Oklahoma Life Insurance
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Life Insurance – Saving Money With Stepped Or Level Premiums
In New Zealand, when you start a life insurance plan you usually can choose from two premium types: “stepped” premiums or “level” premiums. The difference is simple. Stepped life insurance premiums are designed to increase with age – so as you get older the cost of your insurance Read the rest of this entry »
I’ve been a smoker for I think 5 years of my life. I quit several years ago for my own health. I heard that getting a non smokers life insurance is cheaper as compared to when you are smoking. Is this true? By the way I am from Oklahoma if that makes any difference.
Hope
Oklahoma City, OK
Hello Hope! It’s nice to hear that you’ve stopped smoking. I myself was a smoker before and I also quit for the simple and same reason that you have – I wanna live longer! When I decided to quit, I was shocked on the benefits I got not to mention getting lower life insurance premium.
It’s true that non smokers life insurance is cheaper as compared to smokers. Again the logic behind this is very simple – smoking means only one thing – higher risk for heart diseases and even cancer. So if you are someone who is considered to have higher chances of getting those diseases hence your life expectancy is shorter. With this, life insurance companies are favorable to non smokers. They are targeting the market they call “better mortality risks”. Given this fact, it is expected that non smokers life insurance get lower rates in the market.
In general, life insurance companies are aiming at non smokers by offering lowers life insurance premiums. If you are looking for non smoker life insurance you can use the websites by just entering your personal information. By doing this, you’ll instantly get non smoker life insurance quotes.
Jun 29
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.
Premium financing is where, typically, an independent institutional funder decides to pay the premium for the insured. Financing is done for a period of years, or even for life. Financing rates vary, but are typically related to the U.S. prime rate or LIBOR.