f you’re in the market for as expensive as non-smokers.
a term life insurance Staying away from cigarettes a
policy, here are a few week or two before your company
money saving tips to help you physical won’t do. Urine tests
keep the premiums down. will detect traces of nicotine
(yep, this means chewing tobacco
1. Buy when you are young too). Most companies require you
healthy: Life insurance to be smoke free for a minimum of
rates, although they contain one year. Some companies require
fees, and a myriad of expenses, two years.
are primarily based upon the
statistical chances of a person 3. Lose weight: Companies
dying in a given year. Insurance don’t charge by the pound, but
companies use their own you may be charged more if your
experience plus the statistical weight exceeds a certain level.
information collected by the
government. The statistics are 4. Buy direct: The
used to calculate the yearly internet has made it easy to shop
‘cost of death’ for each $1,000 around for life insurance
of life insurance benefit. As policies directly. By eliminating
people grow older, the chances of the middle person, you save on
dying increase. At first the salespersons commissions which
increase is slow up until middle are built into the policy
age, and then the chance of death premium.
increases more rapidly. As the
chance of death rise, so do the 5. Healthy people don’t need
premiums. ‘guaranteed issue’ policies:
People with medical conditions
2. Quit smoking: Smokers’ may want to purchase guaranteed
premiums are nearly three times issue policies. These policies do
not require a medical exam and you are healthy, take the exam.
tend to have higher premiums. The It will prove that you are a good
company is taking more of a risk risk and your rates will be
because they don’t know your true lower.
medical condition. However, if
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