adding riders to suit your specific situation. Getting another life insurance enables you to customize the policy the way you want.

3. You May Want a Permanent Life Policy

Most life insurance policies provided under employee benefits are term policies. Employers usually renew the group life policy only for as long as the employee is working for them. If you want a permanent life policy, your only option is to get individual life insurance.

Bayshield Insurance is a leading insurance agency in San Jose, CA. Call us today for life insurance assistance.

Those who are in the San Jose, CA area are going to have various personal insurance needs. One form of coverage that all people need to seriously consider is life insurance. This is a unique form of insurance that provides benefits that are unmatched by other forms of coverage. There are various reasons why you should get a life insurance plan when you are here. 

Provide Financial Protection for Dependents

An important reason that you should get life insurance coverage is that it is a good way to provide financial protection for your dependents. If you have people that rely on you for financial support, ensuring this support moving forward is important. A great way that this can be done is with life insurance. With this coverage, you will be able to build a full plan that will provide financial protection to those that you care about. 

Investment Alternative

Today, you can also use life insurance as an investment alternative. Due to recent volatility in the financial markets, finding a way to diversify and have a more secure investment stream can be helpful. A great way to do this is with a whole life plan. This form of coverage will put some of your payment into an account that accumulates interest each month. You can then use this as a source of liquidity in the future. 

If you do live in the San Jose, CA area, you will want to make sure that you speak with the team at Bayshield Insurance about your life insurance needs. As you are looking for a plan in this area, Bayshield Insurance can make the process easier and smoother. They are able to answer any questions that you have and give guidance necessary to build a plan ideal for your situation. 

Bayshield Insurance serving San Jose, CA would like to talk to you about some of the common life insurance questions you may have.

What is Life Insurance?

It is an insurance policy that you take out and pay a monthly premium for. In the event of your death, money is paid out to your beneficiaries to take care of them after you are gone. It affords your loved ones additional financial protection or may be used to pay off a mortgage after your death.

How many types of Life Insurance Policies are there?

There are two main types – term life and whole life. Term life insurance is when you take out a life insurance policy for a particular time frame. If you die during that period, then your death benefit is paid out. If you do not, then you may renew it depending on the policy wording. A whole life insurance policy is a policy that you pay for from the time you take it out until the time that you pass away. The death benefit is paid to your beneficiaries

What is a Beneficiary?

A beneficiary is a person or persons that you have nominated to receive the benefit (or money) from the life insurance policy after your death.

Are Life Insurance Policies expensive?

This depends on several factors including, the amount you wish to insure, your health, the type of life insurance policy you want, and your age. Term life insurance policies are more cost-effective in the beginning but eventually get more expensive. Whole life insurance policies are more expensive in the beginning and flatten out as you age.

There are many benefits to purchasing a life insurance policy. Contact Bayshield Insurance serving San Jose, CA today and let them guide you.