Dallas Life Insurance
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Does Term Life Insurance Vary From One State To Another In The United States Of America?
When an individual sits to plan for his future or that of his family and children, there shouldn’t be any reason to look at his insurance policies. Though this is the commencing sentence of this article, it may seem a little more than confusing to a lot of the readers Read the rest of this entry »
I’m not a cigarette smoker but I do smoke cigars occasionally. Right now, I’m planning on getting a life insurance here in Dallas Texas and I just want to know if I have to pay smoker life insurance rates?
Steve
Dallas, TX
Steve,
Generally, smokers pay higher rates for life insurances than non-smoking people. This is mainly because of the high risk in mortality associated with smoking.
Smokers are categorized by life insurance companies in order to determine the amount of their premiums. There are moderate smokers or those who smoke 20 or less cigarettes a day, and heavy smokers or those who smoke more than 20 cigarettes a day. Life insurance companies commonly offer lower smoker life insurance rates for people who smoke less. A lot of questions are pouring out on how we should classify smokers of cigars, especially now that there is a cigar hype going on. Unfortunately, having a consensus within the industry regarding this issue on smokers is still far from reach. However, clients are usually asked about their smoking habits and their consumption of nicotine-containing products.
Usually, the way insurers classify or categorize cigar smokers varies greatly from one company to another. Some life insurance companies charge the same smoker life insurance rates for cigarette smokers and cigar smokers because they believe that all forms of tobacco are potentially and equally dangerous to one’s health. But also offers certain exceptions for occasional use, like smoking less than a dozen cigars a year. There are also life insurance companies that choose to be on the safe side by charging less for cigar smokers than the heavy cigarette smokers but higher than non-smoking people. There are even life insurance companies that classify cigar smokers as non-smokers and so charging them with lower rates. For those who are thinking of quitting, some life insurance companies reevaluate your rates if you quit smoking for at least a year.
Although you said that you only smoke cigars occasionally, it is still wise to contact your life insurance agent so you can learn more about smoker life insurance rates suited for you. So even if you’re simply joining the cigar bandwagon or a really heavy smoker, having first-hand information about policies and rates is definitely a must especially if you’re planning on getting life insurance.
I recently decided to get a life insurance policy and I’ve been asking some agents which would be suitable for me. They suggested that I get Whole Life Insurance Policy quote, what exactly is it?
Katrina
Dallas, TX
Good Question:
It is good that you understand the value of having a life insurance policy. And the fact that you’ve been asking around shows that you are a careful buyer.
Whole Life Insurance Policy is a type of policy that covers you for as long as you live. It is permanent as long as you keep paying the premium. Since it is a long term insurance, the premiums that you pay are fixed.
Unlike other life insurances, you get cash values with whole life insurance policy, which you can keep in case you surrender the policy before maturity. The cash value account works like a savings account. It lets you accumulate money over time and it also lets you take out loans. If at any time anything should happen to you that would cost you your life before you finish paying off the loan, the money that your beneficiaries will receive will be less than the cash amount that you have saved. For instance, you took out a $ 350,000 policy and over the years, you often borrowed from the cash money which amounted to $100,000, now in the event of your death, your family will only receive $200,000. This is because the policy will have to pay for the money that you borrowed over the years. To be sure, you can ask and clarify with your life insurance agent on how much your beneficiaries will receive upon your death.
I’m sure that you’ll find a life insurance agent who can give you a whole life insurance policy quote and offer the best suited Whole Life Insurance Policy for you. Good luck!
Can I find a Term Life Insurances policy with no medical exam?
Joyce
Plano, TX.
Joyce,
Term Life Insurance with No Medical required can be a difficult business most term life policies will require a basic level of medical history be supplied by the prospectus policy covering the policy holder before the advent of a new term life contract. Term Life Insurance is generally a long term form of insurance covering the policy holder for a number of scenarios. The normal form of Term Life insurance is a one year policy that would cover named beneficiaries in the unfortunate event of the policy holder dying during the term of his or her insurance policy.
Great Question