The California Department of Insurance is responsible for implementing many of the insurance-related laws of the state. They are the first in the line of consumer protection. It’s goal is to protect insurers by regulating the industry’s laws and create a healthy marketplace.

Ways to save on life insurance

There are ways to get an effective and efficient life insurance. Get some life insurance as a job benefit. It’s a good idea to use any life insurance you get from work as an addition to what you buy on your own. If your company will allow you to buy more insurance, be sure to differentiate rates from various life insurance providers on coverage you can buy from your employer. You can find a better deal on your own, although you’ll have to measure up medically to get a policy but it will be no problem if you are on the right track.

If you believe that you have health issues, then you must get yourself a specialist. You need to be informed before hand of your condition before signing up with anything because you will never know who else might put information on your behalf. Avoid getting churned by some insurance representative or agent. “Churning” is when you receive a bill for new premiums within a year or two — after the value in their old policy has been expired. But you can get help if you’ve been tricked by your agent. Contact your state insurance representative to find out how to go about it. Many companies agree to pay the taken advantage of these and other illegal actions. Don’t forget to file complaints to the main office of your insurance company directly.

You should also clean up your act. You may know that you can cut your insurance premium if you stop unnecessary habits like smoking and if you lose weight, you don’t know just how much you can save. Most insurance companies charges as much as 50% to insure a smoker. Even the reward for getting the correct weight for your height is tremendously great too.

Insurance companies have come up with a bunch of extras to thicken your life insurance bill, most of them are really ridiculous. Agents call the L word as Life insurance. Some companies constantly reminds their agents to never say the word to possible clients but you are more likely to hear an agent say words such as tax free savings plan, mortgage protection policy, and retirement plan.

Don’t be fooled in what many says because it is simple, what agents are selling to you is a whole life insurance. In their sales spiels, agents like to emphasize the tax-free accumulation of cash value in a whole life policy but what they don’t tell you is the down side which is their high commissions, the endless payments before any amount is accumulated and intimidating penalties to scare you if you want to get out of the deal early. It’s nothing but a dirty little secret that insurance agents don’t want to divulge to you. Some companies sell life insurance at genuinely little or no strings attached and that can mean big savings for you.

The Consumer Services Division (CSD) is part of the Consumer Services and Market Conduct Branch of the California Department of Insurance (CDI). CSD is the one who handles the gathering and giving response to consumer’s questions about insurance company and other things related to it.

California Department of Insurance

Consumer Services Division

300 South Spring Street,

South Tower Los Angeles, CA 90013

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