Many people are under the impression that you cannot buy life insurance for marijuana users. In fact, many applicants lie about their usage and then are denied coverage, not because they use marijuana, but because they lied about it. Insurance companies refer to this as misrepresentation. The truth of the matter is using marijuana does […]
While tobacco usage certainly impacts insurability and insurance premiums, it isn’t impossible for those who use tobacco to get life insurance. Several factors impact what type of policy you’ll qualify for and how much it will cost. Life insurance for smokers does tend to cost more than policies that cover non-smokers, but term life insurance can still be found at affordable rates.
The type of tobacco you use, and how frequently you do so, can have an impact on your For example, some companies make preferred rates available for life insurance for cigar smokers who smoke in moderation (typically no more than one a month). The same is true for those who use smokeless tobacco moderately. If your tobacco usage fits one of these categories, be sure to ask your insurance agent about what types of special life insurance for tobacco users programs might be available to you.rate.
If you quit smoking at least a year ago, some companies will classify you as a non-smoker but probably won’t give you Preferred rates (provided that you would otherwise qualify).. If you quit 2-3 years ago, some companies will allow Preferred rates (provided that you would otherwise qualify).
When we consider using life insurance as an investment, there are as many people in favor of it as there are opposed. Certainly, financial gurus like Dave Ramsey and Suze Orman are against life insurance for any reason other than a death benefit, but remember, while speaking out against most life insurance products, they are […]
Life insurance provides your family and loved ones with a vital financial safety net in the event of your death. But with a variety of life insurance policy options available, many people wonder exactly how to handle their policies when it comes to filing taxes. The good news is that in most cases, you do […]