HUNTINGTON BEACH, Calif., Nov. 14, 2011 /PRNewswire/ -- Even those with life insurance realize they need more; the average main-street American only has enough for 3.6 years of replacement income. CaliforniaLife.com makes the process simple with online quoting, applications and purchasing. Many top-rated life insurance carriers now offer term life insurance without the need for exams. Typically a brief health history is taken over the phone followed by the insurance company verifying qualification through Medical Information Bureau reports, driving history and pharmacy reports for current and previous prescriptions. Most companies limit the coverage amount to $300,000 or less, but the added convenience and competitive prices have made it a big hit, according to John Espenschied, the website founder.
Of the 58% having life insurance, the majority opt for only the minimal coverage offered through work. Unfortunately, leaving the job often means starting over at a potentially higher premium. Age is one of the largest factors in determining the cost or premium charged for life insurance. When you lock in a policy, whether 10, 20 or 30 years, the premium is fixed. This is why it makes sense to consider life insurance even well before you might need it. An example of a 40-year-old male compared to a 30-year-old can be 80% higher out-of-pocket, and a 50 vs. 30-year-old can cost 400% or more. Not taking into account any health issues that may also arise as one gets older, the percentage could be much higher.
To put this all into perspective, if you owned an investment property that's generating $100,000 a year income would you have it insured? Buying life insurance today is now as easy as qualifying for property or auto insurance, says Espenschied.
With over 61,000 people searching online for life insurance daily Espenschied says, "We look forward to helping many people make it a fast and easy process." CaliforniaLife.com also confirms it's seeking qualified, licensed life agents and hopes to add 150-200 agents in the next year throughout the U.S. and District of Columbia.