The insurance industry in the State of California is regulated under Part 2 of the California Insurance Laws.  Life insurance claims procedures and policy requirements are in place to protect you, the consumer.

California law provides consumers a “free look” period of 10 days in which to decline or accept a life insurance policy.  Many companies allow more time to decide.  The time limit will be stated on the policy.

Claim procedures will vary from company to company.  Most valid claims will usually be settled within 30 days of receiving a death notice. 

If you do not pay your premium on time, California law allows you a grace period of 30 days before a company can terminate your policy.

There are some laws and rules that protect the insurance companies as well. 

Suicide is not covered during the first two years.

Misrepresenting yourself on the policy can also result in denial of coverage.

In both cases above premiums may or may not be returned based on the terms and conditions of the policy.

As always, if you have any questions or concerns contact your agent or contact a www.starkquote.com agent.