The premium of whole life insurance is fixed; the insurance companies reserved no right to increase the premium as the insured grows older or diagnosed with serious disease.
Archive for June, 2008
Whole Life Insurance
Jun 29
You will be asked if you have used tobacco products, including cigarettes, cigars, dip, snuff and chewing tobacco during this time period. If you enjoy a good cigar from time to time or smoke just two cigarettes year, you are a smoker by insurance standards, even though the nicotine traces won’t show up in your required urine test.
Smokers Life Insurance
Jun 17
When you are applying for life insurance, the agent or application will inquire about your smoking habits, and ask you if you are or have smoked in the previous 12-72 months.
The life expectancy of smokers is shorter than those who do not smoke. When insurance companies identify that an applicant is a smoker, it automatically raises red flags. The person is considered to have a shorter life span, and is expected to possibly have health issues later in life