Avoid Life Insurance Scams in Illinois
Reader Question: Stacey really made me laugh. It is good to know getting life insurance is fairly easy, but how do I know I am not being scammed.
Kathy
Kathy,
It is a sign of the times that we must be diligent about this type of thing but we do. Remember the old adage, “If it sounds too good to be true, it is too good to be true.” I heard the so many times from my dad growing up. It is still good advice.
The way insurance works is you pay a monthly premium and if catastrophe hits during the term of the policy you are covered by the policy. This is a simple concept to remember so if someone promises vanishing premiums or guarantees you a premium free policy over a period of time, kick him to the curb. That is not how insurance works. Never buy a policy you don’t understand. If your agent or life insurance company can’t explain your policy in terms you can understand then send them out the door and move on to another company. Finally, only work with a licensed agent and authorized company.
Whole Life Insurance for Smoker in Illinois
Reader Question: Can I get a whole life policy if I am a smoker? I like the idea of getting some of my money back.
Mary
Mary,
Wouldn’t it be great if everyone could get money back from their policy if they didn’t use it? Unfortunately that is not the way it always works. It is true that some whole life policies act as an investment tool. If you live to the agreed upon age at the end of your whole life policy there is a payout. The downside is that a smoker would be charged rates almost 50% more than a non-smoker.
You have two choices, first stop smoking. Not only is it bad for your health, it is also bad for your pocket book and really limits your choices in life insurance. Your second choice if you don’t want to stop smoking is to buy a term life policy for less money and use the extra cash you saved to invest.
Quit Smoking for Cheaper Life Insurance in Illinois
Reader Question: I am trying to quit. If I succeed after I already have my premium, will the Illinois life insurance company lower my rates?
Fran
Fran,
Good for you for quitting. Smoke can cause many health problems and you are taking a good step forward. Stick with it and you will be another one of the many who quit smoking for each year.
I gather from what you said that you already have an insurance policy. What a person says and what a person does are two very different things to the insurance company. They want to make sure that someone does not quit for a month, get their rates lowered and then go back to smoking so there is a period of time that you must prove that you are smoke free. For some companies the duration is one year and other companies it is five. Because it varies so greatly from company to company I would advise you to shop around. The life insurance companies are so competitive these days that you could do very well to shop around to find someone that will give you a comparable policy for much less!
Cheap Life Insurance for Occasional Smoker in Illinois
Reader Question: I live in Illinois and I am looking for life insurance. How much do you have to smoke to be considered a smoker?
Jeff
Jeff,
By your question I am going to assume you are not a heavy smoker. So if you are an occasional smoker most insurance companies will classify you as a smoker. They don’t care if it is only socially or once and awhile and as a smoker you will be charged higher rates. Let’s face, smoking is really bad for you and there have been many people that have died prematurely from smoking related illnesses. If you don’t smoke a lot go the extra mile and quit. Not just for your pocket book, but for your health and the loved ones that you want to protect with the life insurance policy.
There are a small number of insurance companies that specialize in providing coverage for smokers. They determine the rates according to the kind and frequency of your tobacco usage. An occasional smoker may be able to get rates comparable to non-smoker rates from another company. Only way to be sure you are not is to get rates from these companies. Use a good service that will get the quotes for you.
Thanks for your question Jeff. I hope it helps.
Find Smoker Life Insurance Easily in Illinois
Reader Question: Is there an easy way to get smoker life insurance? I just hate having to talk to a bunch of people. I am a 36 year old woman with three kids that never let me finish a phone conversation and I live in Illinois.
Stacey
Stacey,
LOL you make me laugh and bring back memories of my big family. My poor mom with seven kids couldn’t get through a phone conversation until my brother who kept interrupting her got walloped on the head with said phone. It made a big impression on all of us and we gave her a lot more space when she was on the phone!
For a busy mom like you there is a great way to life insurance. There are services that will get the quotes for you. I recently used one for homeowners insurance and was relieved that all of the agents emailed me my quotes. They also called but I was able to preview the quotes on my own time, something a mom like you has precious little of and then when I made my decision I talked only with the company I decided to go with. I have included a link for you at the top of the page to make it easier for you.
That being said, you will get much better rates if you quit smoking. Not only that, your darling children that keep you from the phone need you in their lives. So for them above all you should quit. I say that because I care about you and your children.
Thank you for your question. I hope this helps.