Jay Gray has over ten years of experience offering a wide variety of life insurance plans. If you are a seeking professional assistance from an experienced life insurance agent then you have come to the right place. Jay is an independent agent who supports clients in Oceanside, Carlsbad, Vista and all communities in San Diego, Riverside and Orange Counties. To receive a free quote call Jay at 1-877-777-7055.
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Please feel free to contact us at 1-877-777-7055.
What is Life Insurance?
A contract in which an insurance company agrees to pay money to a designated beneficiary upon the death of the policyholder. In exchange, the policyholder pays a regularly scheduled fee, known as the insurance premiums. The purpose of life insurance is to provide financial support to those who survive the policyholder, such as family members or business partners. When the policyholder dies, the insurance proceeds pass to the beneficiaries free of probate, though they are counted for federal estate tax purposes. There are many types of life insurance, including: term life insurance, whole life insurance, and universal life insurance.
Term Life Insurance
Term Life Insurance is life insurance which provides coverage at a fixed rate of payments for a set period of time. After that period expires coverage at the previous rate of premiums is no longer guaranteed and the client must end the coverage, pay the higher non guaranteed amount or obtain a new life insurance plan with different payments and conditions. If the insured dies during the term, the death benefit will be paid to the beneficiary. Term insurance is the most inexpensive way to purchase a substantial death benefit on a coverage amount per premium dollar basis.
Universal Life Insurance
Universal Life Insurance is a type of permanent life Insurance which combines the low-cost protection of term insurance with a savings component that is invested in a tax deferred account. The cash value of which may be available for a load to the policy holder. Universal life was created to provide more flexibility than whole life by allowing the holder to shift money between the savings and the insurance components. The premiums, which are variable, are usually broken down into savings and insurance. There is usually a minimum rate of return.
Whole Life Insurance
Whole Life Insurance, also known as Permanent Life Insurance, is an insurance product that joins an investment factor with normal term insurance. Term insurance, unlike whole life insurance, only provides a death benefit for a specific period of time. The premium payment for whole life insurance pays into two separate components. Part of the charge for whole life insurance pays for the insurance coverage, the other part pays for the investment portion of the policy. As a person ages, more money is allocated to the insurance coverage in a whole life insurance policy. The investment component earns interest from the company’s investment strategy, and increases in value over time. Whole life insurance provides a surrender value based on the value of the investment portion at any given time. This amount may be taken in cash if the whole life insurance policy is canceled, used as collateral for a policy loan, or used to buy additional death benefit coverage.
Permanent life insurance
Permanent life insurance is a form of life insurance such as whole life or Universal Life (can be), where the policy remains in force until the policy matures (which is when the insured passes away), unless if the owner fails to pay the premium and the policy lapses.
Joint Life Insurance
Joint Life Insurance is type of policy that covers spouses, or even two or more business partners, also called First to Die. The policy pays when the first insured person dies. The underlying concept is that when the first person dies, the joint policy will provide the living person with enough money to pay the mortgage, provide for children, or pay off a business loan. Once that is complete, the large face value will no longer be needed.
Survivor Ship Insurance
Survivor ship, Survivor or Second to Die is a type of policy that does not pay until the last insured dies, whether it be a spouse in a marriage or the last partner in a business. This approach is most logical when a couple wants to leave a sizable legacy to someone or when they don’t need the money as long as one of them is living, but will need to leave a way for the heirs to pay estate taxes, or pay off debt.
Key person insurance
Key person insurance is a type of life insurance policy taken out by a company on one of their key employees, in which the company is the beneficiary in the case of that employee’s untimely demise. Key person insurance is a relatively new type of Insurance, but has attracted much praise and is encouraged by many strategic advisors. Life insurance is a system by which a fixed amount of money is paid to a beneficiary in the event that the person being covered dies. Most life insurance companies offer a type of key person insurance, as it has become more and more necessary in the business world.
Final Expense Insurance
Final Expense Insurance is often called Burial life insurance and it provides your loved ones with the funds to pay for your burial expenses as well as other expenses that will pass over to your survivors. No one ever wants to think about dying but it’s important to research burial insurance so your children or other family members have financial assistance with your burial arrangements.
Most final expense insurance has a small face value. The insurance industry sees anything less than $50,000 as small. Most funerals will cost $5,000 to $10,000 or even higher. However, most will not go above $20,000.
Some final expense insurance policies will require that an applicant answer some basic health questions. They often cover whether you are in good health or are currently living in a nursing home. If you pass their questionnaire, you can qualify for a simplified issue policy. However, if the applicant is in bad health or in a nursing home, guaranteed issue policies may cover them. These polices do not ask questions about health or age. There may be a waiting period though before full death benefits are paid. Many waiting times are from two to three years. If the insured dies within the waiting period, reduced benefits are paid. If they hold out, the full face value of the policy goes into effect.
Just Us Insurance is located in Oceanside.
To assist you , our Agents offer in home appointments in
Oceanside, Carlsbad, Vista, San Marcos, Escondido, Temecula,
Murrieta, Santee, El Cajon, San Clement, Mission Viejo, and Big Bear Lake.
Just Us Insurance operates in San Diego, Riverside, Orange and San Bernardino Counties.