Tips for smokers on shopping life insuance
June 3rd 2007 22:32
If you happen to be a smoker, you will find your life insurance premium much higher than non smokers. Just take a glance at the web sites like profam.com , you find out why you are supposed to pay more on life insurance.
An entry on this site about smokers life insurance reveals the facts as stated below:
Certain research results show, for a 30 year term life insurance policy valued at 30 thousand dollars, the monthly premium charge on some 29 year old female smokers is $20 to $30 more than those who don't smoke . And similar policy charge for same age group of male smokers are $20 to $80 more than the non smokers.
You might feel being discriminated. But some other entries on profam.com explains that if you put on an insurance company's thinking cap, then you will know why they ask for more. Many studies do show that smokers are very likely to contract diseases as lung cancer, heart attack, emphysema, severe asthma, stroke, and other forms of cancer which in turn cause premature death to smokers.
However, as the insurance marketplace becoming more and more competitive and since 1 in 4 Americans smoke, these companies are beginning to realize that smokers are a large market segment in which they can find the ones who are willing to pay higher premiums for term life insurance coverage. They welcome smokers to join their life insurance policies based on certain pre-set criteria.
When you admit in the application form that you smoke, then you’ll have to take a medical exam. After you undergo a urine test, some insurance firms will classify you as a light, moderate or heavy smoker. If you are a light smoker and in good health, then your premium will be more affordable. Make sure you tell the truth about your health and smoking habit on your application, otherwise, there's a good chance that no benefits will paid if you die.
Your insurance company may have a sliding scale that reduces premiums according to the amount of time you've been smoke-free. If it doesn't, it would make sense for you to shop around for a company that does. At the very least, your company should change your status from standard to preferred when you quit smoking. Visit the smokers life insurance section of the web site profam.com , you will find more selections and ideas to help you shop for a better policy.
Stopping smoking is the right thing to do for both you and your family. You should be rewarded with better health, longer life and lower term life insurance premiums if you do. Be honest, shop around and you’ll be surprised how low those premiums can be.
profam.com is a website with lots of info other than smokers life insurance . On its web pages you will find lists of sites that are safe for children and also have quality information and resources
An entry on this site about smokers life insurance reveals the facts as stated below:
Certain research results show, for a 30 year term life insurance policy valued at 30 thousand dollars, the monthly premium charge on some 29 year old female smokers is $20 to $30 more than those who don't smoke . And similar policy charge for same age group of male smokers are $20 to $80 more than the non smokers.
You might feel being discriminated. But some other entries on profam.com explains that if you put on an insurance company's thinking cap, then you will know why they ask for more. Many studies do show that smokers are very likely to contract diseases as lung cancer, heart attack, emphysema, severe asthma, stroke, and other forms of cancer which in turn cause premature death to smokers.
However, as the insurance marketplace becoming more and more competitive and since 1 in 4 Americans smoke, these companies are beginning to realize that smokers are a large market segment in which they can find the ones who are willing to pay higher premiums for term life insurance coverage. They welcome smokers to join their life insurance policies based on certain pre-set criteria.
When you admit in the application form that you smoke, then you’ll have to take a medical exam. After you undergo a urine test, some insurance firms will classify you as a light, moderate or heavy smoker. If you are a light smoker and in good health, then your premium will be more affordable. Make sure you tell the truth about your health and smoking habit on your application, otherwise, there's a good chance that no benefits will paid if you die.
Your insurance company may have a sliding scale that reduces premiums according to the amount of time you've been smoke-free. If it doesn't, it would make sense for you to shop around for a company that does. At the very least, your company should change your status from standard to preferred when you quit smoking. Visit the smokers life insurance section of the web site profam.com , you will find more selections and ideas to help you shop for a better policy.
Stopping smoking is the right thing to do for both you and your family. You should be rewarded with better health, longer life and lower term life insurance premiums if you do. Be honest, shop around and you’ll be surprised how low those premiums can be.
profam.com is a website with lots of info other than smokers life insurance . On its web pages you will find lists of sites that are safe for children and also have quality information and resources
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Comment by smkwan
Buzzing around