If you are planning to purchase a life insurance policy or an annuity contract, you should first consider your needs and understand the different type of insurance products that are available. Many more consumers are using life and annuity products as part of their financial planning goals. Consumers spend substantial sums of money each year on life insurance policies or annuity contracts knowing very little about what it is that they are getting. This guide was developed to help consumers make educated decisions and to help them understand both the benefits and the risks involved in financial planning.
The purpose of this information guide is to help you understand what type of life insurance policies or annuity contracts are available. If one type of policy or contract does not fit your needs, then ask and find out about other available policies or contracts, many of which are described in this information guide. You can research more information on life insurance policies or annuity contracts by checking with a licensed life insurance agent or a licensed life insurance company. You can also visit your public library for material or books on financial planning. Life insurance or annuity information is also available on the Internet. In addition, The California Department of Insurance (CDI) has a toll-free Hotline telephone number and website that can provide further information and assistance on life insurance policies and annuity contracts. Please see the many ways to contact the CDI on the last page of this information guide. This information guide is divided into two sections: Life Insurance and Annuities.