Life insurance fair advices: Stop smoking. If you’re a smoker, you’re probably fed up of hearing people tell you to stop. However, when it comes to life insurance, you’ll pay a significantly hiked premium if you indulge in tobacco. To count as a non-smoker, you have to be completely nicotine free for a year, including patches, gums and vaporisers, but you’ll get a knock down price on your life insurance as a reward.
You may have been a smoker or overweight with complicating factors such as high blood pressure or high cholesterol levels. You don’t want to be unnecessarily penalized by a life insurer, especially if you’ve made progress in regard to improving your diet, starting a healthy living regimen or quitting smoking. The more positive you can make your health profile appear – the better you are rated. All life insurers rate people based on health and each rating change can cost as much as 25% more which translates into a 25% saving on what you pay for your policy if your circumstances have improved.
Life insurance is simple enough: You pay a premium and your heirs receive a lump-sum benefit after you’re gone. Whole life insurance remains in effect for life — provided you pay the premiums — and has an investment component. Term life insurance, which is more affordable, covers you for a certain period of time, such as 10 or 20 years. Deciding whether you need life insurance might seem like a consideration separate from the rest of your financial plan, but actually it ties into many other financial decisions. We asked Brian McCann, a financial advisor in San Jose, California, what else millennials should know when it comes to life insurance. Find additional details on Independent & Unbiased Life Insurance Agency Pennsylvania.
When choosing a life insurance company, the financial strength and reputation of the company you select is a key consideration to ensure guarantees are kept. Ask around and do some research before you buy. (Publicly-traded life insurance companies are required to report on their financial condition 4 times a year.) There is no substitute for good advice. The more you know about life insurance basics, the more control you have over deciding what’s right for you. To get the right answers, some people prefer talking to a trained financial professional, while others favor doing their own research online or in the press. Whatever way works best for you, taking action to protect your family with the right amount of life insurance coverage is an important part of your lifetime financial plan.
Terms4Less was founded in 2004 by Caroline Andresen to help consumers with their life insurance planning needs. We work WITH the all top insurance companies in the nation but not FOR them – that’s a big difference as our clients come first. This gives us the flexibility to listen to our client’s needs so we can solve the problems they are facing. Terms4Less is an independent life insurance broker – that means that our quotes are unbiased. Many agents are what are called “career agents,” because they work for a particular insurance company. By and large, their duty is to sell the products of the ONE carrier that is “housing” them. So generally, they are only going to show you products from that company. Discover more info on www.terms4less.com.