Best Life Insurance in California of 2022

Amanda Hester

If you’re planning for your family’s finances, one of the best ways to provide financial security for your family is through life insurance, which will help take care of them if you can’t anymore. We reviewed and compared the top life insurance companies based on policy pricing, available options, customer support, financial strength, and overall quality.

Flexibility to adjust coverage throughout your term

$8,000,000

Coverage Up To

No (up to $3M)

Medical Exam

Overview

With Ladder, you can customize your insurance coverage depending on your unique needs throughout your term. You can remove coverage when necessary and apply to add more. Rates start from $4.95/month based on a 20-year-old female for a 10-year term, preferred plus health class.

What we like

  • Flexibility to adjust coverage throughout the term
  • Quick and simple coverage you can manage online
  • No medical exam required for coverage up to $3M

What we don't

  • No riders are availabe
  • Coverage ends at 70 years of age

Budget friendly life Insurance with quick approval

$2,000,000

Coverage Up To

Not Required

Medical Exam

Overview

At Ethos, your journey to life insurance just got easier. Offering a simple and convenient process, applicants can access plenty of terms and coverage plans.

What we like

  • 100% online and hassle-free application process
  • Budget-friendly plans
  • No cancellation fees

What we don't

  • Term coverage available for over the age of 65

Easy going application with no medical exam

$1,500,000

Coverage Up To

Not Required

Medical Exam

Overview

Bestow determines the monthly premium for individuals based on how long a term they are looking for, their current health, and various other factors. You can receive a quote and determine the amount of coverage you are eligible for in minutes with no medical exam - you'll save yourself the hassle of going to appointments.

What we like

  • No medical exam
  • Individuals who do not smoke get better premiums
  • Flexible policy terms with coverage
  • Simple and straightforward application process

What we don't

  • No coverage for people over the age of 60
  • Only term life insurance is offered

Rewarding healthy lifestyle choices with better premiums

$3,000,000

Coverage Up To

May Need

Medical Exam

Overview

Sproutt uses their Guided Artificial Intelligence Assessment (GAIA) platform to evaluate individuals based on their movement, sleep, balance, nutrition, and emotional health to make an informed decision on life insurance coverage. The agency will reward you with lower premiums as you improve your lifestyle choices towards a healthy one.

What we like

  • Improving lifestyle choices will get lower premiums
  • The healthier you are, the more competitive your rate will be
  • Personzlied suggestions on lifestyle improvements

What we don't

  • If you are a smoker, you will end up paying more
  • May have to contact an agent for whole life insurance

Life insurance with a complete online application process

$3,000,000

Coverage Up To

May Need

Medical Exam

Overview

Haven Life simplifies the insurance application process to learn about your coverage options. There are two products: Haven Simple and Haven Term. Haven Simple requires no medical exam and has a lower coverage amount, and Haven Term may require a medical exam and has more options for coverage.

What we like

  • Healthy individuals will get cheaper premiums
  • 100% online application - no need to talk to an agent
  • Wide range of coverage options
  • Haven Term has various riders
  • No medical exam for Haven Simple

What we don't

  • Only offers term life insurance
  • Only selected regions are eligible for riders

Life insurance designed around for young families

$5,000,000

Coverage Up To

May Need

Medical Exam

Overview

Fabric understands that your family is extremely important, so it provides life insurance that will give the necessary financial security to your loved ones if you happen to pass on. In addition, Fabric offers its services online, and It is accredited by the Better Business Bureau with a grade of A+. The company offers accelerated underwriting for applicants who qualify, so you can be approved in minutes without a medical exam.

What we like

  • Healthy individuals with young families get better premiums
  • Convenience of applying and purchasing online
  • Creating free wills
  • 1% death benefit donated to charity (no extra cost)
  • 30-day grace period if payment fails

What we don't

  • Limited term length of 30 years
  • Not available in every state

Affordable life insurance coverage

$1,000,000

Coverage Up To

Not Required

Medical Exam

Overview

Walnut’s life insurance policies come with optional perks that include memberships to wellbeing services such as Headspace and Classpass. This provides you with tools to help live a healthier lifestyle.

What we like

  • Complete digital experience
  • Easy online application
  • Transparent pricing
  • No medical exam
  • Membership perks

What we don't

  • Low coverage for high-risk applicants
  • Coverage based on individual factors

What is the cost of life insurance in California?

A life insurance policy in California may cost you around $56 a month. Your life insurance needs will differ depending on your age and financial commitments. The proportion of insurance you purchase must be determined by the standard of living you want to provide for your beneficiaries. When you leave this world, you must take into account the value of your assets and the sources of ongoing available income to your dependents.

Simply put, you should select a life insurance cover that is determined to be able to meet your needs. In this procedure, a balance must be achieved. Being over-insured, like being under-insured, can have a detrimental impact on your budget and jeopardize your long-term financial goals.

Whereas each person’s obligations, needs, and financial circumstances must be assessed on an individualized level, it is critical to use an amount of life insurance that takes into account your particular situations without inadequately or over-insuring.

If you have a family that depends on you, it is always a good idea to have life insurance. It will give them the peace of mind that they will be taken care of if something happens to you.

How are life insurance rates determined in California?

When you’re shopping for life insurance, one of the most important factors to consider is the cost. How are life insurance rates determined in California? The price of a policy will vary depending on your age, health, and the type of coverage you choose.

  • Age: Your age is a determining factor in how much you’ll pay for life insurance. Generally, the older you are, the more expensive your premiums will be because statistically speaking, older people have a higher risk of dying. In California, your insurer can’t charge you more than 2 ½ times as much as someone who’s 20 years.
  • Health: Your health is also taken into account when insurers set rates. If you have a history of health problems, you can expect to pay more for coverage than someone in good health.
  • Type of coverage: The type of life insurance policy you choose will also impact the cost. Term life policies are less expensive than permanent policies.

Difference between term and whole life insurance In California

There are many differences between the two types of life insurance. The main difference is that whole life insurance gives you a payout at the end of your policy, which can be used for any purpose you choose.

Term life insurance only pays out if you die within the term period chosen, whereas whole life insurance will pay out regardless of whether you die within the policy or not.

Another difference between the two is that term life insurance is cheaper, but it doesn’t have any cash value. On the other hand, whole life insurance is more expensive, but you can borrow money from the policy if needed.

Which one’s right for you depends on your situation. If you are looking for something cheaper, then consider term life insurance. But if you are planning to leave something behind for your family or want an investment that will give back after a certain period, then whole life insurance might be a promising choice.

What does life insurance cover in California?

The type of life insurance policy you choose will determine what exactly is covered. When choosing a life insurance policy, it’s important to understand the different types of coverage available. The three main types of coverage are death, terminal illness, and permanent disability.

Death coverage pays out a certain amount of money to your beneficiary if you die. Terminal illness coverage pays out a certain amount of money to your beneficiary if you are diagnosed with a terminal illness and have a limited amount of time to live. Permanent disability coverage pays out a certain amount of money to your beneficiary if you become permanently disabled and are unable to perform the functions of your job.

Some policies will pay out money if you become critically ill. Most critical illnesses covered by life insurance policies include heart attack, stroke, and certain forms of cancer.

How to choose the best life insurance plan in California?

Here are a few factors that you may consider while selecting the best life insurance policy in California:

  • Your willingness to risk: When you are looking at life insurance plans in California, you can tell your insurance agent which of the two types of life insurance you would prefer.
  • Your age: The older you are, the more likely it is that you will need whole life insurance. This type of insurance lasts for your entire life, as long as you make your premium payments. It also builds cash value that you can access if you need it.
  • Your occupation: If you are in a high-risk occupation, such as a police officer or firefighter, you should consider life insurance more deeply. This type of insurance is also a good option for people who want to make sure their loved ones are taken care of if something happens to them.
  • Your budget: Term life insurance is more affordable than whole life insurance. If you are on a tight budget, consider lowering your coverage amount.
  • Policy type: The premium and payout of a term life insurance policy are fixed, meaning it won’t change over the period you choose. However, premiums will increase if you choose to renew or purchase a new policy before your original term ends. Your beneficiary will receive the same amount regardless of how much your policy costs when you are alive. However, if you choose to decrease your death benefit, your premiums will go down.
  • The coverage amount you want: When deciding which type of life insurance policy to choose, it is important to consider what you value most. If you are looking for coverage that will last for a specific period and you want a pay out if you die during that time, then a term life insurance policy may be the right choice for you. However, if you want coverage that will last your entire life and have the potential to build cash value over time, then a whole life insurance policy is a better option.